Compensation award — excluded from discretionary-purchase analysis.
Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell
View the official recordSEC Form 4 — Statement of Changes in Beneficial OwnershipAll the details
Dates, kept separate
Transaction date
Feb 23, 2026
Reporting period
Not applicable
Filed with the SEC
Feb 25, 2026
OfficerGrant / award
Context
Classification
grant award
Code A — grant or award
Planned / mechanical clue
Footnote references vesting of compensation awards
Only flagged when a footnote says so; never inferred
Source receipt
Record ID
0001795831-26-000002
Filed / recorded
Feb 25, 2026, 9:20 PM UTC
Added to OQRO
Oct 6, 2026, 3:07 PM UTC
Parser
form4-xml-v1
Data quality
Verified: identifiers matched exactly
Issuer
AGREE REALTY CORP
Issuer CIK
917251
Ticker
ADC
Reporting person
Danielle M Spehar
Relationship
Officer
Officer title
GENERAL COUNSEL
Security
Common Shares
Table
Non-derivative (Table I)
Transaction date
Feb 23, 2026
Transaction code
A
Shares / units
4,539
Price per share
$0.00
Acquired / disposed
Acquired (A)
Shares owned after
25,487
Ownership form
Direct
Amendment
No
Footnotes from the filing
Represents the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors. 1,513 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on February 23, 2027, February 23, 2028, and February 23, 2029, respectively.