---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-059228"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T05:35:34.228194+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Agree Realty shareholders reelect three directors, ratify auditor in annual vote

## Summary
- Merrie Frankel, John Rakolta Jr., Jerome Rossi reelected as directors; no opposing nominees.
- Grant Thornton LLP ratified as independent auditor for 2023 with 79M for, 634K against.
- Non-binding say-on-pay approved with 71.7M votes for (3.6M against).
- Advisory vote on executive compensation frequency set to every year, as board recommended.

## SEC filing metadata
- accession: 0001104659-23-059228
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 5.07
- EDGAR index: https://www.sec.gov/Archives/edgar/data/917251/000110465923059228/0001104659-23-059228-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000110465923059228/tm2315585d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-059228
- JSON: https://secwatch.observer/filing/0001104659-23-059228.json
- Plain text: https://secwatch.observer/filing/0001104659-23-059228.txt

## Key facts
- Shareholder Votes
  AGREE REALTY CORP shareholders approved Election of three directors to serve until the annual meeting of stockholders in 2026 at the 2023-05-11 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-05-11
  source text: Election of Directors : Director Votes For Votes Withheld Broker Non-Votes Merrie Frankel 69,866,104 5,463,959 4,411,069 John Rakolta, Jr. 74,119,408 1,210,655 4,411,069 Jerome Rossi 70,444,580 4,885,483 4,411,069
  evidence_url: https://www.sec.gov/Archives/edgar/data/917251/000110465923059228/0001104659-23-059228-index.htm
- Shareholder Votes
  AGREE REALTY CORP shareholders approved Approval, by non-binding vote, of executive compensation at the 2023-05-11 meeting.
  - Proposal: say on pay
  - Outcome: passed
  - Meeting: 2023-05-11
  source text: Approval, by Non-Binding Vote, of Executive Compensation: Votes For Votes Against Abstentions Broker Non-Votes 71,683,743 3,568,852 77,468 4,411,069
  evidence_url: https://www.sec.gov/Archives/edgar/data/917251/000110465923059228/0001104659-23-059228-index.htm
- Shareholder Votes
  AGREE REALTY CORP shareholders approved Approval, by non-binding vote, of frequency of advisory votes on executive compensation (every one, two, or three years) at the 2023-05-11 meeting.
  - Proposal: say on pay frequency
  - Outcome: passed
  - Meeting: 2023-05-11
  source text: Approval, by Non-Binding Vote, of Frequency of Executive Compensation Votes: 1 Year 2 Years 3 Years Abstentions 73,402,401 23,339 1,843,068 61,255
  evidence_url: https://www.sec.gov/Archives/edgar/data/917251/000110465923059228/0001104659-23-059228-index.htm
- Shareholder Votes
  AGREE REALTY CORP shareholders approved Ratification of the appointment of Grant Thornton LLP as the Company's independent registered public accounting firm for 2023 at the 2023-05-11 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-05-11
  source text: Ratification of Appointment of Independent Registered Public Accounting Firm: Votes For Votes Against Abstentions Broker Non-Votes 79,077,694 634,356 29,082 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/917251/000110465923059228/0001104659-23-059228-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.