---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-104740"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2023-09-28T23:59:59+00:00"
generated_at: "2026-06-10T08:01:06.003919+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Agree Realty enters new employment agreement with CEO Joel Agree, no fixed term

## Summary
- New employment agreement with CEO Joel Agree has no fixed expiration date, supersedes prior agreement expiring Sept 30, 2023.
- Upon non-cause termination, Mr. Agree receives 200% base salary plus 200% of average annual bonus (3-year) and full equity vesting.
- Upon change-in-control termination, severance increases to 300% base salary plus 300% of average annual bonus and full equity vesting.
- Death or disability triggers prorated target bonus, equity vesting, and two months salary (death only) plus health benefits.
- Non-compete and non-solicitation provisions apply for one year after termination for cause or voluntary resignation without good reason.

## SEC filing metadata
- accession: 0001104659-23-104740
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2023-09-28T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/917251/000110465923104740/0001104659-23-104740-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000110465923104740/tm2327163d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-104740
- JSON: https://secwatch.observer/filing/0001104659-23-104740.json
- Plain text: https://secwatch.observer/filing/0001104659-23-104740.txt

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