AGREE REALTY CORP shareholders approved Approval, by non-binding vote, of executive compensation at the 2026-05-14 meeting.
“Approval, by Non-Binding Vote, of Executive Compensation: Votes For Votes Against Abstentions Broker Non-Votes 97,715,282 4,650,345 147,499 6,771,007”
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 2026 at the 2026-05-14 meeting.
“Ratification of Appointment of Independent Registered Public Accounting Firm: Votes For Votes Against Abstentions 107,684,512 1,515,453 84,168”
Shareholder Votes
AGREE REALTY CORP shareholders approved Election of two directors to serve until the annual meeting of stockholders in 2029 at the 2026-05-14 meeting.
“The two director nominees were elected, the appointment of the independent registered public accounting firm was ratified and the executive compensation was approved by non-binding vote. The results of the voting were as follows: Election of Directors : Director Votes For Votes Withheld Broker Non-Votes John Rakolta, Jr. 100,834,036 1,679,090 6,771,007 Jerome Rossi 92,870,518 9,642,608 6,771,007”
Earnings Releases
AGREE REALTY CORP reported the first quarter ended March 31, 2026 results: net income $60.2 million, EPS $0.50. Guidance reaffirmed.
“Net Income for the three months ended March 31, 2026 increased 33.4% to $60.2 million, compared to $45.1 million for the comparable period in 2025. Net Income per share for the three months ended March 31 st increased 19.1% to $0.50, compared to $0.42 for the comparable period in 2025.”
Debt Financings
AGREE REALTY CORP incurred senior notes of $400 million aggregate principal amount with U.S. Bank Trust Company, National Association at 5.600% per annum maturing June 15, 2035.
“completed an underwritten public offering of $400 million aggregate principal amount of its 5.600% Notes due 2035”
Governance Changes
AGREE REALTY CORP: Amended and restated bylaws to implement proxy access, allow stockholders to amend bylaws by majority vote, and require incumbent directors to offer resignation after failing to receive majority support in uncontested elections, along with other ministerial changes (effective 2024-12-06).
“On December 6, 2024, the Board of Directors of Agree Realty Corporation, a Maryland corporation (the “Company”), amended and restated the Company’s bylaws (the “Bylaws”) to: · implement proxy access by adding Article I, Section 1.13 of the Bylaws to permit a stockholder (or group of up to 20 stockholders), owning 3% or more of the Company’s common stock continuously for at least three years, to nominate and include in the Company’s proxy materials for an annual meeting of stockholders, a number of director nominees not to exceed the greater of two directors or 20% of the number of directors up for election, provided that the stockholder (or group) and each nominee satisfy the requirements specified in the Bylaws; · allow the Company’s stockholders to amend the Bylaws (previously a power reserved only for the Board), by a majority of the votes entitled to be cast on the matter; and · add the requirement that an incumbent director offer to resign following an uncontested election in whic”
Debt Financings
AGREE REALTY CORP incurred senior notes of $450 million with U.S. Bank Trust Company, National Association at 5.625% per annum maturing June 15, 2034.
“On May 13, 2024, Agree Limited Partnership (the “Issuer”), a Delaware limited partnership and subsidiary of Agree Realty Corporation, a Maryland corporation (the “Parent Guarantor”), completed an underwritten public offering of $450 million in aggregate principal amount of its 5.625% Notes due 2034 (the “Notes”).”
Earnings Releases
AGREE REALTY CORP reported first quarter ended March 31, 2024 results: net income Net Income for the three months ended March 31, 2024 increased 8.2% to $43.0 million, EPS Net Income per share for the three months ended March 31 st decreased 2.4% to $0.43. Guidance initiated.
“Agree Realty Corporation Reports First Quarter 2024 Results Introduces 2024 AFFO Per Share Guidance of $4.10 to $4.13”
Earnings Releases
AGREE REALTY CORP reported financial results for the fourth quarter and full year ended December 31, 2023.
“Agree Realty Corporation (the “Company”) issued a press release describing its results of operations for the fourth quarter and full year ended December 31, 2023”
Linglong He was appointed as Director at AGREE REALTY CORP.
“voted to appoint Linglong He to the Board, effective as of January 1, 2024 (the “Effective Date”).”
Earnings Releases
AGREE REALTY CORP reported the nine months ended September 30, 2023 results: net income $118.4 million, EPS $1.26.
“Net Income for the nine months ended September 30, 2023 increased 11.8% to $118.4 million, compared to $105.9 million for the comparable period in 2022. Net Income per share for the nine months ended September 30 th decreased 9.4% to $1.26, compared to $1.39 per share for the comparable period in 2022.”
Earnings Releases
AGREE REALTY CORP reported the quarter ended September 30, 2023 results: net income $39.7 million, EPS $0.41.
“Net Income for the three months ended September 30, 2023 increased 5.6% to $39.7 million, compared to $37.6 million for the comparable period in 2022. Net Income per share for the three months ended September 30 th decreased 12.4% to $0.41, compared to $0.46 per share for the comparable period in 2022.”
Craig Erlich was appointed as Chief Growth Officer at AGREE REALTY CORP.
“appointed Craig Erlich, the Company’s current Chief Operating Officer, to serve as the Company’s Chief Growth Officer.”
Nicole Witteveen was appointed as Chief Operating Officer at AGREE REALTY CORP.
“appointed Nicole Witteveen, the Company’s current Executive Vice President, People and Culture, and Chief of Staff, to serve as the Company’s Chief Operating Officer, effective as of September 18, 2023”
Earnings Releases
AGREE REALTY CORP reported the six months ended June 30, 2023 results: net income Net Income for the six months ended June 30, 2023 increased 15.2% to $78.8 million, EPS Net Income per share for the six months ended June 30, 2023 decreased 7.9% to $0.86. Guidance raised.
“Agree Realty Corporation (NYSE: ADC) (the “Company”) today announced results for the quarter ended June 30, 2023.”
Earnings Releases
AGREE REALTY CORP reported the second quarter ended June 30, 2023 results: net income Net Income for the three months ended June 30, 2023 increased 14.3% to $39.0 million, EPS Net Income per share for the three months ended June 30, 2023 decreased 7.2% to $0.42. Guidance raised.
“Agree Realty Corporation (NYSE: ADC) (the “Company”) today announced results for the quarter ended June 30, 2023.”
Material Agreements
AGREE REALTY CORP entered into Term Loan Agreement with PNC Bank, National Association valued at $350 million (effective 2023-07-31).
“Agree Realty Corporation (the “Company”), as parent guarantor, and Agree Limited Partnership, as borrower (the “Borrower”), entered into that certain Term Loan Agreement, dated as of July 31, 2023 (the “Agreement”), with PNC Bank, National Association (“PNC Bank”), as Administrative Agent, and a syndicate of lenders named therein (collectively, the “Lenders”), and with certain indirect subsidiaries of the Borrower as guarantors. The Agreement provides for a $350 million unsecured delayed draw term loan facility (the “Loan”).”
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.
“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”
Shareholder Votes
AGREE REALTY CORP shareholders approved Approval, by non-binding vote, of executive compensation at the 2023-05-11 meeting.
“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”
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.
“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”
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.
“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”
Earnings Releases
AGREE REALTY CORP reported the quarter ended March 31, 2023 results: net income Net Income for the three months ended March 31, 2023 increased 16.1% to $39.8 million, compared to $34.3 million for the, EPS $0.44. Guidance raised.
“Agree Realty Corporation Reports First Quarter 2023 Results Increases 2023 Acquisition Guidance to At Least $1.2 Billion”
Earnings Releases
AGREE REALTY CORP reported twelve months ended December 31, 2022 results: net income $145.0 million, EPS $1.83.
“Net Income for the twelve months ended December 31, 2022 increased 20.7% to $145.0 million, compared to $120.1 million for the comparable period in 2021. Net Income per share for the twelve months ended December 31, 2022 increased 2.4% to $1.83, compared to $1.78 per share for the comparable period in 2021.”
Earnings Releases
AGREE REALTY CORP reported three months ended December 31, 2022 results: net income $39.1 million, EPS $0.44.
“Net Income for the three months ended December 31, 2022 increased 24.8% to $39.1 million, compared to $31.3 million for the comparable period in 2021. Net Income per share for the three months ended December 31, 2022 of $0.44 was unchanged compared to the same period in 2021.”
Earnings Releases
AGREE REALTY CORP reported the third quarter ended September 30, 2022 results: net income $37.6 million, EPS $0.46. Guidance raised.
“Net Income for the three months ended September 30, 2022 increased 3.3% to $37.6 million, compared to $36.4 million for the comparable period in 2021. Net Income per share for the three months ended September 30, 2022 decreased 11.1% to $0.46, compared to $0.52 per share for the comparable period in 2021.”
Stephen Breslin was appointed as Chief Accounting Officer at AGREE REALTY CORP.
“The Company has appointed Stephen Breslin, the Company’s current Deputy Chief Accounting Officer, as Mr. Wolff’s successor effective as of June 3, 2022.”
David Wolff retired as Chief Accounting Officer at AGREE REALTY CORP.
“David Wolff, Chief Accounting Officer of Agree Realty Corporation (the “Company”), informed the Company of his plans to retire from his position, effective June 3, 2022.”
William S. Rubenfaer retired as Director at AGREE REALTY CORP.
“On December 21, 2021, William S. Rubenfaer, a director of Agree Realty Corporation (the “Company”), notified the Company that he would retire from the Company’s Board of Directors, effective December 31, 2021.”
Peter Coughenour changed role as Chief Financial Officer at AGREE REALTY CORP.
“On December 7, 2021, the Company promoted Peter Coughenour to Chief Financial Officer of the Company, effective as of such date.”
Michael Judlowe was appointed as Director at AGREE REALTY CORP.
“On September 10, 2021, the Board of Directors (the “Board”) of Agree Realty Corporation (the “Company”) voted to increase the size of the Board to ten members and voted to appoint Michael Judlowe to the Board to fill the vacancy created by the increase in Board size, effective September 10, 2021.”
Laith Hermiz resigned as Executive Vice President, Real Estate at AGREE REALTY CORP.
“On August 23, 2021, Laith Hermiz submitted his resignation, effective as of September 10, 2021, from his position as Executive Vice President, Real Estate of Agree Realty Corporation (the “Company”).”
Peter Coughenour was appointed as interim Chief Financial Officer at AGREE REALTY CORP.
“The Company appointed Peter Coughenour to serve as the Company’s interim Chief Financial Officer, effective as of the date of Mr. Leopold’s departure.”
Simon Leopold resigned as Executive Vice President, Chief Financial Officer and Secretary at AGREE REALTY CORP.
“On August 10, 2021, Simon Leopold submitted his resignation from his positions as Executive Vice President, Chief Financial Officer and Secretary of Agree Realty Corporation (the “Company”).”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.