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Form 8-K

sec.gov

8-K — AGREE REALTY CORP

Accession: 0000917251-26-000030

Filed: 2026-04-02

Period: 2026-04-02

CIK: 0000917251

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Other Events

Documents

8-K — adc-20260402.htm (Primary)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): April 2, 2026

AGREE REALTY CORPORATION

(Exact name of registrant as specified in its charter)

Maryland

(State or other jurisdiction of incorporation)

1-12928 38-3148187

(Commission file number) (I.R.S. Employer Identification No.)

32301 Woodward Avenue

Royal Oak, Michigan

48073

(Address of principal executive offices) (Zip code)

(Registrant’s telephone number, including area code) (248) 737-4190

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.0001 par value ADC New York Stock Exchange

Depositary Shares, each representing one- thousandth of a share of 4.25% Series A Cumulative

Redeemable Preferred Stock, $0.0001 par value ADCPrA New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01.    Other Events.

On April 2, 2026, Agree Realty Corporation (the "Company") announced its weighted-average number of common shares outstanding for the three months ended March 31, 2026. The following table computes the Company’s weighted-average number of common shares outstanding for the period:

Three Months Ended

March 31, 2026

Weighted average number of common shares outstanding 120,059,357

Less: Unvested restricted shares $ (202,939)

Weighted average number of common shares outstanding used in basic earnings per share 119,856,418

Weighted average number of common shares outstanding used in basic earnings per share 119,856,418

Effect of dilutive securities:

Share-based compensation 120,783

ATM Forward Equity Offerings 296,088

April 2025 Forward Equity Offering 102,344

Weighted average number of common shares outstanding used in diluted earnings per share 120,375,633

Operating Partnership Units ("OP Units") 347,619

Weighted average number of common shares and OP Units outstanding used in diluted earnings per share 120,723,252

To account for the potential dilution resulting from the forward equity offerings on earnings per share calculations, the Company used the treasury stock method to determine the dilution during the period of time prior to settlement. The impact of the offerings on the Company’s weighted-average diluted shares for the three months ended March 31, 2026 was 398,432 weighted-average incremental shares.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

AGREE REALTY CORPORATION

By: /s/ Peter Coughenour

Name: Peter Coughenour

Title: Chief Financial Officer and Secretary

Date: April 2, 2026

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Apr. 02, 2026

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Entity File Number

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Entity Registrant Name

AGREE REALTY CORPORATION

Entity Central Index Key

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Entity Tax Identification Number

38-3148187

Entity Incorporation, State or Country Code

MD

Entity Address, Address Line One

32301 Woodward Avenue

Entity Address, City or Town

Royal Oak

Entity Address, State or Province

MI

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48073

City Area Code

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Title of 12(b) Security

Depositary Shares, each representing one- thousandth of a share of 4.25% Series A CumulativeRedeemable Preferred Stock, $0.0001 par value

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ADCPrA

Security Exchange Name

NYSE

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