Agree Realty Corp 8-K, filed Apr 3, 2024
Agree Realty Corp (ADC)
About this 8-K
Agree Realty Corp filed this 8-K on April 3, 2024.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date
of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
|
(Commission file number) |
(I.R.S. Employer Identification No.) |
|
(Address of principal executive offices) |
(Zip code) |
(Registrant’s telephone number, including
area code) (
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 |
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 3, 2024, Agree Realty Corporation (the “Company”) announced its weighted-average number of common shares outstanding for the three months ended March 31, 2024. The following table computes the Company’s weighted-average number of common shares outstanding for the period:
| Three Months | ||||
| Ended | ||||
| March 31, 2024 | ||||
| Weighted-average number of common shares outstanding | 100,565,173 | |||
| Less: Unvested restricted stock | (280,585 | ) | ||
| Weighted-average number of common shares outstanding used in basic earnings per share | 100,284,588 | |||
| Weighted-average number of common shares outstanding used in basic earnings per share | 100,284,588 | |||
| Effect of dilutive securities: | ||||
| Share-based compensation | 52,012 | |||
| ATM forward equity offerings | - | |||
| Weighted-average number of common shares outstanding used in diluted earnings per share | 100,336,600 | |||
| Operating Partnership Units ("OP Units") | 347,619 | |||
| Weighted-average number of common shares and OP Units outstanding used in diluted earnings per share | 100,684,219 | |||
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. There was no impact of the offerings on the Company’s weighted-average diluted shares for the three months ended March 31, 2024.
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 | ||
| Date: April 3, 2024 | By: | /s/ Peter Coughenour |
| Name: Peter Coughenour | ||
| Title: Chief Financial Officer and Secretary | ||