Agree Realty (ADC) executive compensation, 2026 proxy

Joel Agree, President and Chief Executive Officer, was paid $11M in 2025, up 31% from $8.4M the year before. The CEO-to-median-employee pay ratio was 86:1, on median employee pay of $127,044.

Filed
April 2, 2026
Annual meeting
May 14, 2026
Pay year
2025
Named executives
5
CEO total pay
$11M+31% vs prior year
CEO to median employee
86:1median $127,044
CEO pay in equity
63%$6.9M in awards
Median Employee Pay
$127,0442025 median annual total
CEO Pay Ratio
86:1CEO to median employee
CEO Stock Awards
$6,923,6082025 grant date fair value
CEO Non-Equity Incentive
$3,053,2532025 cash incentive earned
Total Employees
90Excluding CEO

How Agree was paid

$11M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary8%Stock awards63%Non-equity incentive28%All other compensation1%

Named executive officers

ExecutiveTotal
Joel AgreePresident and Chief Executive Officer$10,957,876
Peter CoughenourChief Financial Officer, Secretary$2,189,429
Nicole WitteveenChief Operating Officer$2,202,957
Craig ErlichChief Growth Officer$1,957,621
Danielle SpeharGeneral Counsel$1,432,731

What changed and why

  • $11MCEO total compensation increased to $10,957,876 in 2025 from $8,351,696 in 2024.
  • $6.9MStock awards for the CEO reached $6,923,608 for the year.
  • $3.1MNon-equity incentive plan compensation for the CEO was $3,053,253.
  • $127KThe ratio of CEO to median employee pay was 86 to 1 based on median employee pay of $127,044.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.