<SEC-DOCUMENT>0001144204-12-026796.txt : 20120508
<SEC-HEADER>0001144204-12-026796.hdr.sgml : 20120508
<ACCEPTANCE-DATETIME>20120508160125
ACCESSION NUMBER:		0001144204-12-026796
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120507
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
FILED AS OF DATE:		20120508
DATE AS OF CHANGE:		20120508

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGREE REALTY CORP
		CENTRAL INDEX KEY:			0000917251
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				383148187
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12928
		FILM NUMBER:		12821399

	BUSINESS ADDRESS:	
		STREET 1:		31850 NORTHWESTERN HGWY
		CITY:			FARMINGTON HILLS
		STATE:			MI
		ZIP:			48334
		BUSINESS PHONE:		8107374190

	MAIL ADDRESS:	
		STREET 1:		31850 NORTHWESTERN HIGHWAY
		CITY:			FARMINGTON HILLS
		STATE:			MI
		ZIP:			48334
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v310723_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of earliest event reported):
May 7, 2012</P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGREE REALTY CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified
in its charter)&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Maryland</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1-12928</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">38-3148187</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of incorporation)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: -.5in; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: -.5in; text-autospace: none; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: -.5in; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: -.5in; text-autospace: none; text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>31850 Northwestern Highway</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Farmington Hills, MI 48334</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant's telephone number, including
area code: <B>(248) 737-4190</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Not Applicable</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  <FONT STYLE="font-family: Wingdings">&#168;</FONT>
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>I</B></FONT><B>tem<FONT STYLE="text-transform: uppercase">
5.07&#9;</FONT>Submission of Matters to a Vote of Security Holders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 7, 2012, Agree Realty Corporation
(the &ldquo;Company&rdquo;) held its annual meeting of stockholders. The matters on which the stockholders voted, in person or
by proxy, were:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(i)</TD><TD STYLE="text-align: justify">for the election of three directors of the Company
to serve until the annual meeting of stockholders in 2015;</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">the ratification of the appointment of Baker Tilly
Virchow Krause, LLP as the Company&rsquo;s independent registered public accounting firm for 2012; and</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">the approval, by non-binding vote, of executive compensation
as disclosed in the Company&rsquo;s proxy statement for the 2012 annual meeting of stockholders pursuant to the compensation disclosure
rules of the Securities and Exchange Commission including the Compensation Discussion and Analysis, the compensation tables and
other related disclosure.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The three 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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in"><U>Election of Directors</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%; border-bottom: windowtext 1pt solid; padding-top: 6pt; font-weight: bold; text-align: center">Director</TD>
    <TD STYLE="width: 2%; padding-top: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid; padding-top: 6pt; font-weight: bold; text-align: center">Votes For</TD>
    <TD STYLE="width: 2%; padding-top: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: windowtext 1pt solid; padding-top: 6pt; font-weight: bold; text-align: center">Votes Withheld</TD>
    <TD STYLE="width: 2%; padding-top: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 17%; border-bottom: windowtext 1pt solid; padding-top: 6pt; font-weight: bold; text-align: center">Abstentions</TD>
    <TD STYLE="width: 2%; padding-top: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: windowtext 1pt solid; padding-top: 6pt; font-weight: bold; text-align: center">Broker Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-top: 6pt">Richard Agree</TD>
    <TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">4,508,419</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">2,483,272</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">0</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">3,571,187</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-top: 6pt">Michael Rotchford</TD>
    <TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">5,289,392</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">1,702,299</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">0</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">3,571,187</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-top: 6pt">John Rakolta, Jr.</TD>
    <TD STYLE="padding-top: 6pt">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">4,058,334</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">2,933,357</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">0</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; text-align: center">3,571,187</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in"><U>Ratification of Appointment of Independent Registered
Public Accounting Firm</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 22%; border-bottom: windowtext 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">Votes For</TD>
    <TD STYLE="width: 3%; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: windowtext 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">Votes Against</TD>
    <TD STYLE="width: 3%; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 21%; border-bottom: windowtext 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">Abstentions</TD>
    <TD STYLE="width: 3%; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; border-bottom: windowtext 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">Broker Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">10,516,493</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">31,321</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">15,064</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">0</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in"><U>Approval, by non-binding vote, of Executive
Compensation</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 22%; border-bottom: windowtext 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">Votes For</TD>
    <TD STYLE="width: 3%; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: windowtext 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">Votes Against</TD>
    <TD STYLE="width: 3%; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 21%; border-bottom: windowtext 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">Abstentions</TD>
    <TD STYLE="width: 3%; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; border-bottom: windowtext 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-weight: bold; text-align: center">Broker Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">6,549,946</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">339,229</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">102,516</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center">3,571,187</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD COLSPAN="2" STYLE="padding: 0; font-weight: bold; text-align: justify; text-indent: 0">AGREE REALTY CORPORATION</TD></TR>
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    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Dated:&nbsp; May 8, 2012</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">BY:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding: 0; font-weight: bold; text-align: justify; text-indent: 0"><B>/s/ Alan D. Maximiuk</B></TD></TR>
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    <TD STYLE="padding: 0; text-align: justify; tab-stops: 0in; text-autospace: none; text-indent: 0">Alan D. Maximiuk</TD></TR>
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    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Vice President, Chief Financial Officer and Secretary</TD></TR>
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