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United States

Agree Realty Corp (ADC)

ADC on New York Consolidated

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26 May 2017
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Summary

Name Age Since Current Position

Richard Agree

73 2013 Executive Chairman of the Board

Joey Agree

38 2013 President, Chief Executive Officer, Director

Matthew Partridge

33 2016 Chief Financial Officer, Executive Vice President, Secretary

Laith Hermiz

46 2015 Chief Operating Officer, Executive Vice President

Merrie Frankel

62 2016 Independent Director

Farris Kalil

77 1993 Independent Director

John Rakolta

69 2011 Independent Director

Jerome Rossi

73 2015 Independent Director

William Rubenfaer

72 2007 Independent Director

Leon Schurgin

75 2004 Independent Director

Biographies

Name Description

Richard Agree

Mr. Richard Agree is Executive Chairman of the Board and Director of Agree Realty Corporation. He has been the Executive Chairman of the Board since January 2013. From December 1993 until January 2013, he was our Chief Executive Officer and Chairman of the Board. Prior thereto, he worked as managing partner of the general partnerships which held our properties prior to the formation of our Company and the initial public offering and was President of the predecessor company since 1971. Mr. Richard Agree has managed and overseen the development of over eight million square feet of retail real estate during the past 45 years. He is a graduate of the Detroit College of Law, a member of the State Bar of Michigan and the International Council of Shopping Centers. Mr. Richard Agree is the father of Mr. Joel Agree. The Board has determined that it is in the best interests of our Company and our stockholders for Mr. Richard Agree, in light of his extensive company-specific operational, market and finance experience as the founder and former Chief Executive Officer of our Company, his leadership abilities and his expertise in the ownership, development, acquisition and management of retail real estate net leased to national tenants, to continue to serve as a director of the Board.

Joey Agree

Mr. Joey Agree is the President, Chief Executive Officer, Director of Agree Realty Corporation. He has been our President and a Director since June 2009. He was appointed as Chief Executive Officer in January 2013, and from June 2009 to that date he served as Chief Operating Officer. Prior to being promoted to President and Chief Operating Officer, from January 2006 to June 2009, Mr. Joel Agree served as our Executive Vice President. He is a member of the State Bar of Michigan and the International Council of Shopping Centers. He holds a Juris Doctorate degree from Wayne State University Law School and a Bachelor of Arts degree in Political Science from the University of Michigan. Joel Agree is the son of Richard Agree. The Board has determined that it is in the best interests of our Company and our stockholders for Mr. Joel Agree, in light of his day-to-day company-specific operational, management and market experience through his position as President and Chief Executive Officer of our Company, to continue to serve as a director of the Board.

Matthew Partridge

Mr. Matthew M. Partridge is Chief Financial Officer, Executive Vice President, Secretary of the Company. He has been our Chief Financial Officer, Secretary and Executive Vice President since January 2016. Prior to joining the Company, Mr. Partridge served as Vice President of Finance at Pebblebrook Hotel Trust from January 2010 to January 2016. Prior to joining Pebblebrook Hotel Trust, Mr. Partridge was employed by Phillips Edison & Co. and Huron Consulting Group. Mr. Partridge is a member of NAREIT and the International Council of Shopping Centers, and holds a Bachelors of Business Administration degree in Finance from Eastern Michigan University and an MBA from Xavier University.

Laith Hermiz

Mr. Laith M. Hermiz is Chief Operating Officer, Executive Vice President of the Company. He has been our Executive Vice President since April 2010 and our Chief Operating Officer since November 2015. Prior to joining our Company, Mr. Hermiz served as Vice President Development/Redevelopment of Ramco-Gershenson Properties Trust from July 2007 to April 2010. Previously, Mr. Hermiz was Managing Director of Joseph Freed and Associates LLC from April 2004 to July 2007. Mr. Hermiz holds a Bachelor of Science degree from Loyola University — Chicago and a Juris Doctorate degree from University of Detroit-Mercy School of Law. He is a licensed attorney and real estate broker in the State of Michigan and is an active member of the State Bar of Michigan and the International Council of Shopping Centers.

Merrie Frankel

Ms. Merrie S. Frankel has been appointed as an Independent Director of the Company. She has been a Director of our Company since October 2016. Ms. Frankel is currently President of Minerva Realty Consultants, LLC, a REIT and ratings advisory firm, and an adjunct professor at Columbia University’s Graduate School of Architecture, Planning and Preservation and New York University’s Schack Institute of Real Estate. From November 1998 to August 2016, she was Vice President and Senior Credit Officer at Moody’s Investors Service in the Commercial Real Estate Finance Group, where she was responsible for rating real estate investment trusts (“REITs”) and real estate operating companies. Prior to her time at Moody’s, she was Senior Vice President and Director of Portfolio Management for the Argo Funds and held numerous positions within the real estate industry at notable companies including Ernst & Young, Cushman & Wakefield, J.P. Morgan Securities and Salomon Brothers Inc. Ms. Frankel holds J.D. and M.B.A. degrees from Hofstra University and graduated with a B.A. in English from the University of Pennsylvania with numerous honors. Among her industry affiliations, she is a board member and treasurer of the Women Executives in Real Estate Charitable Fund, has served as a Trustee and chaired the New York District Council for the Urban Land Institute and chaired the nominating committee for the Financial Women’s Association of New York.

Farris Kalil

Mr. Farris G. Kalil is an Independent Director of Agree Realty Corporation. He has been a Director of our Company since December 1993. Mr. Kalil has been a financial consultant since June 1999. From November 1996 until his retirement in May 1999, Mr. Kalil served as Director of Business Development for the Commercial Lending Division of Michigan National Bank, a national banking institution. From May 1994 to November 1996, Mr. Kalil served as a Senior Vice President for Commercial Lending at First of America Bank — Southeast Michigan, N.A. Prior thereto, Mr. Kalil served as a Senior Vice President of Michigan National Bank where he headed the Commercial Real Estate Division, Corporate Special Loans, Real Estate Asset Management/Real Estate Owned Group, and the Government Insured Multi-Family Department. Mr. Kalil received his B.S. from Wayne State University and continued his education at the Northwestern University School of Mortgage Banking. The Board has determined that it is in the best interests of our Company and our stockholders for Mr. Kalil, in light of his corporate accounting expertise and his extensive banking and finance experience, including his experience as head of the Commercial Real Estate Division, Corporate Special Loans, Real Estate Asset Management/Real Estate Owned Group at Michigan National Bank, to continue to serve as a director of the Board, subject to stockholder approval at this annual meeting.

John Rakolta

Mr. John Rakolta, Jr., is an Independent Director of Agree Realty Corporation. He has been a Director of our Company since August 2011. Mr. Rakolta is the chairman and chief executive officer of Walbridge, a “Top 50” privately-held construction company founded in Detroit in 1916. Mr. Rakolta serves as a director on the boards of The Community Foundation for Southeast Michigan, Detroit Downtown Partnership and Business Leaders for Michigan. He is an Executive Committee member of the Michigan Economic Development Corporation. Mr. Rakolta was appointed Romania’s Honorary Consul General to the United States in 1998. He received a Bachelor of Science degree in Civil Engineering from Marquette University in 1970. The Board has determined that it is in the best interests of our Company and our stockholders for Mr. Rakolta, in light of his strong executive background in business and construction and his leadership skills to continue to serve as a director of the Board.

Jerome Rossi

Mr. Jerome R. Rossi is an Independent Director of Agree Realty Corporation. He has been a Director of our Company since January 2015. Mr. Rossi is the Chief Executive Officer of R&R Consulting and was previously Senior Executive Vice President and Group President of The TJX Companies from 2005 until January 2015. He served as Chief Operating Officer of HomeGoods from 2000 to 2005, Executive Vice President and Chief Operating Officer of The Marmaxx Group from 1995 to 2000 and President and Chief Executive Officer of Marshalls from 1990 to 1995. Mr. Rossi began his career in 1967 as a Certified Public Accountant with Arthur Young & Co. Mr. Rossi currently serves on the Board of Directors of Home Base, the Board of Advisors at Bentley College, the Board of Directors at Bethany Hill School, the Board of Overseers at Newton Wellesley Hospital, the Board of Overseers at Beth Israel Hospital and the Board of Directors of The National Domestic Violence Hotline. The Board has determined that it is in the best interests of our Company and our stockholders for Mr. Rossi, in light of his extensive career as a senior executive, deep knowledge of retail real estate and retail operations, strong leadership capabilities and public company experience, to continue to serve as a director of the Board.

William Rubenfaer

Mr. William S. Rubenfaer is an Independent Director of Agree Realty Corporation. He has been a Director of our Company since December 2007. He is a partner in the certified public accounting firm of Rubenfaer & Associates, P.C., which he founded in 1979. He is also the managing member of Sage Capital Management, L.L.C., a registered investment advisory firm. He is active in community activities, including serving as a past president and board member of the Bloomfield Hills, Michigan School District. Mr. Rubenfaer is a certified public accountant and a member of the American Institute of Certified Public Accountants and the Michigan Association of CPAs. The Board has determined that it is in the best interests of our Company and our stockholders for Mr. Rubenfaer, in light of his extensive corporate accounting, tax and finance experience and his many years of local community service activities, to continue to serve as a director of the Board.

Leon Schurgin

Mr. Leon M. Schurgin is an Independent Director of Agree Realty Corporation. He has been a Director of our Company since March 2004. He previously served as our Counsel to the law firm of Dawda, Mann, Mulcahy & Sadler, PLC. From 2007 to September 2012, he was a member in the law firm of Bodman, PLC, one of Michigan’s largest law firms. Mr. Schurgin holds a Bachelor’s Degree in Business Administration from the University of Michigan, a Juris Doctorate Degree, Magna Cum Laude, from Wayne State University and a Masters of Law Degree in Taxation from Wayne State University. He is also a certified public accountant. The Board has determined that it is in the best interests of our Company and our stockholders for Mr. Schurgin, in light of his significant legal experience in the acquisition, development, financing and sale of shopping centers and free standing commercial properties and his accounting experience as a certified public accountant, to continue to serve as a director of the Board.

Basic Compensation

Name Fiscal Year Total

Richard Agree

465,009

Joey Agree

3,696,630

Matthew Partridge

747,409

Laith Hermiz

639,225

Merrie Frankel

7,515

Farris Kalil

34,000

John Rakolta

30,010

Jerome Rossi

30,010

William Rubenfaer

30,010

Leon Schurgin

30,010
As Of  30 Dec 2016