Adams’ players had started the month third-bottom of the table, two points away from escaping the drop zone.
However, they picked up three wins from four after the international break in beating Oxford United, Burton Albion and Charlton Athletic.
The Shrimps also earned a draw against Portsmouth, meaning that 10-point haul across the month saw them eventually finish two places and as many points clear of the relegation spots.
Should Adams pick up the prize, it would be his fourth monthly award after winning two at Plymouth Argyle and once with the Shrimps.
The latter honour came when he led Morecambe to five wins from six in December 2020, on their way to winning promotion via the play-offs at Wembley the following May.
Joining Adams on the shortlist are three managers who have had differing experiences in this season’s play-offs.
Gareth Ainsworth and Alex Neil, whose Wycombe Wanderers and Sunderland teams meet in the final at Wembley a week on Saturday, are nominated alongside Darren Moore, whose Sheffield Wednesday squad lost to Sunderland in their semi-final.
Ainsworth’s place on the shortlist came after an April where his players collected 17 points from seven matches, as was the case with Neil.
Moore had guided the Owls to a play-off spot after a run of 16 points from seven games.
The winner will be announced at 6am this Friday, May 13.