Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 54

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 54
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;

• 25% of the applicable targeted value in performance-based RSUs; and

• 25% of the applicable targeted value in SARs.

During the last fiscal year, the Compensation Committee did not take material nonpublic information into account when determining the timingor terms of equity awards,except that Farmer Mac does not grantequity awards during periods in which there is material nonpublic information about Farmer Mac, including during blackout periods or at any time during the period beginning four business days before and ending one business day after the filing of any Form 10-Q or 10-K, or the filing or furnishing of a Form 8-K that discloses material nonpublic information. Farmer Mac has not timedthe disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.

The performance-based RSUs granted in March 2024 are linked to Farmer Mac's performance so that the RSUs will vest on March 31, 2027 only if Farmer Mac achieves specified long-term performance goals for 3-year cumulative Earnings as of December 31, 2026, subject to “gatekeeper” metrics related to capital and asset quality. These performance-based RSUs may increase or decrease above or below the targeted value at the time of grant, depending on actual performance, with the potential payout ranging from 0% to 200% of the target number of shares determined on the grant date. The Compensation Committee established the long-term incentive performance goals to reward achievements directly related to Farmer Mac's strategic plan to grow Earnings while maintaining safety and soundness.

The Compensation Committee continues to believe that grants of SARs provide a valuable way to link the executives' long-term incentive compensation to the interests of Farmer Mac's stockholders. SARs only have realizable value to the extent that the stockholders have received an increase in value while the SARs are outstanding. See "Executive Compensation Governance—Compensation Discussion and Analysis—Total Compensation Elements—Long-Term Incentive Compensation" for more information about the equity-based grants to named executive officers in 2024.

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| EXECUTIVE COMPENSATION GOVERNANCE |

#### Total Compensation Elements
The total compensation package for the named executive officers consists of four elements to offer a balanced compensation package:

• base salary;

• annual (short-term) cash incentive compensation;

• long-term, equity-based incentive compensation; and

• retirement and other benefits, most of which are similarly provided to all other full-time employees.

The Compensation Committee believes that this reflects