Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 50

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 50
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 levels, especially for positions that are not the Chief Executive Officer or the Chief Financial Officer. Our compensation program aims to reward individuals for achieving our goals and to attract, retain, and motivate our executive team, whose skills are critical to the current and long-term success of Farmer Mac. In establishing compensation for 2024, the Compensation Committee examined pay data from the applicable peer group to stay current with market pay practices and design trends and to assess the competitiveness of overall compensation, but the Committee did not rely only on this data. We use data from the peer groups for reference and informational purposes but also consider factors such as proprietary broader market survey data provided by our compensation consultants and our executive officers' individual performance, experience, and scope of role given our unique strategy and mission. We do not specifically weight any of these criteria in making compensation decisions, nor do we target a specific percentile of any segment or peer group. We manage total compensation to be competitive and vary the specific components of compensation to achieve our total compensation philosophy. For each named executive officer other than Farmer Mac's Chief Executive Officer, the Compensation Committee considered recommendations of the Chief Executive Officer along with the above-described factors in establishing compensation for 2024.

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| EXECUTIVE COMPENSATION GOVERNANCE |

#### Approach to Incentive Compensation
Farmer Mac strives to deliver a significant portion of total compensation for executive officers through both short-term and long-term incentives that vary with actual business and personal performance.

Short-Term Incentive Compensation . The Compensation Committee establishes performance measures under the short-term incentive plan each year in an effort to balance growth in business volume, earnings, and revenues with prudent risk management objectives. For 2024, the Compensation Committee established four performance measures to quantify these objectives:

• Business Volume

• Earnings

• Total Revenues

• Ratio of Substandard Assets to Regulatory Capital

The Compensation Committee has also included a discretionary "Leadership and Strategic Performance" measure for each named executive officer, as discussed on page 41.

In determining whether the targets are met, the Compensation Committee defines the performance measures as follows:

• "Business Volume": as of any date of determination, the total outstanding amount of Farmer Mac's on- and off-balance sheet program assets attributable to Farmer Mac's lines of business, including any subordinated or non-guaranteed tranches of securitized assets and loans serviced for others but excluding any assets held in Farmer Mac's liquidity investment portfolio. The Business Volume performance measure used to determine short-term incentive compensation for 202