Company: AGM-PH
Filing Date: 2025-09-30
Form Type: 8-K
Source: 0000845877-25-000244
Chunk: 2

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-09-30
Form: 8-K
Item: Item 5.02
Chunk 2
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 of: (a) $400,000; and (b) his incentive salary

target prorated for the number of days he is employed by Farmer Mac in the applicable year; and (2) his incentive salary for performance in 2027 (as applicable) will be $200,000, prorated for the number of days Mr. Nordholm is employed by Farmer Mac in 2027.

• The New Amendment provides for the grant of a long-term incentive equity award to Mr. Nordholm in approximately March 2026 at the time that long-term incentive awards are made to Farmer Mac’s other senior executives. That grant shall be in the form of restricted stock units (“ RSUs”) of Farmer Mac’s Class C non-voting common stock valued at approximately $1,500,000 under the terms of Farmer Mac’s Amended and Restated 2008 Omnibus Incentive Plan and the RSU award agreement. Those RSUs will “cliff-vest” on March 31, 2027, subject to Farmer Mac not having terminated Mr. Nordholm’s employment for “cause” (as defined in the Nordholm Employment Agreement) or Mr. Nordholm not having voluntarily terminated his employment before March 31, 2027 (other than a termination by mutual agreement or a termination as a result of Mr. Nordholm’s death or disability). If Mr. Nordholm’s employment is terminated by mutual agreement or as a result of Mr. Nordholm’s death or disability before March 31, 2027, a prorated number of RSUs will vest based on the number of days Mr. Nordholm was employed by Farmer Mac after March 31, 2026 through the date of termination of employment. The award agreement for these RSUs to be granted to Mr. Nordholm in March 2026 will not include the provision customary for Farmer Mac’s grants of other RSU awards that the award will continue to vest as scheduled upon retirement from Farmer Mac after reaching the age of 55 and having a combination of age and service of at least 65.

• The New Amendment clarifies that Mr. Nordholm will not be entitled to receive an award of long-term incentive compensation in 2027 even though other senior executives of Farmer Mac may receive annual long-term incentive grants in 2027.

• The New Amendment provides for a new concept of “termination by mutual agreement” - upon 30 days’ prior written notice from either party, Farmer Mac and Mr. Nordholm may mutually