Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 35

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 35
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 on the date of acquisition.

On March 5, 2024, each of the 15 sitting Board members was granted 373 time-based RSUs representing shares of Class C Non-Voting Common Stock as an annual equity award. The number of RSUs granted was calculated in accordance with the Board's policy on equity compensation grants using a targeted value of $69,000 based on the average stock price over the previous 30 calendar days ending February 27, 2024 (seven calendar days before the grant date). Based on the stock price at the time of these grants, the actual value on March 5, 2024 was $74,055 to each sitting director. On May 16, 2024, Mr. Plagge and Mr. Riel were elected to the Board and each received a pro rata grant of 305 RSUs based on the date they joined the Board. Those grants of RSUs each had a fair value of $55,327 on the date of grant.

All of the RSUs granted to each director in either March 2024 or May 2024 vested on March 31, 2025 other than the RSUs granted to former directors Brack, Dobrinski, and Tiarks, which vested as follows:

• On May 16, 2024, the date on which Mr. Brack and Mr. Dobrinski retired from the Board, they each vested in 70 shares of Class C Non-Voting Common Stock based on the 373 RSUs granted to them in March 2024, with the remaining 303 shares forfeited.

• On February 4, 2025, the date of Mr. Tiarks' death, his estate vested in 321 shares of Cla ss C Non-Voting Common Stock based on the 373 RSUs granted to him in March 2024, with the remaining 52 shares forfeited.

The following table sets forth the compensation awarded during 2024 to each person who served on the Board in 2024:

| Name                  |     | Fees Earned or Paid in Cash1 
                          ($) |     | Stock Awards2 
           ($) |     | All Other Compensation3 
                     ($) |     |   Total 
     ($) |
| Dennis L. Brack4      |     |                       25,970 |     |        74,055 |     |                   2,894 |     | 102,919 |
| Chester J. Culver     |     |                       72