Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 69

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 69
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 of year114,353 $120.13 100,025 $91.84 103,891 $78.55 Granted39,333 197.52 59,745 135.56 38,668 120.14 Canceled(4,854)160.27 (62)88.68 (2,711)97.44 Vested and issued(51,893)107.33 (45,355)78.12 (39,823)84.25 Outstanding, end of year96,939 156.37 114,353 120.13 100,025 91.84 The cancellations of non-vested restricted stock units during the years ended December 31, 2024, 2023, and 2022 were due to unvested awards terminating in accordance with the provisions of the applicable equity compensation plans or award agreements upon directors' or employees' departures from Farmer Mac.  Cash is not received from exercises of SARs or the vesting and issuance of restricted stock units. During the years ended December 31, 2024, 2023, and 2022, the reduction of income taxes payable as a result of the deduction for the exercise of SARs and the vesting of restricted stock units was $3.0 million, $1.7 million, and $1.2 million, respectively. During the years ended December 31, 2024, 2023, and 2022, Farmer Mac recorded a net decrease to additional paid-in capital of $5.4 million, $3.1 million, and $1.9 million, respectively, related to stock-based compensation awards.

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As of December 31, 2024, Farmer Mac had no stock options outstanding. The following tables summarize information about SARs and non-vested restricted stock units outstanding as of December 31, 2024:Table 9.4SARs: Outstanding ExercisableVested or Expected to VestRange of Exercise PricesSARsWeighted-Average Remaining Contractual LifeSARsWeighted-Average Remaining Contractual LifeSARsWeighted-Average Remaining Contractual Life $25.00 - $39.994,000 0.2 years4,000 0.2 years4,000 0.2 years40.00 - 54.99—