Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 59

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 59
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 Base Salary |     | 2025 Annual 
 Base Salary |     | 2025 Annual Merit Increase in Dollars |     | 2025 Annual Merit Increase as a Percentage |
| Aparna Ramesh        |     |    $540,000 |     |    $555,000 |     |                               $15,000 |     | 2.8%                                       |
| Zachary N. Carpenter |     |    $465,000 |     |    $475,000 |     |                               $10,000 |     | 2.2%                                       |
| Marc J. Crady        |     |    $415,000 |     |    $425,000 |     |                               $10,000 |     | 2.4%                                       |

The Compensation Committee reviewed the base salaries of Mr. Nordholm and Mr. Mullery in early 2025 but did not increase their base salaries for 2025 above the 2024 levels of $800,000 for Mr. Nordholm and $500,000 for Mr. Mullery.

Annual Cash Incentive Compensation . We provide annual cash incentive compensation to motivate and reward performance by the executive officers. We measure this performance by comparing Farmer Mac's results against specified short-term goals established by the Compensation Committee and reviewed by the Board. In determining the performance goals and weightings for the year, the Compensation Committee considers competitive practices for incentive design and seeks to encourage prudent risk-taking within Board-established parameters by balancing growth in business volume, earnings, and revenues with risk management objectives. Consistent with this philosophy, the Compensation Committee chose performance goals and weightings for 2024 that it believed struck the appropriate balance among the corporate goals of earnings (25% weight), revenues (15% weight), business volume (10% weight), and asset quality (15% weight), as well as an individual's leadership and strategic performance (35% weight). For short-term incentive compensation for performance in 2024, the Compensation Committee decided to maintain the same design and metrics used to determine short-term incentive compensation for 2023 while calibrating the threshold, target, and maximum amounts with appropriate increases over 2023 results and consistent with Farmer Mac's 2024 business plan.

These goals most closely represent the business strategies and objectives established by the Board and management in Farmer Mac's business plan for 2024 and seek to reward responsible growth by balancing the need for growth in earnings, revenues, and business volume; the maintenance of disciplined underwriting and