Company: AGM-PH
Filing Date: 2025-03-26
Form Type: 8-K
Source: 0000845877-25-000097
Chunk: 0

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-03-26
Form: 8-K
Item: Item 5.02
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Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) Election of Directors

Daniel L. Shaw of Edgar, Nebraska became a member of the Board of Directors (“ Board”) of the Federal Agricultural Mortgage Corporation (“ Farmer Mac”) on March 26, 2025. The Board appointed Mr. Shaw to fill the vacancy created by the death of former Board member Roy H. Tiarks in February 2025. Mr. Tiarks first joined Farmer Mac’s Board in May 2021 and was re-elected to the Board by the holders of Class B voting common stock in May 2024 for a term ending on the date of Farmer Mac’s next annual meeting of stockholders in May 2025. Mr. Shaw will serve the unexpired portion of Mr. Tiarks’ term. Under Farmer Mac’s statutory charter, Farmer Mac’s Board consists of fifteen members: five elected each year by the holders of Class A voting common stock, five elected each year by the holders of Class B voting common stock, and five appointed by the President of the United States with the advice and consent of the U. S. Senate. The Board has appointed Mr. Shaw to serve on the Board’s Enterprise Risk Committee, Business Development and Business Strategy Committee, and Credit Committee.

Mr. Shaw, age 69, has owned and operated Shaw Farms, LLC in Edgar, Nebraska since 1975, raising corn, soybeans, wheat, and a commercial cow-calf herd. He has also owned and managed a local grain elevator since 2006 and operated a commercial poultry breeder barn since 2017. Mr. Shaw previously served on Farmer Mac’s Board of Directors from December 2019 through May 2021. He also served on the board of directors of AgriBank Farm Credit Bank from 2014 to 2021 (including as chair of the Risk Management Committee from 2016 to 2018), and on the board of directors of Farm Credit Services of America from 2007 to 2014 (including as chair of the Compensation Committee and Risk Work Group, a member of the Business Risk Committee, and 2-year terms as both chair and vice-chair).

There are no arrangements or understandings between Mr. Shaw and any other persons pursuant to which he was selected as a director of Farmer Mac. There are also no family relationships between Mr. Shaw and any director or executive officer of Farmer Mac, and Mr