Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 64

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 64
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 filing of Farmer Mac's Annual Report on Form 10-K for fiscal year 2023. In setting 2024 equity awards, the Compensation Committee determined a targeted value for the awards to each individual that was competitive and reasonable when compared to Farmer Mac's peer group and the practices of the broader banking and financial services industry, as well as consistent with Farmer Mac's performance and compensation philosophy.

• The overall targeted value for the March 2024 regular annual equity awards to Mr. Nordholm of $1,450,000 increased by $250,000 compared to the targeted value of his 2023 regular equity awards (excluding the special one-time incentive equity award of 15,000 performance-based RSUs granted in March 2023 that was designed to retain Mr. Nordholm as Farmer Mac’s President and Chief Executive Officer through the end of the term of his amended employment agreement, as well as to promote the achievement of specified performance goals).

• The overall targeted value for the March 2024 equity awards to Ms. Ramesh of $450,000 increased by $50,000 compared to the targeted value of her 2023 equity awards.

• The overall targeted value for the March 2024 equity awards to Mr. Carpenter of $450,000 increased by $50,000 compared to the targeted value of his 2023 equity awards.

• The overall targeted value for the March 2024 equity awards to Mr. Mullery of $300,000 remained the same as the targeted value of his 2023 equity awards.

• The overall targeted value for the March 2024 equity awards to Mr. Crady of $190,000 increased by $15,000 compared to the targeted value of his 2023 equity awards.

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| EXECUTIVE COMPENSATION GOVERNANCE |

Time-Based RSUs Granted in 2024

The Compensation Committee granted each of the named executive officers time-based RSUs in March 2024 that vest in three equal annual installments, the first of which vested on March 31, 2025. The second and third installments of those grants will vest on March 31, 2026 and March 31, 2027, respectively, if the individuals are still employed by Farmer Mac on those dates (or have satisfied the retirement provisions of the related award agreement). Because Mr. Nordholm and Mr. Mullery have already satisfied the retirement provisions of the award agreements for the 2024 grants of time-based RSUs, they will vest in