Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 76

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 76
---
ive Compensation—Performance-Based RSUs Granted in 2024." Performance-based RSUs that vest are settled in shares of Farmer Mac's Class C Non-Voting Common Stock.

3 Represents the number of SARs granted during 2024. The SARs granted to Ms. Ramesh and Messrs. Nordholm, Carpenter, Mullery, and Crady in March 2024 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 those individuals are still employed by Farmer Mac on those dates or satisfy the retirement provisions of the related award agreements.

4 The exercise price or grant price of SARs is the closing price for a share of Class C Non-Voting Common Stock on the date of grant as reported by the NYSE.

5 Amounts shown represent the grant date fair values of the equity awards granted to the named executive officers in 2024. For RSUs, the fair value is the market value of the underlying stock on the grant date (which is the same price as the exercise price for SARs). For SARs granted in March 2024, the fair value on the grant date has been estimated using the Black-Scholes option pricing model with the assumptions set forth in Table 9.5 of Note 9 to the financial statements in Farmer Mac's Annual Report on Form 10-K for the year ended December 31, 2024, resulting in a value of approximately $61.32 per SAR.

| 49 |

| EXECUTIVE COMPENSATION GOVERNANCE |

#### Outstanding Equity Awards at Fiscal Year End
There were no unexercised stock options previously granted to executive officers as of December 31, 2024.

The table below provides information about unexercised SARs previously granted to Ms. Ramesh and Messrs. Nordholm, Carpenter, Mullery, and Crady as of December 31, 2024.

|                      |     |        |     |                                       SAR Awards |     |       |     |                                                  |     |        |     |                |     |                   |     |                   |
| Name                 |     |        |     | Number of Securities Underlying Unexercised SARs 
                                                # 
                                      Exercisable |     |       |     | Number of Securities Underlying Unexercised SARs 
                                                #