Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 91

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 91
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 the most recently completed fiscal year. Farmer Mac identified its median employee for 2024 by examining its payroll records for the year-to-date gross earnings of all individuals, excluding Farmer Mac's President and Chief Executive Officer, who were employed by Farmer Mac on December 13, 2024, the second to last pay date of the year ("determination date"), which consisted of both full-time and part-time permanent employees and temporary/seasonal employees such as paid interns. Farmer Mac is not using the same median employee in its pay ratio calculation from 2023 because that employee has already been used for three consecutive years. Excluding Farmer Mac's President and Chief Executive Officer, Farmer Mac employed 203 individuals as of the determination date. The year-to-date gross earnings consisted of the following for each individual employed by Farmer Mac as of the determination date: base salary, annual short-term incentive compensation received for service during 2024, the grant date fair value of any equity award granted during 2024, dividend equivalents paid in cash on RSUs that vested in 2024, and employer contributions for 2024 under Farmer Mac's nonqualified deferred compensation plan.

Ratio of Annual Total Compensation of CEO to Median Employee

Farmer Mac's President and Chief Executive Officer, Mr. Nordholm, served in that role for all of 2024, and his total annual compensation is set forth in the Summary Compensation Table in this proxy statement. The annual total compensation for the median employee has been calculated using the same methodology used for our named executive officers in the Summary Compensation Table in this proxy statement. The calculations of annual total compensation for Mr. Nordholm and Farmer Mac's median employee are $3,260,876 and $165,000, respectively. Thus, Farmer Mac's reasonable estimate of the 2024 CEO to median employee pay ratio is 20:1. In light of the many different methodologies, assumptions, adjustments, and estimates that companies may apply under the regulations implemented by the SEC under the Dodd-Frank Act, this information should not be used as a basis for comparison to other companies.

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| EXECUTIVE COMPENSATION GOVERNANCE |

#### Pay Versus Performance
As described in the CD&A, Farmer Mac's executive compensation program is based on a pay-for-performance approach, meaning that a significant portion of executive compensation is variable and closely tied to both individual performance and Farmer Mac's financial performance. The table below provides standardized data on executive compensation in a format prescribed by the SEC, which is intended to be easier