Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 63

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 63
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 volume for 2025 approximately 6% higher than 2024 result |     | average outstanding business volume for 2025 approximately 12% higher than 2024 result |
| Ratio of Substandard Assets to Regulatory Capital |     | 15%    |     | less than 50%                                       (changed from 40% for 2024)       |     | less than 30%                                            (changed from 20% for 2024)  |     | less than 10% (same as for 2024)                                                       |
| Leadership and Strategic Performance              |     | 35%    |     | Evaluation by Compensation Committee of Performance                                   |     | Evaluation by Compensation Committee of Performance                                   |     | Evaluation by Compensation Committee of Performance                                    |
| Total                                             |     | 100%   |     |                                                                                       |     |                                                                                       |     |                                                                                        |

The Compensation Committee retains discretion to award no annual cash incentive pay in appropriate circumstances regardless of the achievement against corporate performance targets.

Long-Term Incentive Compensation . The Compensation Committee is keenly aware of the need to discourage excessive risk taking by Farmer Mac's executives while rewarding growth in stockholder value. The Compensation Committee therefore uses a mix of equity compensation for executive officers designed to reward performance and properly align the interests of executive officers with the long-term interests of stockholders through a balance of stock-based awards. The Compensation Committee believes that competitive long-term incentive awards also help retain executives over the longer term. In 2024, long-term incentive compensation consisted of grants of:

• time-based RSUs;

• performance-based RSUs; and

• SARs with an exercise price equal to the fair market value of Farmer Mac's Class C Non-Voting Common Stock on the date of grant.

The Compensation Committee considers the annual value of all components of the total compensation package (including base salary, annual incentive cash compensation, long-term incentive pay, and retirement benefits and perquisites) when determining the form and level of long-term equity grants. Although there is no formula for allocation, the long-term incentive grants are considered as part of the overall compensation package. When considering the competitive market, the Compensation Committee looks at the targeted annual value of long-term grants. The targeted annual values reflect the intended compensation for that year, so prior equity grants are considered only if there is a concern with maintaining market competitiveness.

In March 2024, the Compensation Committee granted time-based RSUs, performance-based RSUs, and SARs to all five named executive officers after the