Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 213

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 4
Chunk 213
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8-K:

Class C Non-Voting Common Stock. Under Farmer Mac's policy that permits directors of Farmer Mac to elect to receive shares of Class C non-voting common stock in lieu of their cash retainers, Farmer Mac issued an aggregate of 401 shares of its Class C non-voting common stock in January 2025 to the eight directors who elected to receive stock in lieu of their cash retainers. Farmer Mac calculated the number of shares issued to the directors based on a price of $196.95 per share, which was the closing price of the Class C non-voting common stock on December 31, 2024 (the last trading day of the previous quarter) as reported by the New York Stock Exchange.

In addition to the March 6, 2025 grants of stock appreciation rights ("SARs") and restricted stock units

("RSUs") to the five named executive officers and fourteen directors reported in Farmer Mac's Current

Report on Form 8-K filed with the SEC on March 12, 2025, Farmer Mac made the following additional

grants under its Amended and Restated 2008 Omnibus Incentive Plan on March 6, 2025 to other

individuals as incentive compensation:

• an aggregate of 2,541 SARs to four executive officers, which have the same terms as the SARs granted to the named executive officers on March 6, 2025 – a grant price of $202.01 per share, an expiration date of March 6, 2035, and scheduled to vest in three equal annual installments on each of March 31, 2026, March 31, 2027, and March 31, 2028;

• an aggregate of 765 target number of performance-vested RSUs to four executive officers, which have the same terms as the performance-vested RSUs granted to the named executive officers on March 6, 2025 and are eligible for "cliff" vesting on March 31, 2028 in an amount between 0% and 200% of the target number of RSUs granted based on performance objectives related to cumulative core earnings before credit, subject to "gatekeeper" metrics related to capital and asset quality, for the performance period of January 1, 2025 to December 31, 2027;

103

• an aggregate of 1,530 time-vested RSUs to four executive officers scheduled to vest in three equal annual