Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 68

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 68
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 compensation, to Farmer Mac's directors, officers, and employees. SARs awarded to officers and employees vest annually in thirds. Farmer Mac has not granted SARs to directors since 2008. If not exercised or cancelled earlier due to the termination of employment, SARs granted to officers or employees expire after 10 years from the grant date. For all SARs granted, the exercise price is equal to the closing price of Farmer Mac's Class C non-voting common stock on the date of grant. SARs granted during the years ended December 31, 2024, 2023, and 2022 have a weighted average exercise price per share of $198.54, $135.12 and $120.38, respectively. During the years ended December 31, 2024, 2023, and 2022, restricted stock unit awards were granted to employees, officers, and directors with vesting periods of one to three years.  

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The following tables summarize SARs and non-vested restricted stock unit activity for the years ended December 31, 2024, 2023, and 2022:Table 9.3  For the Years Ended December 31, 202420232022SARsWeighted-AverageExercisePriceSARsWeighted-AverageExercisePriceSARsWeighted-AverageExercisePriceOutstanding, beginning of year125,952 $87.18 132,163 $75.82 130,409 $66.10 Granted15,465 198.54 16,761 135.12 18,432 120.38 Exercised(34,728)65.59 (22,972)56.82 (16,678)49.04 Canceled— — — — — — Outstanding, end of year106,689 110.35 125,952 87.18 132,163 75.82 Exercisable at end of year73,906 87.31 87,378 73.15 83,054 63.12  For the Years Ended December 31, 202420232022 Non-vestedRestrictedStock UnitsWeighted-AverageGrant DateFair ValueNon-vestedRestrictedStock UnitsWeighted-AverageGrant DateFair ValueNon-vestedRestrictedStock UnitsWeighted-AverageGrant DateFair ValueOutstanding, beginning