Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 57

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 57
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 2023 (excluding the special incentive equity award).

• Aparna Ramesh: Increased annual base salary by $15,000 and maintained the fixed target percentage for target bonus at 50% of base salary. Increased the targeted value of long-term incentive awards by $50,000 compared to the 2023 grant of equity compensation. The cumulative effect of these actions was to increase Ms. Ramesh's total target direct compensation by 6.1% for 2024 compared to her targeted level for 2023.

• Zachary N. Carpenter: Increased annual base salary by $15,000 and maintained the fixed target percentage for target bonus at 75% of base salary. Increased the targeted value of long-term incentive awards by $50,000 compared to the 2023 grant of equity compensation. The cumulative effect of these actions was to increase Mr. Carpenter's total target direct compensation by 6.4% for 2024 compared to his targeted level for 2023.

• Stephen P. Mullery: Increased annual base salary by $15,000 and maintained the fixed target percentage for target bonus at 40% of base salary. Maintained the targeted value of long-term incentive awards at the same level as the 2023 grant of equity compensation. The cumulative effect of these actions was to increase Mr. Mullery's total target direct compensation by 2.1% for 2024 compared to his targeted level for 2023.

• Marc J. Crady: Increased annual base salary by $15,000 and maintained the fixed target percentage for target bonus at 40% of base salary. Increased the targeted value of long-term incentive awards by $15,000 compared to the 2023 grant of equity compensation. The cumulative effect of these actions was to increase Mr. Crady's total target direct compensation by 4.9% for 2024 compared to his targeted level for 2023 .

Base Salary . We pay base salary to provide current and prospective executives with a predictable core amount of annual compensation, regardless of Farmer Mac's financial results, so long as the executives perform their duties in a competent, professional manner. The Compensation Committee sets this pay element at a level that, by itself, would provide executives with a level of financial security commensurate with the competitive market, but not at a level expected to be adequate alone to retain executives or motivate outstanding performance. The Compensation Committee strives to balance the annual base salary with the opportunity for executives to realize value in the form of