Company: AGM-PH
Filing Date: 2025-09-30
Form Type: 8-K
Source: 0000845877-25-000244
Chunk: 1

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-09-30
Form: 8-K
Item: Item 5.02
Chunk 1
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 are there any family relationships between Mr. Carpenter and any of Farmer Mac’s directors or executive officers. There are no transactions in which Mr. Carpenter has an interest requiring disclosure under Item 404(a) of Regulation S-K. A description of Mr. Carpenter’s compensation arrangement with Farmer Mac is set forth under Item 5.02(e) of this report.

(e) Compensatory Arrangements of Certain Officers

Bradford T. Nordholm’s Amended Employment Agreement as Chief Executive Officer

On September 25, 2025, Farmer Mac entered into the Second Amendment to Amended Employment Agreement (“ New Amendment”) with Mr. Nordholm, the terms of which were approved by the Board. The New Amendment amends portions of the existing amended employment agreement between Farmer Mac and Mr. Nordholm dated December 23, 2020, as amended by the First Amendment to Amended Employment Agreement dated September 28, 2022 (together with the New Amendment, the “ Nordholm Employment Agreement”), primarily as summarized below:

• The New Amendment provides for Mr. Nordholm to continue to serve as Farmer Mac’s Chief Executive Officer but no longer as Farmer Mac’s President.

• The New Amendment extends Mr. Nordholm’s employment term as Chief Executive Officer through March 31, 2027, subject to earlier termination as provided in the Nordholm Employment Agreement. The Nordholm Employment Agreement previously provided for a term through March 31, 2026.

• The New Amendment revises the section relating to Mr. Nordholm’s incentive salary (annual cash bonus). For the incentive salary related to Mr. Nordholm’s performance in 2025 and 2026, Mr. Nordholm’s incentive salary target will remain at 100% of his annual base salary, with the amount to be paid for performance in those years determined based on Farmer Mac’s actual performance in relation to threshold, target, and maximum amounts for various metrics specified by the Human Capital and Compensation Committee of Farmer Mac’s Board (“ Compensation Committee”). For performance in 2027, Mr. Nordholm will be eligible to be paid a fixed incentive salary equal to $200,000. The New Amendment also provides that, if Mr. Nordholm’s employment relationship with Farmer Mac is severed as a result of termination by mutual agreement or the death or “disability” (as defined in the Nordholm Employment Agreement) of Mr. Nordholm, (1) his incentive salary for performance in 2025 and 2026 (as applicable) will be the greater