Company: AGM-PH
Filing Date: 2025-09-30
Form Type: 8-K
Source: 0000845877-25-000244
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Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-09-30
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Retirement of Named Executive Officer

On September 25, 2025, Bradford T. Nordholm (“ Mr. Nordholm”), the President and Chief Executive Officer of the Federal Agricultural Mortgage Corporation (“ Farmer Mac”), advised the company that he is retiring on March 31, 2027, which is the expiration of the term of his amended employment agreement described in this report below in Item 5.02(e). On that same date, Mr. Nordholm resigned as the President of Farmer Mac effective September 25, 2025.

(c) Appointment of President and Principal Operating Officer

On September 25, 2025, Farmer Mac’s Board of Directors (“ Board”) appointed Zachary N. Carpenter (“ Mr. Carpenter”) to serve as Farmer Mac’s President and Chief Operating Officer, effective upon Mr. Nordholm’s resignation as President. On that same date, the Board designated Mr. Carpenter as Mr. Nordholm’s successor and appointed Mr. Carpenter to serve as Farmer Mac’s Chief Executive Officer upon the earlier of: (1) April 1, 2027; and (2) Mr. Nordholm’s last day of employment with Farmer Mac (“ Effective Date”).

Mr. Carpenter, age 43, has served as Farmer Mac’s Executive Vice President - Chief Business Officer since May 2019 and will continue to retain the responsibilities of the Chief Business Officer role in connection with his appointment as President and Chief Operating Officer. Before joining Farmer Mac, Mr. Carpenter worked at CoBank, ACB from September 2011 through May 2019, first as Executive Director in its Capital Markets division and then as a Managing Director and ultimately Sector Vice President of its Corporate Agribusiness Banking Group. Mr. Carpenter also served as a Vice President in corporate finance at Goldman Sachs from December 2006 through September 2011 and as a Senior Analyst at Johnson & Johnson from May 2004 through December 2006. Mr. Carpenter has an undergraduate degree in Finance from The University of Pennsylvania’s Wharton School and an MBA degree from New York University’s Stern School of Business.

There are no arrangements or understandings between Mr. Carpenter and any other persons pursuant to which Mr. Carpenter was appointed as the President and Chief Operating Officer of Farmer Mac (or as the Chief Executive Officer upon Mr. Nordholm’s last day of employment, as described above), nor