Company: AGM-PH
Filing Date: 2025-05-21
Form Type: 8-K
Source: 0000845877-25-000164
Chunk: 0

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-21
Form: 8-K
Item: Item 5.03
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Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On May 15, 2025, the Board of Directors (“Board”) of the Federal Agricultural Mortgage Corporation (“ Farmer Mac”) adopted amendments to Farmer Mac’s by-laws, as amended and restated (“By-Laws”). The By-Laws amend Farmer Mac's prior by-laws, dated August 11, 2022, as described below:

•Article III (Officers and Employees): Article III of the By-Laws was amended to clarify provisions related to the officers and employees of Farmer Mac, as described in more detail below:

◦Section 1 (Number and Type): This section was amended to define “executive officer” to include an officer having the rank of Executive Vice President or higher (formerly Senior Vice President or higher) and any other officer determined by the Board to be in charge of a principal business unit, division, or function of Farmer Mac or who performs a policy-making function for purposes of disclosures under rules promulgated by the U. S. Securities and Exchange Commission. This section was also amended to authorize the Chief Executive Officer to appoint any officers having the rank of Senior Vice President or below (formerly Vice President or below), as the Chief Executive Officer may deem necessary or appropriate. Also, the reference to the role of Controller was changed to Chief Accounting Officer.

◦Section 10 (The Chief Accounting Officer): This section was amended to change all references to the role of Controller to Chief Accounting Officer.

•Article V (Board of Directors): Article V of the By-Laws was amended to further clarify the responsibilities of all eight standing committees, as described in more detail below:

◦Section 10(a) (Standing Committees; Audit Committee): This section was amended to clarify that the Audit Committee’s oversight includes the responsibility to appoint, retain, evaluate, provide input on compensation, and oversee the work of the leader of Farmer Mac’s internal audit function.

◦Section 10(b) (Standing Committees; Business Development and Business Strategy Committee): This section was amended to clarify that the Business Development and Business Strategy Committee’s oversight responsibilities include Farmer Mac’s loan servicing and operations functions and related relationships.

◦Section 10(c) (Standing Committees; Corporate Governance Committee): This section was amended to add that the Corporate Governance Committee will meet at least quarterly with the leader of Farmer Mac’s compliance function.

◦Section 10(d) (Standing Committees; Credit Committee): This section was amended to clarify that the