Form 4: Director McKissack Acquires Farmer Mac Stock

Farmer Mac Director Eric T. McKissack acquired 11 shares of Class C Non-Voting Common Stock at $175.57 per share, increasing his beneficial ownership to 2,389 shares.

Summary

• Director Eric T. McKissack acquired 11 shares of Federal Agricultural Mortgage Corporation's (Farmer Mac) Class C Non-Voting Common Stock.
• The acquisition occurred on December 31, 2025, at a price of $175.57 per share.
• These shares were issued pursuant to the director's existing election to purchase newly issued shares at market value in lieu of receiving some or all of his quarterly retainer in cash.
• Following this transaction, Eric T. McKissack beneficially owns 2,389 shares of Class C Non-Voting Common Stock.
• The total beneficial ownership includes 376 time-vested restricted stock units that are set to vest on March 31, 2026, provided the reporting person remains a director.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as a director's acquisition of shares, even as part of a compensation plan, generally indicates confidence and alignment with shareholder interests.

Positives

• Director Eric T. McKissack's acquisition of additional shares, even as part of a compensation plan, demonstrates continued alignment of his interests with those of shareholders.

Future Outlook

376 time-vested restricted stock units of Farmer Mac's Class C Non-Voting Common Stock are scheduled to vest on March 31, 2026, provided Eric T. McKissack remains a director of Farmer Mac on that date.

Industry Context

This transaction represents a routine insider acquisition, common for directors who elect to receive equity compensation in lieu of cash for their services. It aligns the director's financial interests with the long-term performance of the company, a standard practice across many publicly traded entities.

Comparison to Industry Standards

• The practice of directors electing to receive equity in lieu of cash compensation is a common corporate governance mechanism, aligning director incentives with shareholder value, consistent with practices at many financial institutions and public companies.

Stakeholder Impact

• Shareholders: The increased equity ownership by a director enhances alignment between management and shareholder interests, potentially fostering more shareholder-centric decision-making.

Next Steps

• Vesting of 376 time-vested restricted stock units on March 31, 2026, contingent on continued directorship.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of shares by a director as part of their compensation plan. Such a transaction is a standard practice and does not provide new information significant enough to warrant a change in an investment recommendation.

Keywords

Farmer Mac, AGM, Eric T. McKissack, Director Stock Acquisition, SEC Form 4, Insider Transaction, Class C Non-Voting Common Stock, Equity Compensation