Form 4: Farmer Mac CEO Sells Over 8,000 Shares of Class C Non-Voting Common Stock Under Pre-Arranged Plan

Bradford T. Nordholm, President and CEO of Federal Agricultural Mortgage Corporation (Farmer Mac), reported the sale of 8,102 shares of Class C Non-Voting Common Stock on June 10, 2025, for approximately $1.55 million, executed under a Rule 10b5-1 trading plan.

Summary

• Bradford T. Nordholm, President and CEO of Federal Agricultural Mortgage Corporation (Farmer Mac), reported the sale of 8,102 shares of Class C Non-Voting Common Stock.
• The transactions occurred on June 10, 2025, during an open trading window for employees and directors.
• The sales were executed in three separate transactions at weighted average prices of $190.6216, $191.5981, and $192.3279 per share.
• The total value of the shares sold is approximately $1,550,188.
• Following these transactions, Mr. Nordholm beneficially owns 36,994.4506 shares of Class C Non-Voting Common Stock.
• This remaining beneficial ownership includes 29,100 unvested restricted stock units previously granted under Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While insider selling can sometimes be viewed negatively, the explicit mention that the transaction was conducted under a Rule 10b5-1 plan indicates a pre-scheduled sale, often for personal financial planning or diversification, rather than a signal of negative company prospects. This mitigates any potential negative interpretation.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, indicating a pre-arranged and systematic sale rather than a reactive decision based on new, undisclosed information, which can mitigate negative market interpretations of insider selling.
• The transaction occurred during an open trading window for employees and directors, adhering to company policy.

Negatives

• The sale by a key executive, the President and CEO, reduces his direct ownership stake in the company, which some investors might interpret as a slight reduction in management's direct alignment with shareholder interests, despite the 10b5-1 plan.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• The transaction was effected during an open trading window for employees and directors of the Federal Agricultural Mortgage Corporation ('Farmer Mac').

Industry Context

This document is a routine insider transaction report (Form 4) specific to Federal Agricultural Mortgage Corporation (Farmer Mac) and does not provide broader industry context or trends. It reflects an individual executive's stock activity rather than a company-wide strategic or financial announcement.

Stakeholder Impact

• Shareholders: May note the reduction in the CEO's direct shareholding, but the 10b5-1 plan suggests it's a routine personal financial management activity rather than a reflection of company performance or outlook.

Key Dates

Recommendation

Keywords

Farmer Mac, AGM, insider trading, stock sale, CEO, beneficial ownership, Form 4, Class C Non-Voting Common Stock, Rule 10b5-1