Form 4: Farmer Mac Director James R. Engebretsen Acquires Additional Shares

Director James R. Engebretsen acquired 110 shares of Farmer Mac's Class C Non-Voting Common Stock on March 31, 2025, in lieu of a portion of his quarterly retainer.

Summary

• On March 31, 2025, James R. Engebretsen, a director of Federal Agricultural Mortgage Corporation (Farmer Mac), acquired 110 shares of Class C Non-Voting Common Stock.
• The shares were acquired at a price of $187.51 per share.
• This acquisition was made in lieu of receiving a portion of the director's quarterly retainer in cash.
• Following the transaction, Engebretsen beneficially owns 15,878 shares, including 376 unvested restricted stock units that will vest on March 31, 2026, if he remains a director.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction, and the director's decision to take shares instead of cash is a mildly positive signal.

Positives

• The director's decision to take shares in lieu of cash demonstrates confidence in the company's future prospects.
• Increased insider ownership can be seen as a positive signal to the market.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting of restricted stock units on March 31, 2026, is contingent on the director's continued service.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency regarding the ownership positions of company directors.

Comparison to Industry Standards

• Insider transactions are a common occurrence in publicly traded companies, and the reporting requirements are standardized by the SEC.
• Comparable companies in the financial sector, such as Fannie Mae and Freddie Mac, also have similar reporting requirements for their directors and officers.

Related Party Transactions

• The acquisition of shares in lieu of cash compensation can be considered a related party transaction, as it involves a director and the company.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders, as it signals confidence from a company director.
• The impact on employees, customers, suppliers, and creditors is negligible.

Key Dates

Keywords

Farmer Mac, Director, Share Acquisition, Insider Trading, Class C Non-Voting Common Stock, Engebretsen, AGM