Form 4: Farmer Mac Director James R. Engebretsen Reports Acquisition of Class C Non-Voting Common Stock

Director James R. Engebretsen reports the acquisition of 376 shares of Class C Non-Voting Common Stock in Farmer Mac through a grant of restricted stock units.

Summary

• On March 6, 2025, James R. Engebretsen, a director of Federal Agricultural Mortgage Corporation (Farmer Mac), acquired 376 shares of Class C Non-Voting Common Stock.
• The acquisition was a grant of restricted stock units (RSUs) under the Amended and Restated 2008 Omnibus Incentive Plan.
• The RSUs were granted for no consideration.
• These RSUs will vest on March 31, 2026, contingent upon Engebretsen remaining a director of Farmer Mac on that date.
• Following the transaction, Engebretsen beneficially owns 15,768 shares of Class C Non-Voting Common Stock, which includes 373 RSUs vesting on March 31, 2025.

Sentiment

Score: 7

Explanation: The document reflects a standard practice of equity compensation, suggesting a positive alignment of interests between the director and the company's long-term performance. There are no indications of negative sentiment.

Positives

• The grant of RSUs aligns the director's interests with the long-term performance of the company.
• The vesting condition encourages continued service as a director.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting conditions of the RSUs.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects standard practices for aligning director interests with shareholder value through equity-based compensation.

Comparison to Industry Standards

• Equity compensation for board members is a common practice across the financial services industry.
• Companies like Fannie Mae and Freddie Mac also utilize stock-based compensation to incentivize their directors.
• The vesting schedules and types of equity grants (RSUs, stock options) are generally comparable to industry norms for similar-sized institutions.

Stakeholder Impact

• The RSU grant aligns the director's interests with shareholders, potentially driving long-term value creation.
• The vesting requirements incentivize the director's continued service, benefiting the company and its stakeholders.

Key Dates