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

Director James R. Engebretsen reports acquiring 106 shares of Farmer Mac's Class C Non-Voting Common Stock on September 30, 2024, through a director's election to purchase shares in lieu of cash retainer.

Summary

• On September 30, 2024, James R. Engebretsen, a director of Federal Agricultural Mortgage Corporation (Farmer Mac), acquired 106 shares of Class C Non-Voting Common Stock.
• The acquisition was made through the director's election to receive stock in lieu of a portion of his quarterly retainer.
• The price per share was $187.41, based on the closing price on the New York Stock Exchange on September 30, 2024.
• Following the transaction, Engebretsen beneficially owns 15,291 shares, including 373 unvested restricted stock units that will vest on March 31, 2025, contingent on his continued service as a director.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of a director's stock acquisition, which doesn't inherently indicate positive or negative sentiment. The director taking stock in lieu of cash could be seen as a slightly positive signal.

Positives

• The director's decision to take shares in lieu of cash may signal confidence in the company's future performance.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company insiders.

Comparison to Industry Standards

• Director compensation in the form of stock is a common practice among publicly traded companies, aligning director interests with shareholder value.
• The vesting schedule of the restricted stock units is typical, incentivizing long-term commitment from the director.

Related Party Transactions

• The acquisition of shares by the director in lieu of cash retainer is a related party transaction.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency to shareholders regarding director compensation and ownership.

Key Dates