Form 4: Farmer Mac Director Jeffrey L. Plagge Reports Acquisition and Disposal of Class C Non-Voting Common Stock

Director Jeffrey L. Plagge reports the acquisition and subsequent disposal of 305 shares of Class C Non-Voting Common Stock of Federal Agricultural Mortgage Corp (Farmer Mac) due to the grant of restricted stock units.

Summary

• Jeffrey L. Plagge, a director of Federal Agricultural Mortgage Corp (Farmer Mac), filed a Form 4 on May 20, 2024, reporting changes in beneficial ownership.
• On May 16, 2024, Plagge acquired 305 shares of Class C Non-Voting Common Stock through a grant of restricted stock units (RSUs) under the Amended and Restated 2008 Omnibus Incentive Plan.
• The RSUs were granted for no consideration and will vest on March 31, 2025, if Plagge remains a director of Farmer Mac on that date.
• Concurrently with the acquisition, Plagge disposed of 305 shares, likely related to the vesting or grant of the RSUs.
• Plagge has also granted a Limited Power of Attorney to Stephen P. Mullery, Christy M. Prendergast, Jonathan Cohen, Arriann Mathurin, and Joshua Shin for filing Forms 3, 4, or 5 related to Farmer Mac securities transactions.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating standard compensation practices. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Positives

• The grant of RSUs aligns the director's interests with the company's performance, incentivizing continued service and value creation.

Future Outlook

The vesting of the RSUs on March 31, 2025, is contingent on Jeffrey L. Plagge remaining a director of Farmer Mac.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices for board members.

Comparison to Industry Standards

• RSUs are a common form of equity compensation for directors in publicly traded companies, aligning their interests with shareholders.
• The vesting schedule of the RSUs is typical, often tied to continued service on the board.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of shareholders, potentially leading to better corporate governance and decision-making.

Key Dates