Form 4: Farmer Mac Director McKissack Acquires Shares in Lieu of Cash Retainer

Director Eric T. McKissack acquired 36 shares of Farmer Mac's Class C Non-Voting Common Stock in lieu of a cash retainer.

Summary

• On March 31, 2025, Eric T. McKissack, a director of Federal Agricultural Mortgage Corporation (Farmer Mac), acquired 36 shares of Class C Non-Voting Common Stock.
• The shares were issued in lieu of a portion of the director's quarterly retainer, with the purchase price set at the market value of $187.51 per share.
• Following the transaction, McKissack beneficially owns 3,085 shares, including 376 unvested restricted stock units that will vest on March 31, 2026, contingent on continued service as a director.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director taking shares in lieu of cash is a good sign, but it's a routine transaction.

Positives

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

Industry Context

Directors receiving equity as part of their compensation is a common practice in publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• The specific mix varies depending on the company's size, industry, and performance.
• Compared to other financial institutions, Farmer Mac's director compensation structure appears typical, with equity playing a significant role in aligning director interests with shareholder value.

Related Party Transactions

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

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates

Keywords

Farmer Mac, Director, Share Acquisition, Class C Non-Voting Common Stock, Retainer, Eric T. McKissack