Form 4: Farmer Mac EVP Aparna Ramesh Reports Changes in Beneficial Ownership

Aparna Ramesh, EVP and Chief Financial Officer of Farmer Mac, reports the vesting of restricted stock units and subsequent share withholding for tax obligations.

Summary

• Aparna Ramesh, the EVP and Chief Financial Officer of Federal Agricultural Mortgage Corporation (Farmer Mac), filed a Form 4 detailing changes in beneficial ownership.
• On March 31, 2025, several tranches of restricted stock units vested, including time-based and performance-based awards granted in March 2022, March 2023, and March 2024.
• Farmer Mac withheld shares to satisfy tax obligations related to the vesting of these units.
• The price used for calculating the number of shares withheld was the closing price of Farmer Mac's Class C Non-Voting Common Stock on the New York Stock Exchange on the last trading day before the vesting date, in accordance with company policy.
• Following these transactions, Ramesh beneficially owns 10,387.8087 shares of Class C Non-Voting Common Stock, which includes 4,408 unvested restricted stock units.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating standard compensation practices. The 200% performance factor is a slightly positive indicator.

Positives

• The vesting of performance-based restricted stock units at a 200% performance factor suggests strong performance by the company or the individual.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation.

Comparison to Industry Standards

• Equity compensation is a common practice among publicly traded companies to align the interests of executives with those of shareholders.
• The vesting schedules and performance-based components are typical features of executive compensation packages.
• Comparable companies in the financial services sector, such as AgFirst Farm Credit Bank and CoBank, also utilize equity-based compensation for their executives.

Stakeholder Impact

• The vesting of restricted stock units impacts shareholders by potentially diluting ownership, although this is a planned and disclosed part of the compensation structure.
• The executive benefits from the vesting of these units, aligning their interests with the company's performance.

Key Dates

Keywords

Form 4, beneficial ownership, restricted stock units, Farmer Mac, AGM, Aparna Ramesh, vesting, withholding, tax obligations, Class C Non-Voting Common Stock