Form 4: Farmer Mac Executive Brian M. Brinch Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Brian M. Brinch, EVP Chief Risk Officer of Federal Agricultural Mortgage Corp (Farmer Mac), reports the vesting of restricted stock units and subsequent share withholding for tax obligations.
Summary
- On March 31, 2025, Brian M. Brinch, EVP Chief Risk Officer of Farmer Mac, reported changes in beneficial ownership of Class C Non-Voting Common Stock.
- These changes are due to the vesting of restricted stock units granted in March 2022, March 2023, and March 2024.
- Farmer Mac retained a total of 478 shares to satisfy withholding requirements related to these vestings at a price of $188.58 per share.
- The total securities beneficially owned following the reported transactions is 9,369 shares, which includes 1,649 unvested restricted stock units.
- The total amount of securities beneficially owned has been adjusted since the Reporting Person's last filing to reflect 254 more shares that vested on March 31, 2025 as a result of applying a 200% performance factor to 254 target restricted stock units granted in March 2022.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock vesting and tax withholding, with no inherent positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects the standard practice of granting stock-based compensation and withholding shares for tax purposes.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align executive interests with shareholder value.
- The vesting schedules and performance-based components are typical features of executive compensation plans.
- Companies like Fannie Mae and Freddie Mac also utilize similar compensation structures for their executives.
Stakeholder Impact
- Shareholders may be interested in the details of executive compensation.
- The vesting of stock units can have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| March 2022 | Grant date of restricted stock units, some of which vested on March 31, 2025. |
| March 2023 | Grant date of restricted stock units, some of which vested on March 31, 2025. |
| March 2024 | Grant date of restricted stock units, some of which vested on March 31, 2025. |
| 03/31/2025 | Date of transaction: vesting of restricted stock units and share withholding. |
| 04/02/2025 | Date of Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, Farmer Mac, AGM, Brian M. Brinch, Vesting, Share Withholding, Tax Obligations
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