Form 4: Farmer Mac Executive Kerry T. Willie Reports Stock Transaction
SEC Form 4 Filing
Kerry T. Willie, SVP Chief HR Officer of Federal Agricultural Mortgage Corp, reports disposition of shares to cover withholding taxes upon vesting of restricted stock units.
Summary
- On April 15, 2024, Kerry T. Willie, SVP Chief HR Officer of Federal Agricultural Mortgage Corp (Farmer Mac), reported a transaction involving Class C Non-Voting Common Stock.
- The transaction involved the vesting of 930 restricted stock units, granted in March 2021.
- Farmer Mac retained 280 shares to satisfy withholding requirements related to the vesting of these units.
- The price used for calculating the number of shares withheld was $181.91, which 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.
- Following the reported transaction, Willie directly owns 2,634 shares of Class C Non-Voting Common Stock, which includes 1,169 unvested restricted stock units previously granted.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider transaction, which is neither inherently positive nor negative. The sentiment is neutral.
Industry Context
This filing is a routine disclosure of insider transactions, which are common and expected occurrences. It provides transparency into the actions of company executives regarding their holdings in the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders, ensuring transparency and compliance with SEC regulations.
- Similar filings are made by executives at comparable financial institutions like Fannie Mae and Freddie Mac, as well as other agricultural finance companies.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a routine transaction related to executive compensation.
- The filing provides transparency to stakeholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| March 2021 | Date of grant of restricted stock units. |
| 04/15/2024 | Date of transaction (vesting of restricted stock units and withholding of shares). |
| 04/17/2024 | Date of Form 4 filing. |
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