Form 4: Farmer Mac Executive Stephen Mullery Reports Changes in Beneficial Ownership

Stephen Mullery, EVP General Counsel at Farmer Mac, reports changes in beneficial ownership of Class C Non-Voting Common Stock due to vesting of restricted stock units and shares withheld for tax obligations.

Summary

• On March 31, 2024, Stephen Mullery, EVP General Counsel at Farmer Mac, reported changes in his beneficial ownership of the company's Class C Non-Voting Common Stock.
• The changes are due to the vesting of restricted stock units granted in March 2021, March 2022 and March 2023.
• Farmer Mac retained shares to satisfy withholding requirements related to the vesting of these units.
• Specifically, 956 shares were withheld at a price of $196.88 per share.
• Following these transactions, Mullery beneficially owns 22,045 shares, which includes 3,417 unvested restricted stock 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.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to stock vesting and tax withholding, and doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies. It provides transparency regarding the equity-based compensation of Farmer Mac's executives.

Key Dates