Form 4: Farmer Mac Executive Stephen P. Mullery Reports Stock Transactions Following RSU Vesting

Stephen P. Mullery, EVP General Counsel of Farmer Mac, reports the vesting of restricted stock units and subsequent share withholding for tax obligations.

Summary

• On March 31, 2025, Stephen P. Mullery, EVP General Counsel of Farmer Mac, reported transactions related to the vesting of restricted stock units (RSUs).
• These RSUs were granted in March 2022, March 2023, and March 2024.
• A total of 987 shares of Class C Non-Voting Common Stock were withheld by Farmer Mac to satisfy tax obligations.
• The price used for calculating the number of shares withheld was $188.58, the closing price on the last trading day before the vesting date.
• Following these transactions, Mullery beneficially owns 18,305 shares, including 3,072 unvested restricted stock units.
• The total amount of securities beneficially owned has been adjusted since the Reporting Person's last filing to reflect 559 more shares that vested on March 31, 2025 as a result of applying a 200% performance factor to 559 target restricted stock units granted in March 2022.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation, and it doesn't inherently convey positive or negative sentiment. It's a factual report of transactions.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages including restricted stock units are a common practice among publicly traded companies to align management's interests with those of shareholders.
• The vesting schedules and performance-based components are generally in line with industry standards for similar roles and company sizes.
• Comparable companies in the financial services sector, such as other government-sponsored enterprises (GSEs) or agricultural lenders, often utilize similar equity-based compensation structures.

Stakeholder Impact

• The vesting of RSUs and subsequent tax withholding have a minor impact on the company's outstanding shares.
• Shareholders may view executive compensation as an indicator of management alignment with company performance.

Key Dates

Keywords

Form 4, Farmer Mac, Stephen P. Mullery, Restricted Stock Units, Vesting, Beneficial Ownership, Class C Non-Voting Common Stock, Tax Withholding