Form 4: Farmer Mac SVP Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Robert J. Maines, SVP of Operations at Farmer Mac, reports the acquisition and disposal of Class C Non-Voting Common Stock following the vesting of restricted stock units (RSUs) to cover withholding requirements.
Summary
- Robert J. Maines, SVP of Operations at Farmer Mac, filed a Form 4 detailing changes in beneficial ownership of the company's Class C Non-Voting Common Stock.
- The transactions occurred on March 31, 2024, and involved the vesting of restricted stock units (RSUs) granted in March 2021, March 2022 and March 2023.
- A total of 410 shares were disposed of to satisfy withholding requirements related to the vesting of these RSUs.
- The price used for calculating the number of shares withheld was $196.88, the closing price on the last trading day before the vesting date.
- Following the reported transactions, Maines beneficially owns 2,869 shares, including 1,646 unvested restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions related to employee compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
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 and the subsequent transactions to cover tax obligations.
Stakeholder Impact
- Shareholders may be interested in insider transactions, but this specific filing relates to routine compensation practices.
- The transactions impact the reporting person's holdings in the company.
Key Dates
| Date | Description |
|---|---|
| 03/2021 | Restricted stock units granted in March 2021. |
| 03/2022 | Restricted stock units granted in March 2022. |
| 03/2023 | Restricted stock units granted in March 2023. |
| 03/31/2024 | Date of transaction: vesting of restricted stock units and disposal of shares for withholding. |
| 04/02/2024 | Date of Form 4 filing. |
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