Bradford T. Nordholm - Feb 25, 2025 Form 4 Insider Report for FEDERAL AGRICULTURAL MORTGAGE CORP (AGM)

Role: President and CEO
Signature: Stephen P. Mullery, as attorney-in-fact for Bradford T. Nordholm
Stock symbol: AGM
Transactions as of: Feb 25, 2025
Transactions value $: -$1,408,163
Form type: 4
Date filed: 2/27/2025, 06:14 PM
Previous filing: Dec 6, 2024
Next filing: Mar 10, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AGM	Class C Non-Voting Common Stock	Options Exercise	$852K	+10.3K	+25.03%	$82.76	51.4K	Feb 25, 2025	Direct	F1, F2, F3
transaction	AGM	Class C Non-Voting Common Stock	Tax liability	-$605K	-2.97K	-5.77%	$203.93	48.4K	Feb 25, 2025	Direct	F1, F2, F3
transaction	AGM	Class C Non-Voting Common Stock	Disposed to Issuer	-$852K	-4.18K	-8.62%	$203.93	44.3K	Feb 25, 2025	Direct	F1, F2, F3
transaction	AGM	Class C Non-Voting Common Stock	Options Exercise	$971K	+12.9K	+29.18%	$75.16	57.2K	Feb 25, 2025	Direct	F2, F3, F4
transaction	AGM	Class C Non-Voting Common Stock	Tax liability	-$803K	-3.94K	-6.89%	$203.93	53.2K	Feb 25, 2025	Direct	F2, F3, F4
transaction	AGM	Class C Non-Voting Common Stock	Disposed to Issuer	-$971K	-4.76K	-8.94%	$203.93	48.5K	Feb 25, 2025	Direct	F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AGM	Stock Appreciation Right	Options Exercise	$0	-10.3K	-100%	$0.00	0	Feb 25, 2025	Class C Non-Voting Common Stock	10.3K	$82.76	Direct	F5
transaction	AGM	Stock Appreciation Right	Options Exercise	$0	-12.9K	-100%	$0.00	0	Feb 25, 2025	Class C Non-Voting Common Stock	12.9K	$75.16	Direct	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	In connection with the net share settlement of the exercise of 10,290 vested stock appreciation rights ("SARs") granted in February 2019 with a grant price of $82.76 per share, Mr. Nordholm was entitled to receive 6,114 shares of Class C Non-Voting Common Stock of the Federal Agricultural Mortgage Corporation ("Farmer Mac"). Of these shares, Mr. Nordholm receieved 3,148 shares, and Farmer Mac retained 2,966 shares to satisfy tax withholding requirements arising from the exercise. The 4,176 shares reported as a disposition to the issuer of issuer equity securities represents the difference between the number of SARs exercised and the number of shares issuable as a result of the exercise. Each SAR represents the right to receive, upon exercise, the number of shares of Farmer Mac's Class C Non-Voting Common Stock equal to the excess of the fair market value of shares on the exercise date over the grant price.
F2	Transaction effected during an open trading window for employees and directors of Farmer Mac.
F3	Includes 29,332 unvested restricted stock units previously granted pursuant to Farmer Mac's Amended and Restated 2008 Omnibus Incentive Pan, as described in more detail in the Reporting Person's prior filings under Section 16 of the Securities Exchange Act of 1934.
F4	In connection with the net share settlement of the exercise of 12,915 vested stock appreciation rights ("SARs") granted in March 2020 with a grant price of $75.16 per share, Mr. Nordholm was entitled to receive 8,155 shares of Class C Non-Voting Common Stock of the Federal Agricultural Mortgage Corporation ("Farmer Mac"). Of these shares, Mr. Nordholm receieved 4,216 shares, and Farmer Mac retained 3,939 shares to satisfy tax withholding requirements arising from the exercise. The 4,760 shares reported as a disposition to the issuer of issuer equity securities represents the difference between the number of SARs exercised and the number of shares issuable as a result of the exercise. Each SAR represents the right to receive, upon exercise, the number of shares of Farmer Mac's Class C Non-Voting Common Stock equal to the excess of the fair market value of shares on the exercise date over the grant price.
F5	Exercisable beginning March 31, 2020 with respect to 3,430 shares, beginning March 31, 2021 with respect to 3,430 shares, and beginning March 31, 2022 with respect to 3,430 shares.
F6	Exercisable beginning March 31, 2021 with respect to 4,305 shares, beginning March 31, 2022 with respect to 4,305 shares, and beginning March 31, 2023 with respect to 4,305 shares.