SEC Form 4 · accession 0000845877-15-000043
FEDERAL AGRICULTURAL MORTGAGE CORP · AGM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Curtis Covington
Officer — SVP - Agricultural Finance
Period of report
Apr 1, 2015
Accepted (ET)
Apr 2, 2015 · 4:47 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000845877
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class C Non-Voting Common StockF1 | Apr 1, 2015 | A | 4,620 | $0.00 | A | 4,620 | D | |
| Class C Non-Voting Common StockF2 | Apr 1, 2015 | A | 1,155 | $0.00 | A | 5,775 | D | |
| Class C Non-Voting Common StockF3 | Apr 1, 2015 | A | 1,155 | $0.00 | A | 6,930 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightF5,F4 | $32.39 | Apr 1, 2015 | A | 8,070 | A | — | Apr 1, 2025 | Class C Non-Voting Common Stock | 8,070 | 8,070 | D |
Explanation of responses
- F1Grant of shares of time-vested restricted stock under Farmer Mac's 2008 Omnibus Incentive Plan for no consideration. Includes three installments of 1,540 shares of restricted stock, each of which will vest on March 31, 2016, March 31, 2017, and March 31, 2018, respectively.
- F2Grant of shares of performance-based restricted stock under Farmer Mac's 2008 Omnibus Incentive Plan for no consideration. The shares will vest on March 31, 2018 if the Farmer Mac maintains compliance with all applicable regulatory capital requirements between January 2, 2015 and December 31, 2017, with the percentage of shares that will vest to be determined by the Compensation Committee of Farmer Mac's Board of Directors.
- F3Grant of shares of performance-based restricted stock under Farmer Mac's 2008 Omnibus Incentive Plan for no consideration. The shares will vest on March 31, 2018 if Farmer Mac meets certain performance objectives related to portfolio charge-offs and delinquencies, as specified in the related award agreement.
- F4Exercisable beginning March 31, 2016 with respect to 2,690 shares, beginning March 31, 2017 with respect to 2,690 shares, and beginning March 31, 2018 with respect to 2,690 shares.
- F5Grant of stock appreciation rights under Farmer Mac's 2008 Omnibus Incentive Plan for no consideration.