SEC Form 4 · accession 0000845877-16-000311
FEDERAL AGRICULTURAL MORTGAGE CORP · AGM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen P Mullery
Officer — SVP - General Counsel
Period of report
Sep 16, 2016
Accepted (ET)
Sep 19, 2016 · 5:04 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,F2 | Sep 16, 2016 | M | 4,000 | $7.35 | A | 19,274 | D | |
| Class C Non-Voting Common StockF1,F2 | Sep 16, 2016 | F | 1,465 | $42.29 | D | 17,809 | D | |
| Class C Non-Voting Common StockF1,F2 | Sep 16, 2016 | D | 695 | $42.29 | D | 17,114 | D | |
| Class C Non-Voting Common StockF3,F4,F2 | Sep 16, 2016 | S | 1,840 | $41.3395 | D | 15,274 | 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 RightF1 | $7.35 | Sep 16, 2016 | M | 4,000 | D | Aug 31, 2011 | Oct 2, 2018 | Class C Non-Voting Common Stock | 4,000 | 0 | D |
Explanation of responses
- F1Mr. Mullery received 1,840 shares of the Federal Agricultural Mortgage Corporation's ("Farmer Mac") Class C Non-Voting Common Stock upon net share settlement of his exercise of 4,000 stock appreciation rights with a grant price of $7.35 per share. That exercise entitled Mr. Mullery to receive 3,305 shares of Farmer Mac's Class C Non-Voting Common Stock, and 1,465 shares were retained by Farmer Mac's to satisfy tax withholding requirements arising from the exercise. Each stock appreciation right 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.
- F2Includes 11,142 shares of unvested restricted stock previously granted pursuant to Farmer Mac's 2008 Omnibus Incentive Plan. The grants of restricted stock have been described in detail in Farmer Mac's prior filings with the Securities and Exchange Commission.
- F3Transaction effected pursuant to a trading plan adopted in accordance with Rule 10b5-1.
- F4The price reported in Column 4 is a weighted average price. These shares of Class C Non-Voting Common Stock were sold in multiple transactions at prices ranging from $41.04 to $41.50, inclusive. The Reporting Person undertakes to provide to Farmer Mac, any security holder of Farmer Mac, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to Form 4.