SEC Form 4 · accession 0000845877-18-000055
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
Mar 13, 2018
Accepted (ET)
Mar 15, 2018 · 4:13 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 | Mar 13, 2018 | A | 1,308 | $0.00 | A | 16,898 | D | |
| Class C Non-Voting Common StockF3,F2 | Mar 13, 2018 | A | 327 | $0.00 | A | 17,225 | D | |
| Class C Non-Voting Common StockF4,F2 | Mar 13, 2018 | A | 327 | $0.00 | A | 17,552 | 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 RightF6,F5 | $86.15 | Mar 13, 2018 | A | 2,445 | A | — | Mar 13, 2028 | Class C Non-Voting Common Stock | 2,445 | 2,445 | D |
Explanation of responses
- F1Grant of shares of time-vested restricted stock under Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan for no consideration. Includes three installments of 436 shares of restricted stock, each of which will vest on March 31, 2019, March 31, 2020, and March 31, 2021, respectively.
- F2Includes 9,175 shares of unvested restricted stock previously granted pursuant to Farmer Mac's Amended and Restated 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.
- F3Grant of shares of performance-based restricted stock under Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan for no consideration. The shares will vest on March 31, 2021 if the Farmer Mac maintains compliance with all applicable regulatory capital requirements between January 1, 2018 and December 31, 2020, with the percentage of shares that will vest to be determined by the Compensation Committee of Farmer Mac's Board of Directors.
- F4Grant of shares of performance-based restricted stock under Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan for no consideration. The shares will vest on March 31, 2021 if Farmer Mac meets certain performance objectives related to portfolio charge-offs and delinquencies, as specified in the related award agreement, for the period starting on January 1, 2018 and ending on December 31, 2020.
- F5Exercisable beginning March 31, 2019 with respect to 815 shares, beginning March 31, 2020 with respect to 815 shares, and beginning March 31, 2021 with respect to 815 shares.
- F6Grant of stock appreciation rights under Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan for no consideration.