SEC Form 4 · accession 0000845877-18-000070
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
Mar 31, 2018
Accepted (ET)
Apr 3, 2018 · 4:46 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,F3 | Mar 31, 2018 | F | 2,700 | $87.02 | D | 16,401 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On March 31, 2018, (i) 2,310 shares of restricted stock vested that were granted in April 2015, upon the Federal Agricultural Mortgage Corporation's ("Farmer Mac") achievement of certain performance objectives related to portfolio charge-offs and delinquencies, as specified in the related award agreement, for which Farmer Mac retained 996 shares to satisfy withholding requirements, (ii) 1,540 shares of restricted stock vested as the third installment of the time-based award granted in April 2015, for which Farmer Mac retained 664 shares to satisfy withholding requirements, (iii) 1,554 shares of restricted stock vested as the second installment of the time-based award granted in March 2016, for which Farmer Mac retained 670 shares to satisfy withholding requirements, and (iv) 858 shares of restricted stock vested as the first installment of the time-based award granted in March 2017, for which Farmer Mac retained 370 shares to satisfy withholding requirements.
- F2In accordance with a policy adopted by the Compensation Committee of Farmer Mac's Board of Directors, the price used for the calculation of the number of shares withheld by Farmer Mac in satisfaction of tax liability is the closing price of Farmer Mac's Class C Non-Voting Common Stock on the New York Stock Exchange on the last trading day before the vesting date.
- F3Includes 9,708 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.