SEC Form 4 · accession 0000845877-18-000129
FEDERAL AGRICULTURAL MORTGAGE CORP · AGM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory Ramsey
Officer — Principal Accounting Officer
Period of report
May 24, 2018
Accepted (ET)
May 29, 2018 · 5:28 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 | May 24, 2018 | M | 1,334 | $32.39 | A | 3,769 | D | |
| Class C Non-Voting Common StockF1,F2,F3 | May 24, 2018 | F | 392 | $92.68 | D | 3,377 | D | |
| Class C Non-Voting Common StockF1,F2,F3 | May 24, 2018 | D | 466 | $92.68 | D | 2,911 | 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,F2,F4 | $32.39 | May 24, 2018 | M | 1,334 | D | — | Apr 1, 2025 | Class C Non-Voting Common Stock | 1,334 | 0 | D |
Explanation of responses
- F1Transaction effected during an open trading window for employees and directors of the Federal Agricultural Mortgage Corporation ("Farmer Mac").
- F2In connection with the net share settlement of the exercise of 1,334 vested stock appreciation rights ("SARs") granted in April 2015 with a grant price of $32.39 per share, Mr. Ramsey was entitled to receive 868 shares of Farmer Mac Class C Non-Voting Common Stock. None of these shares were sold, as Mr. Ramsey retained 476 shares, and Farmer Mac retained 392 shares to satisfy tax withholding requirements arising from the exercise. The 466 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.
- F3Includes 2,435 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.
- F4Exercisable beginning March 31, 2016 with respect to 1,333 shares, beginning March 31, 2017 with respect to 1,333 shares, and beginning March 31, 2018 with respect to 1,334 shares.