SEC Form 4 · accession 0000845877-18-000141
FEDERAL AGRICULTURAL MORTGAGE CORP · AGM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen P Mullery
Officer — EVP - General Counsel
Period of report
Jun 20, 2018
Accepted (ET)
Jun 22, 2018 · 4:20 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 | Jun 20, 2018 | M | 5,000 | $10.43 | A | 20,435 | D | |
| Class C Non-Voting Common StockF1,F2,F3 | Jun 20, 2018 | F | 2,151 | $95.26 | D | 18,284 | D | |
| Class C Non-Voting Common StockF1,F2,F3 | Jun 20, 2018 | D | 547 | $95.26 | D | 17,737 | D | |
| Class C Non-Voting Common StockF1,F2,F3 | Jun 22, 2018 | S | 2,302 | $94.30 | D | 15,435 | 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 | $10.43 | Jun 20, 2018 | M | 5,000 | D | — | Oct 1, 2020 | Class C Non-Voting Common Stock | 5,000 | 0 | D |
Explanation of responses
- F1Transaction effected pursuant to a trading plan adopted by Mr. Mullery in accordance with Rule 10b5-1.
- F2In connection with the net share settlement of the exercise of 5,000 vested stock appreciation rights ("SARs") granted in October 2010 with a grant price of $10.43 per share, Mr. Mullery was entitled to receive 4,453 shares of the Federal Agricultural Mortgage Corporation's ("Farmer Mac") Class C Non-Voting Common Stock. Farmer Mac retained 2,151 shares to satisfy tax withholding requirements arising from the exercise, and 2,302 shares retained by Mr. Mullery were sold on June 22, 2018. The 547 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 6,758 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 August 31, 2011 with respect to 1,667 shares, beginning August 31, 2012 with respect to 1,667 shares, and beginning August 31, 2013 with respect to 1,666 shares.