Farmer Mac (NYSE: AGM) director takes fee as 86 Class C shares

Rhea-AI Filing Summary

Federal Agricultural Mortgage Corp director James R. Engebretsen acquired 86 shares of Class C Non-Voting Common Stock as a grant in lieu of part of his quarterly cash retainer. The shares were valued at $199.27 each, based on the June 30, 2026 New York Stock Exchange closing price.

After this grant, he directly holds 16,845 shares of Class C Non-Voting Common Stock. This total includes 471 unvested restricted stock units that are scheduled to vest on March 31, 2027, provided he continues to serve as a director of Farmer Mac on that date.

Insider Trade Summary

Net Buyer: 86 shares

Net Buy 1 txn

Insider Engebretsen James R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class C Non-Voting Common Stock	86	$199.27	$17K

Holdings After Transaction: Class C Non-Voting Common Stock — 16,845 shares (Direct)

Footnotes (2)

1. F1. Shares were issued pursuant to the director's existing election to purchase, at market value, newly issued shares of the Federal Agricultural Mortgage Corporation's ("Farmer Mac") Class C Non-Voting Common Stock in lieu of receiving some or all of the director's quarterly retainer in cash. The market value is the closing price of the stock on June 30, 2026, the last business day of the quarter, as reported by the New York Stock Exchange.
2. F2. Includes 471 unvested restricted stock units of Farmer Mac's Class C Non-Voting Common Stock that will vest on March 31, 2027, if the Reporting Person remains a director of Farmer Mac on that date.

Key Figures

Shares granted: 86 shares Grant price: $199.27 per share Total direct holdings: 16,845 shares +1 more

4 metrics

Shares granted 86 shares Class C Non-Voting Common Stock grant on June 30, 2026

Grant price $199.27 per share NYSE closing price on June 30, 2026 used as market value

Total direct holdings 16,845 shares Class C Non-Voting Common Stock after this grant

Unvested RSUs 471 units Restricted stock units vesting March 31, 2027 if still director

Key Terms

Class C Non-Voting Common Stock, quarterly retainer, restricted stock units

3 terms

Class C Non-Voting Common Stock financial

"Shares were issued pursuant to the director's existing election to purchase, at market value, newly issued shares of the ... Class C Non-Voting Common Stock"

quarterly retainer financial

"in lieu of receiving some or all of the director's quarterly retainer in cash"

restricted stock units financial

"Includes 471 unvested restricted stock units of Farmer Mac's Class C Non-Voting Common Stock that will vest on March 31, 2027"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:19 PM Accepted by SEC EDGAR 07/02/2026 - 04:19 PM Learn about SEC filing dates

FAQ

What did AGM director James R. Engebretsen report in this Form 4?

James R. Engebretsen reported receiving 86 shares of Class C Non-Voting Common Stock as part of his director compensation. The shares were granted instead of some cash fees and are treated as an acquisition under a grant or award transaction code.

How were the 86 AGM Class C shares for the director priced?

The 86 Class C Non-Voting Common shares were valued at $199.27 each. This price equals the New York Stock Exchange closing price on June 30, 2026, which is the last business day of the quarter used to determine the market value.

Why did the AGM director receive shares instead of cash compensation?

The director had an existing election to purchase newly issued Class C Non-Voting Common Stock at market value in lieu of some or all of his quarterly cash retainer. This election converted a portion of his cash fees into equity-based compensation for that quarter.

What are James R. Engebretsen’s AGM shareholdings after this transaction?

Following the grant, he directly holds 16,845 shares of Class C Non-Voting Common Stock. This figure includes 471 unvested restricted stock units that remain subject to vesting conditions tied to his continued service on the company’s board.

When will the AGM director’s unvested restricted stock units vest?

The 471 unvested restricted stock units of Class C Non-Voting Common Stock are scheduled to vest on March 31, 2027. Vesting is contingent on James R. Engebretsen continuing to serve as a director of Farmer Mac on that specific vesting date.

Is this AGM Form 4 transaction an open-market stock purchase?

No, this transaction is not an open-market purchase. It is categorized as a grant, award, or other acquisition, reflecting shares issued under a pre-existing election to take director retainer fees in stock rather than in cash for the relevant quarter.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Engebretsen James R

(Last) (First) (Middle)

C/O FARMER MAC

2100 PENNSYLVANIA AVE NW, SUITE 450N

(Street)

WASHINGTON DISTRICT OF COLUMBIA 20037

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FEDERAL AGRICULTURAL MORTGAGE CORP [ AGM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class C Non-Voting Common Stock	06/30/2026		A		86(1)	A	$199.27	16,845(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares were issued pursuant to the director's existing election to purchase, at market value, newly issued shares of the Federal Agricultural Mortgage Corporation's ("Farmer Mac") Class C Non-Voting Common Stock in lieu of receiving some or all of the director's quarterly retainer in cash. The market value is the closing price of the stock on June 30, 2026, the last business day of the quarter, as reported by the New York Stock Exchange.

2. Includes 471 unvested restricted stock units of Farmer Mac's Class C Non-Voting Common Stock that will vest on March 31, 2027, if the Reporting Person remains a director of Farmer Mac on that date.

Remarks:

	Geraldine I. Hayhurst, as attorney-in-fact for James R. Engebretsen	07/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)