Farmer Mac (AGM) director receives 471 RSUs vesting in 2027

Rhea-AI Filing Summary

Engebretsen James R reported acquisition or exercise transactions in this Form 4 filing.

Federal Agricultural Mortgage Corp (Farmer Mac) director James R. Engebretsen received an equity grant of 471 restricted stock units of Class C Non-Voting Common Stock. The RSUs were granted for no cash consideration under Farmer Mac’s Amended and Restated 2008 Omnibus Incentive Plan.

All 471 RSUs will vest on March 31, 2027, if he continues to serve as a director through that date. Following this award, he beneficially owns 16,643 Class C Non-Voting Common shares, including 376 and 471 restricted shares scheduled to vest on March 31, 2026 and March 31, 2027, respectively, subject to continued board service.

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
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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 DC 20037

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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

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

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

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	03/05/2026		A		471(1)	A	$0(1)	16,643(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. Grant of restricted stock units ("RSUs") of Class C Non-Voting Common Stock under the Amended and Restated 2008 Omnibus Incentive Plan of the Federal Agricultural Mortgage Corporation ("Farmer Mac") for no consideration. All of the RSUs will vest on March 31, 2027, if the Reporting Person remains a director of Farmer Mac on that date.

2. Includes 376 and 471 restricted shares of Farmer Mac's Class C Non-Voting Common Stock that will vest on March 31, 2026, and March 31, 2027, respectively, 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	03/09/2026
	** 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.

FAQ

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

James R. Engebretsen reported receiving a grant of 471 restricted stock units of Farmer Mac Class C Non-Voting Common Stock. The award was made for no cash consideration under Farmer Mac’s Amended and Restated 2008 Omnibus Incentive Plan, as part of his director compensation.

How many Farmer Mac (AGM) RSUs were granted to James R. Engebretsen?

He was granted 471 restricted stock units of Farmer Mac’s Class C Non-Voting Common Stock. These units represent additional equity-based compensation and increase his total reported holdings of this class to 16,643 shares, combining previously held stock with newly awarded restricted shares.

When do the newly granted AGM RSUs to James R. Engebretsen vest?

All 471 newly granted RSUs will vest on March 31, 2027, if he remains a Farmer Mac director through that date. Vesting is contingent on continued board service, meaning the units do not fully belong to him until that vesting condition is satisfied.

How many AGM Class C Non-Voting shares does Engebretsen now hold after this grant?

After the grant, James R. Engebretsen beneficially owns 16,643 shares of Farmer Mac Class C Non-Voting Common Stock. This figure includes both fully vested shares and restricted shares subject to future vesting dates tied to his ongoing service as a director.

What vesting conditions apply to Engebretsen’s unvested AGM restricted shares?

His unvested holdings include 376 restricted shares vesting March 31, 2026 and 471 restricted shares vesting March 31, 2027. Both tranches require that he remain a director of Farmer Mac on the respective vesting dates for the restrictions to lapse.

What compensation plan governs James R. Engebretsen’s AGM RSU grant?

The RSU grant was made under Farmer Mac’s Amended and Restated 2008 Omnibus Incentive Plan. This plan provides equity-based compensation, such as restricted stock units, to directors and other eligible participants as part of their overall remuneration structure.