Farmer Mac director gains shares via retainer

Federal Agricultural Mortgage Corp director James R. Engebretsen acquired additional equity through a compensation election.

Rhea-AI Filing Summary

Federal Agricultural Mortgage Corp director James R. Engebretsen acquired additional equity through a compensation election. He received 116 shares of Class C Non-Voting Common Stock on March 31, 2026 at a market value of $148.35 per share, taken in stock instead of part of his quarterly cash retainer. Following this award, he directly holds 16,759 Class C Non-Voting shares, which includes 471 unvested restricted stock units scheduled to vest on March 31, 2027 if he remains a director.

Insider Trade Summary

Grant/Award: 116 shares

Grant/Award 1 txn

Insider Engebretsen James R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class C Non-Voting Common Stock	116	$148.35	$17K

Holdings After Transaction: Class C Non-Voting Common Stock — 16,759 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 March 31, 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 acquired: 116 shares Grant price: $148.35 per share Total direct holdings: 16,759 shares +1 more

4 metrics

Shares acquired 116 shares Class C Non-Voting Common Stock granted March 31, 2026

Grant price $148.35 per share Market value based on NYSE closing price March 31, 2026

Total direct holdings 16,759 shares Class C Non-Voting Common Stock after the reported transaction

Unvested RSUs 471 units Restricted stock units vesting March 31, 2027 if he remains a director

Key Terms

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

4 terms

Class C Non-Voting Common Stock financial

"Shares were issued pursuant to the director's existing election to purchase ... Class C Non-Voting Common Stock in lieu of receiving some or all of the director's quarterly retainer"

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.

quarterly retainer financial

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

market value financial

"The market value is the closing price of the stock on March 31, 2026"

Market value is the total worth investors place on a publicly traded company at a given moment, calculated by multiplying the current share price by the number of shares outstanding — like the price tag you’d see if you tried to buy the whole business today. It matters to investors because it shows how the market views a company’s size, growth prospects and risk, influences index membership and investment strategies, and helps compare companies the way you’d compare houses by their market prices.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did AGM director James R. Engebretsen report?

James R. Engebretsen reported acquiring 116 shares of Federal Agricultural Mortgage Corp Class C Non-Voting Common Stock. The shares were issued as part of his director compensation, taken in stock instead of cash for a portion of his quarterly retainer at the March 31, 2026 market price.

How many AGM shares did the director receive and at what price?

He received 116 shares of Class C Non-Voting Common Stock at a market value of $148.35 per share. That price reflects the New York Stock Exchange closing price on March 31, 2026, which is used to convert part of his quarterly cash retainer into stock.

Was James R. Engebretsen’s AGM transaction an open-market stock purchase?

No, the transaction reflects a grant tied to compensation, not an open-market purchase. The director had an existing election to receive newly issued shares at market value instead of some or all of his quarterly cash retainer, so the company issued 116 shares accordingly.

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

After the transaction, he directly holds 16,759 shares of Class C Non-Voting Common Stock. This figure includes 471 unvested restricted stock units that are scheduled to vest on March 31, 2027, provided he continues serving as a director through that vesting date.

What are the terms of the unvested AGM restricted stock units held by the director?

He holds 471 unvested restricted stock units of Class C Non-Voting Common Stock. These units are scheduled to vest on March 31, 2027, if he remains a director of Federal Agricultural Mortgage Corp through that date, adding to his direct equity stake when they vest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 05:33 PM Learn about SEC filing dates

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)
03/31/2026

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	03/31/2026		A		116(1)	A	$148.35	16,759(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 March 31, 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	04/02/2026
	** 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)