AGM (NYSE: AGM) director receives stock grant instead of cash retainer

Rhea-AI Filing Summary

Federal Agricultural Mortgage Corp director Amy H. Gales elected to receive stock instead of part of her cash retainer, acquiring 136 shares of Class C Non-Voting Common Stock at $148.35 per share on March 31, 2026.

After this grant, she holds 5,979 shares directly, including 471 unvested restricted stock units scheduled to vest on March 31, 2027 if she remains a director.

Insider Trade Summary

Net Buyer: 136 shares

Net Buy 1 txn

Insider Gales Amy H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class C Non-Voting Common Stock	136	$148.35	$20K

Holdings After Transaction: Class C Non-Voting Common Stock — 5,979 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 granted: 136 shares Grant price: $148.35 per share Total shares held after grant: 5,979 shares +2 more

5 metrics

Shares granted 136 shares Class C Non-Voting Common Stock grant on March 31, 2026

Grant price $148.35 per share Closing price on March 31, 2026 used for director election

Total shares held after grant 5,979 shares Director’s direct holdings following the March 31, 2026 grant

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

Transaction date March 31, 2026 Date of stock issuance based on NYSE closing price

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 Federal Agricultural Mortgage Corporation's ("Farmer Mac") 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 →

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

FAQ

What insider transaction did AGM director Amy H. Gales report?

Amy H. Gales reported receiving 136 shares of Federal Agricultural Mortgage Corp Class C Non-Voting Common Stock. The shares were issued on March 31, 2026 as part of her director compensation, in lieu of receiving an equivalent portion of her quarterly cash retainer.

At what price were the AGM shares granted to director Amy H. Gales?

The 136 shares granted to Amy H. Gales were valued at $148.35 per share. This price reflects the closing market value of Federal Agricultural Mortgage Corp’s Class C Non-Voting Common Stock on March 31, 2026, as reported by the New York Stock Exchange.

How many AGM shares does Amy H. Gales hold after this transaction?

Following the grant, Amy H. Gales directly holds 5,979 shares of Federal Agricultural Mortgage Corp Class C Non-Voting Common Stock. This total includes both previously held shares and the 136 newly issued shares received through her director compensation election.

Why did AGM issue shares to Amy H. Gales instead of paying cash?

Shares were issued because Amy H. Gales had an existing election to purchase newly issued Class C Non-Voting Common Stock at market value. This election allows her to receive some or all of her quarterly director retainer in stock rather than cash.

What unvested equity does AGM director Amy H. Gales have outstanding?

Amy H. Gales has 471 unvested restricted stock units of Federal Agricultural Mortgage Corp Class C Non-Voting Common Stock. These units are scheduled to vest on March 31, 2027, provided she continues to serve as a director on that date under the plan’s terms.

Is Amy H. Gales’ AGM stock grant an open-market purchase or compensation award?

The 136 AGM shares represent a compensation-related award, not an open-market purchase. They were issued under her prior election to take newly issued Class C Non-Voting Common Stock at market value instead of receiving part of her quarterly director retainer in cash.

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^*

Gales Amy H

(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		136(1)	A	$148.35	5,979(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 Amy H. Gales	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)