Federal Agricultural Mortgage Corp (AGM) director reports stock-based retainer

Rhea-AI Filing Summary

Federal Agricultural Mortgage Corp (Farmer Mac) director equity grant: A company director acquired 23 shares of Farmer Mac Class C Non-Voting Common Stock on 12/31/2025 at a market value of $175.57 per share. The shares were issued under the director’s prior election to receive newly issued stock instead of a portion of the regular cash retainer, using the New York Stock Exchange closing price on the last business day of the quarter.

After this transaction, the director beneficially owned a total of 3,975 Class C Non-Voting shares. This total includes 376 time-vested restricted stock units that are scheduled to vest on March 31, 2026, if the individual continues to serve as a director on that date. The filing reflects a routine compensation-related share issuance rather than an open-market trade.

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

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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^*

Ware Todd P

(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)
12/31/2025

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	12/31/2025		A		23(1)	A	$175.57	3,975(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 December 31, 2025, the last business day of the quarter, as reported by the New York Stock Exchange.

2. Includes 376 time-vested restricted stock units of Farmer Mac's Class C Non-Voting Common Stock that will vest on March 31, 2026 if the Reporting Person remains a director of Farmer Mac on that date.

Remarks:

	Geraldine I. Hayhurst, as attorney-in-fact for Todd P. Ware	01/05/2026
	** 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 insider transaction was reported for FEDERAL AGRICULTURAL MORTGAGE CORP (AGM)?

The filing reports that a director acquired 23 shares of Class C Non-Voting Common Stock on 12/31/2025 through an election to receive stock instead of part of the quarterly cash retainer.

What price was used for the AGM shares issued to the director?

The shares were valued at the $175.57 closing price of Farmer Mac’s Class C Non-Voting Common Stock on December 31, 2025, as reported by the New York Stock Exchange.

How many AGM shares does the director beneficially own after this transaction?

Following the reported transaction, the director beneficially owned 3,975 shares of Farmer Mac’s Class C Non-Voting Common Stock.

How are restricted stock units reflected in the director’s AGM holdings?

The total includes 376 time-vested restricted stock units of Class C Non-Voting Common Stock that will vest on March 31, 2026, if the director remains on the board on that date.

Was this AGM Form 4 transaction part of a director compensation program?

Yes. The 23 shares were issued under the director’s existing election to purchase newly issued Class C Non-Voting shares at market value in lieu of receiving some or all of the quarterly cash retainer.

Is there any indication this AGM insider trade was under a Rule 10b5-1 plan?

The form includes a checkbox for transactions under Rule 10b5-1(c) plans, but the excerpt does not show that this box was selected for the reported transaction.