AGM Director Receives 117 Shares; 376 RSUs Vest 03/31/2026

Rhea-AI Filing Summary

The Form 4 shows that Farm Credit director Amy H. Gales acquired 117 shares of Federal Agricultural Mortgage Corp Class C Non-Voting Common Stock on 09/30/2025 at a reported market price of $167.98 per share. The filing states the shares were issued under her election to receive newly issued shares in lieu of part or all of her quarterly cash retainer, with the price set at the NYSE closing price on the last business day of the quarter. After the transaction she beneficially owns 5,260 Class C shares, which includes 376 time-vested restricted stock units that will vest on 03/31/2026 if she remains a director on that date. The form was signed by an attorney-in-fact on 10/02/2025.

Positive

• 117 shares acquired via director election to receive equity instead of cash
• Includes 376 time-vested restricted stock units vesting on 03/31/2026

Negative

• None.

Insights

Corporate Governance Specialist

Director accepted equity pay: 117 shares at $167.98; 376 RSUs vesting 03/31/2026.

The filing documents a routine director compensation election where Amy H. Gales received 117 newly issued Class C shares instead of cash on 09/30/2025, priced at the NYSE close of $167.98. This is a non-cash compensation mechanism commonly used to align directors with shareholder interests.

The reported beneficial ownership of 5,260 shares includes 376 time-vested restricted stock units scheduled to vest on 03/31/2026, contingent on continued board service. The transaction and vesting schedule are disclosed as required under Section 16.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gales Amy H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class C Non-Voting Common Stock	117	$167.98	$20K

Holdings After Transaction: Class C Non-Voting Common Stock — 5,260 shares (Direct)

Footnotes (1)

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 September 30, 2025, the last business day of the quarter, as reported by the New York Stock Exchange. 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.

Form 4 Insider Transactions: What Each Field Means →

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).

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 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)
09/30/2025

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	09/30/2025		A		117(1)	A	$167.98	5,260(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 September 30, 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 Amy H. Gales	10/02/2025
	** 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 transaction did Amy H. Gales report on the Form 4 for AGM?

She reported acquiring 117 shares of Class C Non-Voting Common Stock on 09/30/2025 at a price of $167.98 per share.

Why were the 117 shares issued to the director?

The shares were issued under the director's election to receive newly issued shares in lieu of some or all of her quarterly cash retainer, priced at the NYSE closing price on 09/30/2025.

How many Class C shares does the reporting person beneficially own after the transaction?

The Form 4 reports beneficial ownership of 5,260 Class C shares following the reported transaction.

Are there any restricted stock units disclosed in the filing for AGM director?

Yes. The beneficial ownership includes 376 time-vested restricted stock units that will vest on 03/31/2026 if the reporting person remains a director.

When was the Form 4 signed and filed for this transaction?

The signature by attorney-in-fact is dated 10/02/2025 as shown on the Form 4.