[Form 4] FEDERAL AGRICULTURAL MORTGAGE CORP Insider Trading Activity

Rhea-AI Filing Summary

Jeffrey L. Plagge, a director of Federal Agricultural Mortgage Corp (AGM), reported a non-derivative purchase on 09/30/2025 of 49 shares of Class C Non‑Voting Common Stock at a closing market price of $167.98. The shares were issued under his pre-existing election to receive newly issued stock in lieu of some or all of his quarterly cash retainer; the price used was the NYSE closing price on the last business day of the quarter. After the reported transaction Mr. Plagge beneficially owns 772 shares, which includes 376 time‑vested restricted stock units that will vest on 03/31/2026 provided he remains a director.

Positive

• 49 shares were acquired via a director election to receive equity instead of cash, aligning interests with shareholders
• Beneficial ownership includes 376 restricted stock units vesting on 03/31/2026, supporting director retention

Negative

• None.

Insights

Corporate Governance Analyst

Director chose equity compensation, increasing director alignment with shareholders.

The filing shows a director elected to receive 49 shares instead of cash at a market price of $167.98, indicating use of an existing director compensation election. Equity receipt by a board member ties compensation to shareholder value over time.

The filing also discloses 376 restricted stock units that vest on 03/31/2026, which preserves retention incentives for continued board service.

Compliance & Disclosure Specialist

Transaction properly reported under Section 16; signature executed by attorney-in-fact.

The Form 4 records the 09/30/2025 transaction and is signed by Geraldine I. Hayhurst as attorney-in-fact on 10/02/2025. The explanation clearly states the shares were issued pursuant to the director's election and cites the NYSE closing price as the valuation method.

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^*

Plagge Jeffrey L.

(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		49(1)	A	$167.98	772(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 Jeffrey L. Plagge	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 AGM director Jeffrey L. Plagge report on Form 4?

He reported acquiring 49 shares of Class C Non‑Voting Common Stock on 09/30/2025 under an election to receive stock instead of cash.

At what price were the shares issued to the director (AGM)?

The shares were issued at the NYSE closing price on 09/30/2025, reported as $167.98.

How many shares does Jeffrey L. Plagge beneficially own after the transaction?

The Form 4 reports beneficial ownership of 772 shares following the transaction.

Does the Form 4 disclose any unvested awards for the director?

Yes. It includes 376 time‑vested restricted stock units that will vest on 03/31/2026 if he remains a director.

Who signed the Form 4 filing for Jeffrey L. Plagge and when?

The filing was signed by Geraldine I. Hayhurst as attorney‑in‑fact for Jeffrey L. Plagge on 10/02/2025.