[Form 4] Federal Agricultural Mortgage Corporation Class A Voting Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for Federal Agricultural Mortgage Corporation (AGM) reports that director Eric T. McKissack acquired 9 shares of the company’s Class C Non-Voting Common Stock on 30 June 2025 at a market price of $194.28 per share. The shares were issued under the director’s pre-existing election to receive equity rather than cash for a portion of his quarterly board retainer. Following the transaction, McKissack directly owns 2,366 shares, a figure that includes 376 time-vested restricted stock units scheduled to vest on 31 March 2026 if he remains a director. No derivative securities were reported, and the filing was signed by attorney-in-fact Stephen P. Mullery on 2 July 2025.

Positive

• Director compensation partially paid in equity, supporting shareholder alignment.
• No disposals reported; insider stake slightly increases.

Negative

• Acquisition size is de minimis (9 shares), offering negligible signaling value.

Insights

Securities Analyst

TL;DR: Small routine insider buy; neutral impact.

The purchase involves only 9 shares (~$1.7k), executed automatically under a cash-in-lieu election, not an open-market discretionary trade. While it marginally increases insider ownership and reflects alignment with shareholders, the volume is immaterial relative to AGM’s float and daily trading volumes. The filing does not signal a change in the company’s fundamentals or outlook. Overall, I classify the event as informationally neutral for investors.

Corporate Governance Expert

TL;DR: Governance-friendly equity retainer; limited signaling value.

Board compensation in stock rather than cash can enhance alignment, and the RSUs vesting in 2026 encourage director retention. However, the token size of this issuance—9 shares—is standard housekeeping, not a strategic insider accumulation. No red flags arise, but investors should not over-interpret the filing.

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
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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^*

McKissack Eric T

(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)
06/30/2025

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	06/30/2025		A		9(1)	A	$194.28	2,366(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 June 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:

	Stephen P. Mullery, as attorney-in-fact for Eric T. McKissack	07/02/2025
	** 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

How many AGM shares did director Eric T. McKissack acquire?

He acquired 9 shares of Class C Non-Voting Common Stock.

What was the purchase price per share in the Form 4 filing for AGM?

The shares were valued at $194.28, the closing price on 30 June 2025.

How many AGM shares does McKissack own after the transaction?

He now beneficially owns 2,366 shares, including 376 restricted stock units.

Was the AGM insider purchase discretionary or automatic?

It was automatic, stemming from a prior election to receive stock instead of cash for board retainers.

Do the reported restricted stock units (RSUs) have vesting conditions?

Yes, 376 RSUs will vest on 31 March 2026 if McKissack remains a director.