The Federal Agricultural Mortgage Corporation (“Farmer Mac”) is formalizing its CEO succession by setting July 1, 2026 as the date when Zachary N. Carpenter becomes Chief Executive Officer, succeeding Bradford T. Nordholm. Mr. Nordholm will serve as senior advisor to the CEO with the honorary title of CEO Emeritus through September 30, 2026.
An amended employment agreement adjusts Mr. Nordholm’s 2026 compensation, including prorated incentive salary and restricted stock units based on his service through the transition termination date, and revises his COBRA coverage period. Farmer Mac highlights that under Mr. Nordholm’s leadership since October 2018, it doubled annual earnings and grew outstanding business volume to more than $34 billion.
The Federal Agricultural Mortgage Corporation (Farmer Mac) reported that its board declared a quarterly dividend on its 6.875% Non-Cumulative Preferred Stock, Series I. The dividend is $0.2769097 per share for the period from but not including May 19, 2026, to and including July 17, 2026.
This Series I preferred dividend will be payable on July 17, 2026, to holders of record as of July 1, 2026. The company had previously declared dividends on its three classes of common stock and five other preferred series, as announced on May 13, 2026.