Farmland Partners (NYSE: FPI) chair reports new stock and PSU awards
Rhea-AI Filing Summary
Farmland Partners Inc. executive chairman Paul A. Pittman reported equity compensation awards and a small tax-related share withholding. On February 17, 2026, he received a grant of 26,519 restricted common shares as part of his 2025 bonus, vesting in three equal annual installments.
He was also granted two blocks of 3,806 Performance Stock Units (PSUs) each, tied to absolute and relative total shareholder return over a three-year performance period beginning on December 31, 2025, with actual shares earned ranging from 0% to 150% of target. On February 18, 2026, 1,694 common shares were forfeited to cover tax obligations from vesting, a non-cash, tax-withholding disposition.
After these transactions, Pittman holds over 1.6 million common shares directly and additional indirect holdings through an LLC he controls, his spouse, and his daughters, reflecting significant ongoing alignment with shareholders.
Positive
- None.
Negative
- None.
Insights
Routine equity awards increase alignment; tax withholding is non-sale.
The executive chairman of Farmland Partners Inc. received restricted stock and PSU awards linked to total shareholder return. These grants expand his equity stake and tie future compensation to multi-year performance, a common structure in REIT executive pay.
PSUs based on absolute and relative TSR over a three-year period beginning on December 31, 2025 reinforce long-term incentives. The forfeiture of 1,694 shares to satisfy tax obligations is a standard F-code transaction and not an open-market sale, so it does not signal discretionary selling.
He also reports substantial indirect holdings via an LLC he controls and family accounts. Overall, this set of transactions looks like routine compensation and tax events, without indications of a change in his economic exposure to the company.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 1,694 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 3,806 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 3,806 | $0.00 | -- |
| Grant/Award | Common Stock | 26,519 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- As part of Mr. Pittman's bonus compensation for the year ended December 31, 2025, he received a grant of 26,519 restricted shares of common stock pursuant to the Farmland Partners Inc. Fourth Amended and Restated 2014 Equity Incentive Plan, which shares will vest ratably on each of the first three anniversaries of the date of the grant. These shares were forfeited to satisfy Mr. Pittman's tax obligations in connection with the vesting of restricted shares of common stock. The shares are held by PJAC Farmland Partners, LLC, an entity controlled by the Reporting Person. Represents Performance Stock Units ("PSUs") granted to the reporting person pursuant to the Fourth Amended and Restated 2014 Equity Incentive Plan. Each PSU represents a contingent right to receive one share of common stock. The PSUs will be eligible to be earned by the reporting person based on the achievement by Farmland Partners Inc. with respect to an absolute total shareholder return ("TSR") performance goal over a three-year performance period beginning on December 31, 2025. The number of PSUs indicated reflects the "target" number of PSUs granted to the reporting person and the number of PSUs earned could range from 0% to 150% of such target number. Represents PSUs granted to the reporting person pursuant to the Fourth Amended and Restated 2014 Equity Incentive Plan. Each PSU represents a contingent right to receive one share of common stock. The PSUs will be eligible to be earned by the reporting person based upon Farmland Partners Inc.'s relative TSR compared to the TSR of the companies in the MSCI US REIT Net Total Return Index over a three year performance period beginning on December 31, 2025. The number of PSUs indicated reflects the "target" number of PSUs granted to the reporting person and the number of PSUs earned could range from 0% to 150% of such target number.
