Farmland Partners (NYSE: FPI) grants stock and PSUs to GC

Rhea-AI Filing Summary

Farmland Partners Inc. reported equity compensation and related tax withholding transactions by its General Counsel and Secretary, Christine M. Garrison10,958 restricted shares of common stock under the company’s Fourth Amended and Restated 2014 Equity Incentive Plan, which will vest in equal parts on each of the first three anniversaries of the grant date.

To cover tax obligations arising from the vesting of restricted shares, 1,200 common shares were forfeited at no stated price. In addition, Garrison was granted two separate awards of 1,572 Performance Stock Units (PSUs) each, with each PSU representing a contingent right to one common share. One PSU grant is tied to an absolute total shareholder return (TSR) goal over a three-year performance period beginning on December 31, 2025, and the other to Farmland Partners’ relative TSR versus the MSCI US REIT Net Total Return Index over the same three-year period. For each grant, the indicated amount reflects the target number of PSUs, and the actual number earned may range from 0% to 150% of target based on performance.

02/19/2026 - 08:01 PM

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

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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^*

Garrison Christine M.

(Last) (First) (Middle)

C/O FARMLAND PARTNERS INC.

4600 S. SYRACUSE STREET SUITE 1450

(Street)

DENVER CO 80237

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Farmland Partners Inc. [ FPI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	General Counsel and Secretary

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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
Common Stock	02/17/2026		A		10,958(1)	A	$0	44,547	D
Common Stock	02/18/2026		F		1,200(2)	D	$0	43,347	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
Performance Stock Units	(3)	02/17/2026		A		1,572		(3)	(3)	Common Stock	1,572	$0	4,391	D
Performance Stock Units	(4)	02/17/2026		A		1,572		(4)	(4)	Common Stock	1,572	$0	4,391	D

Explanation of Responses:

1. As part of Ms. Garrison's bonus compensation for the year ended December 31, 2025, she received a grant of 10,958 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.

2. These shares were forfeited to satisfy Ms. Garrison's tax obligations in connection with the vesting of restricted shares of common stock.

3. 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.

4. 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.

	/s/ Christine M. Garrison	02/19/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did Farmland Partners Inc. (FPI) report for Christine M. Garrison?

Christine M. Garrison reported equity grants and a tax-related forfeiture. She received 10,958 restricted common shares and two 1,572-share Performance Stock Unit grants, and forfeited 1,200 common shares to satisfy tax obligations related to restricted stock vesting, according to the Form 4 disclosure.

How many restricted shares did FPI grant to Christine M. Garrison and how do they vest?

Farmland Partners granted 10,958 restricted common shares to Christine M. Garrison as part of her 2025 bonus. These shares vest ratably over three years, with one-third vesting on each of the first three anniversaries of the grant date under the company’s equity incentive plan.

Why were 1,200 Farmland Partners (FPI) shares forfeited by Christine M. Garrison?

1,200 common shares were forfeited to cover Christine M. Garrison’s tax obligations from vesting restricted stock. Instead of paying cash for taxes, a portion of her shares was withheld, a common method for satisfying income tax liabilities on equity compensation.

What are the terms of the Performance Stock Units granted to Christine M. Garrison by FPI?

Christine M. Garrison received two grants of 1,572 Performance Stock Units (PSUs) each. Every PSU is a contingent right to one common share, earned over a three-year performance period starting December 31, 2025, based on total shareholder return performance criteria.

How is Farmland Partners’ performance measured for Christine M. Garrison’s PSU awards?

One PSU grant depends on absolute total shareholder return (TSR) over three years from December 31, 2025. The other depends on Farmland Partners’ TSR relative to the MSCI US REIT Net Total Return Index over the same three-year period, with payouts from 0% to 150% of target.

What potential share payout range applies to Christine M. Garrison’s PSUs at Farmland Partners (FPI)?

For each PSU grant, the target amount is 1,572 PSUs, but the number ultimately earned can range from 0% to 150% of that target. Actual shares delivered will depend on Farmland Partners’ TSR performance against the specified absolute or relative benchmarks.