FEDERAL AGRICULTURAL MORTGAGE CORP 4
4 · FEDERAL AGRICULTURAL MORTGAGE CORP · Filed Nov 18, 2016
Insider Transaction Report
Form 4
BUZBY TIMOTHY L
Vice President - CFO
Transactions
- Exercise/Conversion
Class C Non-Voting Common Stock
2016-11-16$12.20/sh+15,000$183,000→ 59,722 total - Tax Payment
Class C Non-Voting Common Stock
2016-11-16$52.55/sh−5,495$288,762→ 54,227 total - Exercise/Conversion
Stock Appreciation Right
2016-11-16$12.20/sh−15,000$183,000→ 0 totalExercise: $12.20Exp: 2020-04-01→ Class C Non-Voting Common Stock (15,000 underlying) - Disposition to Issuer
Class C Non-Voting Common Stock
2016-11-16$52.55/sh−3,482$182,979→ 50,745 total - Sale
Class C Non-Voting Common Stock
2016-11-16$51.75/sh−2,867$148,375→ 44,722 total - Sale
Class C Non-Voting Common Stock
2016-11-17$49.00/sh−6,023$295,127→ 44,722 total
Footnotes (5)
- [F1]Transaction effected pursuant to a trading plan adopted by Mr. Buzby in accordance with Rule 10b5-1.
- [F2]The price reported in Column 4 is a weighted average price. These shares of Class C Non-Voting Common Stock were sold in multiple transactions at prices ranging from $51.75 to $51.825, inclusive. The Reporting Person undertakes to provide to the Federal Agricultural Mortgage Corporation ("Farmer Mac"), any security holder of Farmer Mac, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to Form 4.
- [F3]Includes 34,814 shares of unvested restricted stock previously granted pursuant to Farmer Mac's 2008 Omnibus Incentive Plan. The grants of restricted stock have been described in detail in Farmer Mac's prior filings with the Securities and Exchange Commission.
- [F4]Mr. Buzby received 6,023 shares of Farmer Mac's Class C Non-Voting Common Stock upon net share settlement of his exercise of his remaining 15,000 stock appreciation rights awarded in 2010 with a grant price of $12.20 per share. That exercise entitled Mr. Buzby to receive 11,518 shares of the Corporation's Class C Non-Voting Common Stock, and 5,495 shares were retained by Farmer Mac to satisfy tax withholding requirements arising from the exercise. Each stock appreciation right represents the right to receive, upon exercise, the number of shares of Farmer Mac's Class C Non-Voting Common Stock equal to the excess of the fair market value of shares on the exercise date over the grant price.
- [F5]Exercisable beginning March 31, 2011 with respect to 15,000 shares beginning March 31, 2012, with respect to 15,000 shares and beginning March 31, 2013 with respect to 15,000 shares.