Earnings Feed
Start Free
FEDERAL AGRICULTURAL MORTGAGE CORP·4

Mar 9, 4:50 PM ET

Brinch Brian M 4

Research Summary

AI-generated summary

Updated

Farmer Mac (AGM) EVP Brian Brinch Receives RSU & SAR Awards

What Happened

  • Brian M. Brinch, EVP and Chief Risk Officer of Federal Agricultural Mortgage Corp (Farmer Mac, ticker AGM), was granted a total of 2,206 equity awards on March 5, 2026. The filing shows acquisitions at $0.00 (no cash paid): 633 time‑vested restricted stock units (RSUs), 316 stock appreciation rights (SARs), and a target award of 1,257 performance‑based RSUs (derivative). These awards are subject to vesting and/or performance conditions.

Key Details

  • Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely).
  • Reported grants: 633 RSUs (time‑vested), 316 SARs (stock appreciation rights), 1,257 target performance RSUs (derivative).
  • Price: $0.00 per award (grants for no consideration).
  • Shares affected in total: 2,206 awards.
  • Shares owned after transaction: Not specified in the provided excerpt.
  • Notable footnotes:
    • F1: 633 RSUs vest in three equal installments of 211 on 3/31/2027, 3/31/2028 and 3/31/2029 if employed on those dates.
    • F3–F4: 1,257 is the target number of performance RSUs that vest contingent on cumulative core earnings before credit over 2026–2028 and other regulatory/asset‑quality "gatekeepers"; payout may be adjusted up to 200% of target.
    • F5: (related vesting/exercisability schedule) references 419‑share installments (i.e., 1,257/3) starting 3/31/2027.
    • F6: Confirms a grant of SARs under the company plan.
    • F2: The filing notes 1,649 unvested RSUs previously awarded (from prior filings).
  • Timeliness: Filed within the required two business days after the March 5 transaction (filed March 9).

Context

  • Time‑vested RSUs represent the right to receive one share on vesting; performance RSUs only convert to shares if performance and specified gates are met (may pay out up to 200% of target). SARs are derivative awards that pay the appreciation in stock price (cash or stock) upon exercise and are typically exercisable according to a schedule.
  • These are compensatory grants (routine for executives) and do not by themselves indicate buying or selling sentiment by the insider.