Earnings Feed
Start Free
FEDERAL AGRICULTURAL MORTGAGE CORP·4

Mar 9, 4:50 PM ET

Carpenter Zachary 4

Research Summary

AI-generated summary

Updated

Farmer Mac (AGM) President Zachary Carpenter Receives RSU & SAR Awards

What Happened
Zachary Carpenter, President and Chief Operating Officer of Federal Agricultural Mortgage Corp (Farmer Mac, AGM), was granted equity awards on March 5, 2026: 1,398 time‑vested restricted stock units (RSUs), a target award of 699 performance‑based RSUs, and 2,778 stock appreciation rights (SARs). All awards were granted for no cash consideration (reported price $0.00). The performance RSUs are a target amount that may increase up to 200% based on performance; the SARs are derivative awards that provide value tied to future share price appreciation.

Key Details

  • Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (filing appears timely).
  • Awards and reported amounts: 1,398 RSUs @ $0.00; 699 performance RSUs (target) @ $0.00; 2,778 SARs (derivative) @ $0.00.
  • Vesting/exercise schedule: the 1,398 RSUs vest in three equal installments of 466 RSUs on March 31, 2027, 2028 and 2029 (if employed on those dates). The performance RSUs vest March 31, 2029 if performance gates are met. The SARs are exercisable in three tranches of 926 shares beginning March 31, 2027, 2028 and 2029.
  • Previously outstanding awards: filing notes 4,408 unvested RSUs previously granted (see prior Section 16 filings).
  • Performance cap: any performance RSU payout will not exceed 200% of the target award.
  • Shares owned after transaction: total vested/owned share count not specified in the provided excerpt; filing documents unvested awards as noted above.
  • Footnotes: grants made under Farmer Mac’s Amended and Restated 2008 Omnibus Incentive Plan; SARs described as derivative awards.

Context
RSUs are promises to issue shares upon vesting (no immediate share sale or purchase); performance RSUs depend on meeting multi‑year earnings and capital/asset quality conditions. SARs are derivative awards that pay the increase in share value (subject to plan terms) and are not the same as immediate stock purchases. Grants for no cash are routine compensation for executives and do not by themselves indicate buying or selling sentiment.