Pullins Matthew M 4

What Happened

• Matthew M. Pullins, EVP, Chief Financial Officer and Treasurer of Federal Agricultural Mortgage Corporation (AGM), received equity awards on March 5, 2026. The filing shows three awards: 1,323 time‑vested restricted stock units (RSUs), 662 shares granted (no cash paid), and 2,631 derivative awards reported as a target performance award — total 4,616 units — all granted for no consideration (reported value $0).

Key Details

• Transaction date: March 5, 2026; Form 4 filed March 9, 2026.
• Award amounts and notes:
  • 1,323 RSUs (time‑vested) — each RSU converts to one share on vesting; the 1,323 are described as three equal installments of 441 RSUs vesting March 31 of 2027, 2028 and 2029 (Footnote F1).
  • 662 shares granted for no consideration (Footnote F6 references a grant of stock appreciation rights under the Plan).
  • 2,631 target performance‑based RSUs (derivative) — these vest March 31, 2029 only if Farmer Mac meets specified performance objectives for 2026–2028, subject to regulatory/asset‑quality gatekeepers; actual payout may be adjusted and will not exceed 200% of target (Footnotes F3–F4).
  • Footnote F5 describes a three‑year exercisable/vesting schedule (877 shares each on March 31, 2027/2028/2029) related to the awards.
• Cash value: granted for no consideration (exercise/purchase price $0).
• Shares owned after the transaction: not specified in the provided summary — see the full Form 4 for reported holdings and total beneficial ownership.
• Filing timeliness: Form filed March 9, 2026 reporting March 5, 2026 transactions; no late‑filing flag is shown in the supplied data.

Context

• Time‑vested RSUs and performance RSUs are contingent rights to receive shares only upon vesting; they do not represent immediate saleable stock. Stock appreciation rights (SARs), if applicable, are derivative awards that pay the increase in value rather than delivering underlying shares until exercised/settled.
• Grants to executives are common as part of compensation and do not by themselves indicate buy or sell sentiment. Performance RSUs depend on company results and regulatory gates before any shares would be delivered.
• For full detail (exact post‑transaction holdings, award agreements, and any tax‑withholding provisions), review the complete SEC Form 4 filing (accession 0000845877-26-000056).