Landi Susan M. 4
4 · Farmland Partners Inc. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
Farmland Partners (FPI) CFO Susan Landi Receives Stock Awards
What Happened
Susan M. Landi, Chief Financial Officer of Farmland Partners, was granted 3,652 restricted shares of common stock and two performance-based awards (524 PSUs each, total 1,048 PSUs) on Feb 17, 2026. In connection with vesting, 429 shares were forfeited on Feb 18, 2026 to satisfy tax withholding. All grants show an acquisition price of $0.00, indicating compensation awards rather than market purchases.
Key Details
- Transaction dates: Grants on 2026-02-17; tax withholding forfeiture on 2026-02-18. Filing accession date: 2026-02-19 (filed within the typical 2-business-day Form 4 window).
- Grant amounts and pricing: 3,652 restricted shares @ $0.00; two PSU grants of 524 PSUs each (derivative awards) @ $0.00; 429 shares forfeited (code F) @ $0.00 to cover taxes.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Notable footnotes:
- Restricted shares (3,652) vest ratably over the first three anniversaries of the grant (F1).
- 429 shares were forfeited specifically to satisfy Ms. Landi’s tax obligations on vesting (F2).
- One PSU grant is tied to an absolute total shareholder return (TSR) goal over a three‑year period beginning Dec 31, 2025 (target PSUs shown; payout range 0%–150%) (F3).
- The other PSU grant is tied to Farmland’s relative TSR vs. the MSCI US REIT Net Total Return Index over the same three‑year performance period (target PSUs shown; payout range 0%–150%) (F4).
Context
- Restricted shares are compensation awards that vest over time (not an open‑market purchase). The forfeiture of shares to cover taxes is a routine, non‑indicative action (code F).
- PSUs are derivative, performance‑based awards that may convert to shares only if specified TSR goals are met; the number earned can be 0%–150% of target.
- These transactions reflect compensation and tax withholding rather than an insider buying or selling stock as a market signal.
Insider Transaction Report
Form 4
Landi Susan M.
Chief Financial Officer
Transactions
- Award
Common Stock
[F1]2026-02-17+3,652→ 14,229 total - Tax Payment
Common Stock
[F2]2026-02-18−429→ 13,800 total - Award
Performance Stock Units
[F3]2026-02-17+524→ 1,056 total→ Common Stock (524 underlying) - Award
Performance Stock Units
[F4]2026-02-17+524→ 1,056 total→ Common Stock (524 underlying)
Footnotes (4)
- [F1]As part of Ms. Landi's bonus compensation for the year ended December 31, 2025, she received a grant of 3,652 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.
- [F2]These shares were forfeited to satisfy Ms. Landi's tax obligations in connection with the vesting of restricted shares of common stock.
- [F3]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.
- [F4]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.
Signature
/s/ Christine M. Garrison, as attorney-in-fact for Susan M. Landi|2026-02-19