Garrison Christine M. 4
4 · Farmland Partners Inc. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
Farmland Partners (FPI) GC Christine Garrison Receives 10,958 RSUs + PSUs
What Happened
- Christine M. Garrison, General Counsel and Secretary of Farmland Partners Inc. (FPI), received an award of 10,958 restricted shares on 2026-02-17 (grant price $0.00). She also received two grants of Performance Stock Units (PSUs) totaling 3,144 target PSUs (1,572 PSUs each) on 2026-02-17 (derivative awards, $0.00). On 2026-02-18, 1,200 shares were forfeited/disposed to satisfy tax withholding related to vesting (reported as code F, $0.00).
- These were compensation awards (not open-market purchases or sales). The restricted shares are subject to vesting; the PSUs are contingent performance awards.
Key Details
- Transaction dates and prices:
- 2026-02-17: Grant of 10,958 restricted shares @ $0.00.
- 2026-02-17: Grant of 1,572 PSUs @ $0.00 (target).
- 2026-02-17: Grant of 1,572 PSUs @ $0.00 (target).
- 2026-02-18: Forfeiture of 1,200 shares to satisfy tax withholding @ $0.00.
- Shares owned after transaction: Not specified in this Form 4.
- Footnotes:
- F1: 10,958 restricted shares awarded as bonus compensation and vest ratably over the first three anniversaries of the grant.
- F2: 1,200 shares were forfeited to satisfy tax obligations upon vesting.
- F3: One PSU grant vests based on absolute total shareholder return (TSR) over a three-year period (target = 1,572 PSU; payout 0–150% of target).
- F4: The other PSU grant vests based on Farmland Partners’ relative TSR vs. the MSCI US REIT Net TR Index over a three-year period (target = 1,572 PSU; payout 0–150%).
- Filing timeliness: Form 4 filed 2026-02-19 reporting transactions dated 2026-02-17–02-18; appears timely under standard two-business-day reporting rules.
Context
- Restricted stock grants reported at $0.00 are standard for compensation awards; vesting schedules and performance conditions determine when (and if) shares become owned outright.
- The 1,200-share disposition was a tax-withholding forfeiture (routine), not an open-market sale — it does not necessarily indicate negative sentiment.
- PSUs are contingent (derivative) awards that may convert to shares depending on performance over a three-year period; the target count may be adjusted from 0% to 150% depending on results.
Insider Transaction Report
Form 4
Garrison Christine M.
General Counsel and Secretary
Transactions
- Award
Common Stock
[F1]2026-02-17+10,958→ 44,547 total - Tax Payment
Common Stock
[F2]2026-02-18−1,200→ 43,347 total - Award
Performance Stock Units
[F3]2026-02-17+1,572→ 4,391 total→ Common Stock (1,572 underlying) - Award
Performance Stock Units
[F4]2026-02-17+1,572→ 4,391 total→ Common Stock (1,572 underlying)
Footnotes (4)
- [F1]As part of Ms. Garrison's bonus compensation for the year ended December 31, 2025, she received a grant of 10,958 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. Garrison'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|2026-02-19