NORDHOLM BRADFORD T 4
4 · FEDERAL AGRICULTURAL MORTGAGE CORP · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Farmer Mac (AGM) CEO Bradford Nordholm Sells 15,949 Shares to Cover Taxes
What Happened
Bradford T. Nordholm, CEO of Federal Agricultural Mortgage Corp (Farmer Mac, AGM), had 15,949 shares withheld/sold on March 31, 2026 to satisfy tax withholding related to multiple restricted stock unit (RSU) vestings. The withheld shares were valued at $144.36 each for a reported disposition of $2,302,398. In total 33,015 RSUs vested on that date (including time‑based and performance‑based awards), of which 15,949 were retained for taxes and the remaining ~17,066 shares were delivered to Nordholm.
Key Details
- Transaction date: March 31, 2026; Filing date: April 2, 2026 (filed within normal Form 4 timing).
- Disposition: 15,949 shares withheld/sold at $144.36 per share for $2,302,398 (transaction code F = tax withholding).
- Vesting detail: 33,015 RSUs vested in total on 3/31/2026 (mix of time‑based and performance‑based grants from 2023–2025).
- Notable performance vesting: 2,174 target units vested at 200% and 15,000 target units vested at 164% (see footnotes).
- Price policy: Company used the prior trading day's NYSE closing price to calculate shares withheld for taxes.
- Remaining unvested: Filing notes 16,694 unvested RSUs remain from prior grants.
- Timeliness: Filing appears timely (filed two business days after the transaction date).
Context
- This was not an open‑market sale for liquidity or an explicit bearish signal; it reflects a common net‑settlement/tax withholding event when RSUs vest. The company withheld shares to meet tax obligations rather than the insider initiating a discretionary sale.
- Approximate values based on the reported $144.36 price: total vested value ≈ $4.77M; net value delivered to Nordholm after withholding ≈ $2.46M.
Insider Transaction Report
Form 4
NORDHOLM BRADFORD T
Chief Executive Officer
Transactions
- Tax Payment
Class C Non-Voting Common Stock
[F1][F2][F3][F4]2026-03-31$144.36/sh−15,949$2,302,398→ 37,430.451 total
Footnotes (4)
- [F1]On March 31, 2026, (i) 1,449 restricted stock units vested as the third installment of the time-based award granted in March 2023, for which the Federal Agricultural Mortgage Corporation ("Farmer Mac") retained 700 shares to satisfy withholding requirements, (ii) 4,348 performance-based restricted stock units vested that were granted in March 2023 (2,174 target units vesting at a 200% performance factor), for which Farmer Mac retained 2,101 shares to satisfy withholding requirements, (iii) 1,305 restricted stock units vested as the second installment of the time-based award granted in March 2024, for which Farmer Mac retained 631 shares to satisfy withholding requirements, and (iv) 1,313 restricted stock units vested as the first installment of the time-based award granted in March 2025, for which Farmer Mac retained 635 shares to satisfy withholding requirements.
- [F2]On March 31, 2026, 24,600 performance-based restricted stock units vested that were granted in March 2023 (15,00 target units vesting at a 164% performance factor), for which Farmer Mac retained 11,882 shares to satisfy withholding requirements.
- [F3]In accordance with a policy adopted by the Human Capital and Compensation Committee of Farmer Mac's Board of Directors, the price used for the calculation of the number of shares withheld by Farmer Mac in satisfaction of tax liability is the closing price of Farmer Mac's Class C Non-Voting Common Stock on the New York Stock Exchange on the last trading day before the vesting date.
- [F4]Includes 16,694 unvested restricted stock units previously granted pursuant to Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan. The grants of restricted stock units have been described in detail in Farmer Mac's prior filings with the Securities and Exchange Commission. The total amount of securities beneficially owned has been adjusted since the Reporting Person's last filing to reflect (i) 2,174 more shares that vested on March 31, 2026, as a result of applying a 200% performance factor to 2,174 target restricted stock units granted in March 2023 and (ii) 9,600 more shares that vested on March 31, 2026, as a result of applying a 164% performance factor to 15,000 target restricted stock units granted in March 2023.
Signature
Geraldine I. Hayhurst, as attorney-in-fact for Bradford T. Nordholm|2026-04-02