AGM EVP Brian Brinch Withholds 476 Shares to Cover Taxes

What Happened
Brian M. Brinch, EVP and Chief Risk Officer of Federal Agricultural Mortgage Corp (AGM), had 476 shares of Farmer Mac Class C stock withheld on March 31, 2026 to satisfy tax withholding related to vested restricted stock units. The 476 shares were valued at $144.36 each, for a total of $68,715. These were net-share withholdings tied to multiple RSU vesting events (time-based and performance-based), not an open-market sale.

Key Details

• Transaction date: March 31, 2026 (Form 4 filed April 2, 2026; reporting period 2026-03-31). No indication the filing was late.
• Transaction code: F (payment of exercise price or tax liability — here, tax withholding via share retention).
• Shares withheld/disposed: 476 at $144.36 each; total value $68,715.
• Withholding breakdown (per footnotes): 83 shares from March 2023 time-based RSUs, 246 shares from March 2023 performance RSUs (508 vested at a 200% factor on 254 target units), 66 shares from March 2024 time-based RSUs, and 81 shares from March 2025 time-based RSUs — total withheld = 476.
• Price used for withholding: closing price on the NYSE on the last trading day before vesting (company policy).
• Shares owned after transaction: not specified in the provided filing. Filing notes 1,872 unvested RSUs remain and that beneficial ownership was adjusted to reflect the 254 extra performance shares that vested.

Context
This is a routine tax-withholding (net-share settlement) following RSU vesting — common corporate practice and not an open-market sale signaling a change in insider sentiment. The filing documents a mix of time-based and performance-based RSU vestings (including a performance payout at 200%), and the company retained shares to satisfy the tax obligation.