Ware Todd P 4

What Happened

• Todd P. Ware, a director of Federal Agricultural Mortgage Corp. (Farmer Mac, ticker AGM), acquired 28 newly issued Class C Non‑Voting Common shares on March 31, 2026. The shares were issued at the closing market price of $148.35 per share, for a total value of $4,154. The transaction is reported as an acquisition/award (code A) and resulted from Ware’s election to receive stock instead of part or all of his quarterly cash retainer.

Key Details

• Transaction date and price: 2026-03-31 at $148.35 per share.
• Shares acquired: 28; total value approx. $4,154.
• Transaction type: A (Grant/Award/Other acquisition) via director election to receive newly issued shares in lieu of cash.
• Filing: Report filed 2026-04-02 (timely under Section 16 two-business-day rule).
• Holdings note: Filing references 471 unvested restricted stock units (RSUs) that will vest on 2027-03-31 if Ware remains a director; total post-transaction beneficial ownership not specified in the Form 4.

Context

• This was a routine issuance under a director’s pre-existing election to convert cash retainer to stock at market value (closing price on the quarter-end trading day). Such elections are common and are typically administrative rather than a direct bullish signal about the company.