NORDHOLM BRADFORD T 4

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.