7 unchanged sentences
elect to receive shares of Class C non-voting common stock in lieu of their cash retainers, Farmer Mac
−Removed: issued an aggregate of 467 shares of its Class C non-voting common stock in July 2021 to the five
+Added: issued an aggregate of 373 shares of its Class C non-voting common stock in January 2022 to the five
directors who elected to receive stock in lieu of their cash retainers.
Farmer Mac calculated the number of
−Removed: shares issued to the directors based on a price of $98.90 per share, which was the closing price of the Class C non-voting common stock on June 30, 2021 (the last trading day of the previous quarter) as reported by the New York Stock Exchange.
+Added: shares issued to the directors based on a price of $123.93 per share, which was the closing price of the
+Added: Class C non-voting common stock on December 31, 2021 (the last trading day of the previous quarter) as
+Added: reported by the New York Stock Exchange.
+Added: In addition to the March 9, 2022 grants of stock appreciation rights ("SARs") and restricted stock units ("RSUs") to the four named executive officers and fifteen directors reported in Farmer Mac's Current Report on Form 8-K filed with the SEC on March 15, 2022, Farmer Mac made the following additional grants under its Amended and Restated 2008 Omnibus Incentive Plan on March 9, 2022 to other individuals as incentive compensation:
+Added: • an aggregate of 3,684 SARs to four executive officers, which have the same terms as the SARs granted to the named executive officers on March 9, 2022 – a grant price of $120.38 per share, an expiration date of March 9, 2032, and vesting in three equal annual installments on each of March 31, 2023, March 31, 2024, and March 31, 2025;
+Added: • an aggregate of 998 target number of performance-vested RSUs to four executive officers, which have the same terms as the performance-vested RSUs granted to the named executive officers on March 9, 2022 and are eligible for "cliff" vesting on March 31, 2025 in an amount between 0% and 200% of the target number of RSUs granted based on performance objectives related to cumulative core earnings before credit, subject to "gatekeeper" metrics related to compliance with regulatory capital requirements, for the performance period of January 1, 2022 to December 31, 2024;
+Added: • an aggregate of 1,998 time-vested RSUs to four executive officers vesting in three equal annual installments on March 31, 2023, March 31, 2024, and March 31, 2025;
+Added: • an aggregate of 14,023 time-vested RSUs to 56 employees, all of which will "cliff" vest on March 31, 2025.
(b) Not applicable.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.