−Removed: Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
+Added: Unregistered Sales of Equity Securities and Use of Proceeds
(a) Farmer Mac is a federally chartered instrumentality of the United States whose debt and equity
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elect to receive shares of Class C non-voting common stock in lieu of their cash retainers, Farmer Mac
−Removed: issued an aggregate of 451 shares of its Class C non-voting common stock in July 2023 to the seven
+Added: issued an aggregate of 338 shares of its Class C non-voting common stock in January 2024 to the seven
directors who elected to receive stock in lieu of their cash retainers.
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shares issued to the directors based on a price of $191.22 per share, which was the closing price of the
−Removed: Class C non-voting common stock on June 30, 2023 (the last trading day of the previous quarter) as
+Added: Class C non-voting common stock on December 31, 2023 (the last trading day of the previous quarter) as
reported by the New York Stock Exchange.
−Removed: On September 29, 2023, Farmer Mac granted an aggregate of 2,979 time-vested restricted stock units of Farmer Mac’s Class C non-voting common stock ("RSUs") to 77 employees under Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan.
−Removed: Those RSUs will vest in three equal installments on March 31, 2024, March 31, 2025, and March 31, 2026 if those individuals are employed by Farmer Mac on those dates.
+Added: In addition to the March 5, 2024 grants of stock appreciation rights ("SARs") and restricted stock units
+Added: ("RSUs") to the five named executive officers and fifteen directors reported in Farmer Mac's Current
+Added: Report on Form 8-K filed with the SEC on March 11, 2024, Farmer Mac made the following additional
+Added: grants under its Amended and Restated 2008 Omnibus Incentive Plan on March 5, 2024 to other
+Added: individuals as incentive compensation:
+Added: • an aggregate of 2,418 SARs to four executive officers, which have the same terms as the SARs
+Added: granted to the named executive officers on March 5, 2024 – a grant price of $198.54 per share, an
+Added: expiration date of March 5, 2034, and vesting in three equal annual installments on each of
+Added: March 31, 2025, March 31, 2026, and March 31, 2027;
+Added: • an aggregate of 710 target number of performance-vested RSUs to four executive officers, which
+Added: have the same terms as the performance-vested RSUs granted to the named executive officers on
+Added: March 5, 2024 and are eligible for "cliff" vesting on March 31, 2027 in an amount between 0% and
+Added: 200% of the target number of RSUs granted based on performance objectives related to cumulative
+Added: core earnings before credit, subject to "gatekeeper" metrics related to capital and asset quality, for the performance period of January 1, 2024 to December 31, 2026;
+Added: • an aggregate of 1,419 time-vested RSUs to four executive officers vesting in three equal annual
+Added: installments on March 31, 2025, March 31, 2026, and March 31, 2027;
+Added: • an aggregate of 19,224 time-vested RSUs to 169 non-executive officer employees, vesting in three equal annual installments on March 31, 2025, March 31, 2026, and March 31, 2027.
(b) Not applicable.
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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.