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securities are exempt from registration under Section 3(a)(2) of the Securities Act of 1933.
+Added: During second
quarter 2024, the following transactions occurred related to Farmer Mac's equity securities that were not
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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 338 shares of its Class C non-voting common stock in January 2024 to the seven
+Added: issued an aggregate of 340 shares of its Class C non-voting common stock in April 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 $196.88 per share, which was the closing price of the
−Removed: Class C non-voting common stock on December 31, 2023 (the last trading day of the previous quarter) as
+Added: Class C non-voting common stock on March 31, 2024 (the last trading day of the previous quarter) as
reported by the New York Stock Exchange.
−Removed: In addition to the March 5, 2024 grants of stock appreciation rights ("SARs") and restricted stock units
−Removed: ("RSUs") to the five named executive officers and fifteen directors reported in Farmer Mac's Current
−Removed: Report on Form 8-K filed with the SEC on March 11, 2024, Farmer Mac made the following additional
−Removed: grants under its Amended and Restated 2008 Omnibus Incentive Plan on March 5, 2024 to other
−Removed: individuals as incentive compensation:
−Removed: • an aggregate of 2,418 SARs to four executive officers, which have the same terms as the SARs
−Removed: granted to the named executive officers on March 5, 2024 – a grant price of $198.54 per share, an
−Removed: expiration date of March 5, 2034, and vesting in three equal annual installments on each of
−Removed: March 31, 2025, March 31, 2026, and March 31, 2027;
−Removed: • an aggregate of 710 target number of performance-vested RSUs to four executive officers, which
−Removed: have the same terms as the performance-vested RSUs granted to the named executive officers on
−Removed: March 5, 2024 and are eligible for "cliff" vesting on March 31, 2027 in an amount between 0% and
−Removed: 200% of the target number of RSUs granted based on performance objectives related to cumulative
−Removed: 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;
−Removed: • an aggregate of 1,419 time-vested RSUs to four executive officers vesting in three equal annual
−Removed: installments on March 31, 2025, March 31, 2026, and March 31, 2027;
−Removed: • 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.