1 unchanged sentence
(a) Farmer Mac is a federally chartered instrumentality of the United States whose debt and equity securities are exempt from registration under Section 3(a)(2) of the Securities Act of 1933.
−Removed: During second quarter 2025, the following transactions occurred related to Farmer Mac's equity securities that were not registered under the Securities Act of 1933 and were not otherwise reported on a Current Report on Form 8-K:
+Added: During third quarter 2025, the following transactions occurred related to Farmer Mac's equity securities that were not registered under the Securities Act of 1933 and were not otherwise reported on a Current Report on Form 8-K:
Class C Non-Voting Common Stock .
−Removed: Under Farmer Mac's policy that permits directors of Farmer Mac to elect to receive shares of Class C non-voting common stock in lieu of their cash retainers, Farmer Mac issued an aggregate of 432 shares of its Class C non-voting common stock in April 2025 to the eight directors who elected to receive stock in lieu of their cash retainers.
−Removed: Farmer Mac calculated the number of shares issued to the directors based on a price of $187.51 per share, which was the closing price of the Class C non-voting common stock on March 31, 2025 (the last trading day of the previous quarter) as reported by the New York Stock Exchange.
+Added: Under Farmer Mac's policy that permits directors of Farmer Mac to elect to receive shares of Class C non-voting common stock in lieu of their cash retainers, Farmer Mac issued an aggregate of 338 shares of its Class C non-voting common stock in July 2025 to the eight directors who elected to receive stock in lieu of their cash retainers.
+Added: Farmer Mac calculated the number of shares issued to the directors based on a price of $194.28 per share, which was the closing price of the Class C non-voting common stock on June 30, 2025 (the last trading day of the previous quarter) as reported by the New York Stock Exchange.
+Added: On August 21, 2025, Farmer Mac granted 1,137 time-vested restricted stock units related to shares of Farmer Mac's Class C non-voting common stock to an employee in accordance with the Transition Agreement described in Farmer Mac's Current Report on Form 8-K filed with the SEC on August 18, 2025.
+Added: That grant of the “Transition RSUs” described in the Transition Agreement is scheduled to vest on May 2, 2026, subject to the conditions in the Transition Agreement.
(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.