Brian M. Brinch - May 14, 2021 Form 4 Insider Report for FEDERAL AGRICULTURAL MORTGAGE CORP (AGM)

Role: SVP- Enterprise Risk Officer
Signature: Stephen P. Mullery, as attorney-in-fact for Brian M. Brinch
Stock symbol: AGM
Transactions as of: May 14, 2021
Transactions value $: -$435,213
Form type: 4
Date filed: 5/18/2021, 04:48 PM
Next filing: Mar 11, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AGM	Class C Non-Voting Common Stock	Options Exercise	$81K	+2.5K	+30.65%	$32.39^*	10.7K	May 14, 2021	Direct	F1, F2, F3
transaction	AGM	Class C Non-Voting Common Stock	Tax liability	-$85.5K	-829	-7.78%	$103.16	9.83K	May 14, 2021	Direct	F1, F3
transaction	AGM	Class C Non-Voting Common Stock	Disposed to Issuer	-$80.9K	-784	-7.98%	$103.16	9.04K	May 14, 2021	Direct	F1, F3
transaction	AGM	Class C Non-Voting Common Stock	Sale	-$91.9K	-887	-9.81%	$103.60	8.16K	May 18, 2021	Direct	F1, F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AGM	Stock Appreciation Right	Options Exercise	-$258K	-2.5K	-100%	$103.16	0	May 14, 2021	Class C Non-Voting Common Stock	2.5K	$32.39	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	In connection with the net share settlement of the exercise of 2,500 vested stock appreciation rights ("SARs") granted in April 2015 with a grant price of $32.39 per share, Mr. Brinch was entitled to receive 1,716 shares of Class C Non-Voting Common Stock of the Federal Agricultural Mortgage Corporation ("Farmer Mac"). Farmer Mac retained 829 shares to satisfy tax withholding requirements arising from the exercise, and 887 shares retained by Mr. Brinch were sold on May 18, 2021. The 784 shares reported as a disposition to the issuer of issuer equity securities represents the difference between the number of SARs exercised and the number of shares issuable as a result of the exercise. Each SAR represents the right to receive, upon exercise, the number of shares of Farmer Mac's Class C Non-Voting Common Stock equal to the excess of the fair market value of shares on the exercise date over the grant price.
F2	Transaction effected during an open trading window for employees and directors of Farmer Mac.
F3	Includes 2,538 unvested restricted stock units previously granted under Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan. The grants of restricted stock units have been described in detail in Farmer Mac's prior filings with the Securities and Exchange Commission.
F4	The price reported in Column 4 is a weighted average price. These shares of Class C Non-Voting Common Stock were sold in multiple transactions at prices ranging from $103.50 to $103.70, inclusive. The Reporting Person undertakes to provide to Farmer Mac, any security holder of Farmer Mac, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to Form 4.