Aparna Ramesh - Nov 14, 2023 Form 4 Insider Report for FEDERAL AGRICULTURAL MORTGAGE CORP (AGM)

Role: EVP - Chief Financial Officer
Signature: Stephen P. Mullery, as attorney-in-fact for Aparna Ramesh
Stock symbol: AGM
Transactions as of: Nov 14, 2023
Transactions value $: -$100,887
Form type: 4
Date filed: 11/15/2023, 04:33 PM
Previous filing: Jun 12, 2023
Next filing: Mar 7, 2024

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	$240K	+2.7K	+29.3%	$88.68	11.9K	Nov 14, 2023	Direct	F1, F2, F3
transaction	AGM	Class C Non-Voting Common Stock	Tax liability	-$101K	-608	-5.1%	$165.78	11.3K	Nov 14, 2023	Direct	F1, F2, F3
transaction	AGM	Class C Non-Voting Common Stock	Disposed to Issuer	-$240K	-1.45K	-12.78%	$165.78	9.88K	Nov 14, 2023	Direct	F1, F2, F3

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	$0	-2.7K	-66.67%	$0.00	1.35K	Nov 14, 2023	Class C Non-Voting Common Stock	2.7K	$88.68	Direct	F1, F2, F4

* 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 2,704 vested stock appreciation rights ("SARs") granted in March 2021 with the grant price of $88.68 per share, Ms. Ramesh was entitled to receive 1,257 shares of the Federal Agricultural Mortgage Corporation's ("Farmer Mac") Class C Non-Voting Common Stock. None of these shares were sold, as Ms. Ramesh retained 649 shares, and Farmer Mac retained 608 shares to satisfy tax withholding requirements arising from the exercise. The 1,447 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 5,515 unvested restricted stock units previously granted pursuant to Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan, as described in more detail in the Reporting Person's prior filings under Section 16 of the Securities Exchange Act of 1934.
F4	Exercisable beginning March 31, 2022 with respect to 1,352 shares, beginning March 31, 2023 with respect to 1,352 shares, and beginning March 31, 2024 with respect to 1,352 shares.