James Gilligan - Mar 4, 2024 Form 4 Insider Report for Farmland Partners Inc. (FPI)

Role: Chief Financial Officer
Signature: /s/ Justin R. Salon, as attorney-in-fact for James Gilligan
Stock symbol: FPI
Transactions as of: Mar 4, 2024
Transactions value $: $0
Form type: 4
Date filed: 3/6/2024, 08:22 PM
Previous filing: Feb 28, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FPI	Common Stock	Award	$0	+19.4K	+38.28%	$0.00	70.1K	Mar 4, 2024	Direct	F1

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	FPI	Performance Stock Units	Award	$0	+2.77K		$0.00	2.77K	Mar 4, 2024	Common Stock	2.77K		Direct	F2
transaction	FPI	Performance Stock Units	Award	$0	+2.77K		$0.00	2.77K	Mar 4, 2024	Common Stock	2.77K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	As part of Mr. Gilligan's bonus compensation for the year ended December 31, 2023, he received a grant of 19,392 restricted shares of common stock pursuant to the Farmland Partners Inc. Third Amended and Restated 2014 Equity Incentive Plan, which shares will vest ratably on each of the first three anniversaries of the date of the grant.
F2	Represents Performance Stock Units ("PSUs") granted to the reporting person pursuant to the Third Amended and Restated 2014 Equity Incentive Plan. Each PSU represents a contingent right to receive one share of common stock. The PSUs will be eligible to be earned by the reporting person based on the achievement by Farmland Partners Inc. with respect to an absolute total shareholder return ("TSR") performance goal over a three-year performance period beginning on December 31, 2023. The number of PSUs indicated reflects the "target" number of PSUs granted to the reporting person and the number of PSUs earned could range from 0% to 150% of such target number.
F3	Represents PSUs granted to the reporting person pursuant to the Third Amended and Restated 2014 Equity Incentive Plan. Each PSU represents a contingent right to receive one share of common stock. The PSUs will be eligible to be earned by the reporting person based upon Farmland Partners Inc.'s relative TSR compared to the TSR of the companies in the MSCI US REIT Net Total Return Index over a three year performance period beginning on December 31, 2023. The number of PSUs indicated reflects the "target" number of PSUs granted to the reporting person and the number of PSUs earned could range from 0% to 150% of such target number.