Farmer Mac CEO Nordholm to retire by March 2027; Carpenter named President/COO and successor CEO

FEDERAL AGRICULTURAL MORTGAGE CORP

Bradford T. Nordholm to retire as CEO on March 31, 2027; resigned as President effective Sept 25, 2025.
Zachary N. Carpenter appointed President and COO, effective Sept 25, 2025; to become CEO on April 1, 2027 or earlier.
Nordholm's employment agreement extended to March 31, 2027; fixed 2027 incentive salary of $200,000; $1.5M RSU grant in March 2026.
Carpenter's base salary raised to $575,000 as President/COO; future CEO base salary at least $650,000 with 80% target bonus.
Carpenter's CEO Employment Agreement includes two-year non-compete, severance equal to base salary plus bonus, and COBRA continuation.

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