other material
confidence high
sentiment neutral
materiality 0.55
Farmer Mac approves base salary increases, equity grants, and performance awards for officers and directors
FEDERAL AGRICULTURAL MORTGAGE CORP
- CEO Nordholm salary unchanged; COO Carpenter salary raised from $575K to $650K, CCO Crady to $435K.
- SARs granted: Carpenter 2,778, Pullins 2,631, Crady 1,227 at $162.15/share, vesting over 3 years.
- Time-based RSUs awarded to Nordholm (8,835), Carpenter (699), Pullins (662), Crady (618) and 14 directors (471 each).
- Performance-based RSUs: Carpenter 699 target, Pullins 662, Crady 309; vesting based on 3-yr 'Earnings before Credit' target $736.2M.
- CEO Nordholm's 2023 special grant vests at 164% (24,600 shares); 2023 performance RSUs vest at 200% for all recipients.