Federal Agricultural Mortgage (AGM) Proxy filing summary

Executive summary

• Annual meeting scheduled for May 14, 2026, with both in-person and virtual attendance options.

• Mission centers on increasing financing accessibility for American agriculture and rural infrastructure, with a record 16% return on equity in 2025 and a 7% year-over-year dividend increase.

• Diverse customer base includes banks, credit unions, agribusinesses, and rural utilities, with $33.4 billion in outstanding business volume as of year-end 2025.

• Philanthropic efforts supported over two dozen organizations in 2025, focusing on food security, financial literacy, and tribal agriculture education.

Voting matters and shareholder proposals

• Shareholders will vote on three main proposals: election of ten directors, ratification of PricewaterhouseCoopers LLP as independent auditor for 2026, and an advisory vote on executive compensation.

• Cumulative voting is permitted for director elections, with Class A and Class B stockholders electing five directors each; five additional directors are presidential appointees.

• Shareholder proposals for the 2027 meeting must be submitted between January 14 and February 13, 2027.

Board of directors and corporate governance

• Board consists of 15 members: five elected by Class A, five by Class B, and five appointed by the U.S. President.

• Eight standing committees oversee key areas, including audit, risk, governance, compensation, and social responsibility.

• All directors are considered independent under SEC and NYSE standards; annual self-evaluations and limited outside directorships are required.

• Board skills include expertise in agriculture, finance, risk management, human capital, cybersecurity, and public policy.

• Annual director compensation for 2026 set at $150,000, with increases in cash retainers and equity awards.