8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 20, 2022

FEDERAL AGRICULTURAL MORTGAGE CORPORATION

(Exact name of registrant as specified in its charter)

Registrant’s telephone number, including area code (202) 872-7700

No change

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

On May 20, 2022, the Federal Agricultural Mortgage Corporation (“Farmer Mac”) issued a press release to announce that the United States Senate has confirmed the appointment of Chester J. Culver to serve on Farmer Mac’s board of directors as one of five members appointed by the President of the United States. A copy of the press release is attached to this report as Exhibit 99. All references to www.farmermac.com in Exhibit 99 are inactive textual references only, and the information contained on Farmer Mac’s website is not incorporated by reference into this report. Farmer Mac plans to provide more information about its director compensation arrangement applicable to Mr. Culver, Mr. Culver’s committee assignments, and any interests required to be disclosed under Item 404(a) of Regulation S‑K in a future Current Report on Form 8-K.

The information furnished in this Item 7.01, including Exhibit 99, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor will any of such information or portion of the Exhibit be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.        Financial Statements and Exhibits.

(d)    Exhibits

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

FEDERAL AGRICULTURAL MORTGAGE CORPORATION

By: /s/ Stephen P. Mullery

Name: Stephen P. Mullery

Title: Executive Vice President – General Counsel

Dated: May 20, 2022

Document

Farmer Mac Announces the Honorable Chester J. Culver as New Presidentially Appointed Director

WASHINGTON, D.C., May 20, 2022 — The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation’s secondary market provider that increases the availability and affordability of credit for the benefit of rural America, announced today that former Iowa Governor Chester J. Culver, of West Des Moines, Iowa, was confirmed by the United States Senate to serve on the company’s board of directors on May 18, 2022. Mr. Culver was nominated for the position by President Biden. He replaces Myles J. Watts of Bozeman, Montana on Farmer Mac’s board. Mr. Culver rejoins the company’s board after serving as an appointee by President Obama from 2012 until 2019.

Mr. Culver served as the fortieth governor of Iowa from 2006 until 2010, and through his career, he has demonstrated a keen interest in and deep-seated knowledge of politics, agriculture, education, and advocacy. He began his career as an environmental and consumer advocate in the Iowa Attorney General’s Office and proceeded to teach government and history in Des Moines, Iowa. In 1998, he was elected Iowa’s Secretary of State, and went on to serve two terms in that role prior to being elected to serve as governor of Iowa. As governor, he served the National Governors Association as Chairman of both the Governors Wind Energy Coalition and the Governors Biofuels Coalition. He is a graduate of the Virginia Polytechnic Institute and State University and received a Master of Arts in teaching at Drake University.

Commenting on Mr. Culver’s appointment, Board Chair Lowell Junkins said, “Chet’s passion for and understanding of American agriculture was a valued part of his presence on Farmer Mac’s board for seven years, and will continue to serve him, and our company, well in the future. He has demonstrated a lifetime of interest in topics that are of vital interest to Farmer Mac, especially our latest efforts in rural infrastructure.” Chair Junkins continued, “We also offer our sincere gratitude to Myles for his significant contributions and dedication to Farmer Mac during his twelve years of service on the board.”

“It is an honor and a privilege to once again serve on Farmer Mac’s board,” said Mr. Culver. “The company has shown a newfound interest in the renewable energy sector and projects that can bring power and infrastructure to the rural communities that need it most. Rural communities are the backbone of America, and Farmer Mac plays an important role in nurturing and supporting its agricultural lenders and their farm and ranch borrowers. I look forward to working with the other board members in guiding the company in its vital mission of providing rural America with access to affordable credit.”

Mr. Culver joins four other board members appointed by the President of the United States with the advice and consent of the United States Senate. Ten additional board members are elected each year by stockholders—five by holders of Class A Voting Common Stock that may be owned only by financial institutions (NYSE: AGM.A), and five by holders of Class B voting common stock that may be owned only by Farm Credit System institutions (not listed on any exchange).

About Farmer Mac

Farmer Mac is a vital part of the agricultural credit markets and was created to increase access to and reduce the cost of credit for the benefit of American agricultural and rural communities. As the nation’s secondary market for agricultural credit, we provide financial solutions to a broad spectrum of the agricultural community, including agricultural lenders, agribusinesses, and other institutions that can benefit from access to flexible, low-cost financing and risk management tools. Farmer Mac’s customers benefit from our low cost of

funds, low overhead costs, and high operational efficiency. More information about Farmer Mac is available on Farmer Mac’s website at www.farmermac.com.

CONTACT:     Jalpa Nazareth, Investor Relations

Megan Murray-Pelaez, Media Inquiries

(202) 872-7700

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