Attached files
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EX-99.1 - FEDERAL AGRICULTURAL MORTGAGE CORP | v210075_ex99-1.htm |
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
FEDERAL
AGRICULTURAL MORTGAGE CORPORATION
(Exact
Name of Registrant as Specified in Charter)
Federally
chartered instrumentality
of
the United States
|
001-14951
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52-1578738
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||
(State
or Other Jurisdiction
of
Incorporation)
|
(Commission
File
Number)
|
(IRS
Employer Identification No.)
|
||
1133
Twenty-First Street, N.W., Suite 600, Washington D.C.
|
20036
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|||
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
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):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item
5.02.
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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(e)
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On
February 3, 2011 the board of directors of the Federal Agricultural
Mortgage Corporation (“Farmer Mac”) took the following actions with
respect to management compensation:
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·
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The
base salary of Michael A. Gerber, President and Chief Executive Officer,
was increased from $550,000 per year to $567,000 per year effective
January 1, 2011.
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|
·
|
The
base salary of Tom D. Stenson, Executive Vice President and Chief
Operating Officer, was increased from $384,402 per year to $396,000 per
year effective January 1, 2011.
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|
·
|
The
base salary of Timothy L. Buzby, Senior Vice President – Chief Financial
Officer, was increased from $340,000 per year to $351,000 per year
effective January 1, 2011.
|
|
·
|
The
base salary of Jerome G. Oslick, Senior Vice President – General Counsel,
was increased from $295,619 per year to $305,000 per year effective
January 1, 2011.
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Item
8.01.
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Other
Events.
|
On
February 3, 2011, the board of directors of Farmer Mac declared a quarterly
dividend on each of Farmer Mac’s three classes of common stock – Class A Voting
Common Stock, Class B Voting Common Stock, and Class C Non-Voting Common
Stock. The quarterly dividend of $0.05 per share of common stock will
be payable on March 31, 2011 to holders of record of common stock as of
March 15, 2011.
Also on
February 3, 2011, the board of directors of Farmer Mac declared a quarterly
dividend on Farmer Mac’s Series C Preferred Stock. The quarterly
dividend of $12.50 per share of Series C Preferred Stock is for the period
from January 1, 2011 through March 31, 2011 and will be payable on March
31, 2011 to holders of record of preferred stock as of March 15,
2011. Each share of Series C Preferred Stock has a par value and
liquidation preference of $1,000.00 per share.
Information
about the dividends is also included in the press release attached to this
report as Exhibit 99.
Item
9.01. Financial Statements and Exhibits.
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(a)
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Not
applicable.
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(b)
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Not
applicable.
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(c)
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Not
applicable.
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(d)
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Exhibits:
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99.
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Press
release dated February 4, 2011 regarding the declaration of dividends on
common and preferred stock.
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2
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 hereunto duly
authorized.
FEDERAL
AGRICULTURAL MORTGAGE
CORPORATION
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||||
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By:
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/s/ Jerome G. Oslick | ||
Name: | Jerome G. Oslick | |||
Title: | Senior Vice President – General Counsel | |||
Dated:
February 4, 2011
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