Business Context and Reporting Period
This Form 8-K is a current report filed by Federal Agricultural Mortgage Corporation (Farmer Mac) on August 12, 2026. The filing discloses executive leadership appointments and related compensatory arrangements effective August 17, 2026.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on corporate governance and personnel changes.
Material Changes
The filing reports the following material changes in executive leadership:
- Robert J. Maines was appointed Executive Vice President – Chief Operations Officer, effective August 17, 2026. He previously served as Senior Vice President – Operations since March 2021.
- Nader Pasdar was appointed Executive Vice President – Chief Business Officer, effective August 17, 2026 (announced via press release on August 13, 2026).
Compensation and Management Commentary
In connection with Mr. Maines' appointment, the Board approved the following compensation adjustments:
- Annual Salary: Increased to $440,000 effective August 17, 2026.
- Long-Term Incentives: Mr. Maines will be considered for equity-based grants in 2027 with a target value of not less than $225,000.
- Severance: Mr. Maines is eligible to participate in the company's amended and restated executive severance plan.
- Background: Mr. Maines has over 30 years of experience in financial services and joined Farmer Mac in December 2018.
The filing states there are no undisclosed family relationships or transactions requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective date of the new executive appointments (August 17, 2026).
- Confirm the specific salary increase and target equity award value for Robert J. Maines.
- Review the attached press release (Exhibit 99) for details regarding Nader Pasdar's appointment.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.