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 30, 2003
Federal Agricultural Mortgage Corporation
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(Exact name of registrant as specified in its charter)
Federally chartered
instrumentality of
the United States 0-17440 52-1578738
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) 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)
Item 5. Other Events and Regulation FD Disclosure.
On May 30, 2003, the Registrant issued a press release announcing that
Henry D. Edelman, President and Chief Executive Officer, and Nancy E. Corsiglia,
Vice President and Chief Financial Officer, had each entered into a trading plan
in compliance with Securities and Exchange Commission Rule 10b5-1. A copy of the
press release is attached hereto as Exhibit 99 and is incorporated herein by
this reference.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99 Press release dated May 30, 2003.
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
By: /s/ Jerome G. Oslick
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Name: Jerome G. Oslick
Title: Vice President - General Counsel
Dated: May 30, 2003
FARMER MAC
NEWS
FOR IMMEDIATE RELEASE CONTACT
May 30, 2003 Jerome Oslick
202-872-7700
Farmer Mac Officers
Adopt 10b5-1 Trading Plans
Washington, D.C. -- The Federal Agricultural Mortgage Corporation (Farmer
Mac, NYSE: AGM and AGMA), reported today that Henry D. Edelman, President and
CEO, and Nancy E. Corsiglia, Vice President and CFO, each have adopted a
prearranged trading plan in accordance with Securities and Exchange Commission
Rule 10b5-1 and Farmer Mac's policy on securities trades by company personnel.
Farmer Mac is the stockholder-owned instrumentality of the United States
chartered by Congress to establish a secondary market for agricultural real
estate and rural housing mortgage loans.
Under Rule 10b5-1, directors and officers of a company may adopt a
prearranged plan or contract for the sale of the company's securities under
specified conditions and times if the person has no material non-public
information about the company. The plans adopted by Mr. Edelman and Ms.
Corsiglia relate to Farmer Mac Class C Non-Voting Common Stock (NYSE:AGM). They
were entered into primarily with respect to options to purchase shares of Class
C Stock that will expire by their terms on June 18, 2003 and for tax planning
purposes.
Each plan commences June 1, 2003 and directs Bear Stearns to exercise the
options not later than their expiration date of June 18, 2003 and to execute the
sale of a certain number of shares of Class C Stock with time, price and amount
discretion in the sale of the Class C Stock vested in Bear Stearns. Bear Stearns
is not authorized to sell any share of Class C Stock if the gross sales price
for such share is less than $21. Mr. Edelman's plan provides for the exercise of
options to purchase 60,000 shares and the sale of 85,000 shares and terminates
on June 1, 2004. Not more than 20,000 shares will be sold on any day under Mr.
Edelman's plan. Ms. Corsiglia's plan provides for the exercise of options to
purchase 30,000 shares and the sale of 41,000 shares and terminates on June 1,
2004. Not more than 10,000 shares will be sold on any day under Ms. Corsiglia's
plan. Except as may be required by law, Farmer Mac does not undertake to report
future plans adopted by Farmer Mac's officers or directors nor to report
modifications, terminations, transactions or other activities under such plans.
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