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FEDERAL AGRICULTURAL MORTGAGE CORP Director's Dealing 2011

Apr 8, 2011

31785_dirs_2011-04-08_51cf447e-1d89-4be0-b7bd-5df3cca95dd9.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FEDERAL AGRICULTURAL MORTGAGE CORP (AGM)
CIK: 0000845877
Period of Report: 2011-04-07

Reporting Person: STENSON TOM D (Chief Operating Officer)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-04-07 Class C Non-Voting Common Stock A 5000 Acquired 35000 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2011-04-07 Stock Appreciation Right $18.77 A 20000 Acquired 2021-04-07 Class C Non-Voting Common Stock (20000) Direct

Footnotes

F1: Grant of shares of performance-based restricted stock under the Federal Agricultural Mortgage Corporation's 2008 Omnibus Incentive Plan for no consideration. The shares of restricted stock will vest on March 31, 2014 if the Corporation meets certain performance objectives related to business volume and portfolio charge-offs and delinquencies, as specified in the related award agreement.

F2: The stock appreciation right is exercisable beginning March 31, 2011 with respect to 6,666 shares, beginning March 31, 2012 with respect to 6,667 shares, and beginning March 31, 2013 with respect to 6,667 shares.

F3: Grant of stock appreciation rights under the Federal Agricultural Mortgage Corporation's 2008 Omnibus Incentive Plan for no consideration.