The president of Federal Agricultural Mortgage Corp., which writes mortgage loans for agricultural real estate and rural housing, exercised options for 60,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Tuesday.
In a Form 4 filed with the SEC, Henry D. Edelman reported exercising the options on Friday and Monday for $19.86 to $20.61 apiece and then selling the same number of shares on the same days for $33.15 to $33.40 apiece.
The stock sale was conducted under a prearranged 10b5-1 trading plan, which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Federal Agricultural Mortgage is based in Washington.
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