The chief financial officer of Federal Agricultural Mortgage Corp., commonly known as Farmer Mac, exercised options for 10,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC Wednesday, Nancy E. Corsiglia reported she exercised the options Monday for $19.86 apiece and then sold all 10,000 of them on the same day for $33.15 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.
Farmer Mac is based in Washington.
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