NEW YORK (AFX) - The president and chief executive of Federal Agricultural Mortgage Corp., which provides agricultural real estate and rural housing mortgage loans and is also known as Farmer Mac, exercised options for 25,100 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.
In a Form 4 filed with the SEC, Henry D. Edelman reported he exercised the shares Tuesday and Wednesday for $15.13 apiece and then sold all of them Tuesday and Wednesday for $28.20 to $28.27 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, D.C.
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