Federal Agricultural Mortgage Corporation filed a Form 8-K on August 14, 2026, disclosing the appointment of Robert J. Maines as Executive Vice President and Chief Operations Officer, effective August 17, 2026, along with a separate announcement of a Chief Business Officer appointment.

Key Highlights

  • New COO appointed: Robert J. Maines was named Executive Vice President and Chief Operations Officer, effective August 17, 2026.
  • Salary set at $440,000: The Board approved an annual salary of $440,000 for Maines as of the effective date.
  • Long-term incentive target: Maines will be considered for equity-based, long-term incentive compensation in 2027 with a target value of not less than $225,000.
  • Internal promotion: Maines has served as Senior Vice President of Operations since March 2021 and joined Farmer Mac in December 2018 as Vice President and Enterprise Risk Officer.
  • Second executive appointment: Farmer Mac also announced the appointment of Nader Pasdar as Executive Vice President and Chief Business Officer, also starting August 17, 2026.
  • Severance plan eligibility: Maines will be eligible to participate in Farmer Mac's amended and restated executive severance plan.

Farmer Mac's Board Elevates Maines to Chief Operations Officer Role

According to the filing, Farmer Mac's Board of Directors appointed Robert J. Maines, age 58, to serve as Executive Vice President and Chief Operations Officer on August 12, 2026, with the role taking effect August 17, 2026. The filing states that Maines has over 30 years of experience in financial services across a variety of executive positions and holds a Bachelor of Science degree in Economics from the University of Delaware.

The filing discloses that in connection with the appointment, the Board approved an annual salary of $440,000 for Maines, effective August 17, 2026. Maines will be considered for equity-based, long-term incentive compensation grants in 2027 at the same time those grants are considered for Farmer Mac's other executive officers, with a target award value of not less than $225,000. The filing further states that Maines will be eligible to participate in Farmer Mac's amended and restated executive severance plan.

The filing notes that there are no arrangements or understandings between Maines and any other persons related to his appointment, no family relationships between Maines and any of Farmer Mac's directors or executive officers, and no transactions requiring disclosure under Item 404(a) of Regulation S-K. Separately, through a Regulation FD disclosure under Item 7.01, the filing references a press release dated August 13, 2026, announcing the appointment of Nader Pasdar as Executive Vice President and Chief Business Officer, also effective August 17, 2026. Farmer Mac's Class C non-voting common stock trades on the NYSE under the symbol AGM (NYSE:AGM).

What Was Disclosed

Farmer Mac disclosed two executive appointments effective August 17, 2026: Robert J. Maines as Executive Vice President and Chief Operations Officer, with a $440,000 annual salary and a long-term incentive target of not less than $225,000, and Nader Pasdar as Executive Vice President and Chief Business Officer.