<SEC-DOCUMENT>0000845877-16-000337.txt : 20161114
<SEC-HEADER>0000845877-16-000337.hdr.sgml : 20161111
<ACCEPTANCE-DATETIME>20161114174502
ACCESSION NUMBER:		0000845877-16-000337
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20161109
FILED AS OF DATE:		20161114
DATE AS OF CHANGE:		20161114

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FEDERAL AGRICULTURAL MORTGAGE CORP
		CENTRAL INDEX KEY:			0000845877
		STANDARD INDUSTRIAL CLASSIFICATION:	FEDERAL & FEDERALLY-SPONSORED CREDIT AGENCIES [6111]
		IRS NUMBER:				521578738
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1999 K STREET NW,
		STREET 2:		4TH FLOOR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20006
		BUSINESS PHONE:		2028727700

	MAIL ADDRESS:	
		STREET 1:		1999 K STREET NW,
		STREET 2:		4TH FLOOR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20006

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BUZBY TIMOTHY L
		CENTRAL INDEX KEY:			0001250221

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14951
		FILM NUMBER:		161996613
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_147916347349172.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <periodOfReport>2016-11-09</periodOfReport>

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    <issuer>
        <issuerCik>0000845877</issuerCik>
        <issuerName>FEDERAL AGRICULTURAL MORTGAGE CORP</issuerName>
        <issuerTradingSymbol>AGM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001250221</rptOwnerCik>
            <rptOwnerName>BUZBY TIMOTHY L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FARMER MAC</rptOwnerStreet1>
            <rptOwnerStreet2>1999 K STREET NW, 4TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20006</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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            </securityTitle>
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                <transactionShares>
                    <value>28134</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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        <nonDerivativeTransaction>
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                <transactionFormType>4</transactionFormType>
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                    <footnoteId id="F3"/>
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                <transactionCode>S</transactionCode>
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                    <footnoteId id="F4"/>
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                <value>Class C Non-Voting Common Stock</value>
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            <transactionDate>
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            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
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                    <value>200</value>
                    <footnoteId id="F4"/>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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                    <footnoteId id="F2"/>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>29.33</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2016-11-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
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                    <value>28134</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>29.33</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-06-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Stock Option</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>28134.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Appreciation Right</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.2</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2016-11-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.20</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <value>2020-04-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class C Non-Voting Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This report reflects (on Table I) (a) the acquisition of 28,134 shares of the Federal Agricultural Mortgage Corporation's (&quot;Farmer Mac&quot;) Class C Non-Voting Common Stock through the exercise of a stock option acquired by the Reporting Person in June 2007 at a grant price of $29.33 pursuant to former Rule 16b-3; (b) the net share settlement of his exercise, which entitled Mr. Buzby to receive 28,134 shares, of which (i) 5,134 were retained by Farmer Mac to satisfy tax withholding requirements arising from the exercise, (ii) 17,372 were delivered to Farmer Mac to cover the exercise cost, and (iii) 5,628 were delivered to Mr. Buzby; (c) the sale of 5,628 shares; and (on Table II) (d) the exercise of the June 2007 employee stock option. The exercise of the June 2007 employee stock option is exempt under Section 16(b) under Rule 16b-6 but is reported herein pursuant to Rule 16a-4.</footnote>
        <footnote id="F2">Includes 34,814 shares of unvested restricted stock previously granted pursuant to Farmer Mac's 2008 Omnibus Incentive Plan.  The grants of restricted stock have been described in detail in Farmer Mac's prior filings with the Securities and Exchange Commission.</footnote>
        <footnote id="F3">Mr. Buzby received 5,830 shares of Farmer Mac's Class C Non-Voting Common Stock upon net share settlement of his partial exercise of 15,000 stock appreciation rights with a grant price of $12.20 per share.  That partial exercise entitled Mr. Buzby to receive 11,148 shares of the Corporation's Class C Non-Voting Common Stock, and 5,318 shares were retained by Farmer Mac to satisfy tax withholding requirements arising from the exercise.  Each stock appreciation right represents the right to receive, upon exercise, the number of shares of Farmer Mac's Class C Non-Voting Common Stock equal to the excess of the fair market value of shares on the exercise date over the grant price.</footnote>
        <footnote id="F4">Transaction effected pursuant to a trading plan adopted in accordance with Rule 10b5-1.</footnote>
        <footnote id="F5">The price reported in Column 4 is a weighted average price. These shares of Class C Non-Voting Common Stock were sold in multiple transactions at prices ranging from $46.93 to $47.87, inclusive. The Reporting Person undertakes to provide to Farmer Mac, any security holder of Farmer Mac, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to Form 4.</footnote>
        <footnote id="F6">Exercisable beginning May 31, 2008 with respect to 9,378 shares, beginning May 31, 2009 with respect to 9,378 shares, and beginning May 31, 2010 with respect to 9,378 shares.</footnote>
        <footnote id="F7">Exercisable beginning March 31, 2011, with respect to 15,000 shares, beginning March 31, 2012, with respect to 15,000 shares, and beginning March 31, 2013, with respect to 15,000 shares.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Anjali Desai, as attorney-in-fact for Timothy L. Buzby</signatureName>
        <signatureDate>2016-11-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
