Robert Sexton
About Robert Sexton
Robert G. Sexton, 65, has served on Farmer Mac’s board since May 5, 2018; he is vice chair of the Audit Committee and a member of the Corporate Governance and Finance Committees, with a career operating citrus growing and packing businesses and extensive Farm Credit system board experience; he holds a BS and MBA from the University of Florida .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Farm Credit of South Florida | Director; Chair | Director: 1996–2010; Chair: 2003–2005 | Governance/oversight in regional Farm Credit institution |
| AgFirst Farm Credit Bank | Director; Chair | Director: 2000–2011; 2013–2016; Chair: 2007–2009 | Led board through risk and oversight periods at a Farm Credit bank |
| Indian River Citrus League | Director (prior service) | Not specified | Industry advocacy/governance in citrus sector |
| Florida Citrus Packers Association | Director (prior service) | Not specified | Industry coordination and standards |
| Highland Exchange Service Cooperative | Director (prior service) | Not specified | Cooperative governance experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Oslo Citrus Growers Association | President | Since 1983 | Longstanding leadership in grower association |
| Oslo Packing Company; Sexton Inc. | President | Since Aug 2019 | Closely-held commercial real estate companies |
| Sexton Grove Holdings, LLC; Sexton Citrus, LLC; Oslo, Inc.; Oslo Packing Company, Inc. | Operator | Since 1983 | Citrus growing and packing operations |
| Dairy Feed | Chair of Board | Since Jan 2024 | Chair role indicates governance leadership |
| Farm Credit of Florida | Director; Chair | Director since 2011; Chair 2015–2017 | Directorship at institution with transactions reviewed for independence |
Board Governance
- Committee assignments: Vice Chair, Audit; Member, Corporate Governance; Member, Finance .
- Independence: Board affirmatively determined in March 2025 that Sexton is independent; transactions with entities where he serves as director (e.g., Farm Credit institutions) were arms-length and not material under independence criteria .
- Attendance: The Board held nine meetings in 2024; every director attended at least 75% of Board and committee meetings; all directors attended the 2024 Annual Meeting .
- Executive sessions: Board Chair presides over regularly scheduled executive sessions without management; Board may designate another director to preside .
- Board structure signals: Separate CEO and Board Chair roles to enhance independent oversight .
Fixed Compensation
| Component | 2024 | 2025 |
|---|---|---|
| Fees earned or paid in cash ($) | $69,000 | Base annual cash retainer maintained at $69,000 |
| Committee chair fee ($) | — (not a committee chair) | — (not a committee chair) |
| Board Chair/Vice Chair incremental fees ($) | — (not Board Chair/Vice Chair) | — (not Board Chair/Vice Chair) |
| All Other Compensation ($) | $2,796 (cash in lieu of dividends on RSUs that vested in 2024) | Not disclosed |
| Voluntary share purchase from cash fees ($) | $24,655 (used to buy Class C shares in lieu of cash) | Not disclosed |
Performance Compensation
| Item | 2024 | 2025 |
|---|---|---|
| Annual director equity award (target value) | $69,000 target per director | $75,000 target per director |
| RSU grant details | Grant date: Mar 5, 2024; per-RSU fair value: $198.54; Sexton’s total stock awards: $74,055 | Grant date: Mar 6, 2025; 376 RSUs; grant-date value: $75,956; vest: Mar 31, 2026 if serving |
| Vesting schedule | Time-based; RSUs vest per policy (2024 grants vested Mar 31, 2024) | Time-based; cliff vest on Mar 31, 2026 if director is serving |
| Performance metrics tied to director compensation | None; director RSUs are time-based and not tied to performance metrics |
Other Directorships & Interlocks
| Entity | Relationship to Farmer Mac | Board’s Independence Review Outcome |
|---|---|---|
| Farm Credit of Florida | Participates in Farmer Mac programs; transactions include loan purchases, standby commitments, USDA-guaranteed portions, AgVantage securities | Arms-length terms; relationships not material; Sexton deemed independent |
| AgFirst Farm Credit Bank | Historical board service; Farm Credit counterparties may transact with Farmer Mac | Arms-length terms; relationships not material; Sexton deemed independent |
Expertise & Qualifications
- Agricultural operations executive with decades operating citrus businesses, plus leadership of related associations and cooperatives .
- Experienced Farm Credit system director and committee chair (risk, governance), enhancing audit and finance oversight capabilities .
- Education: BS and MBA, University of Florida, supporting financial and managerial acumen .
Equity Ownership
| Metric | Value |
|---|---|
| Class C Non-Voting Common Stock beneficially owned (#) | 13,141; less than 1% of class |
| Voting Common Stock ownership | None; directors cannot hold Voting Common Stock |
| Unvested RSUs outstanding | 376 RSUs granted Mar 6, 2025; scheduled to vest Mar 31, 2026 if serving |
| Stock ownership guidelines | Non-Employee Directors: 2x annual cash retainer; compliance required within 5 years |
| Compliance status disclosure | As of Jan 1, 2025, 13 of 15 directors exceeded guidelines; two directors elected in May 2024 have until May 2029 |
| Pledging/Hedging | Prohibited for all directors; no pledging allowed; specified hedging activities barred |
Governance Assessment
- Board effectiveness: Sexton’s committee roles (Audit VC; Corporate Governance; Finance) align with his risk and finance background, supporting strong oversight in Farmer Mac’s risk-sensitive business model .
- Independence and conflicts: Despite interlocks through Farm Credit institutions, the Board conducted a transaction review and determined relationships were arms-length and not material, affirming Sexton’s independence—mitigating conflict risk while maintaining sector expertise .
- Alignment and engagement: He attended at least 75% of meetings and the Annual Meeting in 2024 and voluntarily purchased $24,655 of Class C shares from cash fees, reinforcing ownership alignment under a policy requiring 2x retainer over five years and a strict anti-pledging stance .
- Compensation signals: Director pay remains balanced between cash ($69k) and equity (time-based RSUs; target lifted to $75k in 2025), with no performance-based metrics for directors, limiting incentive risk; incremental chair retainers do not apply to Sexton, avoiding pay inflation without additional chair responsibilities .