Sara Faivre
About Sara L. Faivre
Independent director appointed by the U.S. President; age 60; board member since September 30, 2010. Chair of the Business Development & Business Strategy Committee and member of the Human Capital & Compensation Committee and the Public Policy & Corporate Social Responsibility Committee . Ph.D. in Genetics (Texas A&M) and B.S. in Agricultural Business & Animal Science (Iowa State); NACD Directorship Certified and named to NACD Directorship 100 in 2021 . Board has affirmatively determined she is independent under SEC/NYSE standards and Farmer Mac’s enhanced criteria .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| USDA; University of Iowa; University of Illinois; Texas A&M | Scientist on human and livestock genome projects | Not disclosed | Technical expertise in genetics, foundational for agtech oversight |
| Various early-stage agtech companies | Chief Science & Technology Officer; President; VP Business Development; Chief Scientific Officer | Not disclosed | Executive leadership across R&D and commercialization |
| Wild Type Ranch (Milam County, TX) | Co-owner/operator (grass-fed beef) | 2005–2025 | Agricultural operations experience |
| Wild Type Ranch LLC (Dane County, WI) | Founder (regenerative pastured protein farm) | 2025–present | Sustainable agriculture practices |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| True Algae (agtech) | Independent Director | Not disclosed | Board governance; agtech commercialization |
| One More Cloud (tech) | Independent Director | Not disclosed | Board governance; technology oversight |
| Harvest Returns (ag/agtech investment platform) | Advisory Board Member | Not disclosed | Investment platform advisory; deal flow insights |
| Women Corporate Directors – Austin | Co-Chair | Not disclosed | Governance network leadership |
| NACD – Austin Advisory Board; NACD Texas TriCities | Advisory Board / Board Member | Not disclosed | Director education; governance best practices |
Board Governance
| Item | Detail |
|---|---|
| Committee Assignments | Chair: Business Development & Business Strategy; Member: Human Capital & Compensation; Member: Public Policy & Corporate Social Responsibility |
| Independence | Determined independent in March 2025 under SEC/NYSE and Farmer Mac criteria |
| Attendance | Board held 9 meetings; each director attended ≥75% of Board and committee meetings served in 2024 |
| Committee Activity (2024) | Business Development & Strategy: 4 meetings; 100% attendance. Human Capital & Compensation: 5 meetings; 93% attendance. Public Policy & CSR: 4 meetings; 96% attendance |
| Governance Practices | Board Chair separate from CEO; annual director elections; code of conduct and anti-pledging/hedging policy |
Fixed Compensation
| Component | 2024 | 2025 | Notes |
|---|---|---|---|
| Annual Cash Retainer | $69,000 | $69,000 (maintained) | Base cash retainer per director |
| Committee Chair Fee (Business Dev & Strategy) | $6,000 | $10,000 | Increased for 2025 |
| Committee Member Fees | Not separately disclosed | Not separately disclosed | Board maintained incremental chair fees schedule; no specific meeting fees disclosed |
| Cash Received (Actual) | $75,000 (Fees Earned/Paid in Cash) | Not disclosed | 2024 director-level cash in compensation table |
Performance Compensation
| Grant Detail | 2024 | 2025 |
|---|---|---|
| RSU Grant Date & Quantity | March 5, 2024; 373 time-based RSUs | March 6, 2025; 376 time-based RSUs |
| Grant-Date Fair Value | $74,055 to each sitting director | $75,956 to each sitting director |
| Vesting | Vested March 31, 2025 (for 2024 grant) | Will vest March 31, 2026 if serving on vest date |
| Equity Form for Directors | Time-based RSUs; directors do not receive SARs or PSUs |
Company Pay-for-Performance (as overseen by Human Capital & Compensation Committee)
| Measure | Weight | Threshold (50%) | Target (100%) | Maximum (200%) | Result | Paid |
|---|---|---|---|---|---|---|
| Earnings | 25% | $173.3m | $184.5m | $197.3m | $180.9m | 20.96% |
| Total Revenues | 15% | $351.8m | $374.4m | $400.5m | $362.0m | 10.88% |
| Business Volume | 10% | $27.4b | $28.5b | $30.4b | $28.7b | 11.39% |
| Ratio of Substandard Assets to Regulatory Capital | 15% | <40% | <20% | <10% | 28.87% | 11.67% |
| Leadership & Strategic Performance | 35% | Committee evaluation | Committee evaluation | Committee evaluation | Strong qualitative performance | 35% |
| Total Incentive Earned | 100% | 89.90% of target per NEO |
Other Directorships & Interlocks
| Company | Type | Role | Overlap/Interlock Risk |
|---|---|---|---|
| True Algae | Private agtech | Independent Director | No related-person transactions requiring disclosure in 2024; Board independence affirmed |
| One More Cloud | Tech | Independent Director | Same as above |
| Harvest Returns | Ag/agtech platform | Advisory Board | Same as above |
Expertise & Qualifications
- Financial literacy; accounting/reporting experience; capital markets/lending knowledge recognized as core board attributes she brings .
- NACD certifications in Climate Governance, Digital Directorship, Sustainable Capitalism, Executive Women Leadership; NACD Directorship Certified; NACD Directorship 100 (2021) .
Equity Ownership
| Holder | Class C Shares | % of Class | Notes |
|---|---|---|---|
| Sara L. Faivre | 1,725 | <1% | Does not include unvested RSUs; Voting stock not held by individuals per charter |
| Stock Ownership Policy | Directors must hold ≥2× annual cash retainer | — | Anti-pledging/hedging policy for directors and employees |
Governance Assessment
- Independence and committee leadership: Independent director with chair role over Business Development & Strategy; serves on Compensation and Public Policy/CSR—positions aligned to her agtech and policy expertise .
- Attendance/engagement: Board met 9 times; every director met ≥75% attendance; her committees were active with high overall attendance rates (BD&BS 100%; HCC 93%; CSR 96%)—supportive of effective oversight cadence .
- Compensation alignment: Director pay balanced between fixed cash and time-based RSUs; chair fee increased for 2025, consistent with workload; directors may elect stock in lieu of cash, reinforcing alignment (policy detail, not specific to Faivre) .
- Pay-for-performance architecture: As a Compensation Committee member (2024), she oversaw a multi-metric scorecard and long-term equity mix for executives; Aon engaged as independent compensation consultant—reduces consultant conflicts risk .
- Conflicts/related-party exposure: Farmer Mac reviewed related-person transactions; none required disclosure as “related person transactions” in 2024; independence re-affirmed in 2025 .
- Policies: Strong clawback policy aligned with SEC/NYSE; anti-pledging/hedging; director ownership guidelines; say-on-pay support at 99% in 2024—positive shareholder signal .
RED FLAGS: None disclosed specific to Faivre. No pledging/hedging permitted; no material related-person transactions requiring disclosure; committee work and attendance support governance quality .