Sean Datcher
About Sean Datcher
Sean T. Datcher is Senior Vice President and Chief Information Officer at Federal Agricultural Mortgage Corporation (“Farmer Mac”), appointed in April 2023, with 30+ years in technology leadership across software architecture, development, networks, and databases; he is 58 and holds a B.S. in Business Management with technology leadership training at UVA Darden . Company performance context relevant to executive incentives: Farmer Mac delivered 17% ROE in 2024, book value per share of $97.85 at 12/31/2024, and a 7% YoY dividend increase, with compensation programs tied to multi-metric performance frameworks and safety-and-soundness gatekeepers .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Credit Corp (d/b/a Check Into Cash) | Chief Technology Officer | 2018–recent before joining Farmer Mac | Led enterprise technology; CTO role for consumer finance platform |
| Elevate Financial | SVP, Software Development & Architecture | 2017–2018 | Directed development and architecture for fintech lending; digital delivery |
| Travelers Insurance | eBusiness CIO | 2012–2017 | Led eBusiness technology; scaled digital customer platforms |
| Bank of America | SVP, Business Executive for eCommerce & Global Large Commercial Card Technology | 2007–2012 | Ran eCommerce and large commercial card technology; enterprise systems execution |
| Sabre Holdings / Travelocity | Sr. Director of Development | Pre-2007 | Led travel-tech development; online transaction platforms |
| Continental Airlines | Sr. Manager of Development | Pre-2007 | Managed airline tech development; operational systems |
External Roles
| Organization | Role | Years |
|---|---|---|
| Not disclosed in Farmer Mac filings | — | — |
No public company board or external committee roles are disclosed for Datcher in the proxy statement .
Fixed Compensation
- Datcher is not a Named Executive Officer (NEO) in Farmer Mac’s proxy and his base salary or cash bonuses are not individually disclosed .
Performance Compensation
Farmer Mac’s executive incentive design (applies to executive officers generally):
| Component | Mix/Weighting | Vesting Schedule | Performance Metrics | Target / Threshold / Max |
|---|---|---|---|---|
| Time-Based RSUs | 50% of LTIP | 1/3 annually; typical vest on March 31 each year if employed or qualifying retirement; acceleration on death/disability | Share price exposure | N/A (time-based) |
| Performance-Based RSUs | 25% of LTIP | Eligible to vest after 3-year period; committee confirms gatekeepers first | 3-year cumulative “Earnings before Credit” with gatekeepers on capital compliance, net charge-offs and 90-day delinquencies | Threshold: $376.8m earns 50%; Target: $457.3m earns 100%; Max: $520.0m earns 200% |
| Stock Appreciation Rights (SARs) | 25% of LTIP | 1/3 annually; 10-year term; typical March 31 vesting cycles; retirement/death/disability treatment per plan | Share price appreciation | Exercise price at grant; value equals FMV minus exercise price |
- Gatekeepers and payouts: For the 2022–2024 performance cycle, gatekeepers were satisfied and cumulative Earnings before Credit reached $478.5m, triggering 200% payout of the March 2022 performance RSUs on March 31, 2025 for applicable executives (illustrates plan calibration and alignment) .
- Annual performance frameworks for cash incentives emphasize core earnings, total revenues, business volume, asset quality, strategic objectives, and leadership, with clawback provisions .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Stock ownership guideline (SVP) | Minimum ownership equal to annual base salary (1× salary multiple) |
| Hedging/Pledging | Prohibited for all directors and employees under insider trading policy |
| Beneficial ownership | Datcher is included among “current executive officers” in group ownership disclosure; individual share count for Datcher is not listed in the proxy table |
| Equity award forms | Executive officers receive RSUs (time- and performance-based) and SARs under the shareholder-approved omnibus plan |
| Ownership as % of outstanding | Not disclosed for Datcher individually |
Employment Terms
| Term | Datcher-specific status | Company policy context |
|---|---|---|
| Employment agreement | No individual employment contract disclosed; Farmer Mac states only the CEO has a fixed-term employment agreement | |
| Severance | The Amended and Restated Executive Officer Severance Plan participants are CFO (Ramesh), CBO (Carpenter), and General Counsel (Mullery); Datcher is not listed among participants | |
| Change-in-control | Farmer Mac’s multi-class voting structure substantially precludes change-in-control; no CoC payments and no automatic vesting of equity awards upon CoC | |
| Clawback | SEC/NYSE-aligned clawback enabling recovery for accounting restatement, termination for cause, or incorrect metric calculations | |
| Insider trading windows | Rule 10b5-1 plans permitted; hedging/pledging barred |
Investment Implications
- Alignment: Strong pay-for-performance architecture with 50/25/25 LTIP mix, explicit gatekeepers for performance RSUs, and SARs expiring in 10 years ties executive wealth to long-term share price and core earnings quality; SVP ownership guidelines reinforce alignment, and hedging/pledging prohibitions reduce misalignment risk .
- Retention: Absence of a personal employment contract and not being named in the severance plan suggests fewer guaranteed protections than certain NEOs, but continued eligibility for LTIP and retirement vesting mechanics on RSUs/SARs mitigate near-term attrition risk for high-performing executives .
- Selling pressure: With standard vesting cycles and insider-trading policy constraints, near-term selling pressure depends on individual awards and windows; Datcher’s specific grant volumes and trading activity are not disclosed, limiting precise pressure assessment .
- Execution risk: Datcher’s large-enterprise CIO background across financial services and travel-tech platforms supports Farmer Mac’s cybersecurity and digital execution priorities, complementing the Board’s oversight via the Enterprise Risk Committee and cybersecurity subcommittee .