SEC Form DEF 14A filed by Farmland Partners Inc.

3/17/26 4:37:32 PM ET

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐

Preliminary Proxy Statement

☐

Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☒

Definitive Proxy Statement

☐

Definitive Additional Materials

☐

Soliciting Material under §240.14a-12

FARMLAND PARTNERS INC.

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

☒

No fee required.

☐

Fee paid previously with preliminary materials.

☐

Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11.

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[MISSING IMAGE: lg_farmlandpartners-4c.jpg]

March 17, 2026

Dear Fellow Stockholders:

You are cordially invited to attend the 2026 Annual Meeting of Stockholders (the “Annual Meeting”) of Farmland Partners Inc., which will be held at 4600 S. Syracuse Street, Suite 1450, Denver, CO 80237, on April 28, 2026, at 9:00 a.m. Mountain Time.

The matters expected to be acted upon at the meeting are described in detail in the accompanying Notice of Annual Meeting of Stockholders and Proxy Statement.

In accordance with U.S. Securities and Exchange Commission rules, we are using the Internet as our primary means of furnishing proxy materials to our stockholders. Because we are using the Internet, most stockholders will not receive paper copies of our proxy materials. We will instead send our stockholders a notice with instructions for accessing the proxy materials and voting via the Internet. This notice also provides information on how our stockholders may obtain paper copies of our proxy materials if they so choose. We believe the use of the Internet makes the proxy distribution process more efficient and less costly, and helps in conserving natural resources.

The Proxy Statement, the accompanying form of proxy card, the Notice of Annual Meeting of Stockholders and the Annual Report to Stockholders/Annual Report on Form 10-K for the fiscal year ended December 31, 2025 are available at http://www.proxyvote.com and may also be accessed through our website at www.farmlandpartners.com under the “SEC Filings” section. If you would like to receive a paper or e-mail copy of these documents, you must request one. There is no charge to you for requesting a copy.

Your vote is important. Please cast your vote as soon as possible over the Internet, by telephone, or by completing and returning the proxy card to ensure that your shares are represented. Your vote by written proxy will ensure your representation at the Annual Meeting regardless of whether or not you attend in person. Returning the proxy does not deprive you of your right to attend the Annual Meeting and to vote your shares in person.

On behalf of our Board of Directors and our employees, we thank you for your continued interest in and support of our company. We look forward to seeing you on April 28, 2026.

Sincerely,


	Paul A. Pittman			Luca Fabbri
	Executive Chairman			President and Chief Executive Officer

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FARMLAND PARTNERS INC.

4600 S. Syracuse Street, Suite 1450
Denver, Colorado 80237

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

To Be Held on April 28, 2026

NOTICE IS HEREBY GIVEN that the 2026 Annual Meeting of Stockholders (the “Annual Meeting”) of Farmland Partners Inc. (the “Company”) will be held at 4600 S. Syracuse Street, Suite 1450, Denver, CO, 80237, on April 28, 2026, at 9:00 a.m. Mountain Time for the following purposes:

(1)

to elect the five director nominees named in the Proxy Statement;

(2)

to ratify the appointment of Crowe LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2026;

(3)

to approve, in an advisory (non-binding) vote, the compensation of our named executive officers;

(4)

to approve, in an advisory (non-binding) vote, whether future stockholder votes to approve the compensation of our named executive officers should occur every one, two or three years; and

(5)

to transact such other business as may properly come before the Annual Meeting or any adjournment(s) or postponement(s) of the Annual Meeting.

The Proxy Statement accompanying this notice describes each of these items of business in detail. The Board of Directors has fixed the close of business on March 3, 2026 as the record date for the determination of stockholders entitled to notice of and to vote at the Annual Meeting and any adjournments or postponements of the Annual Meeting. Accordingly, only stockholders of record at the close of business on March 3, 2026 are entitled to notice of, and to vote at, the Annual Meeting and any adjournments or postponements of the Annual Meeting.

Your vote is important. Whether or not you expect to attend the meeting, please vote via the Internet, by telephone, or complete, date, sign and promptly return the proxy card so that your shares may be represented at the meeting.

				By Order of the Board of Directors,

				Christine M. Garrison General Counsel and Secretary
	Denver, Colorado March 17, 2026

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE
ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON APRIL 28, 2026.

This Notice of Annual Meeting of Stockholders, the Proxy Statement, accompanying form of proxy card and our Annual Report to Stockholders/Annual Report on Form 10-K for the fiscal year ended December 31, 2025 are available at www.proxyvote.com.

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	ABOUT THE MEETING					1
	PROPOSAL 1: ELECTION OF DIRECTORS					6
	PROPOSAL 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM					9
	CORPORATE GOVERNANCE AND BOARD MATTERS					11
	Other Governance Enhancements					11
	Role of the Board in Risk Oversight					11
	Board Committees					12
	Director Selection Process					14
	Code of Business Conduct and Ethics					14
	Availability of Corporate Governance Materials					16
	Independence of Directors					17
	Board Leadership Structure					17
	Annual Meeting Attendance					18
	Executive Sessions of Non-Management Directors					18
	Communications with the Board					18
	Director Compensation					18
	EXECUTIVE OFFICERS					20
	COMPENSATION OF NAMED EXECUTIVE OFFICERS					20
	Compensation					21
	Outstanding Equity Awards at Fiscal Year-End December 31, 2025					22
	Pay versus Performance					23
	Employment Agreements					24
	EQUITY COMPENSATION PLAN INFORMATION					27
	REPORT OF THE AUDIT COMMITTEE					27
	PRINCIPAL STOCKHOLDERS					28
	CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS					29
	Related Party Transaction Policy					29
	Indemnification of Officers and Directors					29
	PROPOSAL 3: ADVISORY VOTE ON EXECUTIVE COMPENSATION					30
	PROPOSAL 4: ADVISORY VOTE ON FREQUENCY OF HOLDING FUTURE ADVISORY VOTES ON EXECUTIVE COMPENSATION					31
	OTHER MATTERS					32
	Other Matters to Come Before the 2026 Annual Meeting					32
	Stockholders Proposals and Nominations for the 2027 Annual Meeting					32
	Householding of Proxy Materials					32

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FARMLAND PARTNERS INC.
4600 S. Syracuse Street, Suite 1450
Denver, Colorado 80237

PROXY STATEMENT

ABOUT THE MEETING

Why am I receiving this Proxy Statement?

This Proxy Statement contains information related to the solicitation of proxies for use at our 2026 Annual Meeting of Stockholders (the “Annual Meeting”), to be held at 4600 S. Syracuse Street, Suite 1450, Denver, CO 80237, at 9:00 a.m. Mountain Time, for the purposes stated in the accompanying Notice of Annual Meeting of Stockholders. This solicitation is made by Farmland Partners Inc. on behalf of our Board of Directors (also referred to as the “Board” in this Proxy Statement). In this Proxy Statement, the terms “we,” “our,” “us” and the “Company” refer to Farmland Partners Inc.

We have elected to provide access to our proxy materials over the Internet. Accordingly, we are sending to our stockholders of record as of the close of business on March 3, 2026, a Notice of Internet Availability of Proxy Materials (the “Notice”) relating to the Annual Meeting. All stockholders of record will have the ability to access the proxy materials on the website referred to in the Notice or to request to receive a printed set of the proxy materials. Instructions on how to request a printed copy by mail or electronically may be found on the Notice and on the website referenced in the Notice, including an option to request paper copies on an ongoing basis. On or about March 17, 2026, we intend to make this Proxy Statement and accompanying form of proxy card available on the Internet and to mail the Notice to all stockholders entitled to vote at the Annual Meeting. We intend to mail this Proxy Statement, together with a proxy card, to those stockholders entitled to vote at the Annual Meeting who have properly requested paper copies of such materials, within three business days of such request.

The Notice, this Proxy Statement, accompanying form of proxy card and our Annual Report to Stockholders/Annual Report on Form 10-K for the fiscal year ended December 31, 2025 are available at http://www.proxyvote.com. You are encouraged to access and review all of the important information contained in the proxy materials before voting.

What am I being asked to vote on?

You are being asked to vote on the following proposals:

•

Proposal 1 (Election of Directors): The election of the five director nominees named in this Proxy Statement, each for a term expiring at the 2027 annual meeting of stockholders (the “2027 Annual Meeting”);

•

Proposal 2 (Ratification of Crowe): The ratification of Crowe LLP (“Crowe”) as our independent registered public accounting firm for our fiscal year ending December 31, 2026;

•

Proposal 3 (Advisory Vote on Executive Compensation): The approval (on an advisory basis) of the compensation of our named executive officers;

•

Proposal 4 (Advisory Vote on Frequency of Future Advisory Votes on Executive Compensation): The determination (on an advisory basis) of whether future stockholder votes to approve the compensation of our named executive officers should occur every one, two or three years; and

•

To transact any other business that may properly come before the Annual Meeting or any adjournment(s) or postponements of the Annual Meeting.

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What are the Board’s voting recommendations?

The Board recommends that you vote as follows:

•

Proposal 1 (Election of Directors): “FOR” each of the Board nominees for election as directors.

•

Proposal 2 (Ratification of Crowe): “FOR” the ratification of Crowe as our independent registered public accounting firm for our fiscal year ending December 31, 2026.

•

Proposal 3 (Advisory Vote on Executive Compensation): “FOR” the approval of the compensation of our named executive officers.

•

Proposal 4 (Advisory Vote on Frequency of Future Advisory Votes on Executive Compensation): “ONE YEAR” as the preferred frequency of holding future stockholder advisory votes on executive compensation.

Who is entitled to vote at the Annual Meeting?

Only holders of record of our common stock, par value $0.01 per share (our “Common Stock”), at the close of business on March 3, 2026, the record date for the Annual Meeting (the “Record Date”), are entitled to receive notice of the Annual Meeting and to vote at the Annual Meeting. Our Common Stock constitutes the only class of securities entitled to vote at the Annual Meeting.

What are the voting rights of stockholders?

Each share of our Common Stock outstanding on the Record Date entitles its holder to cast one vote on each matter to be voted on.

No dissenters’ rights are provided under the Maryland General Corporation Law, our charter or our bylaws with respect to any of the proposals described in this Proxy Statement.

Who can attend the Annual Meeting?

All holders of our Common Stock at the close of business on the Record Date (March 3, 2026), or their duly appointed proxies, are authorized to attend the Annual Meeting. Admission to the meeting will be on a first-come, first-served basis. If you attend the Annual Meeting, you may be asked to present valid photo identification, such as a driver’s license or passport, before being admitted. Cameras, recording devices and other electronic devices will not be permitted at the meeting. For directions to the Annual Meeting, contact our General Counsel and Secretary at (720) 452-3100.

Please also note that if you are the beneficial owner of shares held in “street name” (that is, through a bank, broker or other nominee), you will need to bring a copy of the brokerage statement reflecting your share ownership as of the Record Date.

What is the difference between holding shares as a stockholder of record and as a beneficial owner?

Many stockholders hold their shares through a stockbroker, bank or other nominee rather than directly in their own name. As summarized below, there are some distinctions between shares held of record and those owned beneficially.

•

Stockholder of record. If your shares are registered directly in your name with our transfer agent, Equiniti Shareowner Services, you are considered the stockholder of record of those shares and the Notice is being sent directly to you by us.

•

Beneficial owner of shares held in street name. If your shares are held in a stock brokerage account or by a bank or other nominee, you are considered the “beneficial owner” of shares held in “street name,” and the Notice is being forwarded to you by your broker or nominee, which is considered, with respect to those shares, the stockholder of record. As the beneficial owner, you have the right to direct your broker how to vote your shares and are also invited to attend the Annual Meeting. However, because you are not the stockholder of record, you may not vote these shares in person at the Annual Meeting unless you bring with you a legal proxy from the organization that holds your shares.

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What will constitute a quorum at the Annual Meeting?

The presence at the meeting, in person or by proxy, of the holders of a majority of our Common Stock outstanding on the Record Date (March 3, 2026) will constitute a quorum, permitting our stockholders to conduct business at the Annual Meeting. We will include abstentions and broker non-votes in the calculation of the number of shares considered to be present at the meeting for purposes of determining the presence of a quorum at the meeting. As of the Record Date, there were 43,629,350 shares of our Common Stock outstanding.

If a quorum is not present to transact business at the Annual Meeting or if we do not receive sufficient votes in favor of the proposals by the date of the Annual Meeting, the persons named as proxies may propose one or more adjournments of the Annual Meeting to permit solicitation of additional proxies. The chairperson of the Annual Meeting shall have the power to adjourn the Annual Meeting.

What are broker non-votes?

Broker non-votes occur when nominees, such as banks and brokers holding shares on behalf of beneficial owners, do not receive voting instructions from the beneficial owners at least ten days before the Annual Meeting. If that happens, the nominees may vote those shares only on matters deemed “routine” by the New York Stock Exchange (the “NYSE”), the exchange on which shares of our Common Stock are listed. On non-routine matters, nominees cannot vote without instructions from the beneficial owner, resulting in a so-called “broker non-vote.”

Proposal 2 (ratification of Crowe) is the only proposal that is considered “routine” under the NYSE rules. If you are a beneficial owner and your shares are held in the name of a broker or other nominee, the broker or other nominee is permitted to vote your shares on the ratification of the appointment of Crowe as our independent registered public accounting firm for our fiscal year ending December 31, 2026, even if the broker or other nominee does not receive voting instructions from you.

Under NYSE rules, Proposal 1 (Election of Directors), Proposal 3 (Advisory Vote on Executive Compensation) and Proposal 4 (Advisory Vote on Frequency of Future Advisory Votes on Executive Compensation) are considered “non-routine” proposals. Consequently, if you do not give your broker or other nominee voting instructions, your broker or other nominee will not be able to vote on these proposals, and broker non-votes may exist with respect to the election of directors, the advisory vote on executive compensation and the advisory vote on the frequency of future advisory votes on executive compensation.

How many votes are needed for the proposals to pass?

The proposals to be voted on at the Annual Meeting have the following voting requirements:

•

Proposal 1 (Election of Directors): Directors are elected by plurality vote. There is no cumulative voting in the election of directors. Therefore, the five director nominees receiving the highest number of “FOR” votes will be elected. For purposes of the election of directors, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the result of the vote, although they will be considered present for the purpose of determining the presence of a quorum.

•

Proposal 2 (Ratification of Crowe): The affirmative vote of a majority of the votes cast once a quorum has been established is required to ratify the appointment of Crowe as our independent registered public accounting firm for our fiscal year ending December 31, 2026. For purposes of the vote on the ratification of Crowe as our independent registered public accounting firm, abstentions will not be counted as votes cast and will have no effect on the result of the vote, although they will be considered present for the purpose of determining the presence of a quorum.

•

Proposal 3 (Advisory Vote on Executive Compensation): The affirmative vote of a majority of the votes cast at a meeting at which a quorum is present is required to approve, on an advisory basis, the compensation of our named executive officers as disclosed in this Proxy Statement. For purposes of the advisory vote on executive compensation, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the result of the vote, although they will be considered present for the purpose of determining the presence of a quorum.

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•

Proposal 4 (Advisory Vote on Frequency of Future Advisory Votes on Executive Compensation): In order for any of the three alternatives regarding the frequency of future advisory votes on executive compensation to be approved, it must receive the affirmative vote of a majority of the votes cast at a meeting at which a quorum is present. Because there are three alternatives, it is possible that none of the three alternatives will be approved. However, stockholders will still be able to communicate their preference with respect to this advisory vote by choosing from among these three alternatives even if none of the alternatives is approved. For purposes of the advisory vote on the frequency of future advisory votes on executive compensation, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the result of the vote, although they will be considered present for the purpose of determining the presence of a quorum.

Will any other matters be voted on?

As of the date of this Proxy Statement, we are not aware of any matters that will come before the Annual Meeting other than those disclosed in this Proxy Statement. If any other matters are properly brought before the Annual Meeting, the persons named in the accompanying proxy card will vote the shares represented by the proxies on the other matters in the manner recommended by the Board, or, if no such recommendation is given, in the discretion of the proxy holders.

How do I vote?

If you are a registered stockholder as of the Record Date, you may submit your proxy by U.S. mail, Internet or telephone by following the instructions in the Notice. If you requested a paper copy of the proxy materials, you also may submit your completed proxy card by mail by following the instructions included with your proxy card. The deadline for submitting your vote by Internet or telephone is 11:59 p.m. Eastern Time on April 27, 2026, which is the day before the Annual Meeting. The designated proxy holders named in the proxy card will vote according to your instructions. You may also attend the Annual Meeting and vote in person.

If you are a street name or beneficial stockholder because your shares are held in a brokerage account or by a bank or other nominee, your broker or nominee firm will provide you with the Notice. Follow the instructions on the Notice to access our proxy materials and vote by Internet or to request a paper or email copy of our proxy materials. If you receive these materials in paper form, the materials include a voting instruction card so that you can instruct your broker or nominee how to vote your shares.

If you sign and submit your proxy card without specifying how you would like your shares voted, your shares will be voted in accordance with the Board’s recommendations specified above under “What are the Board’s voting recommendations?” and in accordance with the discretion of the proxy holders with respect to any other matters that may be voted upon at the Annual Meeting.

If I plan to attend the Annual Meeting, should I still vote by proxy?

Yes. Voting in advance does not affect your right to attend the Annual Meeting. If you send in your proxy card and also attend the Annual Meeting, you do not need to vote again at the Annual Meeting unless you want to change your vote. Written ballots will be available at the meeting for stockholders of record.

Beneficial owners of shares held in street name who wish to vote in person at the Annual Meeting must request a legal proxy from the organization that holds their shares and bring that legal proxy to the Annual Meeting.

How are proxy card votes counted?

If the proxy card is properly signed and returned to us, and not subsequently revoked, it will be voted as directed by you. Unless contrary instructions are given, the persons designated as proxy holders on the proxy card will vote: “FOR” the election of all nominees for the Board named in this Proxy Statement; “FOR” the ratification of the appointment of Crowe as our independent registered public accounting firm for the fiscal year ending December 31, 2026; “FOR” the approval of the compensation of our named executive

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officers; “ONE YEAR” as the preferred frequency with which stockholders are provided future advisory votes on executive compensation and as recommended by our Board with regard to any other matters that may properly come before the Annual Meeting, or, if no such recommendation is given, in their own discretion.

May I revoke my vote after I return my proxy card?

Yes. You may revoke a previously granted proxy and change your vote at any time before the taking of the vote at the Annual Meeting by (i) filing with our General Counsel and Secretary a written notice of revocation or a duly executed proxy bearing a later date or (ii) attending the Annual Meeting and voting in person.

Who pays the costs of soliciting proxies?

We will pay the costs of soliciting proxies, including preparation and mailing of the Notice, preparation and assembly of this Proxy Statement, the proxy card and the Annual Report to Stockholders/Annual Report on Form 10-K for the fiscal year ended December 31, 2025, coordination of the Internet and telephone voting process, and any additional information furnished to you by the Company. Copies of solicitation materials will be furnished to banks, brokerage houses, fiduciaries and custodians holding in their names shares of our Common Stock beneficially owned by others to forward to such beneficial owners. We may reimburse persons representing beneficial owners of shares of our Common Stock for their costs of forwarding solicitation materials to such beneficial owners. Original solicitation of proxies by Internet and mail may be supplemented by telephone, facsimile, or personal solicitation by our directors, officers or other regular employees.

You should rely only on the information provided in this Proxy Statement. We have not authorized anyone to provide you with different or additional information. You should not assume that the information in this Proxy Statement is accurate as of any date other than the date of this Proxy Statement or, where information relates to another date set forth in this Proxy Statement, as of that date.

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PROPOSAL 1: ELECTION OF DIRECTORS

The Board is currently comprised of six directors: Luca Fabbri, John A. Good, Jennifer S. Grafton, Danny D. Moore, Paul A. Pittman and Bruce J. Sherrick, all of whom have terms expiring at the Annual Meeting. The Board is re-nominating all of the current directors other than Ms. Grafton. The nominees have been recommended by the Board for re-election to serve as directors for one-year terms until the 2027 Annual Meeting and until their successors are duly elected and qualify. Based on its review of the relationships between the director nominees and the Company, the Board has affirmatively determined that the following director nominees are “independent” directors under the listing rules of the NYSE and under applicable rules of the Securities and Exchange Commission (the “SEC”): John A. Good, Danny D. Moore, and Bruce J. Sherrick.

The Board knows of no reason why any nominee would be unable to serve as a director. If any nominee is unavailable for election or service, the Board may designate a substitute nominee and the persons designated as proxy holders on the proxy card will vote for the substitute nominee recommended by the Board. Under these circumstances, the Board may also, as permitted by our bylaws, decrease the size of the Board.

Nominees for Election for a One-Year Term Expiring at the 2027 Annual Meeting

The following table sets forth the name and age of each nominee for director, indicating all positions and offices with us currently held by the director.

Name	Age(1)	Title	Director Since
Luca Fabbri	57	President and Chief Executive Officer	2023
John A. Good	68	Independent Director	2018
Danny D. Moore	63	Independent Director	2021
Paul A. Pittman	63	Executive Chairman	2014
Bruce J. Sherrick	62	Independent Director	2024

(1)

Age as of March 17, 2026

Set forth below are descriptions of the backgrounds and principal occupations of each of our directors, and the period during which he or she has served as a director.

Luca Fabbri. Mr. Fabbri has served as our Chief Executive Officer and director since February 2023 and as our President since October 2021 and previously served as our Chief Financial Officer and Treasurer from the founding of our Company until October 2021. From November 2011 until 2014, Mr. Fabbri served as the Senior Vice President and Chief Operating Officer of American Agriculture. Mr. Fabbri was a founder of Co3 Systems Inc., an enterprise software company in Cambridge, MA, and served as its Vice President of Engineering from January 2010 to October 2011. From January 2003 to September 2012, Mr. Fabbri was a consultant with Elk Creek Ventures Inc., providing consulting services in technology, finance and corporate development. From April 2000 to December 2002, Mr. Fabbri served as Head of Corporate Development for Jazz Technologies, Inc. Mr. Fabbri also founded Thejobsite.com, a software company, and served as its Senior Vice President and Chief Financial Officer from April 2000 to December 2002. From August 1997 to January 2000, Mr. Fabbri was an Associate in mergers and acquisitions in the London office of Merrill Lynch & Co. Mr. Fabbri began his career in Italy as a technology and operations consultant. Mr. Fabbri has a B.S. with Honors in Economics from the University of Naples (Italy) and a M.B.A. in Finance from the Massachusetts Institute of Technology.

Based on his knowledge of the Company, its business and properties, his background in finance and his experience in the real estate industry, including acquiring and managing farmland, we have determined that Mr. Fabbri should serve as a director.

John A. Good. Mr. Good has served as a director since his appointment to the Board on January 21, 2018. Since October 2018, Mr. Good has served as the Chief Executive Officer of NexPoint Storage Partners,

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Inc. (formerly, Jernigan Capital, Inc.), a REIT that owns and operates self-storage facilities and provides capital to developers, acquirers and other owners of self-storage facilities.

Mr. Good has also served as Chief Executive Officer of VineBrook Homes Trust, Inc. since August 2024 and as President of VineBrook Homes, Inc. since November 2024. VineBrook Homes Trust, Inc. is a single-family rental REIT. Prior to serving as Chief Executive Officer of Jernigan Capital, Inc., Mr. Good served as the President and Chief Operating Officer of Jernigan Capital, Inc. (NYSE: JCAP) and as a director since June 2015. Prior to joining Jernigan Capital, Inc., Mr. Good was a partner and co-head of the REIT practice group of Morrison & Foerster LLP, a global law firm. From 1999 to 2013, Mr. Good was a partner, multi-term executive committee member and head of the REIT practice at the law firm of Bass, Berry & Sims PLC and prior to that was a stockholder and chair of the securities and M&A practice group at the national law firm of Baker Donelson.

Mr. Good has over 39 years’ experience, in the capacity as counsel and/or principal, working with senior management teams and boards of directors of public companies in the REIT and financial services industries on corporate finance, corporate governance, merger and acquisition, tax, executive compensation, joint venture and strategic planning projects. As a nationally recognized corporate and securities lawyer, he was lead counsel on over 200 securities offerings raising in excess of $25 billion over the past 25 years, with more than 125 of those deals being in the REIT industry. Mr. Good graduated from the University of Memphis with a B.B.A. in accounting, cum laude, in 1980, attained his CPA designation and practiced with a large regional CPA firm until entering University of Memphis School of Law, where he received his J.D. with honors in 1987. When he was a practicing attorney, Mr. Good was nationally ranked by Chambers USA as a leading lawyer to the REIT industry and has been active in NAREIT since 1994.

Based on his extensive experience working with public companies in the REIT industry, we have determined that Mr. Good should serve as a director.

Danny D. Moore. Mr. Moore has served as a director since November 2021. Mr. Moore has served as the President of DeNOVO Solutions, LLC and Thornberry Consulting, LLC, which provide scientific, engineering, technical and operational support services to the United States Department of Defense, since 2012. Mr. Moore has served on the Board of Directors of the Leadership Program of the Rockies since 2019 and on the Board of Directors of the Colorado Business Roundtable since 2020 and previously served as a member of the Board of Advisors of the University of Denver’s Graduate School of Professional Psychology from 2018 to 2020. Prior to his retirement from service in 2005, Mr. Moore served 24 years in the United States Navy. Mr. Moore holds an undergraduate degree from Colorado Christian University and a Master of Business Administration from the University of Phoenix.

Based on his demonstrated operational expertise and leadership credentials, we have determined that Mr. Moore should serve as a director.

Paul A. Pittman. Mr. Pittman has served as our Executive Chairman since our initial public offering in April 2014 and served as our Chief Executive Officer until February 2023 and as our President until November 2021. Mr. Pittman grew up in a farm family and has been buying and operating farms since the mid-1990s. Many of his farmland assets in Illinois, Nebraska, and Colorado were contributed to Farmland Partners Inc. at the time of its initial public offering in 2014. Before devoting full attention to his farming and farmland ownership businesses, Mr. Pittman was the Chief Financial Officer of Jazz Technologies, a publicly traded semiconductor foundry. Prior to that, he started TheJobsite.com, which merged into HomeSphere, an enterprise software company where Mr. Pittman served as President. Mr. Pittman has worked as an investment banker in London, New York and San Francisco specializing in mergers and acquisitions with Merrill Lynch, Wasserstein Perella & Co, and ThinkEquity. He began his career as an attorney with Sullivan & Cromwell LLP. Mr. Pittman served in the United States Coast Guard. He earned a B.S. in Agriculture from the University of Illinois, a master’s degree in Public Policy from Harvard University, and a J.D. with Honors from the University of Chicago Law School.

Based on his knowledge of the Company, its business and properties, his past public company experience, his background in finance and his experience in the real estate industry, including acquiring and managing farmland, we have determined that Mr. Pittman should serve as the Executive Chairman of the Board.

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Bruce J. Sherrick. Dr. Sherrick has served as a director since his appointment to the Board in July 2024. Dr. Sherrick has held the Marjorie and Jerry Fruin Professorship at the University of Illinois since 2013 and has served as the Director of the TIAA-CREF Center for Farmland Research at the university’s Department of Agricultural and Consumer Economics since 2014. Since 2002, Dr. Sherrick has served as a Managing Partner of Integrated Financial Analytics & Research (iFAR), a consulting firm that specializes in credit risk assessment and modeling of agricultural finance institutions. Throughout his career, Dr. Sherrick has been active in the farmland investment community and currently manages webinars and reporting related to the NCREIF Farmland Data Set, a compilation of data that track the investment performance of farmland properties. He also oversees the annual Farmland Values and Lease Trends project for the Illinois Society of Professional Farm Managers and Rural Appraisers. Dr. Sherrick has served as a director of Peoples Company, a farm brokerage company, since 2024, a director of Leading Harvest, an agriculture sustainability company, since 2019 and a director of Twin Cedars Bank, an Iowa financial institution that specializes in agricultural finance, since 2021. Further, Dr. Sherrick served as a director and audit committee member of Farmer Mac (NYSE: AGM), an agricultural credit provider, from 2012 to 2021. Dr. Sherrick also serves as a Senior Advisor for Equilibrium Capital, a sustainability-driven asset management firm, and is on the advisory board of Promised Land Opportunity Zone (the “OZ Fund”), a private investment fund focused on acquiring and improving farmland in certain qualified opportunity zones within the United States. Dr. Sherrick graduated from The Ohio State University with a Bachelor of Science and a Ph.D., with a focus on finance, economics, and agriculture.

Based on his technical expertise, his background in the farmland investment community and his past public company experience, we have determined that Dr. Sherrick should serve as a director.

Vote Required and Recommendation

Directors are elected by plurality vote. Therefore, the five individuals with the highest number of affirmative votes will be elected as director. For purposes of the vote on this proposal, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the result of the vote.

THE BOARD RECOMMENDS A VOTE “FOR” EACH OF THE NOMINEES SET FORTH ABOVE.

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PROPOSAL 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM

The Audit Committee of the Board, which is composed entirely of independent directors, has appointed Crowe as our independent registered public accounting firm for the fiscal year ending December 31, 2026. After careful consideration of the matter and in recognition of the importance of this matter to our stockholders, the Board has determined that it is in our and our stockholders’ best interests to seek the ratification by our stockholders of our Audit Committee’s selection of our independent registered public accounting firm. A representative of Crowe will be present at the Annual Meeting, will have the opportunity to make a statement if he or she so desires and will be available to respond to appropriate questions.

Vote Required and Recommendation

The affirmative vote of the holders of a majority of all the votes cast at the Annual Meeting with respect to the matter is necessary for the approval of the ratification of the appointment of Crowe as our independent registered public accounting firm for the fiscal year ending December 31, 2026. For purposes of the vote on this proposal, abstentions will not be counted as votes cast and will have no effect on the result of the vote. Even if the appointment of Crowe as our independent registered public accounting firm is ratified, the Audit Committee may, in its discretion, change that appointment at any time during the year should it determine such a change would be in our and our stockholders’ best interests. In the event that the appointment of Crowe is not ratified, the Audit Committee will consider the appointment of another independent registered public accounting firm but will not be required to appoint a different firm.

THE BOARD RECOMMENDS A VOTE “FOR” THE RATIFICATION OF THE SELECTION OF
CROWE LLP AS THE COMPANY’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
FOR THE FISCAL YEAR ENDING DECEMBER 31, 2026.

Change of Independent Registered Public Accounting Firm

As previously reported, the Audit Committee elected to dismiss the Company’s previous independent registered public accounting firm, Plante & Moran, PLLC (“Plante Moran”), and engage Crowe as the Company’s new independent registered public accounting firm, effective as of February 25, 2025.

During the fiscal years ended December 31, 2024 and December 31, 2023, and the subsequent interim period through February 25, 2025, the effective date of the Company’s engagement of Crowe, neither the Company nor anyone on the Company’s behalf consulted with Crowe on either (1) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that may be rendered on the Company’s financial statements, and Crowe did not provide either a written report or oral advice to the Company that Crowe concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing, or financial reporting issue; or (2) any matter that was either the subject of a disagreement, as defined in Item 304(a)(1)(iv) of Regulation S-K, or a reportable event, as described in Item 304(a)(1)(v) of Regulation S-K.

The audit reports of Plante Moran on the Company’s financial statements as of and for the fiscal years ended December 31, 2024 and 2023 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. In addition, during the fiscal years ended December 31, 2024 and December 31, 2023, as well as during the subsequent interim period preceding February 25, 2025, there were no (i) “disagreements” (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) between the Company and Plante Moran with respect to any matter relating to accounting principles or practices, financial statement disclosure or auditing scope or procedures which, if not resolved to the satisfaction of Plante Moran, would have caused Plante Moran to make reference to the subject matter of the disagreement in its reports on the Company’s financial statements with respect to such periods; or (ii) “reportable events” (as that term is defined in Item 304(a)(1)(v) of Regulation S-K and the related instructions).

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Audit and Non-Audit Fees for 2025 and 2024

Our consolidated financial statements for the fiscal year ended December 31, 2025 have been audited by Crowe, and our consolidated financial statements for the fiscal year ended December 31, 2024 have been audited by Plante Moran. The following table summarizes the fees for services rendered by Crowe during the fiscal year ended December 31, 2025 and by Plante Moran for the fiscal year ended December 31, 2024.

	Crowe			Plante Moran
	Year Ended December 31, 2025			Year Ended December 31, 2024
Audit Fees(1)		$	483,840		$	557,650
Audit-Related Fees(2)			—			7,250
Tax Fees			—			—
All Other Fees			—			—
Total		$	483,840		$	564,900

(1)

Audit Fees for 2025 and 2024 include actual fees and expenses for the 2025 and 2024 audits and reviews of our Quarterly Reports on Form 10-Q.

(2)

Audit-Related fees for 2025 and 2024 consist of fees related to additional services associated with our securities offerings and registration statements and the issuance of comfort letters and consents.

Pre-Approval Policies and Procedures

The Audit Committee’s policy is to review and pre-approve, either pursuant to the Company’s Audit and Non-Audit Services Pre-Approval Policy (the “Pre-Approval Policy”) or through a separate pre-approval by the Audit Committee, any engagement of the Company’s independent auditor to provide any audit-related and non-audit services to the Company. Pursuant to the Pre-Approval Policy, which the Audit Committee reviews and reassesses periodically, a list of specific services within certain categories of services, including audit, audit-related and tax services, are specifically pre-approved for the upcoming or current fiscal year, subject to an aggregate maximum annual fee payable by us for each category of pre-approved services. Any service that is not included in the approved list of services must be separately pre-approved by the Audit Committee. In addition, the Audit Committee may delegate authority to its chairperson to pre-approve engagements for the performance of audit-related and non-audit services.

Additionally, all audit-related and non-audit services in excess of the pre-approved fee level, whether or not included on the pre-approved list of services, must be separately pre-approved by the Audit Committee. The Audit Committee has delegated authority to its chairperson to pre-approve engagements for the performance of audit and non-audit services, for which the estimated cost for such services shall not exceed $100,000 in the aggregate for any calendar year. The chairperson must report all pre-approval decisions to the Audit Committee at its next scheduled meeting and provide a description of the terms of the engagement. During the year ended December 31, 2024, all of the services provided by Plante Moran were pre-approved under the Pre-Approval Policy. During the year ended December 31, 2025, all of the services provided by Crowe were pre-approved under the Pre-Approval Policy.

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CORPORATE GOVERNANCE AND BOARD MATTERS

We have structured our corporate governance in a manner we believe closely aligns our interests with those of our stockholders. Notable features of our corporate governance structure include the following:

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the Board is not classified, with each of our directors subject to re-election annually;

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a majority of our directors are “independent” within the meaning of the listing standards of the NYSE;

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all of our standing Board committees are comprised solely of independent directors;

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we have opted out of the business combination and control share acquisition statutes in the Maryland General Corporation Law;

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we do not have a stockholder rights plan; and

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we have appointed a lead independent director.

Our directors stay informed about our business by attending meetings of the Board and its committees and through supplemental reports and communications. Our independent directors meet regularly in executive sessions without the presence of our corporate officers or non-independent directors.

Other Governance Enhancements

Our Board has undertaken a series of actions to strengthen our corporate governance, including the following:

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We have adopted stock ownership guidelines, which require our Chief Executive Officer to own Common Stock worth four times his base salary and non-employee directors to own Common Stock having an aggregate value of $100,000. Compliance with the stock ownership guidelines is measured on December 31 of each year, based on the average closing price of a share of our Common Stock for the preceding fiscal year. As of December 31, 2025, our Executive Chairman and our Chief Executive Officer both held stock in excess of four times their base salaries, and each of our four non-employee directors then serving held over $100,000 of stock.

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We have made certain amendments to our Corporate Governance Guidelines, our Policy on Inside Information and Insider Trading, and our Nominating and Corporate Governance Committee Charter, which include certain provisions that have strengthened our corporate governance. For more information about our Insider Trading Policy, see Part III, Item 10 of our Annual Report on Form 10-K for the year ended December 31, 2025. We have also adopted a Compensation Recoupment Policy and certain sustainability policies, as well as an internal cybersecurity policy focused on identifying, preventing and mitigating cybersecurity threats and responding to cybersecurity incidents. For more information on our oversight of cybersecurity risk, please see Item 1C “Cybersecurity” in our Annual Report on Form 10-K for the year ended December 31, 2025.

Role of the Board in Risk Oversight

One of the key functions of the Board is informed oversight of our risk management process. The Board administers this oversight function directly, with support from its three standing committees — the Audit Committee, the Nominating and Corporate Governance Committee and the Compensation Committee — each of which addresses risks specific to their respective areas of oversight. In particular, our Audit Committee has the responsibility to consider and discuss our major financial risk exposures and the steps our management has taken to monitor and control these exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken. The Audit Committee also monitors compliance with legal and regulatory requirements, in addition to oversight of the performance of our internal audit function. Our Nominating and Corporate Governance Committee monitors the effectiveness of our corporate governance guidelines, including whether they are successful in preventing illegal or improper liability-creating conduct. Our Compensation Committee assesses and monitors whether any of our compensation policies and programs has the potential to encourage excessive risk-taking.

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Board Committees

Our Board has established three standing committees: an Audit Committee, a Compensation Committee and a Nominating and Corporate Governance Committee. The principal functions of each committee are described below. We comply with the listing requirements and other rules and regulations of the NYSE, as amended or modified from time to time, and each of these committees is comprised exclusively of independent directors. Additionally, our Board may from time to time establish certain other committees to facilitate the management of our Company.

The table below provides membership information for each of the Board committees as of the date of this Proxy Statement:

Member	Audit Committee	Compensation Committee	Nominating and Corporate Governance Committee
John A. Good*	X (chair)	X	X
Jennifer S. Grafton+	X	X (chair)	X
Danny D. Moore	X	X	X (chair)
Dr. Bruce J. Sherrick	X	X	X

Lead independent director. Ms. Grafton’s term expires at the Annual Meeting, and she has not been nominated by the Board to stand for re-election. Effective upon the end of Ms. Grafton’s term at the Annual Meeting, the Board has appointed Mr. Good to serve as lead independent director. Also Effective upon the Annual Meeting, Mr. Good will serve as chair of the Audit Committee, Dr. Sherrick will serve as chair of the Compensation Committee and Mr. Moore will serve as chair of the Nominating and Corporate Governance Committee.

Audit Committee financial expert

Audit Committee

The Audit Committee is currently comprised of Messrs. Good and Moore, Dr. Sherrick and Ms. Grafton, with Mr. Good serving as chair. Mr. Good qualifies as an “audit committee financial expert” as that term is defined by the applicable SEC regulations. The Board has determined that each of the directors serving on our Audit Committee is “independent” within the meaning of the applicable rules of the SEC and the NYSE listing standards. We have adopted an Audit Committee charter, which details the principal functions of the Audit Committee, including oversight related to:

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our accounting and financial reporting processes;

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the integrity of our consolidated financial statements and financial reporting process;

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our systems of disclosure controls and procedures and internal control over financial reporting;

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our compliance with financial, legal and regulatory requirements;

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the evaluation of the qualifications, independence and performance of our independent registered public accounting firm;

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the performance of our internal audit function; and

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our overall risk profile.

The Audit Committee also is responsible for engaging an independent registered public accounting firm, reviewing with the independent registered public accounting firm the plans and results of the audit engagement, approving professional services provided by the independent registered public accounting firm, including all audit and non-audit services, reviewing the independence of the independent registered public accounting firm, considering the range of audit and non-audit fees and reviewing the adequacy of our internal accounting controls.

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During the fiscal year ended December 31, 2025, the Audit Committee met four times, including virtual and telephonic meetings.

Compensation Committee

The Compensation Committee is currently comprised of Messrs. Good and Moore, Dr. Sherrick and Ms. Grafton, with Ms. Grafton serving as chair. The Board has determined that each of the directors serving on our Compensation Committee is “independent” within the meaning of the applicable rules of the SEC and the NYSE listing standards. We have adopted a Compensation Committee charter, which details the principal authority and functions of the Compensation Committee, including:

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reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer’s compensation, evaluating our Chief Executive Officer’s performance in light of such goals and objectives and determining and approving the remuneration of our Chief Executive Officer based on such evaluation;

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reviewing and approving the compensation of all of our other officers;

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reviewing our executive compensation policies and plans;

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implementing and administering our incentive compensation equity-based remuneration plans;

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assisting management in complying with our proxy statement and annual report disclosure requirements;

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to the extent required by applicable SEC rules, producing a report on executive compensation to be included in our annual Proxy Statement; and

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reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors.

The Compensation Committee may form and delegate its authority to subcommittees when appropriate.

In early 2024, the Compensation Committee engaged Alvarez and Marsal (“A&M”) to assist the Compensation Committee with its assessment of certain performance-based equity awards and related performance metrics. All of the services A&M performed for the Compensation Committee were related to executive and director compensation and were in support of decision making by the Compensation Committee.

During the fiscal year ended December 31, 2025, the Compensation Committee met three times, including virtual and telephonic meetings.

Nominating and Corporate Governance Committee

The Nominating and Corporate Governance Committee is currently comprised of Messrs. Good and Moore, Dr. Sherrick and Ms. Grafton, with Mr. Moore serving as chair. The Board has determined that each of the directors serving on our Nominating and Corporate Governance Committee is “independent” within the meaning of the applicable rules of the SEC and the NYSE listing standards. We have adopted a Nominating and Corporate Governance Committee charter, which details the principal functions of the Nominating and Corporate Governance Committee, including:

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identifying and recommending to the full Board qualified candidates for election as directors and recommending nominees for election as directors at the Annual Meeting of stockholders;

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developing and recommending to the Board corporate governance guidelines and implementing and monitoring such guidelines;

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reviewing and making recommendations on matters involving the general operation of the Board, including board size and composition, and committee composition and structure;

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reviewing and reassessing the adequacy of the Company’s charter and bylaws and recommending any revisions to the Board;

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recommending to the Board nominees for each committee of the Board;

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annually facilitating the assessment of the Board’s performance as a whole and of the individual directors, as required by applicable law, regulations and the NYSE corporate governance listing standards; and

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overseeing the Board’s evaluation of management.

In identifying and recommending nominees for directors, the Nominating and Corporate Governance Committee may consider, among other factors, diversity of relevant experience, expertise and background.

During the fiscal year ended December 31, 2025, the Nominating and Corporate Governance Committee met three times, including virtual and telephonic meetings.

Director Selection Process

The Nominating and Corporate Governance Committee is responsible for, among other things, the selection and recommendation to the Board of nominees for election as directors. In accordance with the Nominating and Corporate Governance Committee charter and our Corporate Governance Guidelines, the Nominating and Corporate Governance Committee develops on an annual basis guidelines and criteria for the selection of candidates for directors of the Board. The Nominating and Corporate Governance Committee considers whether a potential candidate for director has the time available, in light of other business and personal commitments, to perform the responsibilities required for effective service on the Board, along with their personal and professional integrity, demonstrated ability and judgement, experience, familiarity with the Company, diversity (of both experience and background) as well as certain other relevant factors.

Applying these criteria, the Nominating and Corporate Governance Committee considers candidates for Board membership suggested by its members and the Executive Chairman of the Board and Chief Executive Officer as well as stockholders. After completing the identification and evaluation process described above, the Nominating and Corporate Governance Committee recommends the nominees for election to the Board. Taking the Nominating and Corporate Governance Committee’s recommendation into consideration, the Board then approves the nominees for election to the Board for stockholders to consider and vote upon at the annual meeting of stockholders.

On February 17, 2026, the Board approved a reduction in the size of the Board from six members to five members, to be effective immediately following the Annual Meeting.

Stockholders wishing to recommend individuals for consideration as directors must follow the procedures described in Article II, Section 11 of the Company’s bylaws, including (among other requirements) the giving of written notice of the nomination to our Secretary no later than 120 days prior to the first anniversary of the date of the proxy statement for the previous year’s annual meeting. The stockholder’s notice must set forth as to each nominee all information relating to the person that would be required to be disclosed in a solicitation of proxies for election of directors pursuant to Regulation 14A under the Securities Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), if the candidate had been nominated by or on behalf of the Board. Recommendations by stockholders that are made in this manner will be evaluated in the same manner as other candidates. See “Other Matters — Stockholder Proposals and Nominations for the 2027 Annual Meeting.”

Code of Business Conduct and Ethics

The Board has established a code of business conduct and ethics that applies to our officers, directors and employees. Among other matters, our code of business conduct and ethics is designed to deter wrongdoing and to promote:

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honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

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full, fair, accurate, timely and understandable disclosure in our SEC reports and other public communications;

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compliance with applicable laws, rules and regulations;

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prompt internal reporting of violations of the code to appropriate persons identified in the code; and

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accountability for adherence to the code of business conduct and ethics.

Any waiver of the code of business conduct and ethics for our executive officers or directors must be approved by the Board or a committee of the Board, and any such waiver shall be promptly disclosed to stockholders as required by law and NYSE regulations.

Sustainability

We believe a strong commitment to multi-faceted sustainability supports our business model and promotes environmental stewardship. Our sustainability policy is founded on the principle of helping feed the world, especially people in poverty, with the least negative environmental impact possible. Sustainability is considered a high priority topic at all levels of our organization, with a commitment formulated by the Board and senior management.

Social Impact, Human Rights, and Company Culture

Utilizing land for farming creates a more sustainable future for all by affordably feeding the world’s growing population and supplying food products that support better nutrition. Moreover, we act as a channel to bring capital, and therefore economic activity, to rural communities throughout the United States, supporting farming as a livelihood as it has been for thousands of years. We support the United Nations’ Universal Declaration of Human Rights and are committed to ensuring that human rights are respected throughout our extended community of employees, tenants and suppliers. We require our tenants to comply with all applicable labor and environmental regulations. We foster a company culture based on open communication and professional growth, and support employees engaged with non-profit organizations.

Environmental Sustainability

Farmland is in many ways more environmentally friendly than most types of commercial real estate, as agriculture naturally uses solar energy to capture carbon dioxide from the atmosphere and convert it into food, feed, fuel, and fiber. Principles of environmental sustainability are deeply interwoven into modern agricultural practices and are embedded into our farmland acquisition criteria and management practices. We foster long-term relationships with our tenants, who are incentivized to provide good stewardship for the land they rent from us.

Renewable energy generation (wind and solar) is a component of our business model of growing importance. As of December 31, 2025, we leased acres to support two solar energy operational projects across ten farms, which have the capacity to generate approximately 207 megawatts of renewable energy. We own nine additional farms which have options for future solar projects. We expect to continue to take advantage of opportunities to place solar panels and windmills on farmland owned by us.

We place significant emphasis on the support of biodiversity and wildlife. Our portfolio supports biodiversity through the enrollment of acres, in partnership with our tenants, in the U.S. Department of Agriculture’s Conservation Reserve Program (CRP). In exchange for a yearly rental payment, CRP participants agree to remove less-productive land from agricultural production and re-establish native vegetation to improve water quality, prevent erosion, and protect wildlife habitat. We also agreed in 2021 to sell Ducks Unlimited (“DU”) approximately 1,268 acres of farmland in a three-part conservation transaction to support habitat restoration and protection in Virginia. The multi-year, staged sale concluded in November 2023 and was designed to provide DU maximum flexibility to secure capital for the project. Many more of our farms provide habitat for waterfowl and other wildlife.

Sustainability Policies

The Board has adopted and maintains written Environmental Sustainability, Anti-Discrimination and Anti-Harassment, Anti-Bribery and Anti-Corruption Policies, in addition to a written Statement on Human Rights.

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Availability of Corporate Governance Materials

Stockholders may view our corporate governance materials, including the charters of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee, our Corporate Governance Guidelines, our Code of Business Conduct and Ethics and our Code of Ethics for Chief Executive Officer and Senior Financial Officers (including any amendments to or waivers from our Code of Ethics), on our website at www.farmlandpartners.com under “Corporate Information — Governance Documents,” and these documents are available in print to any stockholder who sends a written request to such effect to Farmland Partners Inc., 4600 S. Syracuse Street, Suite 1450, Denver, Colorado 80237, Attention: General Counsel and Secretary. Information contained on or accessible from our website is not and should not be considered a part of this Proxy Statement.

Stockholder Engagement

We believe that regular engagement with stockholders is an important component of effective corporate governance. Our Board and management team seek to maintain an open dialogue with stockholders to understand their perspectives on the Company’s strategy, governance practices and executive compensation programs. This was especially true in 2025 as the non-binding, advisory resolution approving the compensation paid to our named executive officers, as disclosed in our 2025 proxy statement, was not approved by our stockholders, with just under 50% of the votes cast having been voted in favor of the proposal to approve such resolution. This was significantly below the high level of stockholder support for the same proposal in 2024 despite a year-over-year reduction in overall executive compensation.

During October 2025, members of senior management, including the Company’s Executive Chairman and General Counsel, conducted a series of stockholder engagement calls with several of the Company’s major institutional investors. These engagement efforts were undertaken following the 2025 annual meeting in order to better understand stockholder perspectives and to inform the Company’s approach to disclosure and governance matters ahead of the 2026 proxy season. In certain instances, an independent director participated in these discussions. To support these efforts, the Company engaged an independent third-party advisor to assist with preparing for and coordinating the engagement process and to help track and summarize stockholder feedback.

Topics discussed during these engagement calls included, among other matters:

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executive compensation structure and philosophy, including severance arrangements and performance-based compensation;

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the Company’s strategy and long-term value creation objectives, including shareholder value derived from a small management team working to reduce external costs;

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the alignment of executive compensation with the Company’s business strategy and stockholder interests; and

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governance matters and Board oversight of strategy and risk.

One of the areas of concern we heard from investors is that pursuant to our change in control agreement with Susan Landi, our Chief Financial Officer and Treasurer, Ms. Landi’s change in control payment is structured as a “single-trigger” arrangement, meaning that any change in control payment owed pursuant to her agreement becomes payable upon the occurrence of a change in control, without a requirement that her employment be terminated in connection with the transaction. In 2024, Ms. Landi replaced James Gilligan, who also had a single trigger arrangement but at a multiple four times higher than Ms. Landi’s, providing a significant overall cost savings to the Company. A number of investors asked us to provide more disclosure on why we provided Ms. Landi with this arrangement.

The Board believes the structure provided to the Company’s executive officers promotes stability and alignment during periods of strategic review in light of the Company’s business model and asset profile, and particularly in light of the relatively low compensation of the Company’s executives compared to its peers. In evaluating this approach, the Board considered the Company’s lean management structure and the mission-critical nature of each executive’s roles. The Board believes that providing its executives with certainty

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regarding severance arrangements reduces potential conflicts of interest and supports each executive’s focus on maximizing stockholder value in the context of a potential transaction.

The Board and its committees also considered the other feedback received through this engagement process. As reflected in this Proxy Statement, the Company has enhanced its disclosure in several areas in response to this stockholder input, including additional discussion regarding compensation structure, performance considerations and the Compensation Committee’s decision-making process, and the rationale underlying certain governance and compensation practices. The Company expects to continue engaging with stockholders as part of its ongoing governance practices.

Independence of Directors

NYSE listing standards require NYSE-listed companies to have a majority of independent board members and a nominating/corporate governance committee, compensation committee and audit committee, each comprised solely of independent directors. Under the NYSE listing standards, no director of a company qualifies as “independent” unless the Board of Directors of the company affirmatively determines that the director has no material relationship with the company (either directly or as a partner, stockholder or officer of an organization that has a relationship with such company).

The Board currently has six directors, four of whom the Board has affirmatively determined, after broadly considering all relevant facts and circumstances, to be “independent” under the listing standards of the NYSE and under applicable rules of the SEC. The Board has affirmatively determined that each of the following directors is independent under these standards: Ms. Grafton, Messrs. Good and Moore and Dr. Sherrick.

Messrs. Pittman and Fabbri are not independent as they are executive officers of the Company.

Board Leadership Structure

Separate Executive Chairman and Chief Executive Officer Positions

Our bylaws and our Corporate Governance Guidelines provide our Board with flexibility to combine or separate the positions of Chairman of the Board and Chief Executive Officer in accordance with its determination that utilizing one or the other structure is in the best interests of our Company. Mr. Pittman currently serves as our Executive Chairman and Mr. Fabbri currently serves as our Chief Executive Officer and a member of the Board. We believe that this leadership structure is effective because it allows our Board to benefit from having multiple strong voices bringing separate views and perspectives to meetings.

As Executive Chairman, Mr. Pittman’s key responsibilities include facilitating communication between our Board and management, assessing management’s performance, managing Board members, preparing the agenda for each Board meeting, acting as chair of Board meetings and meetings of our Company’s stockholders and managing relations with stockholders, other stakeholders and the public.

In order to ensure that our Board functions independently from management, our independent directors meet regularly in executive session with and without members of management present. Our independent directors may request at any time a meeting restricted to independent directors for the purposes of discussing matters independently of management and are encouraged to do so should they feel that such a meeting is necessary. The Nominating and Corporate Governance Committee, which is comprised solely of independent directors, has the responsibility for coordinating Board and committee self-evaluations.

Lead Independent Director

The Board believes that its governance structure ensures a strong, independent Board even though the Board does not have an independent Chairman. To strengthen the role of our independent directors and encourage independent Board leadership, the Board also has established the position of lead independent director, which currently is held by Ms. Grafton. Effective upon the end of Ms. Grafton’s term at the Annual Meeting, the Board has appointed Mr. Good to serve as lead independent director. The responsibilities of the lead independent director include, among others:

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presiding at all meetings of the Board at which the Chairman of the Board is not present;

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scheduling meetings of the independent directors from time to time, but not less than twice per year;

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developing the agendas for, and presiding at, executive sessions of the independent directors of the Board;

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communicating the sense of the Board to the Chief Executive Officer of the Company;

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assisting the Chairman of the Board to review and set the agenda and schedule for each of the Board’s meetings, including bringing to the attention of the Chairman of the Board particular issues for the Board’s attention and consideration and assuring there is sufficient time for discussion of all agenda items;

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assisting in improving the effectiveness of Board meetings;

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assisting the Chairman of the Board in the review and approval of information and materials to be sent to the Board, including, in particular, providing input as to the quality, quantity and timeliness of the information submitted by the Company’s management that is necessary or appropriate for the independent directors to effectively and responsibly perform their duties; and

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coordinating with committee chairpersons with respect to committee self-evaluations.

Board and Committee Meetings

During the fiscal year ended December 31, 2025, the Board met four times including virtual and telephonic meetings. Each director then serving attended 100% of the applicable Board meetings and committee meetings during this time.

Annual Meeting Attendance

Pursuant to the policy set forth in our Corporate Governance Guidelines, each director is expected to attend the Annual Meeting, which may be satisfied either in person or by remote communication. Each director then serving attended our 2025 annual meeting of stockholders.

Executive Sessions of Non-Management Directors

Pursuant to our Corporate Governance Guidelines and the NYSE listing standards, in order to promote open discussion among non-management directors, our non-management directors meet in executive sessions without management participation regularly. The lead independent director presides at these sessions.

Communications with the Board

Stockholders and other interested parties may communicate with the Board by sending written correspondence to the “Lead Independent Director” c/o the General Counsel and Secretary of Farmland Partners Inc., 4600 S. Syracuse Street, Suite 1450, Denver, Colorado 80237, who will then directly forward such correspondence to the lead independent director. The lead independent director will decide what action should be taken with respect to the communication, including whether such communication should be reported to the full Board.

Director Compensation

As compensation for serving on the Board, each of our independent directors receives an annual fee of $37,500 and an additional $2,500 per year for committee service, regardless of the number of committees on which a director serves. The chair of each of the Audit, Compensation and Nominating and Corporate Governance Committees receives an additional annual fee of $7,500, $5,000 and $2,500, respectively, and the lead independent director receives an additional annual fee of $7,500; provided, however, if the lead independent director also serves as the Audit Committee Chair, he or she receives $2,500, and if he or she serves as both the Audit and Compensation Committee Chair, this amount is increased to $5,000. In addition,

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we reimburse our directors for their reasonable out-of-pocket expenses incurred in attending Board and committee meetings. Messrs. Pittman and Fabbri do not receive any additional compensation for their service on the Board.

The following provides compensation information pursuant to the scaled disclosure rules applicable to emerging growth companies under SEC rules and the JOBS Act.

Director Compensation Table

The following table provides information on the compensation of our directors for the fiscal year ended December 31, 2025, other than Messrs. Pittman and Fabbri, who received no separate compensation for their service as directors. For information related to the compensation of Messrs. Pittman and Fabbri, please refer to “Compensation of Executive Officers — Summary Compensation Table.”

Name	Fees Paid in Cash			Stock Awards(1)(2)			All Other Compensation(2)(3)			Total
John A. Good		$	47,500		$	46,960		$	5,800		$	100,260
Jennifer S. Grafton		$	52,500		$	46,960		$	5,800		$	105,260
Danny D. Moore		$	42,500		$	46,960		$	5,800		$	95,260
Bruce J. Sherrick		$	40,000		$	46,960		$	5,800		$	92,760

(1)

Represents the aggregate grant date fair value of restricted shares of Common Stock granted on February 18, 2025 in accordance with FASB ASC Topic 718. The assumptions used to calculate these amounts are discussed in “Note 9 — Stockholders’ Equity and Non-controlling Interests — Equity Incentive Plan” in the notes to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2025.

(2)

As of December 31, 2025, Mr. Good, Ms. Grafton, Mr. Moore and Dr. Sherrick each beneficially owned 4,000 unvested shares of restricted stock.

(3)

Represents the dollar value of dividends paid on unvested restricted stock awards.

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EXECUTIVE OFFICERS

The following table sets forth information concerning our executive officers. Executive officers are elected annually by the Board and serve at the Board’s discretion.

Name	Age(1)		Title
Paul A. Pittman		63	Executive Chairman
Luca Fabbri		57	President and Chief Executive Officer
Christine Garrison		48	General Counsel and Corporate Secretary
Susan Landi		50	Chief Financial Officer and Treasurer

(1)

Age as of March 17, 2026

Set forth below is a description of the background of our General Counsel and Corporate Secretary, Christine Garrison, and Chief Financial Officer and Treasurer, Susan Landi. The backgrounds of Messrs. Pittman and Fabbri are described above under “Proposals to be Voted On — Proposal 1: Election of Directors.”

Christine Garrison. Ms. Garrison has served as our General Counsel and Corporate Secretary since January 2022 and served as Deputy General Counsel from November 1, 2021 through December 31, 2021. Prior to joining the company, Ms. Garrison served as general counsel for various private and publicly traded real estate companies, including: Global Student Accommodation (GSA) (previously University Communities), a global student housing owner and operator, from May 2019 through October 2021; EdgeCore Digital Infrastructure, a data center owner and operator, from August 2018 through February 2019; and DCT Industrial Inc. (as deputy general counsel), a publicly traded industrial REIT (since acquired by ProLogis, Inc.), from August 2013 through August 2018. From August 2004 through July 2013, Ms. Garrison was an attorney with the law firm of Snell & Wilmer L.L.P., where she practiced in commercial litigation. Ms. Garrison received her J.D. from the University of Colorado and her B.S. from the University of Illinois.

Susan Landi. Ms. Landi has been an accounting and audit professional since 2002. She joined the Company in 2019 as Vice President of Finance and was named Chief Financial Officer in May 2024. Prior to her employment with the Company, she worked as the Managing Member at SOLE Consulting LLC beginning in October 2018. Prior to that, Ms. Landi was employed at Moss Adams, where she served as Audit Senior Manager from 2017 to 2018, and Hein & Associates, where she served as Audit Senior Manager from 2002 to 2017. Ms. Landi received her B.S. in Accounting from Saint Vincent College and her M.B.A. from the University of Colorado. She is also a Certified Public Accountant.

COMPENSATION OF NAMED EXECUTIVE OFFICERS

The following provides compensation information pursuant to the scaled disclosure rules applicable to smaller reporting companies under SEC rules. Our named executive officers (“NEOs”) for 2025, which consist of our principal executive officer and the two other most highly compensated executive officers, are:

2025		2024
Name	Title	Name	Title
Luca Fabbri	Chief Executive Officer and President	Luca Fabbri	Chief Executive Officer and President
Paul A. Pittman	Executive Chairman	Paul A. Pittman	Executive Chairman
Christine Garrison	General Counsel and Corporate Secretary	Christine Garrison	General Counsel and Corporate Secretary
		James Gilligan	Chief Financial Officer and Treasurer

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Summary Compensation Table

The following table sets forth a summary of all compensation earned, awarded or paid, as applicable, to our NEOs in the fiscal years ended December 31, 2025 and 2024.

Name and Principal Position	Year		Salary			Non-Equity Incentive Compensation(1)			Bonus(2)			Stock Awards(3)			All Other Compensation(4)			Total
Paul A. Pittman(5) Executive Chairman		2025		$	575,000		$	121,875		$	203,125		$	636,993		$	205,325		$	1,742,318
Paul A. Pittman(5) Executive Chairman		2024		$	575,000		$	121,875		$	1,325,000		$	895,883		$	67,846		$	2,985,604
Luca Fabbri(5) President and Chief Executive Officer		2025		$	400,000		$	121,875		$	203,125		$	545,556		$	114,616		$	1,385,172
Luca Fabbri(5) President and Chief Executive Officer		2024		$	375,000		$	103,125		$	1,025,000		$	545,001		$	35,710		$	2,083,836
Christine Garrison General Counsel and Corporate Secretary		2025		$	275,000		$	56,250		$	93,750		$	145,477		$	27,063		$	597,540
Christine Garrison General Counsel and Corporate Secretary		2024		$	260,000		$	48,750		$	430,000		$	124,568		$	7,091		$	870,409

(1)

The non-equity incentive compensation awards for Messrs. Pittman and Fabbri and Ms. Garrison are based on achievement of goals and objectives set by the Compensation Committee. For 2025 and 2024, the goals were (1) renewal rates of expiring leases and (2) AFFO/share.

(2)

The bonus awards, which were determined in the sole discretion of the Compensation Committee, were based on the Compensation Committee’s assessment of the individual performance of the NEOs in the years presented. A significant portion of the bonus compensation earned for 2024 included a special bonus that was approved by the Compensation Committee in recognition of exemplary work for asset sales.

(3)

Represents the aggregate grant date fair value of the stock portion of the annual bonus paid to each NEO, computed in accordance with FASB ASC Topic 718. The stock portion of the bonus award was in the form of restricted shares of Common Stock that vest ratably over three years and is presented in the year in which the stock grant was made, rather than the year such grant was earned. For performance-based awards, the grant date fair value of the awards was calculated in accordance with FASB ASC Topic 718 based upon the probable outcome of such conditions. The value of performance-based awards granted in 2024, assuming achievement of the highest level of performance, and using the closing price of a share of our common stock as of the date of grant would be as follows: for Mr. Pittman, $323,612; for Mr. Fabbri, $196,847; and for Ms. Garrison, $44,973. The value of performance-based awards granted in 2025, assuming achievement of the highest level of performance, and using the closing price of a share of our common stock as of the date of grant would be as follows: for Mr. Pittman, $229,846; for Mr. Fabbri, $196,845; and for Ms. Garrison, $52,478. The assumptions used to calculate these amounts are discussed in “Note 9 — Stockholders’ Equity and Non-controlling Interests — Equity Incentive Plan” in the notes to the consolidated financial statements in our 2025 Annual Report on Form 10-K.

(4)

Represents dividends paid on unvested shares of restricted stock.

(5)

Mr. Fabbri was appointed Chief Executive Officer on February 23, 2023. Mr. Pittman, the Company’s previous Chief Executive Officer, continues to serve as Executive Chairman.

Compensation

Performance Metrics and Other Compensation Determinations

The Company historically awarded time-based restricted stock awards as the primary long-term incentive vehicle due to the Company’s size and the importance of retention within a lean management structure. Over time, the Compensation Committee has increased the use of performance-based awards to further strengthen pay-for-performance alignment. The Committee continues to evaluate the appropriate balance between time-based and performance-based awards in light of Company size, volatility and peer practices.

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The Compensation Committee selects performance metrics annually based on factors the Committee believes are most closely aligned with the Company’s strategic priorities for the year. In recent years, these have included metrics related to rental rates of renewed leases, AFFO per share and balance sheet management. The Committee evaluates performance using both quantitative results and qualitative considerations, including capital allocation discipline, cost control initiatives and execution of strategic transactions. The Committee believes that these metrics incentivize management to prioritize recurring cash flow, portfolio quality and long-term value creation over short-term stock price fluctuations.

The Compensation Committee considers the relative responsibilities of the Executive Chairman and Chief Executive Officer in determining compensation levels. The Executive Chairman devotes substantial time to capital allocation, strategic transactions, investor relations and Board leadership functions, while the Chief Executive Officer oversees day-to-day operations and execution and also works closely with the Executive Chairman in fulfilling his Company duties. The Committee believes that the current allocation and levels of compensation reflect this division of responsibilities and supports continuity of leadership. The Committee evaluates compensation not only on an individual basis but also in the aggregate, and believes that the Company’s overall executive compensation expense remains modest relative to similarly situated public REITs and reflects the Company’s lean management structure.

Outstanding Equity Awards at Fiscal Year-End December 31, 2025

The following table presents information about our NEO’s outstanding equity awards as of December 31, 2025.

Name	Grant Date		Number of Shares That Have Not Vested(1)		Market Value of Shares That Have Not Vested(2)			Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested(3)		Equity Incentive Plan Awards: Market Value of Unearned Shares That Have Not Vested(2)
Paul A. Pittman(4) Executive Chairman		2/18/2025		45,687		$	442,707		—		$	—
		3/4/2024		44,629		$	432,455		—		$	—
		2/24/2023		31,732		$	307,483
Luca Fabbri(4) President and Chief Executive Officer		2/18/2025		39,129		$	379,160		—		$	—
		3/4/2024		27,149		$	263,073		—		$	—
		2/24/2023		15,592		$	151,086
Christine Garrison General Counsel and Corporate Secretary		2/18/2025		10,434		$	101,105		—		$	—
		3/4/2024		6,205		$	60,126		—		$	—
		2/24/2023		7,126		$	69,051

(1)

Represents the unvested portion of shares of restricted stock granted under our Fourth Amended and Restated 2014 Equity Incentive Plan, all of which vest ratably on the first three anniversaries of the date of grant.

(2)

Market value reflects the number of restricted shares multiplied by $9.69 per share, which was the closing price of our Common Stock on the NYSE on December 31, 2025.

(3)

The number of shares that have not vested for performance-based stock awards for 2024 grants are estimated to be (i) at zero for awards for which the performance metric is absolute total shareholder return and (ii) at zero for awards for which the performance metric is relative total shareholder return. The vesting period is three years from the grant date. The number of shares that have not vested for performance-based stock awards for 2025 grants are estimated to be (i) at zero for awards for which the performance metric is absolute total shareholder return and (ii) at zero for awards for which the performance metric is relative total shareholder return. The vesting period is three years from the grant date.

(4)

Mr. Fabbri was appointed Chief Executive Officer on February 23, 2023. Mr. Pittman, the Company’s previous Chief Executive Officer, continues to serve as Executive Chairman.

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Pay versus Performance

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance measures for the Company for each of the last three completed fiscal years. The following provides pay versus performance information pursuant to the scaled disclosure rules applicable to smaller reporting companies. In determining the “compensation actually paid” (“CAP”) to our NEOs, we are required to make various adjustments to amounts that have been previously reported in the Summary Compensation Table (“SCT”) in previous years, as the SEC’s calculation methods for this section differ from those required in the SCT. The table below summarizes compensation values both previously reported in the SCT, as well as the adjusted amounts required to be reported in this section for the years ended December 31, 2023, 2024 and 2025.

Pay versus Performance Table

Year	SCT Total for PEO(1)			Compensation Actually Paid to PEO(3)			Average SCT Total for non-PEO NEOs(2)			Average CAP for non-PEO NEOs(3)			Value of Initial Fixed $100 Investment based on Total Shareholder Return			Net Income
2025		$	1,385,172		$	1,167,510		$	1,169,929		$	979,049		$	94.29		$	32,172,000
2024		$	2,083,836		$	2,077,322		$	1,483,638		$	1,470,457		$	116.51		$	61,450,000
2023		$	1,162,823		$	1,171,621		$	1,463,728		$	1,517,090		$	110.32		$	31,681,000

(1)

Our principal executive officer (“PEO”) for the years ended December 31, 2023, 2024 and 2025 was Mr. Fabbri. The dollar amounts reported in this column are the amounts of total compensation reported for our PEO for each corresponding year in the “Total” column of the SCT. See “Executive Compensation — Executive Compensation Tables — Summary Compensation Table.”

(2)

The non-PEO NEOs for the year ended December 31, 2023 were Messrs. Pittman and Gilligan. The non-PEO NEOs for the year ended December 31, 2024 were Messrs. Pittman and Gilligan and Ms. Garrison. The non-PEO NEOs for the year ended December 31, 2025 were Mr. Pittman and Ms. Garrison. The dollar amounts reported in this column are the amounts of total compensation reported for our non-PEO NEOs for each corresponding year in the “Total” column of the SCT. See “Executive Compensation — Executive Compensation Tables — Summary Compensation Table.”

(3)

The dollar amounts reported in these columns represent the amount of “compensation actually paid” to our PEO and our non-PEO NEOs, respectively, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our PEO and our non-PEO NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to total compensation for each year to determine the compensation actually paid:

PEO SCT Total Compensation to CAP Reconciliation

Name	Year		PEO or Non-PEO NEO		SCT Total			To Calculate Executive CAP
Name	Year		PEO or Non-PEO NEO		SCT Total			Deducted(1)			Added(2)			CAP
Luca Fabbri		2025		PEO		$	1,385,172		$	(545,556)		$	327,894		$	1,167,510
Paul Pittman		2025		NEO		$	1,742,318		$	(636,993)		$	316,145		$	1,421,470
Christine Garrison		2025		NEO		$	597,540		$	(145,477)		$	84,565		$	536,628
Luca Fabbri		2024		PEO		$	2,083,836		$	(545,001)		$	538,487		$	2,077,322
Paul Pittman		2024		NEO		$	2,985,604		$	(895,883)		$	865,227		$	2,954,948
James Gilligan		2024		NEO		$	1,809,871		$	(259,520)		$	234,323		$	1,784,674
Christine Garrison		2024		NEO		$	870,409		$	(124,568)		$	128,934		$	874,775
Luca Fabbri		2023		PEO		$	1,162,823		$	(494,993)		$	503,791		$	1,171,621
Paul Pittman		2023		NEO		$	2,189,603		$	(1,006,243)		$	1,080,232		$	2,263,592
James Gilligan		2023		NEO		$	737,853		$	(249,991)		$	282,726		$	770,588

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(1)

Deducted the amount reported in the SCT “Stock Awards” column.

(2)

Added (or subtracted, as applicable) (i) the end of year fair value of stock awards granted during the year that were outstanding and unvested at the end of the year, (ii) the change from the end of the prior fiscal year to the end of the applicable year in the fair value of stock awards granted in any prior year that are outstanding and unvested at the end of the year, and (iii) the change in the fair value of stock awards from the end of the prior fiscal year to the vesting date for stock awards granted in any prior year that vested during the applicable year. All fair values were computed in accordance with FASB ASC Topic 718.

Relationship Between CAP and Financial Measures

There is an important timing difference to consider when comparing the SCT to the CAP. The SCT includes stock awards, generally granted in the first quarter, following the completion and filing of the Annual Report on Form 10-K for such year ended December 31st. The stock awards included in the SCT are based on performance of the executive and the Company in the previous year. The CAP includes stock award changes in fair value (as explained in the table above), driven by stock price performance in the current year.

In 2023, the SCT included stock awards that were associated with performance in 2022. The CAP included stock award changes in fair value driven by stock price performance in 2023, which was relatively flat.

In 2024, the SCT included stock awards that were associated with performance in 2023. The CAP included stock award changes in fair value driven by stock price performance in 2024, which increased approximately 5%.

In 2025, the SCT included stock awards that were associated with performance in 2025. The CAP included stock award changes in fair value driven by stock price performance in 2025, which decreased approximately 14%.

The following describes how each of the financial measures in this section, across the period included, relate to the trends in the CAP to the PEO and the other NEOs (excluding NEOs that were hired, or retired, during the periods, making them non-comparable between the periods):

Total Shareholder Return (TSR): The Company’s TSR was lower in 2025 compared to 2023 and 2024, driven by a decline in the stock price during 2025, compared to relatively flat stock price performance in 2023 and 2024. The lower stock price performance in 2025 compared to 2023 and 2024 contributed to lower CAP amounts in 2025, compared to 2023 and 2024.

Net Income: Net income decreased 47.7% from $61.5 million for the year ended December 31, 2024 to $32.1 million for the year ended December 31, 2025. The CAP amount decreased by approximately 52% for Mr. Pittman, 44% for Mr. Fabbri and 39% for Ms. Garrison during 2025, compared to 2024.

Employment Agreements

On March 9, 2018, we entered into employment agreements with Messrs. Pittman and Fabbri. Those agreements were subsequently amended and restated on December 13, 2018 to make minor clarifying amendments. In connection with their entry into the employment agreements, Messrs. Pittman and Fabbri’s prior employment agreements with the Company were terminated. Subsequently, on October 9, 2021, we amended our employment agreement with Mr. Fabbri solely to reflect his new title of President. The employment agreements with each of Messrs. Pittman and Fabbri had initial three-year terms with automatic one-year renewals thereafter, unless the executive or we provide notice of non-renewal to the other party. In July 2022, we entered into an employment agreement with Ms. Garrison. The employment agreement with Ms. Garrison had an initial three-year term with automatic one-year renewals thereafter, unless Ms. Garrison or we provide notice of non-renewal to the other party.

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The employment agreements provide that:

•

if any of the NEO’s employment is terminated by us for “cause,” by the executive without “good reason,” as a result of a non-renewal of the employment term by the executive, or due to the executive’s death, then we shall pay the executive: (i) all accrued but unpaid wages through the termination date; (ii) all earned and accrued but unpaid bonuses; (iii) all accrued but unused vacation for the year in which the termination occurs through the termination date; and (iv) all approved, but unreimbursed, business expenses;

•

if any NEO’s employment is terminated by us without “cause,” by the executive for “good reason,” as a result of a non-renewal of the employment term by us, or in the event of a change in control, then we shall pay the executive: (i) all accrued but unpaid wages through the termination date; (ii) all earned and accrued but unpaid bonuses; (iii) all accrued but unused vacation for the year in which the termination occurs through the termination date; (iv) all approved, but unreimbursed, business expenses; (v) any COBRA continuation coverage premiums required for the coverage of the executive (and his or her eligible dependents) under our major medical group health plan, generally for a period of 18 months or, if less, until the executive and his or her eligible dependents are no longer entitled to COBRA coverage; and (vi) a cash separation payment equal to a multiple (three times (3x) for Mr. Pittman and two times (2x) for Mr. Fabbri and Ms. Garrison) of the sum of their (A) then-current base salary, (B) the average of the three most recent annual bonuses earned by the executives and (C) the average value of any annual equity award(s) made in connection with the prior three annual grants during the employment term (excluding the initial grant of restricted shares described above, any awards made pursuant to multi-year, at performance or long-term performance program and any other non-recurring awards).

•

if any NEO’s employment is terminated due to the NEO’s “disability,” then we shall pay the executive (or the executive’s estate and/or beneficiaries, as the case may be): (i) all accrued but unpaid wages through the termination date; (ii) all earned and accrued but unpaid bonuses prorated to the date of his or her disability; (iii) all accrued but unused vacation for the year in which the termination occurs through the termination date; (iv) all approved, but unreimbursed, business expenses; and (v) any COBRA continuation coverage premiums required for the coverage of the executive (or his or her eligible dependents) under our major medical group health plan, generally for a period of 18 months or, if less, until the executive and his or her eligible dependents are no longer entitled to COBRA coverage.

Additionally, if the executive’s employment is terminated by us without “cause,” by the executive for “good reason,” or as a result of a non-renewal of the employment term by us, all of the executive’s outstanding unvested equity-based awards (including, but not limited to, restricted stock and restricted stock units) will vest and become immediately exercisable and unrestricted, without any action by the Board or any committee thereof.

The executive’s right to receive the payments and benefits described above is subject to such executive’s delivery and non-revocation of an effective general release of claims in favor of the Company and compliance with customary restrictive covenant provisions, including, relating to confidentiality, noncompetition, nonsolicitation, cooperation and nondisparagement.

The employment agreements also contain provisions addressing a change in control of the Company. For purposes of the employment agreements, a “Change in Control” generally includes (i) the acquisition by a person or group of beneficial ownership of a majority of the Company’s outstanding voting securities, (ii) certain changes in the composition of the Board, or (iii) the consummation of a merger, consolidation or sale of substantially all of the Company’s assets. Upon the occurrence of a Change in Control, the executives are entitled to receive certain benefits, including:

•

a cash payment equal to a multiple (three times (3x) for Mr. Pittman and two times (2x) for Mr. Fabbri and Ms. Garrison) of the sum of their (A) then-current base salary, (B) the average of the three most recent annual bonuses earned by the executives (excluding special bonuses described above) and (C) the average value of any annual equity award(s) made in connection with the prior three annual grants during the employment term (excluding the initial grant of restricted shares described above,

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any awards made pursuant to multi-year, at performance or long-term performance program and any other non-recurring awards); and

•

accelerated vesting of outstanding unvested equity-based awards.

In addition, under the employment agreements, to the extent any payment or benefit would be subject to an excise tax imposed in connection with Section 4999 of the Code, such payments and/or benefits may be subject to a “best pay cap” reduction to the extent necessary so that the executive receives the greater of the (i) net amount of the payments and benefits reduced such that such payments and benefits will not be subject to the excise tax and (ii) net amount of the payments and benefits without such reduction.

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EQUITY COMPENSATION PLAN INFORMATION

The following table gives information about shares of our Common Stock that may be issued under our Fourth Amended and Restated 2014 Equity Incentive Plan as of December 31, 2025.

Plan Category	Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights		Weighted Average Exercise Price of Outstanding Options, Warrants and Rights		Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in First Column)
Equity compensation plans not approved by stockholders		—		—		559,560
Equity compensation plans approved by stockholders		—		—		—
Total		—		—		559,560

Policies and Practices Regarding Equity Grants

The Compensation Committee makes annual equity awards at approximately the same time each year. We do not have any program, plan, or obligation that requires us to grant equity awards on specified dates. The Compensation Committee does not have a practice or policy of granting equity awards in anticipation of the release of material nonpublic information and we do not time the release of material nonpublic information in coordination with grants of equity awards in a manner that intentionally benefits our NEOs. Equity awards may occasionally be granted following a significant change in job responsibilities or to meet other special retention or performance objectives.

REPORT OF THE AUDIT COMMITTEE

One of the principal purposes of the Audit Committee is to assist the Board in the oversight of the integrity of the Company’s financial statements. The Company’s management team has the primary responsibility for the financial statements and the reporting process, including the system of internal controls and disclosure controls and procedures. In fulfilling its oversight responsibilities, the Audit Committee reviewed and discussed the audited financial statements in the Annual Report on Form 10-K for the fiscal year ended December 31, 2025 with our management.

The Audit Committee also is responsible for assisting the Board of Directors in the oversight of the qualification, independence and performance of the Company’s independent auditors. The Audit Committee reviewed with the independent auditors, who are responsible for expressing an opinion on the conformity of those audited financial statements with generally accepted accounting principles, their judgments as to the quality, not just the acceptability, of the Company’s accounting principles and such other matters as are required to be discussed with the Audit Committee under generally accepted auditing standards and those matters required to be discussed by the applicable standards of the Public Company Accounting Oversight Board (“PCAOB”).

The Audit Committee has received both the written disclosures and the letter from Crowe LLP required by applicable requirements of the PCAOB regarding the independent accountant’s communications with the Audit Committee concerning independence, and has discussed with Crowe LLP its independence. In addition, the Audit Committee has considered whether the provision of non-audit services, and the fees charged for such non-audit services, by Crowe LLP are compatible with maintaining the independence of Crowe LLP from management and the Company.

Based on the reviews and discussions referred to above, the Audit Committee recommended to the Board that the Company’s audited financial statements for 2025 be included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 for filing with the SEC.

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Respectfully submitted,

The Audit Committee of the Board of Directors

John A. Good (Chair)

Jennifer S. Grafton

Danny D. Moore

Bruce J. Sherrick

The Report of the Audit Committee above does not constitute “soliciting material” and will not be deemed “filed” or incorporated by reference into any of our filings under the Exchange Act that might incorporate SEC filings by reference, in whole or in part, notwithstanding anything to the contrary set forth in those filings.

PRINCIPAL STOCKHOLDERS

The following table sets forth certain information as of March 3, 2026, regarding the beneficial ownership of shares of our Common Stock (unless otherwise indicated) by (a) each of our directors, (b) each of our named executive officers, (c) all of our directors and executive officers as a group, and (d) each person known to us to be the beneficial owner of more than five percent of our Common Stock. Unless otherwise indicated, all shares are owned directly and the indicated person has sole voting and dispositive power with respect to such shares. The SEC has defined “beneficial ownership” of a security to mean the possession, directly or indirectly, of voting power and/or dispositive power with respect to such security. A stockholder is also deemed to be, as of any date, the beneficial owner of all securities that such stockholder has the right to acquire within 60 days after that date through (a) the exercise of any option, warrant or right, (b) the conversion of a security, (c) the power to revoke a trust, discretionary account or similar arrangement, or (d) the automatic termination of a trust, discretionary account or similar arrangement.

Unless otherwise indicated, the address of each person listed below is c/o Farmland Partners Inc., 4600 S. Syracuse Street, Suite 1450, Denver, Colorado 80237.

Name

Total Shares
Beneficially Owned

Percentage of
Outstanding
Common Stock(1)

Paul A. Pittman

2,934,333(2)

6.7%

Luca Fabbri

377,424

Christine Garrison

41,298

Susan Landi

13,800

Bruce J. Sherrick

32,000(3)

Danny D. Moore

23,707

John A. Good

15,100

Jennifer S. Grafton

10,400

All executive officers, directors and director nominees as a group (9 people)

7.9%

More than 5% Beneficial Owners

The Vanguard Group(4)
100 Vanguard Blvd.,
Malvern, PA 19355

4,713,075

10.8%

BlackRock, Inc.(5)
50 Hudson Yards
New York, NY 10001

4,037,192

9.3%

(1)

Based on an aggregate of 43,629,350 shares of our Common Stock outstanding as of March 3, 2026.

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(2)

Includes 5,300 shares held by Mr. Pittman’s spouse, 1,100 shares held by Mr. Pittman as UTMA custodian for his daughter, Catherine Pittman and 1,200 shares held by Mr. Pittman’s daughter Allison Pittman.

(3)

Includes 4,000 shares held in a simplified employee pension plan.

(4)

Based solely upon the Schedule 13G filed with the SEC by the beneficial owner on February 13, 2024 reporting beneficial ownership as of December 29, 2023. The Vanguard Group possesses sole voting power over 0 shares and sole dispositive power over 4,641,546 shares.

(5)

Based solely upon the Schedule 13G/A filed with the SEC by the beneficial owner on October 17, 2025 reporting beneficial ownership as of September 30, 2025. BlackRock, Inc. possesses sole voting power over 3,901,649 shares and sole dispositive power over 4,037,192 shares.

Less than 1.0%

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS

Related Party Transaction Policy

The Board has adopted a written related person transaction approval policy (“the Related Party Transaction Policies and Procedures” or the “policy”) to further the goal of ensuring that any related person transaction is properly reviewed, approved by the Audit Committee, and fully disclosed in accordance with the rules and regulations of the SEC and the NYSE. The policy applies to transactions or arrangements between the Company and any related person, including directors, director nominees, executive officers, greater than 5% stockholders and the immediate family members of each of these groups (the “Related Persons”). The policy does not, however, apply with respect to general conflicts between the interests of the Company and our employees, officers and directors, including issues relating to engaging in a competing business and receiving certain benefits from the Company, such as loans or guarantees of obligations, which are reported and handled in accordance with the Company’s Code of Business Conduct and Ethics and other procedures and guidelines implemented by the Company from time to time.

Under the policy, the Related Person is responsible for identifying and reporting to the Audit Committee any proposed related person transaction. In the event the Chief Executive Officer determines that it is impractical or undesirable to wait until an Audit Committee meeting can be convened in order to review a transaction with Related Person, the Chairperson of the Audit Committee may act as an authorized subcommittee on behalf of the Audit Committee to review the such transaction, so long as the Chairperson is a disinterested member with respect to such transaction. In connection with its review of a transaction with a Related Person, the Audit Committee will take into account, among other factors it deems appropriate, whether the transaction is on terms no less favorable than terms generally available to an unaffiliated third party under the same or similar circumstances and the extent of the Related Person’s interest in the transaction.

After considering all the facts and circumstances available to the Audit Committee, the Audit Committee will approve, ratify or reject the transaction, in its discretion. All approved transactions with Related Persons will be disclosed to the full Board.

Indemnification of Officers and Directors

Our charter and bylaws provide for certain indemnification rights for our directors and officers and we enter into an indemnification agreement with each of our executive officers and directors providing for procedures for indemnification and the advancement by us of certain expenses and costs relating to claims, suits or proceedings arising from their service to us or, at our request, service to other entities, as officers or directors, or in certain other capacities, to the maximum extent permitted by Maryland law.

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PROPOSAL 3: ADVISORY VOTE ON EXECUTIVE COMPENSATION

Section 14A of the Exchange Act enables our stockholders to vote to approve, on an advisory basis, the compensation of NEOs as disclosed in this Proxy Statement in accordance with the SEC’s rules.

As described in detail under the heading “Compensation of Named Executive Officers,” our executive compensation programs are designed to attract and retain executive talent and to align the interests of our NEOs with the interests of the Company and our stockholders by providing market competitive compensation that is closely tied to short-term and long-term performance goals set by our Compensation Committee.

The compensation of our NEOs is comprised of a mix of base salary, short-term incentive compensation and, from time to time, discretionary awards of restricted stock. Please read the “Compensation of Named Executive Officers” section beginning on page [21] for additional details about our executive compensation programs.

We are asking our stockholders to indicate their support for our NEO compensation as described in this Proxy Statement. Accordingly, our Board is asking our stockholders to cast a non-binding, advisory vote “FOR” the following resolution at the Annual Meeting:

“RESOLVED, that the Company’s stockholders approve, on an advisory basis, the compensation of the named executive officers, as disclosed in the Company’s Proxy Statement for the 2026 Annual Meeting of Stockholders pursuant to the compensation disclosure rules of the SEC, including the Summary Compensation Table and the other related tables and disclosure.”

Vote Required and Recommendation

The vote on the compensation of our NEOs as disclosed in this Proxy Statement is advisory, and therefore not binding on the Company, the Compensation Committee or our Board. Our Board and our Compensation Committee value the opinions of our stockholders and, to the extent there is any significant vote against the NEO compensation as disclosed in this Proxy Statement, we will consider our stockholders’ concerns, and the Compensation Committee will evaluate whether any actions are necessary to address those concerns. We have recommended that our stockholders should cast an advisory vote on the compensation of our NEOs on an annual basis. Unless this policy changes, we expect that the next advisory vote on the compensation of our NEOs will be at the 2027 Annual Meeting. The affirmative vote of a majority of votes cast is required to approve, on an advisory basis, the compensation of the NEOs, as disclosed in the Company’s proxy statement pursuant to the compensation disclosure rules of the SEC, including the Summary Compensation Table and the other related tables and disclosures.

OUR BOARD RECOMMENDS A VOTE “FOR” THE APPROVAL OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS.

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PROPOSAL 4: ADVISORY VOTE ON FREQUENCY OF HOLDING FUTURE ADVISORY VOTES ON EXECUTIVE COMPENSATION

Section 14A(a)(2) of the Exchange Act requires us to submit a non-binding, advisory proposal to shareholders not less frequently than every six years enabling shareholders to vote on whether advisory “Say-on-Pay” votes on the compensation of our NEOs should be held every one, two or three years. In this Proposal No. 4, our Board is asking stockholders to indicate whether they would prefer an advisory vote on executive compensation, such as that set forth in Proposal No. 3, once every one, two, or three years.

Vote Required and Recommendation.

Our Board has determined that an advisory vote on executive compensation that occurs every year is the most appropriate alternative for the Company, and therefore our Board recommends that you vote for a one-year interval for the advisory vote on executive compensation. The Board believes that an annual advisory vote on executive compensation facilitates input from our stockholders on our compensation philosophy, policies and practices that are disclosed in this Proxy Statement. We recognize that our stockholders may have differing views on the appropriate frequency for an advisory vote on executive compensation.

The proxy card provides stockholders with the opportunity to choose among four options (holding the advisory vote on executive compensation every one, two or three years, or abstain from voting) and, therefore, stockholders will not be voting to approve or disapprove the recommendation of the Board.

In order for any of the three alternatives regarding the frequency of future advisory votes on executive compensation to be approved, it must receive the affirmative vote of a majority of the votes cast at a meeting at which a quorum is present. Because there are three alternatives, it is possible that none of the three alternatives will be approved. However, stockholders will still be able to communicate their preference with respect to this advisory vote by choosing from among these three alternatives even if none of the alternatives is approved. Because this vote is advisory and not binding on our Board, our Compensation Committee or the Company in any way, the Board or the Compensation Committee may decide that it is in the best interests of our stockholders and the Company to hold an advisory vote on executive compensation more or less frequently than the option preferred by our stockholders.

OUR BOARD RECOMMENDS A VOTE FOR THE OPTION OF “ONE YEAR” AS THE PREFERRED FREQUENCY WITH WHICH STOCKHOLDERS ARE PROVIDED AN ADVISORY VOTE ON EXECUTIVE COMPENSATION.

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OTHER MATTERS

Other Matters to Come Before the 2026 Annual Meeting

No other matters are to be presented for action at the Annual Meeting other than as set forth in this Proxy Statement. If other matters properly come before the meeting, however, the persons named in the accompanying proxy card will vote all proxies solicited by this Proxy Statement as recommended by the Board, or, if no such recommendation is given, in their own discretion.

Stockholders Proposals and Nominations for the 2027 Annual Meeting

Any stockholder proposal pursuant to Rule 14a-8 of the rules promulgated under the Exchange Act, to be considered for inclusion in our proxy materials for the 2027 Annual Meeting must be received at our principal executive offices no later than November 17, 2026.

In addition, any stockholder who wishes to propose a nominee to the Board or propose any other business to be considered by the stockholders (other than a stockholder proposal included in our proxy materials pursuant to Rule 14a-8 of the rules promulgated under the Exchange Act) must comply with the advance notice provisions and other requirements of Article II, Section 11 of our bylaws, which are on file with the SEC and may be obtained from our Secretary upon request. These notice provisions require that nominations of persons for election to the Board and the proposal of business to be considered by the stockholders for the 2027 Annual Meeting must be received no earlier than October 18, 2026 and no later than November 17, 2026. In addition, stockholders who intend to solicit proxies in support of director nominees other than the Company’s nominees must also comply with the additional requirements of Rule 14a-19(b) of the Exchange Act.

Householding of Proxy Materials

The SEC has adopted rules that permit companies and intermediaries (such as banks and brokers) to satisfy the delivery requirements for notices of annual meetings, proxy statements and annual reports with respect to two or more stockholders sharing the same address by delivering a single proxy statement addressed to those stockholders. This process, which is commonly referred to as “householding,” potentially means extra convenience for stockholders and cost savings for companies. This year, a single notice of the annual meeting of stockholders, or copy of the proxy statement and annual report, will be delivered to multiple stockholders sharing an address unless contrary instructions have been received from the affected stockholders. Once you have received notice from your bank or broker that it will be householding communications to your address, householding will continue until you are notified otherwise or until you revoke your consent. If, at any time, you no longer wish to participate in householding and would prefer to receive a separate proxy statement and annual report, please notify your bank or broker, and direct your written request to Farmland Partners Inc. at 4600 S. Syracuse Street, Suite 1450, Denver, CO 80237, Attention: Secretary, or contact us by telephone at (720) 452-3100. Stockholders who currently receive multiple copies of the proxy statement at their address and would like to request householding of their communications should contact their bank or broker.

****

				By Order of the Board of Directors,
				Christine M. Garrison General Counsel and Secretary
	Denver, Colorado March 17, 2026

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THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. KEEP THIS PORTION FOR YOUR RECORDS DETACH AND RETURN THIS PORTION ONLY TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: Signature [PLEASE SIGN WITHIN BOX] Date Signature (Joint Owners) Date SCAN TO VIEW MATERIALS & VOTE To withhold authority to vote for any individual nominee(s), mark “For All Except” and write the number(s) of the nominee(s) on the line below. 0 0 0 0 0 0 0 0 0 0 0 0 0 0000694858_1 R2.09.05.010 For Withhold For All All All Except The Board of Directors recommends you vote FOR the following: 1. Election of Directors Nominees 01) Mr. Luca Fabbri 02) Mr. John A. Good 03) Mr. Danny D. Moore 04) Mr. Paul A. Pittman 05) Dr. Bruce J. Sherrick FARMLAND PARTNERS INC. 4600 S. SYRACUSE STREET SUITE 1450 DENVER, COLORADO 80237 VOTE BY INTERNET - www.proxyvote.com or scan the QR Barcode above Use the Internet to transmit your voting instructions and for electronic delivery of information. Vote by 11:59 P.M. Eastern Time on 04/27/2026. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form. ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years. VOTE BY PHONE - 1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions. Vote by 11:59 P.M. Eastern Time on 04/27/2026. Have your proxy card in hand when you call and then follow the instructions. VOTE BY MAIL Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. The Board of Directors recommends you vote FOR proposals 2 and 3: For Against Abstain 2. To ratify the appointment of Crowe LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2026. 3. Advisory vote to approve the compensation of our named executive officers. The Board of Directors recommends you vote 1 YEAR on the following proposal: 1 year 2 years 3 years Abstain 4. Advisory vote on the frequency of future advisory votes on executive compensation. NOTE: We may conduct such other business as may properly come before the meeting or any adjournment thereof. Please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer.

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0000694858_2 R2.09.05.010 Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: The Notice and Proxy Statement and Annual Report to Stockholders/Form 10-K are available at www.proxyvote.com FARMLAND PARTNERS INC. Annual Meeting of Stockholders April 28, 2026 9:00 AM MDT This proxy is solicited by the Board of Directors The undersigned hereby appoints Paul A. Pittman and Luca Fabbri, or either of them, as proxies, each with the power to appoint his substitute, and hereby authorizes them to represent and to vote, as designated on the reverse side of this ballot, all of the shares of common stock, $0.01 par value per share, of FARMLAND PARTNERS INC. (the Company), that the undersigned is entitled to vote at the Annual Meeting of Stockholders to be held at 9:00 AM MDT on April 28, 2026, at 4600 S. Syracuse Street, Suite 1450, Denver, CO 80237, and any adjournment or postponement thereof. For Proposal 1 (Election of Directors), you may vote FOR all of the nominees to the Board of Directors or you may WITHHOLD your vote for all of the nominees or for any nominee(s) that you specify. For Proposal 2 (Ratification of the Appointment of Crowe LLP), you may vote FOR or AGAINST such proposal or ABSTAIN from voting. For Proposal 3 (Advisory Vote on Executive Compensation), you may vote “FOR” or “AGAINST” this proposal or “ABSTAIN” from voting. For Proposal 4 (Advisory Vote on Frequency of Future Advisory Votes on Executive Compensation), you may vote 1 YEAR, 2 YEARS, or 3 YEARS or ABSTAIN from voting. This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in accordance with the Board of Directors' recommendations. Continued and to be signed on reverse side

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Date	Price Target	Rating	Analyst
3/12/2026		Outperform → Mkt Perform	Raymond James
12/13/2023	$12.50	Neutral	B. Riley Securities
1/13/2023		Neutral → Buy	Janney
6/21/2022	$16.00	Buy	ROTH Capital
10/14/2021	$14.00	Buy	Berenberg

SEC Form DEF 14A filed by Farmland Partners Inc.

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Director Grafton Jennifer S bought $19,776 worth of shares (1,600 units at $12.36), increasing direct ownership by 13% to 13,600 units (SEC Form 4)

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