Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 11, 2021, the Board of Directors (the "Board") of Farmland Partners Inc. (the "Company") increased the size of the Board from five directors to six directors and appointed Toby O'Rourke as an independent director, effective immediately, to fill the vacancy created by the increase in the number of directors. Ms. O'Rourke will serve until the Company's 2021 annual meeting of stockholders (the "2021 Annual Meeting") or until her successor is duly elected and qualifies.

The Board affirmatively determined that Ms. O'Rourke is an independent director within the meaning of the New York Stock Exchange listing standards. Ms. O'Rourke has not been named to any Board committees at this time.

Ms. O'Rourke has served as the President and Chief Executive Officer of KOA, Inc. ("KOA"), a franchisor campground operator, since March 2019. Ms. O'Rourke served as the President of KOA from March 2018 to March 2019 and the Chief Operations Officer of KOA from January 2016 to March 2018. Ms. O'Rourke holds an undergraduate degree from University of Notre Dame and a Masters of Business Administration from Northwestern University's Kellogg School of Management.

Ms. O'Rourke's compensation as a director will be consistent with the compensation policies applicable to the Company's other non-employee directors. The Company has entered into an indemnification agreement with Ms. O'Rourke in connection with her appointment to the Board, which is in substantially the same form as that entered into with the executive officers and other directors of the Company. Neither Ms. O'Rourke nor any member of her immediate family has or had a direct or indirect interest in any transaction in which the Company or any of its subsidiaries is or was a participant that would be required to be disclosed under Item 404(a) of Regulation S-K.

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