Fannie Mae 2006 Annual Report Download - page 214

Pension and Deferred Compensation Benefits
Our named executives are also entitled to the benefits described above in “Pension Benefits” and
“Nonqualified Deferred Compensation.”
Director Compensation Information
Annual compensation for our non-management directors for 2006 was comprised of cash compensation and
equity compensation, consisting of restricted stock awards. Each of these components is described in more
detail below. The total 2006 compensation for our non-management directors is shown in the table below.
Mr. Mudd, who is our only director who is an employee of Fannie Mae, does not receive benefits under any
of these arrangements except for the Matching Gifts Program, which is available to every Fannie Mae
employee, and the Director’s Charitable Award Program.
2006 Non-Employee Director Compensation Table
Name
Fees Earned or
Paid in Cash ($)
Stock
Awards ($)
(1)
Option
Awards ($)
(2)
All Other
Compensation ($)
(3)
Total ($)
Stephen Ashley . . . . . . . . . . . . . . . . . $500,000 $64,770 $17,516 $ 16,689 $598,975
Dennis Beresford . . . . . . . . . . . . . . . 99,950 22,053 N/A 35,691 157,694
Kenneth Duberstein
(4)
. . . . . . . . . . . . 102,600 64,770 17,516 410,335 595,221
Brenda Gaines . . . . . . . . . . . . . . . . . 35,667 5,845 N/A 17,818 59,330
Thomas Gerrity . . . . . . . . . . . . . . . . . 110,533 64,770 17,516 15,821 208,640
Karen Horn . . . . . . . . . . . . . . . . . . . 38,667 5,845 N/A 24,553 69,065
Ann Korologos . . . . . . . . . . . . . . . . . 51,350 — 42,278 14,217 107,846
Bridget Macaskill . . . . . . . . . . . . . . . 139,733 37,347 N/A 18,797 195,877
Donald Marron . . . . . . . . . . . . . . . . . 45,917 — 42,278 53,396 141,591
Joe Pickett . . . . . . . . . . . . . . . . . . . . 122,533 64,770 17,516 36,052 240,871
Leslie Rahl. . . . . . . . . . . . . . . . . . . . 113,700 65,945 17,516 17,770 214,931
Greg Smith. . . . . . . . . . . . . . . . . . . . 166,467 33,058 2,483 17,818 219,826
Patrick Swygert . . . . . . . . . . . . . . . . 113,900 64,770 17,516 34,432 230,617
John Wulff . . . . . . . . . . . . . . . . . . . . 170,600 53,364 9,038 22,005 255,006
(1)
These amounts represent the dollar amounts we recognized for financial statement reporting purposes with respect to
2006 for the fair value of restricted stock granted during 2006 and in prior years in accordance with SFAS 123R. As
required by SEC rules, the amounts shown exclude the impact of estimated forfeitures related to service-based vesting
conditions. The value of the restricted stock awards is calculated as the average of the high and low trading price of
our common stock on the date of grant. During 2006, three directors received restricted stock grants with the
SFAS 123R grant date fair values shown upon joining our Board: Mr. Beresford, $36,033; Ms. Gaines, $26,162, and
Ms. Horn, $26,162.
Ms. Korologos and Mr. Marron each retired from our Board during 2006 and, as a result, forfeited shares of unvested
restricted common stock. The amounts shown do not reflect the reversal of previously recognized compensation cost
for the forfeited shares. The amounts shown also do not reflect the impact of Mr. Gerrity’s forfeiture of 650 shares of
restricted stock upon his resignation from our Board of Directors in December 2006.
As of December 31, 2006, our directors held the following number of shares of restricted stock: Mr. Ashley,
Mr. Beresford, Mr. Duberstein, Ms. Macaskill, Mr. Pickett, Ms. Rahl, Mr. Smith, Mr. Swygert, and Mr. Wulff, 650 shares
each; Ms. Gaines and Ms. Horn, 487 shares each; and Mr. Gerrity, Ms. Korologos, and Mr. Marron, 0 shares.
(2)
These amounts represent the dollar amounts we recognized for financial statement reporting purposes with respect to
2006 for the fair value of stock option awards granted during 2005 and in prior years in accordance with SFAS 123R.
No director has received a stock option award since 2005. For the assumptions used in calculating the value of these
awards, see “Notes to Consolidated Financial Statements—Note 1, Summary of Significant Accounting Policies—
Stock-Based Compensation.” Mr. Beresford, Ms. Gaines, Ms. Horn and Ms. Macaskill have never been awarded
Fannie Mae stock options.
As of December 31, 2006, each of our directors held options to purchase the following number of shares of common
stock, with exercise prices ranging from $42.69 to $79.22 per share and expiration dates ranging from 2007 to 2015:
Mr. Ashley, 26,000 shares; Mr. Beresford, Ms. Gaines, Ms. Horn, and Ms. Macaskill, 0 shares; Mr. Duberstein and
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