Freddie Mac 2014 Annual Report Download - page 268

263 Freddie Mac
Compensation Tables
The following tables set forth compensation information for our NEOs: our CEO, CFO and the three other most highly
compensated executive officers who were serving as executive officers as of December 31, 2014.
Table 69 — Summary Compensation Table — 2014
Salary Non-Equity Incentive
Plan Compensation (4) Change in
Pension Value
and Nonqualified
Deferred
Compensation
Earnings(5) All Other Compensation (6)
Name and Principal
Position Year
Earned
During
Year (1) Deferred (2) Bonus (3)
At-Risk
Deferred
Salary Target Opportunity Total
Donald H. Layton 2014 $ 600,000 $ — $ — $ — $ — $ — $ 60,586 $ 660,586
Chief Executive Officer 2013 600,000 — — — — — 23,827 623,827
2012 368,750 — — — — — — 368,750
James G. Mackey 2014 500,000 1,600,000 450,000 900,585 — — 21,099 3,471,684
EVP — Chief Financial
Officer 2013 70,881 230,303 510,000 127,602 — — — 938,786
David B. Lowman 2014 500,000 1,600,000 — 900,585 — — 65,045 3,065,630
EVP — Single-Family
Business 2013 329,502 1,048,485 150,000 580,926 — — — 2,108,913
William H. McDavid 2014 500,000 1,320,000 — 780,507 — — 110,168 2,710,675
EVP — General Counsel
and Corporate Secretary 2013 500,000 1,320,000 — 768,300 — — 29,713 2,618,013
Jerry Weiss 2014 500,000 900,000 — 600,390 — — 174,203 2,174,593
EVP — Chief
Administrative Officer 2013 495,000 891,000 — 570,240 — 26,394 84,015 2,066,649
2012 495,000 891,000 — 579,150 348,333 218,711 94,584 2,626,778
(1) The amounts shown reflect Base Salary under the executive compensation program in effect for the applicable year as described in “Compensation
Discussion and Analysis — Executive Management Compensation Program.”
(2) The amounts shown reflect the Fixed Deferred Salary earned under the terms of the executive compensation program in effect for the applicable year.
Fixed Deferred Salary earned during each calendar quarter is paid in cash on the last business day of the corresponding quarter in the following year.
The remaining portion of Deferred Salary is reported in “Non-Equity Incentive Plan Compensation” and is referred to as “At-Risk” because it is subject
to reduction based upon corporate and individual performance. Interest on Fixed Deferred Salary earned during 2014 is included in All Other
Compensation.
(3) The amounts shown reflect cash sign-on payments made to Messrs. Mackey and Lowman in connection with their hiring in 2013. See “Compensation
Discussion and Analysis — Written Agreements Relating to Our NEOs' Employment” for additional information.
(4) The 2014 amounts reflect At-Risk Deferred Salary earned during 2014 and interest on that At-Risk Deferred Salary. The interest rate for At-Risk
Deferred Salary earned during 2014 was 0.065%, equal to 50% of the one-year Treasury Bill rate as of December 31, 2013. At-Risk Deferred Salary
earned during each calendar quarter will be paid on the last pay date of the corresponding quarter in 2015. See “Compensation Discussion and
Analysis — Executive Management Compensation Program — Performance Measures for the Performance-Based Elements of Compensation.” The
2013 amounts reflect At-Risk Deferred Salary earned during each calendar quarter in 2013 and paid on the last pay date of the corresponding quarter in
2014. The 2012 amounts reflect (i) At-Risk Deferred Salary earned during each calendar quarter in 2012 and paid on the last business day of the
corresponding quarter in 2013, and (ii) the portion of the 2011 Target Opportunity that was earned in 2012 and paid in February 2013.
(5) The amounts reported in this column reflect the actuarial increase in the present value of each NEO's accrued benefits under the Pension Plan and the
Pension SERP Benefit determined using the time periods and assumptions applied in our consolidated financial statements for the years ended
December 31, 2014, 2013, and 2012, respectively. The amounts reported do not include values associated with retiree medical benefits, which are
generally available on the same terms to all employees.
Mr. Weiss is the only NEO eligible to participate in the Pension Plan or Pension SERP. No benefits accrued under the Pension Plan and Pension SERP
for the year ended December 31, 2014. As a result of the distribution of Terminating SERP benefits in 2014, the aggregate change in the actuarial
present value of Mr. Weiss’s accumulated pension benefit in these plans from December 31, 2013 to December 31, 2014 was a reduction. As required
by SEC rules, however, the amount reported for Mr. Weiss for this period is zero.
(6) Amounts reflect (i) contributions we made to our tax-qualified Thrift/401(k) Savings Plan and earned for plan year 2014; (ii) accruals we made
pursuant to the Thrift/401(k) SERP Benefit and earned for plan year 2014; (iii) contributions that will be made to our Transitional Plan in 2015 for plan
year 2014; (iv) SERP II accruals earned for plan year 2014; (v) interest on Fixed Deferred Salary earned during 2014; and (vi) perquisites. The amounts
for 2014 are as follows:
Thrift/401(k)
Savings Plan
Contributions
Thrift/401(k)
SERP Benefit
Accruals
Transitional
Plan
Contributions SERP II Accruals
Interest on
Fixed Deferred
Salary Perquisites
Mr. Layton $ 28,475 $ 32,111 $ — $ — $ — $ —
Mr. Mackey 6,500 13,559 — — 1,040 —
Mr. Lowman 11,730 52,275 — — 1,040 —
Mr. McDavid 28,475 80,835 — — 858 —
Mr. Weiss 21,975 62,251 18,900 70,492 585 —
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