Freddie Mac 2015 Annual Report Download - page 375

Executive Compensation 2015 Compensation Information for NEOs
Freddie Mac 2015 Form 10-K 373
2015 COMPENSATION INFORMATION FOR NEOs
The following sections 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, 2015.
SUMMARY COMPENSATION TABLE
Salary
Non-Equity
Incentive Plan
Compensation (4) All Other Compensation (5)
Year Earned During Year (1) Deferred (2) Bonus (3) Total
Donald H. Layton 2015 $ 660,345 $ 818,886 $ — $ 472,748 $ 56,958 $ 2,008,937
Chief Executive Officer 2014 600,000 — — 60,586 660,586
2013 600,000 — — 23,827 623,827
James G. Mackey 2015 500,000 1,600,000 — 887,608 86,674 3,074,282
EVP — Chief Financial
Officer 2014 500,000 1,600,000 450,000 900,585 21,099 3,471,684
2013 70,881 230,303 510,000 127,602 — 938,786
Michael T. Hutchins(6) 2015 461,810 1,181,728 — 699,274 79,659 2,422,471
EVP — Investments &
Capital Markets
David B. Lowman 2015 500,000 1,600,000 — 887,608 86,674 3,074,282
EVP — Single-Family
Business 2014 500,000 1,600,000 — 900,585 65,045 3,065,630
2013 329,502 1,048,485 150,000 580,926 — 2,108,913
William H. McDavid 2015 500,000 1,320,000 — 769,260 86,324 2,675,584
EVP — General
Counsel and
Corporate Secretary
2014 500,000 1,320,000 — 780,507 110,168 2,710,675
2013 500,000 1,320,000 — 768,300 29,713 2,618,013
(1) Amounts shown reflect Base Salary earned during the year.
(2) Amounts shown reflect Fixed Deferred Salary earned during the year. Fixed Deferred Salary earned during each quarter is paid
in cash on the last pay date 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
on corporate and individual performance. Interest on Fixed Deferred Salary earned during 2015 and 2014 is included in All
Other Compensation.
(3) Amounts shown reflect cash sign-on payments made to Messrs. Mackey and Lowman in connection with their hiring in 2013.
See “— Written Agreements Relating to NEO Employment” for additional information.
(4) Amounts shown reflect At-Risk Deferred Salary earned during each year and, for 2015 and 2014, interest on that At-Risk
Deferred Salary. No interest accrued on Deferred Salary earned during 2013 under the terms of the executive compensation
program in effect for that year. The interest rate for At-Risk Deferred Salary earned during 2015 and 2014 was 0.125% and
0.065%, respectively, which is equal to 50% of the one-year Treasury Bill rate as of December 31 of the applicable prior year.
At-Risk Deferred Salary earned during each quarter is paid on the last pay date of the corresponding quarter in the following
year. See “— Determination of 2015 At-Risk Deferred Salary.”
(5) Amounts for 2015 reflect (i) contributions earned under our tax-qualified Thrift/401(k) Plan for the year; (ii) accruals earned
pursuant to the SERP Benefit for the year; (iii) interest on Fixed Deferred Salary earned during the year; and (vi) perquisites.
These amounts for 2015 are as follows: