Fannie Mae 2008 Annual Report Download - page 244

our stock was trading when the awards were granted, which were significantly higher than $0.76, the closing
price of our common stock on December 31, 2008.
(1)
Name and
Principal Position Year
Salary
($)
Bonus
($)
(2)
Stock
Awards
($)
(1)(3)
Option
Awards
($)
(4)
Non-Equity
Incentive
Plan
Compensation
($)
(5)
Change in
Pension
Value and
Nonqualified
Deferred
Compensation
Earnings
($)
(6)
All Other
Compensation
($)
(10)
Total
($)
(1)
Herbert Allison
(7)
.............. 2008 — — — — — — 58,260 58,260
President and Chief Executive
Officer
David Johnson
(8)
............... 2008 48,077 — — — — — 962 49,039
Executive Vice President and Chief
Financial Officer
Kenneth Bacon . ............... 2008 527,262 670,000 1,383,400 9,099 — 271,981 58,800 2,920,542
Executive Vice President—Housing
and Community Development
David Hisey
(8)
................ 2008 382,904 737,000 856,753 45,851 160,000 62,450 43,209 2,288,167
Executive Vice President and
Deputy Chief Financial Officer and
Former Chief Financial Officer
Thomas Lund . . ............... 2008 540,702 670,000 1,481,530 7,350 — 212,398 35,412 2,947,392
Executive Vice President—Single-
Family Mortgage Business
Michael Williams .............. 2008 676,000 871,000 3,387,047 24,336 — 724,874 43,034 5,726,291
Executive Vice President 2007 697,164 — 2,916,660 404,434 1,189,760 359,279 55,418 5,622,715
and Chief Operating Officer 2006 650,000 — 1,808,182 701,446 1,630,200 371,753 69,482 5,231,063
Daniel Mudd
(9)
................ 2008 951,923 — 1,549,444 34,835 — 1,807,016 211,454 4,554,672
Former President and Chief 2007 986,923 — 6,840,214 576,492 2,227,500 863,749 154,251 11,649,129
Executive Officer 2006 950,000 — 4,799,057 962,112 3,500,000 932,958 136,072 11,280,199
Stephen Swad
(9)
............... 2008 442,500 — 2,120,057 — — 171,643 683,441 3,417,641
Former Executive Vice President
and Chief Financial Officer
2007 420,000 500,000 920,741 — 955,500 190,915 37,747 3,024,903
Enrico Dallavecchia
(9)
........... 2008 389,400 — 1,906,014 — — 194,961 612,272 3,102,647
Former Executive Vice President
and Chief Risk Officer
Robert Levin
(9)
................ 2008 788,000 — 4,356,268 33,143 — 439,147 43,099 5,659,657
Former Executive Vice President 2007 785,077 — 3,884,783 546,654 1,477,500 203,174 70,545 6,967,733
and Chief Business Officer 2006 750,000 — 2,477,097 883,442 2,087,250 307,078 70,710 6,575,577
(1)
Because the amounts shown in the “Stock Awards” column are primarily based on the trading price of our common
stock on the date of grant, the values shown are significantly higher than the value of these awards to our named
executives, especially for 2008. The table below shows what the “Stock Awards” and “Total” compensation amounts
for 2008 would be if (1) for the awards that remained unvested as of December 31, 2008, we recalculate these
amounts using $0.76, the closing price of our common stock on December 31, 2008, and (2) for the awards that
vested during 2008, we continue to calculate the amounts using the grant date fair value. If an executive had no
unvested stock on December 31, 2008, the amount shown in the “Stock Awards, Adjusted” column is the same as the
amount in the Summary Compensation Table above.
2008 stock award and total compensation amounts using $0.76 per share to value awards unvested at
December 31, 2008
Executive
Stock Awards,
Adjusted ($) Total ($) Executive
Stock Awards,
Adjusted ($) Total ($)
Herbert Allison . . . . . . . . . . — 58,260 Michael Williams 337,214 2,676,458
David Johnson . . . . . . . . . . . — 49,039 Daniel Mudd 1,549,444 4,554,672
Kenneth Bacon. . . . . . . . . . . 130,845 1,667,987 Stephen Swad 488,199 1,785,783
David Hisey. . . . . . . . . . . . . 148,434 1,579,848 Enrico Dallavecchia 354,964 1,551,597
Thomas Lund. . . . . . . . . . . . 139,010 1,604,872 Robert Levin 454,169 1,757,558
(2)
For 2008, amounts shown under the “Bonus” column reflect the entire service-based portion of awards made under
our 2008 Retention Program, including amounts that will not be paid until April 2009 and November 2009 and that
will become payable only if the named executive remains employed by us on the payment date or is involuntarily
terminated prior to the payment date for reasons other than unsatisfactory performance. Of the amounts included in
the table, only 30% was actually paid to the named executives in 2008. More information about the retention awards
239