Fannie Mae 2009 Annual Report Download - page 226

The amount shown for Mr. Williams for 2007 in the “Non-Equity Incentive Plan Compensation” column represents
the amount he earned under our Annual Incentive Plan in 2007. This amount was paid to Mr. Williams in 2008.
(5)
The reported amounts represent change in pension value. We calculated these amounts using the same assumptions
we use for financial reporting under GAAP, using a discount rate of 6.10% at December 31, 2009. None of our
named executives received above-market or preferential earnings on nonqualified deferred compensation.
(6)
See the table entitled “Components of ‘All Other Compensation’ for 2009” below for more information about the
amounts reported for 2009 in the “All Other Compensation” column, which include (1) perquisites and other personal
benefits, including relocation and temporary living expenses, if the total amount of the perquisites provided to the
named executive was $10,000 or more; (2) company contributions under our Retirement Savings Plan (401(k) Plan);
(3) company credits to our Supplemental Retirement Savings Plan; (4) payments of universal life insurance coverage
premiums; (5) tax gross-ups; and (6) matching charitable contributions under our matching charitable gifts program.
(7)
Amounts for 2008 and 2007 in the “Stock Awards” and “Total” columns have been recomputed to reflect the
aggregate grant date fair value of the restricted stock granted during each year in accordance with the accounting
standards for stock compensation, rather than the amount recognized for financial statement purposes with respect to
the restricted stock during each year.
(8)
Mr. Williams became our President and Chief Executive Officer on April 21, 2009. He previously served as Fannie
Mae’s Executive Vice President and Chief Operating Officer from November 2005 through April 20, 2009. Rather
than receiving his 2009 deferred pay in four equal installments, Mr. Williams’ 2009 deferred pay will be paid in the
following four installments: $581,000 in March 2010, $736,200 in June 2010, $775,000 in September 2010 and
$775,000 in December 2010.
(9)
Mr. Allison was our President and Chief Executive Officer from September 2008 through April 2009. At his request,
he did not receive any salary, deferred pay or long-term incentive awards for his 2008 or 2009 service to Fannie Mae.
(10)
Mr. Johnson joined Fannie Mae in November 2008.
(11)
Mr. Bacon’s 2009 base salary rate was reduced from his 2008 base salary rate, but this change was not implemented
until January 1, 2010. Because he was paid at his higher 2008 base salary rate during 2009, the $55,400 difference
between his 2008 base salary rate and his 2009 base salary rate will be deducted from his deferred pay received in
2010. Amounts shown for Mr. Bacon in the “Salary” column reflect the amounts paid to him during 2009 at his 2008
base salary rate. Similarly, amounts shown for Mr. Bacon in the “Bonus” column reflect his 2009 deferred pay as
reduced by the $55,400 that will be deducted from this pay in 2010.
(12)
Mr. Mayopoulos has been an employee of Fannie Mae since April 21, 2009 and was engaged as a consultant for
Fannie Mae from February 17, 2009 through April 20, 2009. Amounts shown in the “Salary” column for
Mr. Mayopoulos consist of (a) $353,846 in base salary paid to him from April 21, 2009 (the date he became an
employee of Fannie Mae) through December 31, 2009; and (b) $85,500 in fees paid to him from February 17, 2009
through April 20, 2009 for his services as a consultant. Rather than receiving his 2009 deferred pay in four equal
installments, Mr. Mayopoulos’ 2009 deferred pay included in the “Bonus” column will be paid in the following four
installments: $176,360 in March 2010, $367,416 in June 2010, $367,417 in September 2010 and $367,417 in
December 2010.
Components of “All Other Compensation” for 2009
The table below shows more information about the amounts reported for 2009 in the “All Other Compensation”
column of the “Summary Compensation Table for 2009, 2008 and 2007” above.
Name
Perquisites
and Other
Personal
Benefits
(1)
Company
Contributions to
Retirement Savings
(401(k)) Plan
Company
Credits to
Supplemental
Retirement Savings
Plan
Universal Life
Insurance
Coverage
Premiums
(2)
Tax
Gross-Ups
(3)
Charitable
Award
Programs
(4)
Michael Williams . . . . . . — $7,350 — $99,880 — $3,950
Herbert Allison. . . . . . . . — — — 216,381 $114,477 —
David Johnson . . . . . . . . $128,841 19,600 $34,400 — 9,524 —
Kenneth Bacon . . . . . . . . — 7,350 — 49,646 — —
David Benson. . . . . . . . . — 12,250 — 35,515 — 50
Timothy Mayopoulos . . . 58,831 19,600 8,708 — — —
(1)
In accordance with SEC rules, amounts shown under “All Other Compensation” do not include perquisites or personal
benefits for a named executive that, in the aggregate, amount to less than $10,000. In addition to the perquisites
discussed below, our executives may have used company drivers and vehicles and our corporate dining service for
personal purposes, in which case they reimbursed us our incremental cost.
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