Fannie Mae 2009 Annual Report Download - page 228

Compensation—What are the elements of our 2009 executive compensation arrangements?” for more information
about the Board’s discretion to award amounts above or below these target amounts. As discussed above in
“Compensation Discussion and Analysis—Individual Compensation Decisions for 2009,” based on corporate and
individual performance for 2009, in 2010, the Board awarded and FHFA approved long-term incentive awards that
were 90% of these target amounts for each named executive other than Mr. Mayopoulos, as described in footnote 2
below. The actual amounts awarded by the Board and approved by FHFA for 2009 performance are included in the
“Non-Equity Incentive Plan Compensation” column of the “Summary Compensation Table for 2009, 2008 and 2007”
and explained in footnote 4 to that table. The first installment of this award was paid in February 2010 and the second
installment of this award will be paid in the first quarter of 2011.
(2)
In 2010, the Board awarded Mr. Mayopoulos a long-term incentive award equal to 90% of his target long-term
incentive award plus an additional $75,000, as described in “Compensation Discussion and Analysis—Individual
Compensation Decisions for 2009—What elements of our other named executives’ performance did the Board of
Directors consider in determining their 2009 long-term incentive awards?”
Outstanding Equity Awards at 2009 Fiscal Year-End
The following table shows outstanding stock option awards and unvested restricted stock held by the named
executives as of December 31, 2009. The market value of stock awards shown in the table below is based on a
per share price of $1.18, which was the closing market price of our common stock on December 31, 2009. As
of December 31, 2009, the exercise prices of all of the outstanding options referenced in the table below were
substantially higher than the market price of our common stock.
Name
Award
Type
(1)
Grant
Date
Number of
Securities
Underlying
Unexercised
Options (#)
Exercisable
Option
Exercise
Price ($)
Option
Expiration
Date
Number of
Shares or
Units of
Stock That
Have Not
Vested (#)
Market Value of
Shares or
Units of
Stock That
Have Not
Vested ($)
Option Awards
(2)
Stock Awards
(2)
Michael Williams . . . . . . . . . . . . . . O 1/18/2000 20,027
(3)
62.50 1/18/2010
O 11/21/2000 35,610 77.10 11/21/2010
O 1/16/2001 13,087
(3)
78.56 1/18/2010
O 11/20/2001 44,735 80.95 11/20/2011
O 1/21/2003 63,836 69.43 1/21/2013
O 1/23/2004 73,880 78.32 1/23/2014
RS 3/22/2006 15,403
(4)
18,176
RS 1/25/2007 46,311 54,647
RS 1/28/2008 111,567 131,649
Herbert Allison . . . . . . . . . . . . . . . . N/A
David Johnson . . . . . . . . . . . . . . . . N/A
Kenneth Bacon . . . . . . . . . . . . . . . . O 1/18/2000 16,536
(3)
62.50 1/18/2010
O 11/21/2000 11,410 77.10 11/21/2010
O 11/20/2001 13,080 80.95 11/20/2011
O 1/21/2003 25,478 69.43 1/21/2013
O 1/23/2004 27,622 78.32 1/23/2014
RS 3/22/2006 6,190
(4)
7,304
RS 1/25/2007 18,975 22,391
RS 1/28/2008 46,642 55,038
David Benson . . . . . . . . . . . . . . . . . O 6/3/2002 12,000 79.33 6/3/2012
O 6/3/2002 20,080
(5)
79.33 6/3/2012
O 1/21/2003 9,624 69.43 1/21/2013
O 1/21/2003 2,408
(3)
69.43 1/18/2010
O 1/23/2004 12,223 78.32 1/23/2014
RS 3/22/2006 1,091
(4)
1,287
RS 3/22/2006 323
(4)
381
RS 1/25/2007 5,966 7,040
RS 1/28/2008 17,957 21,189
Timothy Mayopoulos. . . . . . . . . . . . N/A
223