Fannie Mae 2010 Annual Report Download - page 226

(3)
Amounts shown in the “Stock Awards” column represent the aggregate grant date fair value of restricted stock
granted during the applicable year computed in accordance with the accounting standards for stock compensation.
The amounts shown exclude the impact of estimated forfeitures related to service-based vesting conditions. The grant
date fair value of restricted stock for each year is the average of the high and low trading price of our common stock
on the date of grant.
(4)
Amounts shown for 2010 in the “Non-Equity Incentive Plan Compensation” column include the first installment of
the 2010 long-term incentive award, which was based on corporate and individual performance for 2010. The amount
of the first installment of the 2010 long-term incentive award awarded to each named executive was as follows:
$900,000 for Mr. Williams, $325,000 for Mr. Hisey, $440,000 for Mr. Benson, $420,000 for Mr. Edwards and
$485,000 for Mr. Mayopoulos. This first installment of the 2010 long-term incentive award is paid in February 2011.
The second installment of the 2010 long-term incentive award will be determined and paid in the first quarter of
2012 based on corporate and individual performance for both 2010 and 2011, and therefore is not included as 2010
compensation in this table. As noted in footnote 9 below, Mr. Johnson will not receive payment of a 2010 long-term
incentive award because he left the company prior to the payment dates for the award.
Amounts shown for 2010 in the “Non-Equity Incentive Plan Compensation” column also include the performance-
based portion of 2010 deferred pay, which was based on corporate performance for 2010. The amount of the
performance-based portion of 2010 deferred pay awarded to each named executive was as follows: $1,395,000 for
Mr. Williams, $470,250 for Mr. Hisey, $616,350 for Mr. Benson, $616,350 for Mr. Edwards and $661,350 for
Mr. Mayopoulos. These amounts represent 90% of the target amount of the performance-based portion of 2010
deferred pay for each named executive. As noted in footnote 2, 2010 deferred pay will be paid in four equal
installments in March, June, September and December 2011. These amounts generally will be paid only if the named
executive remains employed by us on the payment date. As noted in footnote 9 below, Mr. Johnson will not receive
payment of 2010 deferred pay because he left the company prior to the payment dates.
More information about deferred pay and long-term incentive awards is presented in “Compensation Discussion and
Analysis—2010 Executive Compensation Program—Elements of 2010 Compensation Program.”
Amounts shown for 2009 in the “Non-Equity Incentive Plan Compensation” column include long-term incentive
awards awarded based on 2009 corporate and individual performance. The amount of this award was $1,665,000 for
Mr. Williams, $657,000 for Mr. Hisey, $837,300 for Mr. Benson and $842,601 for Mr. Mayopoulos. These long-term
incentive awards were payable in two equal installments. The first installment was paid in February 2010 and the
second installment is paid in February 2011. As described in footnote 9 below, the amount of the 2009 long-term
incentive award originally awarded to Mr. Johnson was $1,035,000; however, Mr. Johnson did not receive the second
$517,500 installment of this award because he left the company prior to the payment date for the installment.
Accordingly, the 2009 amount shown in this column for Mr. Johnson consists of only the first $517,500 installment
paid to him in February 2010.
Amounts shown for 2009 in the “Non-Equity Incentive Plan Compensation” column for Messrs. Williams, Hisey and
Benson also include the performance-based portion of their 2008 Retention Program award, which was based on
2009 corporate performance. The amount of this award was $386,100 for Mr. Williams, $326,700 for Mr. Hisey and
$445,500 for Mr. Benson. This portion of the 2008 Retention Program award was paid in February 2010.
Messrs. Johnson and Mayopoulos did not receive 2008 Retention Program awards.
(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 5.65% at December 31, 2010. None of our
named executives received above-market or preferential earnings on nonqualified deferred compensation.
(6)
The table below shows more information about the amounts reported for 2010 in the “All Other Compensation”
column, which include (1) company contributions under our Retirement Savings Plan (401(k) Plan); (2) company
credits to our Supplemental Retirement Savings Plan; and (3) matching charitable contributions under our matching
charitable gifts program.
Name
Company
Contributions to
Retirement Savings
(401(k)) Plan
Company
Credits to
Supplemental
Retirement Savings
Plan
Charitable
Award
Programs
Michael Williams . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,350 — $ 8,950
David Hisey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,250 — 3,700
David Johnson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,700 $ 64,500 —
David Benson. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,250 — 10,000
Terence Edwards . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,600 30,339 4,500
Timothy Mayopoulos . . . . . . . . . . . . . . . . . . . . . . . . . 19,600 48,708 20,000
221