Freddie Mac 2015 Annual Report Download - page 377

Executive Compensation 2015 Compensation Information for NEOs
Freddie Mac 2015 Form 10-K 375
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards(1)
Name At-Risk Deferred Salary Award Threshold Target/Maximum
Mr. Layton(2) Conservatorship Scorecard $ — $ 239,674
Corporate Scorecard/Individual — 239,674
Total — 479,348
Mr. Mackey Conservatorship Scorecard — 450,000
Corporate Scorecard/Individual — 450,000
Total — 900,000
Mr. Hutchins Conservatorship Scorecard — 375,000
Corporate Scorecard/Individual — 375,000
Total — 750,000
Mr. Lowman Conservatorship Scorecard — 450,000
Corporate Scorecard/Individual — 450,000
Total — 900,000
Mr. McDavid Conservatorship Scorecard — 390,000
Corporate Scorecard/Individual — 390,000
Total — 780,000
(1) The amounts reported reflect At-Risk Deferred Salary granted in 2015 which is subject to reduction based on (i) corporate
performance against the Conservatorship Scorecard; and (ii) an officer's individual performance and the company’s
performance against the Corporate Scorecard goals. The amount of At-Risk Deferred Salary actually earned can range from
0% of target (reported in the Threshold column) to a maximum of 100% of target (reported in the Target/Maximum column).
Actual At-Risk Deferred Salary amounts earned during 2015 are reported in the “Non-Equity Incentive Plan Compensation”
column of “Summary Compensation Table.”
(2) Mr. Layton was only eligible to receive Deferred Salary between July 1, 2015 and November 24, 2015.
OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END
None of the NEOs had unexercised options or unvested RSUs as of December 31, 2015.
OPTION EXERCISES AND STOCK VESTED
None of the NEOs exercised options or had RSUs vest during 2015.
PENSION BENEFITS
Freddie Mac previously offered a Pension Plan, which was a tax-qualified, defined benefit pension plan,
covering substantially all employees hired before 2012 who had attained age 21 and completed one year
of service with us. In October, 2013, FHFA directed us to cease accruals under the Pension Plan effective
December 31, 2013 and to commence terminating the Pension Plan. None of the NEOs was pension-
eligible prior to the termination of the Pension Plan. Accordingly, a Pension Benefits table is not
presented.
NONQUALIFIED DEFERRED COMPENSATION
Non-qualified deferred compensation consists of the SERP Benefit. The SERP is an unfunded,
nonqualified defined contribution plan designed to provide participants with the full amount of benefits to
which they would have been entitled under the Thrift/401(k) Plan if that plan was not subject to certain
dollar limits under the Internal Revenue Code. The SERP Benefit equals the amount of the employer
matching contributions and 2.5% contributions for each NEO that would have been made to the Thrift/401
(k) Plan during the year, based upon the participant's eligible compensation, without application of those
limits, less the amount of the matching contributions and 2.5% contributions annually made to the