Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 352

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 352
---
 made changes to both the companies included in the Comparator Group and the methodology for benchmarking executive compensation. These changes were effective beginning with the process for evaluating 2024 Target TDC. 

The Comparator Group used for benchmarking executive compensation consists of the following companies:

Primary Peer Group

nAmerican International Group, Inc.nDiscover Financial ServicesnPNC Financial Services Group, Inc.nAlly Financial Inc.nFannie MaenPrincipal Financial Group (new)nAmerican Express CompanynFifth Third BancorpnPrudential Financial, Inc.nThe Bank of New York Mellon CorporationnThe Hartford Financial Services Group, Inc.nState Street CorporationnCapital One Financial CorporationnKeyCorpnSynchrony FinancialnChubb (new)nMetLife, Inc.nTruist Financial CorporationnCitizens Financial Group, Inc.nNorthern Trust CorporationnU.S. Bancorp

Secondary Peer Group

nBank of America CorporationnJPMorgan Chase & Co  nCitigroup Inc.nWells Fargo & Company  

The benchmarking approach for executive compensation includes the following:

n    Establish Target TDC recommendations between the 25th and 50th percentiles of the compensation data reported by companies in the Comparator Group. 

n    For the roles of CFO, Chief Operating Officer (if we have one), and President, a 20% discount is applied to the compensation data reported by companies in the Comparator Group.

n    The Secondary Peer Group is used in addition to the Primary Peer Group if the Primary Peer Group has insufficient data. In such cases, only data from mortgage or real estate divisions in the Secondary Peer Group is used unless an exception is granted.  

n    If insufficient data is available from the Primary and Secondary Peer Groups, FHFA may grant an exception to include market data from other similar companies. 

Establishing Target TDC

The CHC Committee developed its 2024 Target TDC recommendations for the eligible NEOs by reviewing data from the Comparator Group using the aforementioned benchmarking approach.

FREDDIE MAC  |  2024 Form 10-K239

Executive CompensationCompensation Discussion and Analysis

2024 Target TDC

The following table sets forth the components of 2024 Target TDC for each of our eligible NEOs:

Table 61 - 2024 Target TDC 

2024 Target TDCNamed Executive Officer(1)BaseSalary RateFixedDeferred SalaryAt-RiskDeferred SalaryTarget TDCMichael T. Hutchins(2)$600,000 $1,920