Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 350

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 350
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, Regulatory, and Conservator Restrictions on Executive Compensation limit our ability to make changes to the EMCP and limit the amount and type of compensation we may pay our executive officers.

CEO Compensation

Compensation in 2024 for Ms. Reid and Mr. DeVito consisted of an annual Base Salary level of $600,000, in compliance with the Equity in Government Compensation Act of 2015. Due to statutory limitations on compensation for the CEO, they do not participate in the EMCP and, therefore, did not receive any compensation subject to either corporate or individual performance in 2024. Ms. Reid and Mr. DeVito were eligible to participate in all employee benefit plans offered to Freddie Mac's other senior executives under the terms of those plans. See Executive Compensation - 2024 Compensation Information For NEOs - Summary Compensation Table for additional information.

Elements of Target TDC

Compensation under the EMCP in 2024 consisted of the following elements: 

Base SalaryDeferred SalarynThe amount earned in each quarter, including interest, is paid (1) in the corresponding quarter in the first year following the performance year for Fixed Deferred Salary and (2) in the corresponding quarter in the second year following the performance year for At-Risk Deferred SalaryFixed Deferred SalaryAt-Risk Deferred SalarynTo encourage achievement of conservatorship, corporate, and individual performance goalsConservatorship Scorecard and Assessment CriteriaCorporate Scorecard / IndividualnCannot exceed $600,000 without approval from FHFAnTo encourage executive retentionnSubject to reduction based on Conservatorship Scorecard performance and the Assessment CriterianSubject to reduction based on performance against both the Corporate Scorecard and individual objectivesnEqual to total Deferred Salary less the At-Risk portion

As in past years, 30% of Target TDC is At-Risk Deferred Salary, half of which is subject to reduction based on FHFA's assessment of the company's performance against goals established by FHFA. The other half is subject to reduction based on a combination of the company's performance against goals established by the Board for the performance year and individual performance. 

The objectives against which 2024 corporate performance was measured, together with the assessment of actual performance against those objectives and the Assessment Criteria used by FHFA, are described in Executive Compensation - CD&A - Determination of 2024 At-Risk Deferred Salary - At-Risk Deferred Salary Based on Conservatorship Scorecard Performance and Executive Compensation - CD&A - Determination of 2024 At-Risk Deferred Salary - At-R