Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 358

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 358
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  |  2024 Form 10-K243

Executive CompensationCompensation Discussion and Analysis

Assessment of 2024 Individual Performance

Half of each eligible NEO’s 2024 At-Risk Deferred Salary was subject to reduction based on individual performance in 2024, as determined by the CHC Committee with FHFA’s approval. After assessing the company's performance against the 2024 Corporate Scorecard, the CHC Committee assessed individual performance of each eligible NEO, taking into consideration input from Ms. Reid. Because certain individual performance objectives for eligible NEOs were either Corporate Scorecard goals or directly supported their achievement, performance against the Corporate Scorecard was one of the factors the CHC Committee used to determine the individual performance of the NEOs. FHFA reviewed and approved the compensation associated with these determinations.

Each eligible NEO's individual performance assessment and the funding level for the individual performance-based at-risk deferred salary for 2024 is discussed below.

Michael T. Hutchins, PresidentPerformance HighlightsnProvided outstanding service as interim CEO for half of the year while also fulfilling responsibilities as President, leading Freddie Mac’s four major divisions: Single-Family, Multifamily, Investments & Capital Markets, and EO&T. Ensured effective transition of CEO responsibilities to new CEO. nProvided strong leadership in all aspects of the company during challenging market conditions, including: making progress on key commitments of our affordable housing goals; advancing the company’s priorities on the company's housing plans; strengthening the focus on modernizing the company’s technology assets; and exploring opportunities to responsibly adopt generative artificial intelligence.nPartnered with other leaders to advance focus on risk management, continuously improve operations, increase efficiency and enhance productivity, and drive innovation to meet evolving business needs. nReorganized resources to improve focus in key areas and provided opportunities for top / high potential talent to grow with new or additional responsibilities.At-Risk Deferred Salary (Corporate Scorecard/Individual) Funding DecisionThe CHC Committee determined that Mr. Hutchins should receive 100% of his At-Risk Deferred Salary that was subject to adjustment based on his individual performance after taking into account the company’s performance against the Corporate Scorecard.

James M. Whitlinger, EVP & CFOPerformance HighlightsnServed as Interim CFO and member of the Senior Operating Committee of the company for the second half of the year while also fulfilling responsibilities as SVP - Single-Family CFO.nProvided strong leadership to the Finance Division and reorganized resources to improve efficiency and collaboration with a continued focus on the