Fannie Mae Board Establishes 2007 Compensation for President and Chief Executive...
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Fannie Mae Board Establishes 2007 Compensation for President and Chief Executive Officer Daniel H. Mudd WASHINGTON, Jan. 30 /PRNewswire-FirstCall/ -- The Board of Directors of Fannie Mae (NYSE: FNM) voted to establish the 2007 performance bonus and long- term incentive award for President and Chief Executive Officer Daniel H. Mudd. The amounts established for Mr. Mudd's 2007 compensation are as follows: Total of Base 2007 Long-Term Salary, Bonus and 2007 and 2008 2007 Bonus Incentive Award Long-Term Base Salary* (Paid in 2008) (Granted in 2008) Incentive Award $990,000 $2,227,500 $9,000,000 $12,217,500 * Mr. Mudd's base salary was previously established and was disclosed by the company in a Form 8-K filing with the Securities and Exchange Commission on January 26, 2007. For 2006, Mr. Mudd received a bonus of $3,500,000 and a long-term incentive award of $9,999,947. His total salary, bonus and long-term incentive compensation for 2006 was $14,449,947. The company said that further details, including a "Summary Compensation Table" in accordance with SEC rules, as well as a discussion of senior executives' 2007 salaries, bonuses and overall compensation will be provided in its upcoming proxy statement, which will be issued prior to the Fannie Mae annual meeting currently scheduled for Spring, 2008. Fannie Mae is a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. Our job is to help those who house America. SOURCE Fannie Mae Brian A. Faith of Fannie Mae, +1-202-752-6720
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