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FRE > SEC Filings for FRE > Form 8-K on 18-Sep-2009All Recent SEC Filings

Show all filings for FEDERAL HOME LOAN MORTGAGE CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for FEDERAL HOME LOAN MORTGAGE CORP


18-Sep-2009

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 3, 2009, the Board of Directors of Freddie Mac (formally known as the Federal Home Loan Mortgage Corporation), and on September 14, 2009, the Federal Housing Finance Agency, the company's Conservator, approved additional compensation for John A. Koskinen and Robert R. Glauber for their service as Interim Chief Executive Officer and Interim Non-Executive Chairman, respectively, from March 2009 until August 2009. As we previously disclosed, during the period of their service in these interim positions, Messrs. Koskinen and Glauber continued to be compensated at the rate established for their original positions of Non-Executive Chairman and Board member, respectively. The additional compensation is as follows:

(i) Mr. Koskinen will receive an additional $250,685 for his service as Interim Chief Executive Officer, based on a pro rata application of the $900,000 base salary established for our Chief Executive Officer, less the amount of compensation otherwise paid to him for this period.

(ii) Mr. Glauber will receive an additional $49,315 for his service as Interim Non-Executive Chairman, based on a pro rata application of the $290,000 annual retainer established for our Non-Executive Chairman, less the amount of compensation otherwise paid to him for this period.


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