Fannie Mae Reports Executive Changes and Compensation Arrangements
Ticker: FNMAP · Form: 8-K · Filed: Feb 22, 2024 · CIK: 310522
Sentiment: neutral
Topics: corporate-governance, executive-changes, compensation
TL;DR
**Fannie Mae just dropped an 8-K about executive changes and pay, so keep an eye on leadership shifts!**
AI Summary
Fannie Mae filed an 8-K on February 22, 2024, reporting an event on February 17, 2024, concerning the departure or election of directors or officers and their compensatory arrangements. The filing indicates changes in leadership or compensation structures within the Federal National Mortgage Association, a federally chartered corporation based in Washington, DC. This 8-K provides an update on the company's governance and executive compensation, as required by SEC regulations.
Why It Matters
Changes in executive leadership and compensation can signal strategic shifts or financial health, impacting investor confidence and the company's future direction.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of corporate governance changes, not indicating immediate financial distress or major operational risks.
Key Players & Entities
- FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (company) — Registrant
- Fannie Mae (company) — Registrant
- February 17, 2024 (date) — Date of earliest event reported
- February 22, 2024 (date) — Filing date
- Washington, DC (location) — Principal executive offices
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 17, 2024.
What is the full legal name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is "Federal National Mortgage Association".
What is the primary business address of Fannie Mae?
Fannie Mae's primary business address is 1100 15th Street, NW, Washington, DC 20005.
What is the Commission File Number for Fannie Mae?
Fannie Mae's Commission File Number is 0-50231.
What specific items are being reported in this 8-K filing?
This 8-K filing reports on "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers".
Filing Stats: 890 words · 4 min read · ~3 pages · Grade level 12.5 · Accepted 2024-02-22 16:03:29
Key Financial Figures
- $3,750,000 — nual target direct compensation will be $3,750,000, consisting of base salary of $600,000,
- $600,000 — 3,750,000, consisting of base salary of $600,000, fixed deferred salary of $2,025,000 an
- $2,025,000 — y of $600,000, fixed deferred salary of $2,025,000 and at-risk deferred salary of $1,125,0
- $1,125,000 — ,025,000 and at-risk deferred salary of $1,125,000. To compensate him for compensation he
- $1,750,000 — oah was also awarded a sign-on award of $1,750,000, which will be paid in an installment o
- $1,250,000 — which will be paid in an installment of $1,250,000 as soon as practicable after his start
- $500,000 — start date and a second installment of $500,000 as soon as practicable after May 20, 20
Filing Documents
- fnm-20240217.htm (8-K) — 28KB
- 0000310522-24-000188.txt ( ) — 140KB
- fnm-20240217.xsd (EX-101.SCH) — 2KB
- fnm-20240217_lab.xml (EX-101.LAB) — 21KB
- fnm-20240217_pre.xml (EX-101.PRE) — 11KB
- fnm-20240217_htm.xml (XML) — 2KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FEDERAL NATIONAL MORTGAGE ASSOCIATION By /s/ Wells M. Engledow Wells M. Engledow Enterprise Deputy General Counsel—Senior Vice President Date: February 22, 2024 2