Posted on 19/07/08
Freddie Mac CEO Syron paid nearly $19.8-million
Freddie Mac chairman and chief executive officer Richard Syron pocketed nearly $19.8-million (U.S.) in compensation last year, according to a Securities and Exchange Commission filing yesterday, even though the mortgage company's stock lost half its value in 2007. If Mr. Syron stays at the helm of Freddie Mac through the end of next year, he will receive nearly $20-million in stock awards if the board says he has met certain goals. This year, he is guaranteed to get $8.8-million in stock grants regardless of performance. For 2007, Syron received a $1.2-million salary, a $3.45-million bonus, including $1.25-million to remain at the company, and $771,585 in other compensation. He also received stock and options valued at $14.3-million. FRE (NYSE) rose 85 cents to $9.18.
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