SEC Info - Federal National Mortgage Association Fannie Mae - ‘10-K’ for 12/31/09

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Federal National Mortgage Association Fannie Mae – ‘10-K’ for 12/31/09 – ‘XML.R21’

On: Friday, 2/26/10, at 4:48pm ET · For: 12/31/09 · Accession #: 950123-10-18235 · File #: 1-34140

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/26/10  Fed’l Nat’l Mtge Assoc Fannie Mae 10-K       12/31/09   59:12M                                    Donnelley … Solutions/FA

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   4.53M 
 2: EX-4.10     Instrument Defining the Rights of Security Holders  HTML     74K 
 3: EX-4.11     Instrument Defining the Rights of Security Holders  HTML     50K 
 5: EX-10.10    Material Contract                                   HTML     37K 
 6: EX-10.23    Material Contract                                   HTML     17K 
 7: EX-10.33    Material Contract                                   HTML     23K 
 8: EX-10.37    Material Contract                                   HTML     22K 
 9: EX-10.44    Material Contract                                   HTML     39K 
 4: EX-10.9     Material Contract                                   HTML     35K 
16: EX-99.1     Miscellaneous Exhibit                               HTML    211K 
17: EX-99.3     Miscellaneous Exhibit                               HTML    121K 
18: EX-99.5     Miscellaneous Exhibit                               HTML    110K 
10: EX-12.1     Statement re: Computation of Ratios                 HTML     29K 
11: EX-12.2     Statement re: Computation of Ratios                 HTML     30K 
12: EX-31.1     Certification -- §302 - SOA'02                      HTML     23K 
13: EX-31.2     Certification -- §302 - SOA'02                      HTML     23K 
14: EX-32.1     Certification -- §906 - SOA'02                      HTML     19K 
15: EX-32.2     Certification -- §906 - SOA'02                      HTML     19K 
49: XML         IDEA XML File -- Definitions and References          XML    150K 
55: XML         IDEA XML File -- Filing Summary                      XML     88K 
53: XML.R1      Consolidated Balance Sheets                          XML    344K 
54: XML.R2      Consolidated Balance Sheets (Parentheticals)         XML    167K 
36: XML.R3      Consolidated Statements of Operations                XML    388K 
41: XML.R4      Consolidated Statements of Operations                XML     51K 
                (Parentheticals)                                                 
47: XML.R5      Consolidated Statements of Cash Flows                XML    572K 
46: XML.R6      Consolidated Statements of Cash Flows                XML     51K 
                (Parenthenticals)                                                
58: XML.R7      Consolidated Statements of Changes in                XML   1.54M 
                Stockholders' Equity (Deficit)                                   
30: XML.R8      Consolidated Statements of Changes in                XML     97K 
                Stockholders' Equity (Deficit) (Parentheticals)                  
45: XML.R9      Summary of Significant Accounting Policies           XML    198K 
28: XML.R10     Consolidations                                       XML     79K 
27: XML.R11     Mortgage Loans                                       XML    108K 
35: XML.R12     Allowance for Loan Losses and Reserve for Guaranty   XML     50K 
                Losses                                                           
51: XML.R13     Investments in Securities                            XML    203K 
37: XML.R14     Portfolio Securitizations                            XML    104K 
38: XML.R15     Financial Guarantees and Master Servicing            XML    150K 
43: XML.R16     Acquired Propery Net                                 XML     53K 
59: XML.R17     Short-term Borrowings and Long-term Debt             XML    102K 
33: XML.R18     Derivative Instruments                               XML    159K 
25: XML.R19     Income Taxes                                         XML     74K 
40: XML.R20     Earnings (Loss) Per Share                            XML     48K 
50: XML.R21     Stock-Based Compensation Plans                       XML     83K 
31: XML.R22     Employee Retirement Benefits                         XML    225K 
48: XML.R23     Segment Reporting                                    XML    120K 
39: XML.R24     Stockholders' Equity (Deficit)                       XML    113K 
57: XML.R25     Regulatory Capital Requirements                      XML     49K 
52: XML.R26     Concentrations of Credit Risk                        XML     86K 
42: XML.R27     Fair Value of Financial Instruments                  XML    344K 
44: XML.R28     Commitments and Contingencies                        XML     59K 
26: XML.R29     Selected Quarterly Financial Information             XML    156K 
                (Unaudited)                                                      
29: XML.R30     Subsequent Events                                    XML     33K 
32: XML.R31     Entity information                                   XML     74K 
34: XML.R32     Document information                                 XML     43K 
56: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    190K 
19: EX-101.INS  XBRL Instance -- fnm-20091231                        XML   2.31M 
21: EX-101.CAL  XBRL Calculations -- fnm-20091231_cal                XML    206K 
24: EX-101.DEF  XBRL Definitions -- fnm-20091231_def                 XML     94K 
22: EX-101.LAB  XBRL Labels -- fnm-20091231_lab                      XML    868K 
23: EX-101.PRE  XBRL Presentations -- fnm-20091231_pre               XML    477K 
20: EX-101.SCH  XBRL Schema -- fnm-20091231                          XSD    106K

‘XML.R21’ — Stock-Based Compensation Plans

This Financial Report is an XBRL XML File.

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<div style="font-size:12pt">13. Stock-Based Compensation We have two stock-based compensation plans, the 1985 Employee Stock Purchase Plan and the Stock Compensation Plan of 2003. Under these plans, we previously offered various stock-based compensation programs where we provided employees an opportunity to purchase Fannie Mae common stock or periodically made stock awards to certain employees in the form of nonqualified stock options, performance share awards, restricted stock awards, restricted stock units or stock bonus awards. Under the senior preferred stock purchase agreement with Treasury, we may not issue Fannie Mae equity securities without the consent of Treasury, other than the senior preferred stock, the Treasury warrant, common stock issuable upon exercise of the warrant, or as required by the terms of any binding agreement in effect on the date of the senior preferred stock purchase agreement. As such, we currently do not intend to grant equity compensation to employees under these plans. In connection with our stock-based compensation plans for shares or awards issued prior to conservatorship, we recorded compensation expense of $52 million, $97 million and $118 million for 2009, 2008 and 2007, respectively. Stock-Based Compensation Plans The 1985 Employee Stock Purchase Plan (the “1985 Purchase Plan”) provided employees an opportunity to purchase shares of Fannie Mae common stock at a discount to the fair market value of the stock during specified purchase periods. Our Board of Directors sets the terms and conditions of offerings under the 1985 Purchase Plan, including the number of available shares and the size of the discount. There were no offerings under the 1985 Purchase Plan in any year presented. The aggregate maximum number of shares of common stock available for employee purchase is 50 million. Since inception, we have made available 38,039,742 shares for purchase by employees under this plan. The Stock Compensation Plan of 2003 (the “2003 Plan”) is the successor to the Stock Compensation Plan of 1993 (the “1993 Plan”). The 2003 Plan enabled us to make stock awards in various forms and combinations, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance share awards and stock bonus awards. The aggregate maximum number of shares of common stock available for award to employees and non-management directors under the 2003 Plan is 40 million. Including the effects of share cancellations, we have awarded 11,252,405 shares under this plan since its inception. The shares awarded under the 2003 Plan were authorized and unissued shares, treasury shares or shares purchased on the open market. Restricted Stock Program Under the 1993 and 2003 Plans, prior to conservatorship, employees could have received restricted stock awards (“RSAs”) and, under the 2003 Plan, employees may have received restricted stock units (“RSUs”). The type of award employees received under the 2003 Plan generally depended upon years of service and age at the time of grant. Each RSU represented the right to receive a share of common stock at the time of vesting. As a result, RSUs are generally similar to restricted stock, except that RSUs do not confer voting rights on their holders. By contrast, holders of the RSAs do have voting rights. Vesting of the grants is based on continued employment. In general, grants vest in equal annual installments over three or four years beginning on the first anniversary of the date of grant. Based on the fair value of our common stock on the respective grant dates, the fair value of restricted stock that vested in 2009, 2008 and 2007 was $83 million, $103 million, and $91 million, respectively. The compensation expense related to restricted stock is based on the grant date fair value of our common stock. We recorded compensation expense for these restricted stock grants of $52 million, $97 million, and $108 million for 2009, 2008 and 2007, respectively. The following table displays restricted stock activity for 2009, 2008 and 2007.<table style="border-collapse: collapse; margin-top: 20px;"><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left"> </td><td height="17" width="7" align="left"> </td><td width="476" align="center" colspan="14" style="border-bottom: 1px solid #000000;" height="17">For the Year Ended December 31,</td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left"> </td><td height="17" width="7" align="left"> </td><td width="151" align="center" colspan="4" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2009 </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="10"> </td><td width="153" align="center" colspan="4" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2008 </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="10"> </td><td width="152" align="center" colspan="4" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2007 </td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left"> </td><td height="17" width="7" align="left"> </td><td height="17" style="border-top: 1px solid #000000;" align="center" width="64"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="10"> </td><td width="77" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17">Weighted</td><td height="17" width="10" align="center"> </td><td height="17" style="border-top: 1px solid #000000;" align="center" width="64"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="10"> </td><td width="79" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17">Weighted</td><td height="17" width="10" align="left"> </td><td height="17" style="border-top: 1px solid #000000;" align="center" width="64"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="10"> </td><td width="78" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17">Weighted</td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left"> </td><td height="17" width="7" align="left"> </td><td height="17" width="64" align="center"> </td><td height="17" width="10" align="center"> </td><td width="77" align="center" height="17" colspan="2">Average Fair</td><td height="17" width="10" align="center"> </td><td height="17" width="64" align="center"> </td><td height="17" width="10" align="center"> </td><td width="79" align="center" height="17" colspan="2">Average Fair</td><td height="17" width="10" align="center"> </td><td height="17" width="64" align="center"> </td><td height="17" width="10" align="center"> </td><td width="78" align="center" height="17" colspan="2">Average Fair</td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left"> </td><td height="17" width="7" align="left"> </td><td height="17" width="64" align="center">Number of</td><td height="17" width="10" align="center"> </td><td width="77" align="center" height="17" colspan="2">Value at</td><td height="17" width="10" align="center"> </td><td height="17" width="64" align="center">Number of</td><td height="17" width="10" align="left"> </td><td width="79" align="center" height="17" colspan="2">Value at</td><td height="17" width="10" align="center"> </td><td height="17" width="64" align="center">Number of</td><td height="17" width="10" align="left"> </td><td width="78" align="center" height="17" colspan="2">Value at</td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left"> </td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="center" width="64">Shares</td><td height="17" width="10" align="center"> </td><td width="77" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Grant Date</td><td height="17" width="10" align="center"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="center" width="64">Shares</td><td height="17" width="10" align="center"> </td><td width="79" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Grant Date</td><td height="17" width="10" align="center"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="center" width="64">Shares</td><td height="17" width="10" align="center"> </td><td width="78" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Grant Date</td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left"> </td><td width="483" align="center" height="17" colspan="15">(Shares in thousands)</td></tr><tr><td width="163" align="left" height="17" colspan="2">Nonvested as of January 1</td><td height="17" width="7" align="left"> </td><td height="17" width="64" align="right"> 5,934 </td><td height="17" width="10" align="left"> </td><td height="17" width="13" align="left">$</td><td height="17" width="64" align="right"> 41.19 </td><td height="17" width="10" align="left"> </td><td height="17" width="64" align="right"> 4,375 </td><td height="17" width="10" align="left"> </td><td height="17" width="15" align="left">$</td><td height="17" width="64" align="right"> 57.67 </td><td height="17" width="10" align="left"> </td><td height="17" width="64" align="right"> 3,399 </td><td height="17" width="10" align="left"> </td><td height="17" width="14" align="left">$</td><td height="17" width="64" align="right"> 60.15 </td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left">Granted</td><td height="17" width="7" align="left"> </td><td height="17" width="64" align="right"> - </td><td height="17" width="10" align="left"> </td><td height="17" width="13" align="left"> </td><td height="17" width="64" align="right"> - </td><td height="17" width="10" align="left"> </td><td height="17" width="64" align="right"> 4,518 </td><td height="17" width="10" align="left"> </td><td height="17" width="15" align="left"> </td><td height="17" width="64" align="right"> 31.96 </td><td height="17" width="10" align="left"> </td><td height="17" width="64" align="right"> 2,886 </td><td height="17" width="10" align="left"> </td><td height="17" width="14" align="left"> </td><td height="17" width="64" align="right"> 56.95 </td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left">Vested</td><td height="17" width="7" align="left"> </td><td height="17" width="64" align="right"> (1,858)</td><td height="17" width="10" align="left"> </td><td height="17" width="13" align="left"> </td><td height="17" width="64" align="right"> 44.78 </td><td height="17" width="10" align="left"> </td><td height="17" width="64" align="right"> (1,768)</td><td height="17" width="10" align="left"> </td><td height="17" width="15" align="left"> </td><td height="17" width="64" align="right"> 58.25 </td><td height="17" width="10" align="left"> </td><td height="17" width="64" align="right"> (1,457)</td><td height="17" width="10" align="left"> </td><td height="17" width="14" align="left"> </td><td height="17" width="64" align="right"> 62.25 </td></tr><tr><td height="17" width="21" align="left"> </td><td height="17" width="142" align="left">Forfeited</td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="64"> (1,203)</td><td height="17" width="10" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="13"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="64"> 39.61 </td><td height="17" width="10" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="64"> (1,191)</td><td height="17" width="10" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="15"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="64"> 41.58 </td><td height="17" width="10" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="64"> (453)</td><td height="17" width="10" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="14"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="64"> 57.84 </td></tr><tr><td width="163" align="left" height="18" colspan="2">Nonvested as of December 31</td><td height="18" width="7" align="right"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="64"> 2,873 </td><td height="18" width="10" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="13">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="64"> 39.53 </td><td height="18" width="10" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="64"> 5,934 </td><td height="18" width="10" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="15">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="64"> 41.19 </td><td height="18" width="10" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="64"> 4,375 </td><td height="18" width="10" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="14">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="64"> 57.67 </td></tr></table>The following table displays information related to unvested restricted stock as of December 31, 2009, 2008 and 2007. <table style="border-collapse: collapse; margin-top: 20px;"><tr><td height="17" width="331" align="left"> </td><td height="17" width="20" align="left"> </td><td width="385" align="center" colspan="11" style="border-bottom: 1px solid #000000;" height="17">For the Year Ended December 31,</td></tr><tr><td height="17" width="331" align="left"> </td><td height="17" width="20" align="left"> </td><td width="115" align="center" colspan="3" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2009 </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="20"> </td><td width="115" align="center" colspan="3" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2008 </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="20"> </td><td width="115" align="center" colspan="3" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2007 </td></tr><tr><td height="17" width="331" align="left"> </td><td height="17" width="20" align="left"> </td><td width="385" align="center" height="17" colspan="11">(Dollars in millions)</td></tr><tr><td height="17" width="331" align="left">Unrecognized compensation cost</td><td height="17" width="20" align="left"> </td><td height="17" width="16" align="left">$</td><td height="17" width="55" align="right"> 56 </td><td height="17" width="20" align="left"> </td><td height="17" width="16" align="left">$</td><td height="17" width="55" align="right">148 </td><td height="17" width="20" align="left"> </td><td height="17" width="16" align="left">$</td><td height="17" width="55" align="right">148 </td></tr><tr><td height="17" width="331" align="left">Expected weighted-average life of unvested restricted stock</td><td height="17" width="20" align="left"> </td><td height="17" width="16" align="left"> </td><td height="17" width="55" align="right"> 1.6 years</td><td height="17" width="20" align="left"> </td><td height="17" width="16" align="left"> </td><td height="17" width="55" align="right">2.4 years</td><td height="17" width="20" align="left"> </td><td height="17" width="16" align="left"> </td><td height="17" width="55" align="right">2.4 years</td></tr></table>Nonqualified Stock Options Under the 2003 Plan and prior to conservatorship, we could have granted stock options to eligible employees and non-management members of the Board of Directors. Generally, employees and non-management directors may not exercise their options until at least one year subsequent to the grant date, and the options expire ten years from the date of grant. Typically, options vest 25% per year beginning on the first anniversary of the date of grant. The exercise price of each option is equal to the fair market value of our common stock on the date we grant the option. The following table displays nonqualified stock option activity for 2009, 2008 and 2007. <table style="border-collapse: collapse; margin-top: 20px;"><tr><td height="17" width="12" align="left"> </td><td height="17" width="138" align="left"> </td><td height="17" width="4" align="left"> </td><td width="512" align="center" colspan="23" style="border-bottom: 1px solid #000000;" height="17">For the Year Ended December 31,</td></tr><tr><td height="17" width="12" align="left"> </td><td height="17" width="138" align="left"> </td><td height="17" width="4" align="left"> </td><td width="166" align="center" colspan="7" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2009 </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="7"> </td><td width="166" align="center" colspan="7" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2008 </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="7"> </td><td width="166" align="center" colspan="7" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" height="17">2007 </td></tr><tr><td height="17" width="12" align="left"> </td><td height="17" width="138" align="left"> </td><td height="17" width="4" align="left"> </td><td height="17" style="border-top: 1px solid #000000;" align="center" width="46"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="7"> </td><td width="53" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="7"> </td><td width="53" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17">Weighted-</td><td height="17" width="7" align="center"> </td><td height="17" style="border-top: 1px solid #000000;" align="center" width="46"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="7"> </td><td width="53" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="7"> </td><td width="53" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17">Weighted-</td><td height="17" width="7" align="left"> </td><td height="17" style="border-top: 1px solid #000000;" align="center" width="46"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="7"> </td><td width="53" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17"> </td><td height="17" style="border-top: 1px solid #000000;" align="left" width="7"> </td><td width="53" align="center" colspan="2" style="border-top: 1px solid #000000;" height="17">Weighted-</td></tr><tr><td height="17" width="12" align="left"> </td><td height="17" width="138" align="left"> </td><td height="17" width="4" align="left"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Weighted-</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Average</td><td height="17" width="7" align="center"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Weighted-</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Average</td><td height="17" width="7" align="center"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Weighted-</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Average</td></tr><tr><td height="17" width="12" align="left"> </td><td height="17" width="138" align="left"> </td><td height="17" width="4" align="left"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="left"> </td><td width="53" align="center" height="17" colspan="2">Average</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Fair</td><td height="17" width="7" align="center"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="left"> </td><td width="53" align="center" height="17" colspan="2">Average</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Fair</td><td height="17" width="7" align="center"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="left"> </td><td width="53" align="center" height="17" colspan="2">Average</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Fair</td></tr><tr><td height="17" width="12" align="left"> </td><td height="17" width="138" align="left"> </td><td height="17" width="4" align="left"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="left"> </td><td width="53" align="center" height="17" colspan="2">Exercise</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Value at</td><td height="17" width="7" align="center"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="left"> </td><td width="53" align="center" height="17" colspan="2">Exercise</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Value at</td><td height="17" width="7" align="center"> </td><td height="17" width="46" align="center"> </td><td height="17" width="7" align="left"> </td><td width="53" align="center" height="17" colspan="2">Exercise</td><td height="17" width="7" align="center"> </td><td width="53" align="center" height="17" colspan="2">Value at</td></tr><tr><td height="17" width="12" align="left"> </td><td height="17" width="138" align="left"> </td><td height="17" width="4" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="center" width="46">Options</td><td height="17" width="7" align="center"> </td><td width="53" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Price</td><td height="17" width="7" align="center"> </td><td width="53" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Grant Date</td><td height="17" width="7" align="center"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="center" width="46">Options</td><td height="17" width="7" align="center"> </td><td width="53" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Price</td><td height="17" width="7" align="center"> </td><td width="53" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Grant Date</td><td height="17" width="7" align="center"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="center" width="46">Options</td><td height="17" width="7" align="center"> </td><td width="53" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Price</td><td height="17" width="7" align="center"> </td><td width="53" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="17">Grant Date</td></tr><tr><td height="17" width="12" align="left"> </td><td height="17" width="138" align="left"> </td><td width="516" align="center" height="17" colspan="24">(Shares in thousands)</td></tr><tr><td width="150" align="left" height="17" colspan="2">Beginning balance, January 1</td><td height="17" width="4" align="left"> </td><td height="17" width="46" align="right"> 12,293 </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left">$</td><td height="17" width="44" align="right"> 72.12 </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left">$</td><td height="17" width="44" align="right"> 23.62 </td><td height="17" width="7" align="left"> </td><td height="17" width="46" align="right"> 17,031 </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left">$</td><td height="17" width="44" align="right"> 71.90 </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left">$</td><td height="17" width="44" align="right"> 23.49 </td><td height="17" width="7" align="left"> </td><td height="17" width="46" align="right"> 19,749 </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left">$</td><td height="17" width="44" align="right"> 70.44 </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left">$</td><td height="17" width="44" align="right"> 22.97 </td></tr><tr><td width="150" align="left" height="17" colspan="2">Granted</td><td height="17" width="4" align="left"> </td><td height="17" width="46" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="46" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="46" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td></tr><tr><td width="150" align="left" height="17" colspan="2">Exercised</td><td height="17" width="4" align="left"> </td><td height="17" width="46" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="46" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> - </td><td height="17" width="7" align="left"> </td><td height="17" width="46" align="right"> (999)</td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> 51.17 </td><td height="17" width="7" align="left"> </td><td height="17" width="9" align="left"> </td><td height="17" width="44" align="right"> 15.95 </td></tr><tr><td width="150" align="left" height="17" colspan="2">Forfeited and/or expired</td><td height="17" width="4" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="46"> (3,534)</td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="9"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="44"> 71.45 </td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="9"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="44"> 23.66 </td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="46"> (4,738)</td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="9"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="44"> 71.19 </td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="9"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="44"> 23.13 </td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="46"> (1,719)</td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="9"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="44"> 67.27 </td><td height="17" width="7" align="left"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="left" width="9"> </td><td height="17" style="border-bottom: 1px solid #000000;" align="right" width="44"> 21.79 </td></tr><tr><td width="150" align="left" height="18" colspan="2">Ending balance, December 31</td><td height="18" width="4" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="46"> 8,759 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="44"> 72.39 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="44"> 23.60 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="46"> 12,293 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="44"> 72.12 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="44"> 23.62 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="46"> 17,031 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="44"> 71.90 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-top: 1px solid #000000;border-bottom: 3px double #000000;" align="right" width="44"> 23.49 </td></tr><tr><td width="150" align="left" height="19" colspan="2">Options exercisable, December 31</td><td height="19" width="4" align="right"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="46"> 8,759 </td><td height="19" width="7" align="left"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="44"> 72.39 </td><td height="19" width="7" align="left"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="44"> 23.60 </td><td height="19" width="7" align="left"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="46"> 12,291 </td><td height="19" width="7" align="left"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="44"> 72.12 </td><td height="19" width="7" align="left"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="44"> 23.62 </td><td height="19" width="7" align="left"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="46"> 16,726 </td><td height="19" width="7" align="left"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="44"> 71.79 </td><td height="19" width="7" align="left"> </td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="19" style="border-top: 3px double #000000;border-bottom: 3px double #000000;" align="right" width="44"> 23.54 </td></tr><tr><td width="150" align="left" height="18" colspan="2">Options vested or expected to</td><td height="18" width="4" align="right"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="46"> </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="9"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="44"> </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="9"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="44"> </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="46"> </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="9"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="44"> </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="9"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="44"> </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="46"> </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="9"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="44"> </td><td height="18" width="7" align="left"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="9"> </td><td height="18" style="border-top: 3px double #000000;" align="left" width="44"> </td></tr><tr><td height="18" width="12" align="left"> </td><td height="18" width="138" align="left">vest as of December 31(1)</td><td height="18" width="4" align="right"> </td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="46"> 8,759 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="44"> 72.39 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="44"> 23.60 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="46"> 12,293 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="44"> 72.12 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="44"> 23.62 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="46"> 17,030 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="44"> 71.90 </td><td height="18" width="7" align="left"> </td><td height="18" style="border-bottom: 3px double #000000;" align="left" width="9">$</td><td height="18" style="border-bottom: 3px double #000000;" align="right" width="44"> 23.50 </td></tr></table><table style="border-collapse: collapse; margin-top: 20px;"><tr><td width="635" align="left" height="6" colspan="3">__________</td></tr><tr><td height="3" width="26" align="left"> </td><td height="3" width="545" align="left"> </td></tr><tr><td height="17" width="26" align="left"> (1)</td><td height="17" width="545" align="left">Includes vested and unvested shares after applying an estimated forfeiture rate.</td></tr><tr><td height="8" width="26" align="left"> </td><td height="8" width="545" align="left"> </td></tr></table>Performance Share Program Under the 1993 and 2003 Plans, prior to conservatorship, Senior Vice Presidents and above could have been awarded performance shares. Under the plans, the terms and conditions of the awards were established by the Compensation Committee for the 2003 Plan and by the non-management members of the Board of Directors for the 1993 Plan. Performance shares entitled recipients to receive shares of common stock if the goals for the multi-year performance cycle were attained. At the end of the performance period, we typically distributed common stock in two or three installments over a period not longer than three years as long as the participant remained employed by Fannie Mae. In 2008 and 2007, we issued 125,000 and 161,000 shares, respectively, related to previous grants. No shares were issued in 2009. </div>

</NonNumbericText>

<NonNumericTextHeader> 13. Stock-Based Compensation We have two stock-based compensation plans, the 1985 Employee Stock Purchase Plan and the Stock Compensation Plan of 2003. Under </NonNumericTextHeader>

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<HasScenarios> false </HasScenarios>

<MonetaryRoundingLevel> UnKnown </MonetaryRoundingLevel>

<SharesRoundingLevel> UnKnown </SharesRoundingLevel>

<PerShareRoundingLevel> UnKnown </PerShareRoundingLevel>

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4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/15/24  Fed’l Nat’l Mtge Assoc Fannie Mae 10-K       12/31/23  113:57M
 2/14/23  Fed’l Nat’l Mtge Assoc Fannie Mae 10-K       12/31/22  108:39M
 2/15/22  Fed’l Nat’l Mtge Assoc Fannie Mae 10-K       12/31/21  102:41M
 2/12/21  Fed’l Nat’l Mtge Assoc Fannie Mae 10-K       12/31/20  121:49M

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Filing Submission 0000950123-10-018235 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Federal National Mortgage Association Fannie Mae – ‘10-K’ for 12/31/09 – ‘XML.R21’

On: Friday, 2/26/10, at 4:48pm ET · For: 12/31/09 · Accession #: 950123-10-18235 · File #: 1-34140

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘XML.R21’ — Stock-Based Compensation Plans

This Financial Report is an XBRL XML File.

4 Subsequent Filings that Reference this Filing

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents