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by CareyBot

Fannie Mae set the 2006 target bonus of Chief Executive Daniel H. Mudd at 2.75 times his salary, or $2.61 million, and added a new performance goal for him, the company said in a filing with the Securities and Exchange Commission Friday. The new goal will be "to optimize the company's business model and generate shareholder value," according to the mortgage giant's SEC filing. "The goals for 2006 are similar to the company's goals for 2005 with the addition in 2006 of the goal to optimize the company's business model and generate shareholder value. Prior to 2005, performance goals for the Annual Incentive Plan were tied to growth in earnings per share of Fannie Mae's common stock," the company said in the filing. In 2005, Fannie Mae said Mudd wouldn't get a raise for 2006, but he ...