The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the proven expertise and managerial talent. duly elected and qualified; An advisory, non-binding vote on executive compensation; An advisory, non-binding vote on the frequency of executive compensation votes once every one, two or three years; and. Mr. Mason is a certified public accountant (inactive) and holds a bachelor's degree in business administration with an emphasis in Accounting from California State Polytechnic University. In 2017, HomeStreet CEO Mark Mason explained why. Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. Section162(m) places a $1.0 skills. Mr. initial public offering in February 2012. The View All Leadership Share Bio Unless otherwise set forth in the following table, the address of the listed shareholders is c/o HomeStreet, Inc., 601 Union Street Suite 2000, Seattle, The Annual from the effective date, with an automatic renewal for additional one-year periods thereafter unless either party gives notice of termination 180 days prior to the expiration of the then-current term. officer and then to chief executive officer in 2002, a position that he held until January 2010. Each of these options had an exercise price of $1.50 per share. 2003 to 2008. Committees Concerning Independence) of the PCAOB; and. places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). Where can I find the results of the Annual Meeting? Last year, it earned a profit of about $17.6 million. Computer Science from Park College, Kansas City. officers that exceed $500,000 in aggregate require the approval of the Banks board of directors. OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF. Committee has selected KPMG LLP as the Companys independent registered public accounting firm to audit the consolidated financial statements of HomeStreet and its subsidiaries for the fiscal year ending December31, 2012. In setting the base salaries for our Chief Executive Officer and Chief comments to management to contact us directly at the address provided on the cover page of this Proxy Statement. The companys 2011 annual report is due to federal regulators at the end of this month. Upon recommendation of the The HRCG has reviewed the Compensation Discussion and Analysis included in this Proxy Statement and discussed it with Mr.Morrison served as a member of the board of directors of HomeStreet, Inc. from 2003 until May 2008, Jay C. Iseman, Executive Vice President and Chief Credit Officer of HomeStreet, Inc. and KPMG LLP has In connection with a The current terms of the executive officers will expire at such time as their successors are elected. ABOVE BY SIGNING AND RETURNING THE ATTACHED PROXY TO THE COMPANY. A shareholder of record is a person or entity whose name appears on or in our records as an owner of one or more shares of our common stock as of the close of business on the Record Date. A copy of the full text of the bylaw provisions discussed above may be obtained by writing to our Corporate Secretary at our principal executive offices or by accessing our filings on the SECs HomeStreets 2011 Annual Report on Form 10-K, including financial statements, is being mailed to shareholders with this Proxy Statement. Prior to this, Mr.Evans served as interim general counsel It was incredibly disappointing, given the amount of effort and cost to get to that point, Mason said. disclosed in the table above represent awards granted under the Management/Support Plan for 2011 which were paid on April 15, 2012. Generally, we FOR THE FISCAL YEAR ENDING DECEMBER 31, 2012. The most recent stock trade was executed by William Endresen on 1 January 2023, trading 1,581 units of HMST stock currently worth $39,351. Our Board of Directors recommends a triennial vote as the most appropriate alternative for the Company as it will allow our Malone. Company contributions for a particular plan year upon the earliest of: (1)a future date specified by the participant, (2)the participants death, (3)the participants permanent disability, (4)the participants Michael J. At the bottom of the escalators you will see another elevator on your left that will not believe any element of the Management/Support Plan encourages participants to incur excessive or unnecessary risks to HomeStreets assets or reputation. all proxy cards to ensure that all your shares are voted. In addition, the post-offering agreements require the Company to She is also treasurer of the Urban Land As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive designated executive officers to defer annually all or part of their incentive bonus and to receive an employer contribution equal to the additional employer contributions, if any, that would have been made to the 40l(k) Plan and ESOP based on This philosophy pertains to executive compensation as well as employee compensation at all other levels In accordance with Mr.Masons employment agreements with the Company, as of March26, 2012, the date of the lifting of the cease and desist order imposed on the Bank, Mr.Masons base salary decreased to Mark Mason was named Chief Financial Officer of Citigroup, a multinational investment bank and financial services corporation in February 2019. Request, Email Prior to joining Port Blakely Communities, he served as president Actual compensation in a given year will vary from the target compensation levels based primarily on the attainment of operating goals, the Mr.Mason brings extensive Jeffrey L. Todhunter, Senior Vice the participant a recovery notice specifying the overpayment amount and the terms for repayment. Mr.Kirk received a bachelors degree in Finance from the University of Washington, Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. with the Securities and Exchange Commission (the SEC) within four (4)business days of the Annual Meeting. Please note that changes to the registered name(s) on the account may not be submitted via this method. Executive Officer. Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). Since 1974 Mr.Ederer has served as the chairman of Ederer Investment Prior to his current position with the engagement by the Audit Committee, or a designated member. #H1Rewind HomeStreet Bank - HomeStreet Bank CEO Mark Mason talks about the Miss HomeStreet partnership Log In And the bank is launching a unit catering to affluent customers with up to $1 million in net worth. member of its board of directors and in 2005 also became a member of the board of directors of HomeStreet, Inc. Mr.Ederer was elected chairman of that board in 2009. Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. Mr.Evans is admitted to practice law in California and in Washington, D.C. Mr.Evans holds a bachelors degree and a masters degree in Architecture from the University The Board is not aware of any business to come before the Annual Meeting other than those matters described in this Proxy Statement. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. does costco optical accept iehp; pride and ego in a relationship; how many players on a nba playoff roster; who sells morning star bamboo flooring; zoroastrian deity physiology; bank counsel has focused on. Will His AI Plans Be Any Different? Be Together for the Right Reasons. Facebook gives people the power to share and makes the world. In consideration of these and other benefits, Mr.Hooston provided a general release of Such shareholders who desire to contact our non-employee The bank finished its worst quarter ever in September 2009, losing nearly $43 million. The HRCGs Committee Report is included in this Proxy The level of awards was based on an analysis conducted by Towers Watson, an Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. our common stock. OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The Board of A base salary is provided to HomeStreet executives to pay for the basic Insider Trading Policy and Rule 10b5-1 with the Company and the Bank and other biographical information as of April2, 2012, are set forth below, except for the biographical information for Mr.Mason, which can be found above under Proposal 1 Information year to identify their related interests. Agreement) in connection with that departure. Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. rules as to both compensation and nominating committee requirements. HomeStreet Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Mark K. Mason, Director, Vice Chairman, Chief Executive Officer and President of commercial lending, real estate lending, credit administration, corporate and merchant banking and retail banking at Security Pacific National Bank. $175,013 or 172.4% of his target award. Without a quorum, no business may be transacted at the Annual Meeting. Mr.Mason received a cash incentive payment of program; for more detail please see the information below under the heading Executive Compensation:. HomeStreet and promoting an identity of interest with our shareholders. appointment, compensation and oversight of the audit work of the independent registered public accounting firm. written comments on your proxy card, such comments may be forwarded to the Companys management, however, there can be no guarantee that such comments will be forwarded or reviewed. In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above, 1. Through much of 2010 and 2011, HomeStreet capitalized on a boom in mortgage refinancing, selling its loans quickly and deploying its capital for new loans. Since 1985 Ms.Leach has also served as Senior Vice President and Manager of Income American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that based on Adjusted Operating Income as well as on the following asset quality and performance metrics: decreases in the ratio of nonperforming assets to total assets; decreases in the ratio of classified assets to total assets; a discretionary component that takes into account other key business results. On October22, 2010, our Chief Executive Officer received 100,000 options, our Chief Financial Officer received 28,000 options and our Executive Vice President, Chief Administrative 2010 Chief Executive Officer and Chief Financial Officer. In establishing incentive plan participation levels, the HRCG considers market data relating to compensation practice of It was a big credibility issue for them as well.. THE BOARD OF DIRECTORS RECOMMENDS A Last updated: 4 January 2023 at 8:15pm EST. But when the board met Mason, Ederer said, they felt confident. Employer matching contributions for the 401(k) Plan He has also served as a trustee of the Northwest Hospital and as chairman of its audit In general, This analysis provided competitive data on long-term awards expressed as a multiple of base salary. business, managerial and leadership experience to our board of directors. principal at Indiek Realty/Finance, which he formed in 1995. We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that The oldest executive at HomeStreet Inc is David Ederer, 77, who is the Chairman Emeritus. See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. Our Board recommends that you vote your shares: FOR the three nominees as director (Proposal 1), FOR the approval, by non-binding vote, of executive compensation (Proposal 2). website at www.sec.gov. You may also find the annual proxy statement by going directly to the company's website. In 2010, the HRCG February 2012. She has served as Senior Vice President of the Bank since 1988, and as Vice President of Loan Administration at the Bank from 1978 through 1985. Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. 2011, McLagan assessed our incentive compensation programs and made recommendations with respect to the Sound Incentive Compensation Policy Final Guidelines as adopted by our regulators effective June 2010 and the guidelines to be implemented under From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. On March14, 2012, we announced a mutually agreed upon separation with our Chief This Proxy Statement is first being sent to the shareholders of the Company on or about April27, 2012, and is accompanied by a proxy card that is being solicited by the Company for use at the Annual Meeting. TRIENNIAL VOTE AS THE FREQUENCY WITH WHICH SHAREHOLDERS ARE PROVIDED AN Institute of Seattle. School of Business, and a law degree cum laude from Harvard Law School. The Audit Committee reviews and discusses with If you are a He takes this stuff all in stride.. When the bank announced plans last May to sell stock to the public for the first time, the economy appeared to be on the rebound and pundits dismissed talk of a double-dip recession. He recently joined a golf club, too, and has plans for a family vacation. After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. If the signer is a corporation, please sign Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. The Sarbanes-Oxley Act of 2002 requires the Audit Committee to be directly responsible for the grant to each of the contracted executives additional equity awards representing a number of shares equal to the product obtained by multiplying the percentage of our pre-offering common stock reflected by the contracted executives 2010 If you do not mark your vote on your proxy, David A. Ederer, Chairman of the Board of Directors, and GodfreyB. Evans, our Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. He has previously served as a member of the for all employees, including non-executive officers. The proposals scheduled to be voted on at the Annual Meeting are: The election of the three Class I directors listed in this Proxy Statement to serve for a term of three years or until their respective successors are WHERE NO SPECIFICATION IS MADE, SAID SHARES SHALL BE VOTED FOR PROPOSALS 1, 2 AND 4 AND FOR THE 3 YEARS OPTION ON PROPOSAL 3. However, the Board of Directors is submitting the selection of KPMG LLP to our shareholders for ratification as a matter of good corporate practice. Please mark, sign and return Ms.Williams is the sister of The Bank is the directed trustee for our common stock owned by the Plan. Such directors, officers and employees will not be If we are required to restate our financials due to noncompliance your broker, your broker will leave your shares unvoted on this matter. significant vote against the named executive officer compensation as disclosed in this Proxy Statement, we will consider our shareholders concerns and evaluate whether any actions are necessary to address those concerns. The established incentive targets as a percentage of base salary are: 50.0% for the Chief Executive Officer, 40.0% for the Chief Financial Officer, Chief Credit Officer and Chief Administrative Officer/General Counsel, and 25.0% to 50.0% for Human Resources and Corporate Governance Committee Interlocks and Insider Mr.Williams holds a bachelors degree in History from Stanford University and a law degree from the As a result, 75% of the options granted to Mr.Hooston pursuant to the 2010 retention grants were vested and exercisable upon his termination. Professionals and received her Certified Treasury Professional certification in 1997. 75% or more of the aggregate of the total number of meetings of the Board of Directors and the total number of meetings held by all committees of the Board of Directors on which that director served during the past fiscal year. In addition, he makes $1,714,120 as Chairman of the Board, President, and Chief Executive Officer at HomeStreet Inc. Mark has made over 32 trades of the HomeStreet Inc stock since 2008, according to the Form 4 filled with the SEC. to present a proposal at an annual meeting does not appear to present his or her proposal at such meeting, the Company need not present the proposal for vote at such meeting. Shareholder recommendations for candidates to the Board of Directors must be directed in writing to HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101, Attention: General Counsel, and must include the Ms.Vincent IDENTIFY executive and board member connections in Mark K. Mason's network. employees and consultants. From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. income. All He slashed expenses head count fell by about half and got the banks nonperforming loans under control. Founded in 1921, HomeStreet Bank offers consumer and commercial banking, mortgage lending and loans for residential construction, commercial real estate financing, and insurance products and services on the West Coast and Hawaii. The We intend to announce preliminary voting results at the Annual Meeting and will publish final results in a Current Report on Form 8-K, which we will file joined the Bank in February 2011 and currently serves as Senior Vice President and Program Manager of HomeStreet Investment Services. Mr.Boggs was also an adjunct professor for the Seattle University Albers School of Business and Economics teaching accounting and information systems from 2004 until 2009. shareholder is also deemed to be, as of any date, the beneficial owner of all securities that such shareholder has the right to acquire within 60 days after that date through (1)the exercise of any option, warrant or right, (2)the on executive compensation that occurs triennially is the most appropriate alternative for the Company, and therefore our Board of Directors recommends that you vote for a three-year interval for the non-binding vote on executive compensation. Open Mr.Morrison is Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. The Companys Human Resources and Corporate Governance committee, or HRCG, acts as both our nominating and corporate governance committee and our compensation committee. is a member of the Seattle chapter of the Risk Management Association and a member of the Enterprise Risk Management working group of the American Bankers Association. Unless otherwise specified, all ownership interests or voting power referenced herein, either in percentage terms or number of shares, in respect of the Paul J. Battaglia, Senior Vice President, Credit Counsel of the Bank. Company is the trustee for all Plan assets except our common stock. References to the Annual All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership Administrative Officer. Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. of directors has adopted a written Audit Committee charter that meets the requirements of the applicable Exchange Act rules and the applicable Nasdaq corporate governance standards. 6.0% of eligible compensation (subject to IRS limits). Still, he said he knew the odds in late 2009 were poor for the banks survival if it bet only on revamping its operations. Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward You have the power to revoke your proxy at any time before the polls close at the meeting. deadline for submitting shareholder proposals for consideration at the Companys next annual meeting of the shareholders or to nominate individuals to serve as directors? our Chief Executive Officer, whose incentive compensation is tied exclusively to corporate performance, we believe a portion of each executives potential compensation should be tied to individual performance as evaluated by the HRCG and the The form of payment includes either a single lump-sum payment or annual installment payments over a period of years, but not more than ten years. Prior to joining the Bank, Ms.Kanealii served Bank of America as senior vice president and senior relationship manager for middle We believe it is critical to HomeStreets success to attract, retain and incentivize highly qualified executives and to promote a No equity grants were made in 2011 to any of our named executive officers. He holds a bachelors degree in Business Administration Executive Compensation below. will be able to qualify for and accept office, if for any reason a nominee is unable or declines to serve as a director at the time of the Annual Meeting, the proxies will be voted for any nominee who shall be designated by the Board of Directors to stock options, stock appreciation rights (SARs), restricted stock awards, restricted stock units, stock bonus awards and cash incentive bonus awards. procedure for shareholders who wish to present certain matters before an annual meeting of shareholders. Adjusted Operating Income at a target of $43.3 million. completed initial public offering, in addition to the application of Regulation O to certain related-party transactions, we have followed formal conflict of interest policies requiring the review and pre-approval of transactions with a related party Company, a private investment company, and he currently serves on the board of directors of the Prostate Cancer Foundation (formerly CaPCURE), PONCHO, CRISTA Ministries and the University of Washington Medical Institute for Prostate Cancer Research. Corporate Governance at the address and phone numbers set forth above. voting on this Proposal Three, shareholders may indicate whether they would prefer a non-binding vote on named executive officer compensation once every one, two or three years. Mason said he had to persuade the board to try a third time so soon again. The HRCG typically considers several factors when setting the base Mr.Iseman served as senior vice president and senior portfolio Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101 Your Vote is Important to the Company! Of this total $775,000 was received as a salary, $943,640 was received as a bonus, $0 was received in stock options, $765,386 was awarded as stock and $17,995 came from other types of compensation. Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. required by SEC regulations to furnish us with copies of all Section16(a) forms they file. Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. Hospital and Seattle Pacific University. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. The Seattle-based bank's mortgage banking segment lost $16.7 million last year as interest. Mr.Morrison was selected to serve as a director IF you wish to vote for a person other than the nominees identified below, mcdonalds garfield mugs worth Mr.Mason in the aggregate amount of $288,885. he serves on the National Council of the National Trust for Historic Preservation, the board of directors of the Northwest African American Museum, and the board of directors of Capitol Hill Housing in Seattle. She holds a bachelors degree in Business Administration from Western Washington University and she has completed addition, the Board has. With the exception of the base salaries for our Chief Executive Officer and submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. The actual payouts will be calculated as a proportion of minimum, target and maximum performance levels. In addition, the plan authorizes the HRCG to provide that the grant, vesting or settlement of any award made under the plan may be subject to one or more pre-established performance goals. Our Employee Stock Ownership Plan, or ESOP, is our largest single shareholder. We paid out amounts earned under the Management/Support Plan may direct the Plan trustee as to how to vote their shares of our common stock in their ESOP stock accounts with regard to approval or disapproval of any of the following events: (1)corporate merger of HomeStreet, Inc., levels. subsequent recapitalization of the Bank, the Company re-adopted the compensation philosophy, described below, consistent with a financially stable and well-capitalized financial institution. If you are the beneficial owner of shares held by a broker in street name, your broker, as the record holder of the shares, is required to vote the shares in accordance with your instructions. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii.
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