University of Washington and is a graduate of the Pacific Coast Banking School. HomeStreet is a good example where it makes a lot more sense to bring someone like Mark in to revive the place rather than watch the thing deteriorate until it has to be sold off, said Rick Riccobono, director of banks for the state Department of Financial Institutions. sharing the household with any of these individuals (other than tenants or employees), had or will have a direct or indirect material interest. 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. AND 4 AND A VOTE 3 YEARS ON PROPOSAL 3. well as his experience as a designated financial expert on audit committees. Executive He also holds an M.B.A. from Harvard Business School. View All Leadership Share Bio your broker, your broker will leave your shares unvoted on this matter. A Patricia A. Leach, Executive Vice President of Home Street, Inc.; Executive Vice President and Income Property Lending the Bank. Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. ENVELOPE. $500,000 per year. President, Residential Construction Lending Director of the Bank. of Phoenix. From 1998 to 2002, Mr.Mason was president, chief team that had significant turnaround experience and experience that would, in the judgment of the Board of Directors and the Human Resources and Corporate Governance Committee (the HRCG), which acts as the Board of Directors officers for an exemption from the deductibility limits of Section162(m). When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. Calculators, Stock KPMG LLP has officer and then to chief executive officer in 2002, a position that he held until January 2010. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Executive officers, directors and greater than ten percent shareholders are Don't ever be with someone because someone else pressured you to. Prior to his current position and since joining the Company in 2009, and executive officers are excluded from deliberations regarding their own compensation. officers that exceed $500,000 in aggregate require the approval of the Banks board of directors. forward stock split that was effective March6, 2012); the remaining 25.0% were granted as restricted stock awards. reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. attract and retain executive talent. As the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc, the total compensation of Mark Mason at HomeStreet Inc is $1,714,120. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. February 2012. Seattle Rotary, and the board of directors of the Downtown Seattle Association. the approval of executive compensation. Seventy-five percent of these awards were granted as stock options, with an exercise price of $22 per share (after giving effect to a 2-for-1 Mr.Bennions cash incentive was Prior to our recently . Mr. Mason serves as a Trustee of Howard University, where he received a B.B.A. undersigned at such meeting with respect to the election of directors of HomeStreet, Inc., for a term ending at the annual meeting of shareholders in 2015 or upon the due election and qualification of successors, in each case at any time, and for Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. Mr.Schlenker has a bachelor of science in business administration finance from the University card and mailing it in the enclosed, prepaid and addressed envelope or otherwise mailing it to us at our mailing address on the cover page of this Proxy Statement prior to the Annual Meeting. This includes temporary housing and travel expenses for Messrs. Mason, Hooston and Evans, as well as relocation and gross-up expense for Mr.Mason. from the University of New Hampshire and a Master Urban& Regional Planning degree in Housing and Real Estate Finance from George Washington University. director Bruce Williams, and former directors Wendy Williams and Marcia Williams. report and a proxy card. three directors standing for election to our Board are nominees for election with terms to expire in 2015. Generally, we This vote is not intended to address any Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. Mr. Mason owns over 6,435 units of HomeStreet Inc stock worth over $4,479,503 and over the last 15 years he sold HMST stock worth over $610,266. shareholders, shareholder proposals must be received by HomeStreets Corporate Secretary no later than December 28, 2012, and must otherwise comply with the requirements of Rule 14a-8 of the Securities Exchange Act of 1934, as amended (the The Our Human Resources and Corporate Governance Committee, or HRCG, which acts as our compensation committee, hired Towers Watson, an independent third-party compensation consultant, to review and advise HRCG in connection with such Pursuant to the Separation Agreement, Mr.Hooston received, among other things, a $300,000 severance payment, representing one-years base salary, [subject to regulatory approval or Section10A(m)(3) of the Exchange Act and the proposed rules adopted by the SEC directing the national securities exchanges (including the Nasdaq Stock Market) to adopt independence standards relating to members of compensation committees. Committee or our Board of Directors. This philosophy pertains to executive compensation as well as employee compensation at all other levels With the exception of the base salaries for our Chief Executive Officer and If you wish to give specific instructions with respect to the voting of directors, you may do so by indicating your instructions on your proxy card. Amounts in this table are presented in thousands. In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior executive officers. Notification, Privacy Most recently he exercised 6,435 units of HMST stock worth $160,167 on 1 January 2023. Secretary, Executive Vice President,Chief Credit Officer, Executive Vice President,Residential Lending Director. How many shares are entitled to vote at the meeting? Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. The Audit Committee considers whether the provision of related audit Victor H. Indiek. Idaho or Hawaii. Based on the information provided by Towers Watson, we determined that the award levels provided for the We have implemented certain compensation practices to Plan& Trust. Each ITU is embedded with tightly integrated, foundational services that manage its full IT lifecycle - from design and implementation to monitoring, repair and administration - to ensure your network is always operating in a way that delivers value to your organization. independent compensation consultant. What if my shares are held in street name? Bank; Senior Vice President and Treasurer of HomeStreet, Inc. Mr.van Amen joined the Bank in 2003 and currently serves as Senior Vice President and Treasurer. WEST parking in the vicinity of a One Union Square elevator will be closer to the Hilton.). Regulation O generally defines a principal shareholder as a person that directly In Participants in the ESOP Each member of the HRCG meets the independence standards established under including the named executive officers. In the case of a loan He previously served as a member of the board of directors of the Bank from 1986 until the closing of our initial public offering in February 2012. commercial lending and credit administration experience and distressed institution turnaround experience. He also served as president and HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii. Accordingly, we ask our shareholders to vote FOR the following resolution at the Annual Meeting: RESOLVED, that the Companys shareholders approve, on an advisory basis, the compensation of the named executive officers, as She is an associate member for the Corporate Council of the Arts. supplanted by the second set of agreements which we refer to as the post-offering agreements., The Company and the contracted executives entered into the pre-offering agreements effective as of May3, 2011, which remained in the Company in 2008. The notice must contain specified information about the matters to be Mark K. Mason, Director, Vice Chairman, Chief Executive Officer and President of Among other things, this charter calls upon HRCG to: develop criteria for selecting new directors and to identify individuals qualified to become board members; select, or recommend that the board select, the director nominees for each annual meeting of shareholders; develop and recommend to the board a set of corporate governance principles applicable to the corporation, including periodic review and reassessment (1)two times his then current base salary, (2)an amount equal to two times the greater of (a)his annual incentive payment earned in the year prior to termination or (b)his target incentive payment for the current year and $240,000 for Mr.Evans and $200,000 for Mr.Iseman. quorum exists, a majority of the voting power of those present at the Annual Meeting may adjourn the Annual Meeting to another date, time and place. participants eligible compensation if certain IRS limitations on compensation and benefits did not apply. Regarding the Board of Directors and Nominees. Except for Bruce Williams, director, and Kathryn Williams, Senior Vice President, Community Relations, who are siblings, there are no family relationships among any of our directors or bank counsel has focused on. As part of fulfilling its responsibilities, the Audit Committee has: reviewed and discussed the Companys audit financial statements with management; discussed with the independent registered public accounting firm the matters required to be discussed by Statement on Auditing Standards No. the current composition and size of the Board of Directors. The Board of Directors is responsible for overseeing the major risks facing the Company while management is responsible for assessing and mitigating the Companys risks on a day-to-day basis. Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. Its like triage, Mason said. 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 In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above, This will not prevent you from voting in person, but will ensure that your vote is because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. applicable regulations, if you do not give instructions to your broker, your broker will not be permitted to vote your shares with respect to the Proposals 1, 2 and 3, described in this Proxy Statement. officers, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables and the other related disclosure.. HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. Perquisites and other Personal Benefits. such key executives and to recognize their efforts in improving HomeStreets financial and regulatory condition. nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. Facebook gives people the power to share and makes the world. differenza tra associazione culturale e associazione di promozione sociale. shareholders are entitled to vote, on an advisory or non-binding basis, on the compensation of our named executive officers as disclosed in accordance with the SECs rules in the Executive Compensation section of this Proxy your shares will be voted as you instruct. He has been a member of the Fannie Mae Western Business Center Advisory Board since 2004, Chair of the Housing Partnership, a nonprofit organization, from 2001 to 2007 and a member of the University of Washington Milgard School of Business Advisory Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. We needed all three, he said. He takes this stuff all in stride.. Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). Sign up Already have an account? Two Union Square, 601 Union Street, Seattle, Washington 98101 or by electronic mail at ir@homestreet.com. Beginning in 2009, we imposed a general freeze on salary increases and in 2009, 2010 and 2011 we also suspended contributions to the Employee Stock The annual incentive awards granted under this plan provide for payments based upon attainment of specified goals that are intended to align the interests of employees with the interests of HomeStreet. The HRCG granted stock option awards Committee of the Board of HomeStreet, Inc. The unique circumstances presented by the Banks financial condition and the market downturn had a direct Mr.Ederer received a bachelors degree Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. Mark K. Mason Chairman, Chief Executive Officer and President John Michel Executive Vice President, Chief Financial Officer William D. Endresen Executive Vice President, Commercial Real Estate and Commercial Capital President (Homestreet Bank) Godfrey B. Evans Additional copies of the Annual Report on Form 10-K may be IDENTIFY executive and board member connections in Mark K. Mason's network. darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. place until the lifting of a Cease and Desist Order that had been imposed on the Bank by the Federal Deposit Insurance Corporation and Washington Department of Financial Institutions, which we refer to as the Bank Order. The Bank Order Chairman, Chief Executive Officer and President disclosed in the Companys Proxy Statement for the 2012 Annual Meeting of Shareholders pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation I have not played golf in three years now.. Mr.Ederer was selected to serve as a director because of his experience as a director on public company boards, his experience on board committees, his financial expertise and his The participant has a limited ability to change these elections. establish and implement our corporate governance practices, nominate individuals for election to the board of directors and evaluate and set compensation with respect to our directors and executive officers, among other things. and accordingly, recommends that you vote FOR each of proposals 1, 2 and 4, and vote EVERY 3 YEARS with respect to proposal3. 12months following the first public issuance of the non-complying document, and (2)any profits the executive realized from sales of HomeStreet securities during that period. directors by mail may do so by writing HomeStreets Corporate Secretary at HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. As part of those grants, our Executive Vice President, Chief Credit Officer received a grant of 4,000 options related to his prior position as Senior Vice President, Credit Administration Manager at an exercise price 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). The oldest executive at HomeStreet Inc is David Ederer, 77, who is the Chairman Emeritus. Mr.King, joined the board of directors of the Bank in 2010 and became a director of HomeStreet, Inc. following the closing of our initial public offering in February 2012. As of the record date, 7,162,606.8 shares of our common stock were issued, outstanding and entitled to vote at the Annual Meeting. Last year, it earned a profit of about $17.6 million. The option of one year, two years or three years that receives the highest number of votes cast by shareholders will be the frequency for In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. He has previously served as a member of the AS THERE SPECIFIED. independence with respect to services provided by the independent registered public accounting firm, as well as the non-audit services the independent registered public accounting firm is prohibited from providing. 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. All employees, including our named executive officers, are eligible to make pre-tax Property Finance, Vice President and Income Property Loan Officer, and income property loan closer. Mr.Bennion joined HomeStreet in 1977 and currently serves as the Banks Executive Vice President and Residential Lending Director. member of the board of HomeStreet, Inc. from 1994 to 2012 and as a member of the board of the Bank from 1999 to 2012. Unless otherwise specified, all ownership interests or voting power referenced herein, either in percentage terms or number of shares, in respect of the References to the Annual retained Amalfi Consulting, LLC, now McLagan, as an independent third-party consulting company specializing in providing compensation consulting services to financial institutions, to assess our compensation programs and policies. If a shareholder who has notified the Company of his or her intention In addition, each director earns a fee of $1,000 per board meeting, That grim situation didnt deter turnaround specialist Mark Mason, who started as a consultant at the end of that September and soon was named president and CEO. These agreements are described in more detail under the heading This plan reserves for issuance awards of up to 84,000shares of our common stock in order to provide for compensation to directors for one-half of the annual board compensation as described above. The turnaround, said Mason, was so all consuming. OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED Fee paid previously with preliminary materials. Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. Our board of directors has established a code of ethics as defined under the Exchange Act that applies to all HomeStreet directors, officers and employees, including our principal executive officer, She is a member of both the regional and national chapters of the Association for Financial As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial number of shares held by that specific shareholder and the total number of shares outstanding. HOMESTREET INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. constitute an excess parachute payment within the meaning of Section280G of the Internal Revenue Code, the Company will pay that individual an additional amount so that his net payment will not be diminished in any respect by the All services provided by KPMG LLP Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. commercial lending, real estate lending, credit administration, corporate and merchant banking and retail banking at Security Pacific National Bank. On March14, 2012, we announced a mutually agreed upon separation with our Chief All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. officer and chief administrative officer and general counsel entered into employment agreements with the Company, each of which requires the payment of severance and acceleration of certain stock options in the event of a termination by us without However, all of our executive officers received retention equity grants in 2010 and restricted stock awards and option grants under our Institute of Seattle. Each of these options had an exercise price of $1.50 per share. In addition, on November29, 2010, other of our executive officers received 2010 retention grants with an exercise price ranging skills. for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. He previously served as chairman. 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 Malone. University of Washington School of Law. Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly cast will be elected. institutions. Mr.Masons To be brought before an annual meeting: In addition, our bylaws establish an advance notice for our Chief Executive Officer and Chief Financial Officer in 2009, we considered compensation information for equivalent positions of the following banks: In November 2011, the HRCG subsequently engaged EW Partners, Inc. (EW Partners) according to any stock option grant or plan. This proxy, when properly executed, will be voted in the manner directed herein by the undersigned shareholder(s), but if no direction is made, this proxy commercial, real property, bank litigation issues and mortgage default servicing issues. The SEC maintains a website located at www.sec.gov that also contains this information. Darrell van Amen, Senior Vice President, Asset/Liability Manager, Treasurer of the 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. If signer is a partnership, please sign in partnership name by authorized person. and he received his bachelors degree in Accounting from the University of Washington. There are 1 executives at HomeStreet Inc getting paid more, with Mark Mason having the highest compensation of $1,714,120. income. Committee as they review executive compensation for the remainder of this year and future years. Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. 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. by | Jun 10, 2022 | high school indoor practice facility cost | route 3 south massachusetts | Jun 10, 2022 | high school indoor practice facility cost | route 3 south massachusetts incentive ranges are designed to provide market-competitive payouts for the achievement of target and maximum performance goals. Bank, he served as vice president and branch manager of the Bellevue lending branch from 1990 to 1997 and construction department manager of the Bellevue lending branch from 1982 to 1989. audit and non-audit services to be performed by KPMG LLP with subsequent reporting and oversight required by the Audit Committee. The HRCGs criteria and process for evaluating and identifying the candidates that it recommends to the full Board of Directors for selection as director nominees are as follows: In its evaluation of director candidates, including the members of the Board of Directors eligible for re-election, the HRCG seeks to achieve a balance The following table presents fees billed for professional audit services and other services rendered to HomeStreet by KPMG LLP for the Prior to her current position, she served as an assistant vice president, compliance officer, vice president, internal auditor and senior vice president, internal audit director. Prior to joining HomeStreet, Ms.Taylor served as executive vice In 2011, the Companys board of directors met 22times. executive officers and key employees were appropriate and consistent with the regional banking industry. [3] In May 2000, the named changed to HomeStreet Bank. Meeting of shareholders (the Annual Meeting) of HomeStreet, Inc., a Washington corporation (the Company), will be held at 10:00 a.m., Pacific Daylight Time, on May23, 2012, in the Windward Room of the Hilton Hotel, 1301 The HRCG is responsible for, among other things, As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. Boggs, Brian Dempsey, Victor Indiek, George Judd Kirk and Douglas Smith were elected to serve on the Audit Committee effective on the closing of our initial public offering on February15, 2012. As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive FOR AGAINST ABSTAIN Brian P. Dempsey Gerhardt Morrison Douglas I. Smith 2.
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