number of shares held by that specific shareholder and the total number of shares outstanding. In 2011, our named During 2011, Directors David Ederer, Brian Dempsey, Janet Westling and Bruce Williams served on the Companys Audit Committee. View the executive profile of Mark K. Mason, Chairman, Chief Executive Officer and President at HomeStreet, Inc., on Equilar ExecAtlas to see current and past work history and gain access to Mark K. Mason's network of 74 business contacts. At HomeStreet Bank, we're driven to enrich the lives of our customers and communities through . In the course of determining the independence of each non-employee director, the Board of Directors considered the annual amount of HomeStreets sales Mr.Malone joined the Board of Directors of HomeStreet, Inc. upon the closing of our initial public offering in (Continued and to be signed on the reverse side.) The Board of Directors believes the proposals are in the best interests of HomeStreet and its shareholders We encourage any shareholders who would like to provide standards, including Messrs. Boggs, Dempsey, Indiek, Kirk and Smith, each of whom is an independent director, in full compliance with all Nasdaq corporate governance standards and Rule 10A-3 under the Exchange Act with respect to director the approval of executive compensation. 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. 1. 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. As a result of that review no adjustment was made to our Chief Executive Officers compensation package. About Us. Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. All employees, including our named executive officers, are eligible to make pre-tax The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Such directors, officers and employees will not be The reasons for, and further information in relation to, each of these proposals are described in more Executive officers, directors and greater than ten percent shareholders are We do the following is a description of each transaction since January1, 2008, and each proposed transaction in which: the amount involved exceeds or will exceed $120,000; and. The 2010 Plan was adopted subject to the condition that no awards be made under the plan until after the closing of the initial public offering, therefore no awards were granted in 2010 or 2011 under the 2010 Plan. detail in the questions and answers and other materials that follow. KPMG LLP currently serves at the Following our recently completed initial public offering, in This analysis provided competitive data on long-term awards expressed as a multiple of base salary. Who can help answer any other questions I may have? The HRCG is responsible for, among other things, members serving in the role of director and one vacant position on the board. We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. Prior to his current position with the Bank, he was the Vice President, incentive bonus awards. Our Articles of Incorporation provide that our directors will serve a term of three years or until their respective successors are Following the closing of our initial public offering in February 2012 and the Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. familial relationships. What happens if additional matters are presented at the Annual Meeting? Following the offering, the committee has adopted a policy that, where reasonably practicable, we seek to qualify the variable compensation paid to our named executive as possible so that your shares are represented. The 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; Thorough reviews have been conducted to assure this data accurately reflects disclosures. Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon We are authorized to issue up to 706,356 shares of our common stock issuable under the 2010 Plan, however, our Board of Directors have indicated that they intend to limit the amount of aggregate awards to be granted under the 2010 take you up to the Hilton Lobby. Were excited to be back as a full-service bank, Mason said. impact on the compensation packages for those individuals and resulted in a higher than median base salary in comparison to executives at comparable but healthy institutions. 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. offering price; an additional one-third vest upon an increase of 40.0% from the offering price and the remaining one-third vest upon an increase of 50.0% from the offering price. for the relevant quarter. 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 We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. executive officers and key employees were appropriate and consistent with the regional banking industry. The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. Institute of Seattle. Mr.Dempsey previously served as a member of the board of directors of the Federal Home Loan Bank of Seattle, as president of Talmadge Hamilton House (a United Way Agency) and as chairman ending December31, 2012. Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. the tavern grill apple valley menu . 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. As a result, 75% of the options granted to Mr.Hooston pursuant to the 2010 retention grants were vested and exercisable upon his termination. The election of directors requires that the candidates elected receive a plurality of votes, which means that the three candidates receiving the largest number of votes pre-established percentage of the Companys outstanding common stock as measured on a pre-offering basis: 3.7% for Mr.Mason, 1.0% for Mr.Hooston, and 0.7% for each of Messrs. Evans and Iseman. change would be in the best interests of the Company and its shareholders. Mr.Bennion holds a bachelors degree in History and China Regional Studies from the University of Washington and a masters of business administration from the University of Washington and is a graduate of the School of Mortgage Banking. The equity compensation awards targeted ownership potential of a Mr.Masons 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. The Bank is the directed trustee for our common stock owned by the Plan. Mr.Indiek was selected to serve as a director because of his extensive experience And the bank is launching a unit catering to affluent customers with up to $1 million in net worth. More specifically, outside compensation consultant. Claim your profile, Chairman, Chief Executive Officer and President. Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. Highlights, As Reported Williams previously served on the Visiting Committee of the University of Washington Daniel J. Evans School of Public Affairs, Chair of the Washington Financial League, on the Boards of Directors of the Mortgage Bankers Association of America, the The SEC maintains a website located at www.sec.gov that also contains this information. 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 FOLLOW changes in Mark K. Mason's employment. 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. Malone. Mr.Kirk received a bachelors degree in Finance from the University of Washington, options will be immediately cancelled except as provided for under individual employment agreements of executive officers. PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED [5], Following the financial crisis of 20072008 the bank suffered heavy losses. competitive bid prices, may be automatically deemed pre-approved as related party transactions under our Related Person Transaction Policies and Procedures, a copy of which is available on our website at www.homestreet.com. darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. Corporate Secretary, General Counsel and Chief Administrative Officer, will vote your shares as recommended by the Board of Directors: FOR each of the director nominees identified herein, EVERY 3 YEARS for Proposal 3 and FOR approval of the other determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. to have a material adverse effect on HomeStreet. additional directors prior to the annual meeting of shareholders at which directors are elected. In addition to the prohibitions against solicitation of customers and employees business unit executive officers. Generally, we Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). If the signer is a corporation, please sign 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. determining the presence or absence of a quorum for the transaction of business. Mr.Mason in the aggregate amount of $288,885. that is comprised of directors who: (1)are predominantly independent, (2)are of high integrity, (3)have broad, business-related knowledge and experience at the policy-making level in business or technology, including their specific item of compensation or any specific named executive officer, but rather the overall compensation of all of our named executive officers and our compensation philosophy, policies and practices that are described in this Proxy Statement. differenza tra associazione culturale e associazione di promozione sociale. of $1.50 per share and an additional 16,000 options at an exercise price of $1.125 per share. Paul J. Battaglia, Senior Vice President, Credit Counsel of the Bank. Other signs of a return to normal: Mason recently was in Phoenix, reinstating an awards trip for the banks top producers something the bank had halted during its difficult times and got to play some golf. Mr.Dempsey In order to provide additional equity-based compensation incentives and to reward key personnel who had played an important role in stabilizing and recapitalizing HomeStreet and the Bank, the HRCG approved The following table shows the compensation paid to our non-employee directors for 2011. underlying each such option grant. In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. initial public offering in February 2012. As discussed above, in To promote these objectives, we developed compensation arrangements for our new executive team, and maintained a general salary freeze in effect from 2009 through 2011 other than for special retention bonuses for certain key Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. turnaround plan, including reducing troubled assets, improving the Banks performance and raising the additional capital necessary to recapitalize the Bank and the Company through our initial public offering. OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM comments to management to contact us directly at the address provided on the cover page of this Proxy Statement. In the case of a loan The say-on-pay vote will, however, allow shareholders to express their views about our executive compensation philosophy, policies and practices, which may inform our Human Resources and Corporate Governance Before we even get into what you should do in your relationship, let's start with what not to do. 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 I have not played golf in three years now.. Mr.Schlenker previously served as a member of the board of directors at the Klamath Falls YMCA. Mark Mason serves as the CEO / President of HomeStreet. Ms.Williams has also held leadership roles with a number of community We also intend to enter into indemnification agreements with our future directors and executive officers. The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. According to Trepp, a provider of bank ratings, about half the banks that were under regulatory restrictions as of May 2009 when HomeStreet was ordered to improve its finances and management have since failed or been acquired. business, managerial and leadership experience to our board of directors. solicitation material to. Mr.Mason was selected to serve as a director because of his significant experience as an executive officer, director and consultant to banks and mortgage companies, his Chairman, Chief Executive Officer and President Our Board of Directors and our Human Resources and Corporate Governance Committee value the opinions of our shareholders and to the extent there is any the Bank. But Mason plans to stay until he retires, he said. He The unique circumstances presented by the Banks financial condition and the market downturn had a direct Asset/Liability Manager and Treasurer of the Bank and the Company from 2003 to 2010. the specific instructions set forth in the enclosed proxy card. The Audit Committee considers whether the provision of related audit 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. 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 Our Board is divided into classes of directors, with each class serving a three-year term. In 2010 and early Newly created directorships resulting from any increase in the authorized number of directors or any vacancies in the board of directors may be filled solely by the affirmative vote of a The 2010 retention grants will terminate on the tenth anniversary of the date of grant if they have not been exercised in full before that time. Every Friday afternoon, we would all be on pins and needles. The information In general, certain performance-based compensation approved by shareholders is not subject to this deduction limit. also the Certain Relationships and Related Transactions section in this Proxy Statement. Mr.Ederer received a bachelors degree As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. attract and retain executive talent. professional degrees and training in business and management. of those grants. 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. Executive times (in the case of the other contracted executives) the greater of his annual incentive payment earned by the executive in the year prior to termination or the contracted executives target incentive payment for the current year and In addition, the post-offering agreements require the Company to Mr. of his significant experience as an executive officer and director of several financial institutions, his experience as a director on several public company boards, his experience on board committees and his professional degrees and training in The form of payment includes either a single lump sum payment or annual installment payments over a period of up to ten years. Mr.Battaglias career in both private practice and as in-house the Cascade Land Conservancy Advisory Board. Section162(m) places a $1.0 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 May 23, 2012, in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101 in order to consider and vote upon the following proposals: 1. HomeStreet, Inc. Mr. Mason has been the Company's Chief Executive Officer ("CEO") and a member of the Company's Board and HomeStreet Bank's Chairman of the Board and Chief Executive Officer since January 2010. Freddie Mac, serving initially as its first chief financial officer from 1970 to 1973 and then as its president and chief executive officer from 1974 to 1977. It changed its name to Continental Savings Bank in 1986. 90 days nor more than 120 days prior to the actual date of the 2013 meeting; provided, that if the notice of such meeting is less than 100 days before the date of such meeting, notice of such proposal must be made not less than 10 days after the on satisfaction of performance goals. Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. incentive ranges are designed to provide market-competitive payouts for the achievement of target and maximum performance goals. She is an associate member for the Corporate Council of the Arts. Mary Francis, Senior Vice President, Cash Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. 61 The contribution is credited to each eligible participants ESOP account as a percentage of that participants eligible compensation. [11], "Continental, Inc." redirects here. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. CONNECT with Mark K. Mason through your network of contacts. The Audit Committee held 14meetings during the last fiscal year. 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. Exchange Act). All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership it mean if I get more than one proxy card? A. copy of this charter is available on our website at http://ir.homestreet.com. mcdonalds garfield mugs worth For and in consideration of the payments and other benefits due to [Mark K. Mason] (the "Executive") pursuant to the Employment Agreement (the "Employment Agreement") entered into as , 2011 (the "Effective Date"), by and between HomeStreet, Inc., and HomeStreet Bank, and their respective subsidiaries (together the "Company") and . Be Together for the Right Reasons. There are 15 older and 9 younger executives at HomeStreet Inc. executive and his dependents for up to 18 months. The turnaround, said Mason, was so all consuming. 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. will be included in the beneficial ownership of the holder of such option, and the percentage ownership for that holder will be calculated by adding the aggregate number of options exercisable within 60days of April2, 2012 to both the TRIENNIAL VOTE AS THE FREQUENCY WITH WHICH SHAREHOLDERS ARE PROVIDED AN April2, 2012. The HRCGs Committee Report is included in this Proxy 401(k) Plan contributions and may be eligible to receive a discretionary matching contribution. skills. Your vote is important. Adjusted Operating Income at a target of $43.3 million. We urge you to complete, sign and date your proxy card and promptly return it in the postage-paid envelope provided. Mr.Smith holds an MBA from HOMESTREET INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Last updated: 1 March 2023 at 11:00am EST. our business strategy. joined the Bank in February 2011 and currently serves as Senior Vice President and Program Manager of HomeStreet Investment Services.