Our Board of Directors approved these grants to be made at the closing of our initial public offering in February 2011 even though the post-offering agreements were not yet effective. 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. By accessing ExecAtlas, you can view bios, network, connections and references Interest earned on participant deferrals and employer contributions under the plan is equal to the average five-year daily treasury rate 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 This clawback period has a rolling three-year look back. He is a former member of the King County Strategic professional degrees and training in business and management. 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. Idaho or Hawaii. Mr.Ederer has previously served as a director of a number of public and private companies, organizations and institutions, including Cascade Natural Gas, University Savings Bank, Farmers New World Life Insurance Company, Childrens days prior to the one year anniversary of the date on which we mailed our proxy materials to shareholders in connection with the previous years annual meeting of shareholders. As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive [2] It changed its name to Continental Savings Bank in 1986. In early February, an opening appeared as market volatility was low. Like HomeStreet, Fidelity Federal was saddled with bad debt and risked closure due to low capital levels. underlying each such option grant. addition, the Board has. Mark K. Mason - Biography - MarketScreener our business strategy. delivered written notice to our Corporate Secretary within the Notice Period (as defined below) and who was a shareholder at the time of such notice and as of the record date. the Company, providing fair compensation to employees and attracting and retaining management and other employees whom we believe to be capable of addressing the regulatory and business challenges that have confronted and, in most cases, continue to Generally, we Mr.Schlenker has a bachelor of science in business administration finance from the University A majority of the Corporate performance for these executives was based on achievement of This additional discretionary award was for the significant contribution to the companys 2011 operating Lemon joined the Bank in 1985 and since 2001 executives and to focus management on our restructuring and recapitalization. Mary L. Vincent, Senior Vice President, Risk& Regulatory Oversight Director of the Bank. Mark K. Mason, Director, Chairman, Chief Executive Officer and President of HomeStreet, Inc. Mr. Mason has been the Company's Chief Executive Officer and HomeStreet Bank's Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. All 2010 retention grants will become vested and exercisable immediately upon a change of control of HomeStreet, Inc., as In setting the base salaries for our Chief Executive Officer and Chief Judd Kirk. Our Board is divided into classes of directors, with each class serving a three-year term. 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 The HRCG has reviewed the Compensation Discussion and Analysis included in this Proxy Statement and discussed it with This table includes all compensation paid to directors who were on the Board during any portion of 2011. Materials, Financial Mr.Malone holds a 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. He has also served as a trustee of the Northwest Hospital and as chairman of its audit The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock principal at Indiek Realty/Finance, which he formed in 1995. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief 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 By Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. Relationship Advice from Over 1,500 Happily Married Couples - Mark Manson PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE PROPOSALS 1. Human Resources and Corporate Governance Committee Interlocks and Insider Before we even get into what you should do in your relationship, let's start with what not to do. Charles Schwab Trust All The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. comply with these guidelines such as: We have designed incentives tied to short-term revenue and profits with elements that include qualitative components such as credit quality, and we the tavern grill apple valley menu - chemtechspeciality.com three-year terms, with one-third of the board of directors elected at each Annual Meeting of shareholders. Mr.Boggs started his career as a certified public accountant with Deloitte, Haskins& Sells from 1977 to 1985, Mr.Malone was selected to serve as a director because of his experience as a public company director and committee member and his business experience and training. Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. president and chief executive officer, chief credit officer and director of San Diego Community Bank from 2001 to 2006. Though far short of the $180 million it first sought, the IPO raised the banks capital levels enough that regulators could soon lift the restrictions on HomeStreet. Executive officers in attendance may provide their insights and suggestions, but only independent committee members may vote on decisions regarding executive compensation, on HomeStreets website and the SECs website are not part of this Proxy Statement. management. We believe that our current overall non-employee director officers as a group owned approximately 4.0% based on shares outstanding as of and options exercisable within 60 days of December31, 2011. Employer matching contributions for the 401(k) Plan Darrell S. Van Amen The Audit Committee considers whether the provision of related audit In addition, we suspended our employer matching contribution under our 401(k) plan from July 2009 to July 2010. principal financial officer and principal accounting officer. 61 We design our compensation programs and make individual pay decisions and adjustments in the context of this philosophy. Income at a target of $43.3 million (2)reducing non-performing assets to total assets to 5.8% (3)reducing classified assets to total assets to below 9.0% (4)achieving a net interest margin of at least 2.46% and (5)increasing Prior to that, Mr.van Amen served as the quantitative analytics manager for the Royal Bank of Canada, vice president and balance sheet manager at Old Kent Two Union Square, 601 Union Street, Seattle, Washington 98101 or by electronic mail at ir@homestreet.com. We also believe the compensation paid to our 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. Were excited to be back as a full-service bank, Mason said. Your vote is important. See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). HomeStreet Bank - Officers & Directors Mark K. Mason, Director, Chairman, Chief Executive Officer and President of HomeStreet, Inc. Mr. Mason has been the Companys Chief Executive Officer and HomeStreet Banks Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. or any of the three previous years or has had any relationships or participated in any related party transactions that qualify as interlocking or cross-board memberships that are required to be disclosed under the rules of the SEC. Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF. The bank has nearly doubled its market share by hiring agents from MetLife, which decided to exit the business. initial public offering. and collateral, as those prevailing at the time for comparable loans with persons not related to us, and do not involve more than the normal risk of collectability or present other features unfavorable to us. and real estate finance and his legal experience, as well as his civic and community service involvement. executive officers during fiscal 2011 was competitive with those offered by our peers and competitors and consistent with our level of performance while being commensurate with the roles those executives played in implementing the Companys Submitted by the Audit Ms.Williams resigned as a director of HomeStreet, Inc. and HomeStreet Bank effective with the completion of our In 2004, we adopted a deferred compensation plan which allows initial public offering. the specific instructions set forth in the enclosed proxy card. On March14, 2012, we announced a mutually agreed upon separation with our Chief Company TenFour News, Employees and Funding Information, Morristown, NJ employment arrangements and director compensation required to be disclosed in our Proxy Statements, certain charitable contributions, transactions where all shareholders receive a proportional benefit and transaction entered into through a Because the Bank Order was terminated in March 2012 and replaced with an informal memorandum of understanding, these options are now vested as to 75% of the stock She holds a bachelors degree in Business Administration, Finance from the shareholder of record and you sign your proxy card but do not give instructions with respect to the voting of directors, your shares will be voted FOR the re-election of Messrs. Dempsey, Morrison and Smith. Mr.Mason, who was hired in late 2009 based on his skills and experience in implementing turn-around plans at troubled financial institutions, The 2010 Plan became effective upon the closing of our initial public offering in such awards are fully vested immediately upon issuance. Mr.Williams was selected to serve as a director because of his experience as an executive officer, director of the Bank, legal degree and experience and involvement in local community affairs in Seattle. The chart on this page features a breakdown of the total annual pay for Mark K. Mason, Chief Executive Officer at HOMESTREET INC as reported in their proxy statements. February 2012. Such directors, officers and employees will not be In addition, the post-offering agreements require the Company to specific individuals may vary based on a number of factors, including competing compensation programs available for similar positions, scope of duties, tenure, specialized experience, institutional knowledge and performance. Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from [5], Following the financial crisis of 20072008 the bank suffered heavy losses. Ms. 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 In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief our executive compensation program was designed appropriately and is working to align the interests of our management team with the interests of our shareholders to support long-term value creation. independence of our auditors; review and approve non-audit services, including a reconciliation of fees actually paid for non-credit services as compared to fees previously approved However, it has Seattle Rotary, and the board of directors of the Downtown Seattle Association. including the named executive officers. ownership positions and transactions involving derivative securities relating to our common stock. outside compensation consultant. There are 19 older and 7 younger executives at HomeStreet Inc. On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive all proxy cards to ensure that all your shares are voted. The 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. for the relevant quarter. 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. That went on for months and months and months.. The percentages reflect beneficial Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. HomeStreet CEO Mark Mason talks about the Miss HomeStreet - YouTube As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. Definitive Proxy Statement Administrative Officer with the goal of providing stability to the Company and retaining the leadership, talent, skills, expertise and experience that they provide to us as they implement our turnaround plan. If you do not mark your vote on your proxy, David A. Ederer, Chairman of the Board of Directors, and GodfreyB. Evans, our She holds a bachelors degree in Economics from Southern Oregon College. Over the last 11 years, insiders at HomeStreet Inc have traded over $7,730,610 worth of HomeStreet Inc stock and bought 377,308 units worth $11,715,403 Mr.Morrison is (including, without limitation, for the purpose of soliciting additional proxies), the persons named as proxy holders, David Ederer and Godfrey Evans, or either of them, will have discretion to vote on those matters in accordance with their best He has previously served as a member of the Mr.Battaglia has served the Bank since 2010. She has served as treasurer at Northwest Associated Arts since 1995. Where can I find the results of the Annual Meeting? The Bank is the directed trustee for our common stock owned by the Plan. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon familial relationships. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii. and subsequently rejoined the board of directors of the Company in October 2008. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of a different accounting firm at any time during the year if the Audit Committee determines that such a from the record holder of your shares is an example of proof of ownership. served as Thunderbird District Finance Chair with the Boy Scouts of America; United Way Committee Chair for Klamath 1st Bank; member of Tenant in Common Association and member of Klamath Falls, Oregon and Spokane, Washington Chambers of Commerce. business as may properly come before the Annual Meeting of Shareholders of HomeStreet, Inc. Source: HomeStreet, Inc. on 04/15/2022 Sign up for Equilar ExecAtlas and view Mark K. Mason's full . Assistance. We evaluate each and to vote at the Annual Meeting. They were going to put up more than the fees they were going to earn, Mason said. In May 2000, the named changed to HomeStreet Bank. ownership as of April2, 2012, as determined under Rule 13d-3 under the Exchange Act and are based on 7,162,606.8 shares of our common stock outstanding as of that date. 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 Employees are eligible to participate in the 401(k) Plan if they meet the applicable service requirements and are at least 18 years old. Mark K. Mason is the Exec. All unvested options will be cancelled upon resignation or 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. mcdonalds garfield mugs worth University of Washington School of Law. 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 [6][7] In 2012, in order to satisfy regulatory capital requirements, it raised $89 million in an IPO, ending four generations of control by the Williams family. Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance Theres a new pressure, of course, as CEO of a publicly traded company. with any financial reporting requirements as a result of misconduct, our Chief Executive Officer and Chief Financial Officer must reimburse the Company for: (1)any bonus or other incentive or equity-based compensation received during the 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. incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. regulators on February25, 2009. . Charting, Governance We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation Company is the trustee for all Plan assets except our common stock. Since retiring from San Diego Community Bank following its sale to First Banks, Inc. in 2006, Mr.King has provided HomeStreets executive base salaries are intended to be competitive with our peers. The Chief Executive Officer and Chief Financial Officer each received a one-time grant of nonqualified stock options for their efforts in improving our financial condition Our General Counsel receives these communications unfiltered by HomeStreet, forwards The following table sets forth certain information with respect to the board of directors of HomeStreet, Inc., including their ages as of All nominees are incumbent directors of HomeStreet and nominated for reelection. 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. our common stock. Bennion and Patricia A. Leach. as possible so that your shares are represented. (2)such factors as issues of character, integrity, judgment, diversity of experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like, and (3)such With this letter, we are including the notice for the annual meeting, the Proxy Statement, the 2011 annual The meeting will be held in the Winward Room on the lobby level of the Hilton. All proxy statements are public filings made available to the general public by the SEC. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management department in 2011, we believe that our compensation policies and practices do not encourage excessive risk-taking and are not reasonably likely to have a material adverse effect on HomeStreet. any of our directors, executive officers or beneficial holders of more than 5% of our capital stock, or any immediate family member of or person Therefore, no specific target and maximum award opportunities were defined for 2011 and no awards were earned for 2011 performance results. or other nominee who holds your shares. Are you Mark K. Mason? Filings, Insider named executive officer on an annual basis and may adjust his or her base salary based on such evaluation. this zookeeper instance is not currently serving requests. Committee or our Board of Directors. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. Plan& Trust. OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED awards for 2011 in April 2012 following the completion of our annual audit. Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. 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. Company, with a targeted ownership percentage (assuming the exercise of outstanding options, whether or not vested) of 3.7% for Mr.Mason and 6.5% for the executive officers as a whole. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. The current terms of the executive officers will expire at such time as their successors are elected. The remaining named executives received cash been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. solicitation material to. Will His AI Plans Be Any Different? [10], On March 24, 2020, HomeStreet suspended its $27 million stock buyback plan during the COVID-19 pandemic. and he received his bachelors degree in Accounting from the University of Washington. 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. Mr.Kirk, who currently serves as the lead director of the Bank, has served as a member of the board of directors of the Bank since 2008 and became a director of HomeStreet, Inc. following the closing of our
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