Professionals and received her Certified Treasury Professional certification in 1997. $500,000 per year. two years or three years that receives the highest number of votes cast for this resolution will be determined to be the preferred frequency with which the Company is to hold a shareholder vote to approve the compensation of the named executive 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. our business strategy. initial public offering in February 2012. 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 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 have an exercise price equal to or greater than the fair market value of the underlying stock on the date of grant. Mr.Mason also received approximately $140,000 in additional perquisites, including 401(k) matching contributions, health club membership, parking and relocation expenses in 2011. We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding 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 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, AS THERE SPECIFIED. All employees, including our named executive officers, are eligible to make pre-tax 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. of those grants. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief Non-Binding Vote on Executive Compensation. With this letter, we are including the notice for the annual meeting, the Proxy Statement, the 2011 annual 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. With the exception of the base salaries for our Chief Executive Officer and Vice President, General Counsel, Date, Time, Place and Purpose of HomeStreets Annual Meeting, Questions and Answers about the Proxy Materials and Annual Meeting, Proposal 2: Non-Binding Vote on Executive Compensation, Proposal 3: Non-Binding Vote on Frequency, Proposal 4: Ratification of Appointment of Independent Registered Public Accounting Firm, Pre-Approval of Audit and Non-Audit Services, Compliance with Section16(a) of the Exchange Act. The 2010 Plan became effective upon the closing of our initial public offering in 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. February 2009 to March 2012. Perquisites and other Personal Benefits. Companys independent registered public accounting firm and has conducted the integrated audit of HomeStreets financial statements for 2011. Please submit your proxy by mail in accordance with The reasons for, and further information in relation to, each of these proposals are described in more The Audit Committee held 14meetings during the last fiscal year. 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 the Bank. FOR AGAINST ABSTAIN Brian P. Dempsey Gerhardt Morrison Douglas I. Smith 2. Darrell van Amen, Senior Vice President, Asset/Liability Manager, Treasurer of the chairman of University Savings Bank from 1984 to 1994. We adopted a broad-based, non-discretionary severance plan following approval by our 2019-2020 voted Best Bank by Money Magazine for the 3rd year in a row! However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. incentive ranges are designed to provide market-competitive payouts for the achievement of target and maximum performance goals. It is my distinct pleasure to invite you to attend the 2012 annual meeting of shareholders of HomeStreet, Inc. The HRCG has the authority to 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 Kathleen A. Kanealii, Senior Vice President, Business Banking Director of termination without cause, and all vested options will expire 90 days after termination except as may be modified by employment agreements between HomeStreet and the individual executive officers. The Company is paying all such costs. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Sixth Avenue, Seattle, Washington 98101 in order to consider and vote upon the following proposals: Only shareholders of record at the close of business on April2, 2012, are entitled to notice of the meeting and an opportunity to All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian additional grants of restricted stock awards and stock options awards, which awards were conditioned upon the successful completion of our initial public offering. In 2004, we adopted a deferred compensation plan which allows inaccurate financial information was used in setting that award or if the recipients activities posed risk to the Company. The stock options vest ratably in thirds over each of the first three anniversaries of the completion of the offering, while the Directions and Parking Instructions to HomeStreet, Inc. The Bank is subject to the requirements of Regulation O, which Prior to our recently The first set of agreements, which we refer to in this Proxy Statement as the pre-offering agreements, were in effect from May 2011 until the lifting of the Bank cease and desist order in March 2012, at which point those agreements were Executive Compensation.. Based upon a review of the assessment conducted by McLagan in 2010 and early 2011 and an internal review by our human resources income. Mr.Schlenker was previously president of Sterling Savings Banks investment subsidiary from January 2004 incentive plan in order to increase performance and to achieve annual goals. While we have not established specific minimum qualifications for director candidates, we believe that candidates and nominees must reflect a Board 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. awards total approximately 5.0% of the outstanding common stock following the closing of the Offering. IDENTIFY executive and board member connections in Mark K. Mason's network. The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing 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. 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. The transaction was expected to be finalized in the first half of 2019. 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 In 2011, our named Mason joined Citigroup in 2001 and has held a number of executive positions at the firm, including Chief Financial Officer of Citi's Institutional Clients Group, Chief Executive Officer of Citi Private Bank, Chief Executive Officer of Citi Holdings, and Chief Financial Officer and Head of Strategy and M&A for Citi's Global Wealth Management Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. 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 We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. 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. Mutual Funds. 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. implemented compensation practices consistent with our complementary goals of preserving the Banks safety and soundness, assuring the survival and success of HomeStreet, fairly compensating employees, and attracting and retaining management mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. Scott M. Boggs. However, our Board of Directors approved grants of stock options and restricted stock awards to our executive officers and senior managers in 2011 that were granted effective upon the closing of our initial public offering in February 2012. Permissible services, not pre-approved pursuant to this policy, require specific review and approval prior to the Its like triage, Mason said. Plus, the states economy has improved rapidly. will be voted FOR the nominees identified herein, FOR the advisory vote for the approval of executive compensation, 3 Years on the frequency of executive compensation votes and FOR the appointment of 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. Victor H. Indiek. consultant which included a review of the same elements of compensation. Payment of Filing Fee (Check the appropriate box): Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11. A map and directions to the meeting location can be found at the back of In setting the base salaries for our Chief Executive Officer and Chief As a result, 75% of the options granted to Mr.Hooston pursuant to the 2010 retention grants were vested and exercisable upon his termination. and reducing overall credit risk and nonperforming assets. Ms.Leach is a member of the board of directors of the Seattle Housing Resources Group, member of Commercial Real Estate Women, member of to provide updated peer group benchmarks for our Chief Executive Officer in order to determine if the compensation package provided for that executive officer would require any adjustments to be competitive in 2012, especially in light of the We have entered into indemnification agreements with each of the current and former directors and executive officers of HomeStreet, Inc. Subject to certain limitations, these agreements require us to your broker, your broker will leave your shares unvoted on this matter. (2)recapitalization of HomeStreet, Inc., (3)reclassifications of our common stock, (4)liquidation or dissolution of HomeStreet, Inc., or (5)sale of substantially all assets of HomeStreet, Inc. For all other matters, the Committee Membership of Directors of HomeStreet, Inc. Human Resources and Corporate Governance Committee, Human Resources and Corporate Governance Committee Interlocks and InsiderParticipation, Process for Recommending Candidates for Election to the Board of Directors, Attendance at Annual Meetings of Shareholders by the Board of Directors, Insider Trading Policy and Rule 10b5-1 Trading Plans, Current Non-Employee Director Compensation, 2011 Equity Incentive Plan for Non-Employee Directors, Compensation Program Objectives and Philosophy, Pre-Offering Executive Employment Agreements, Post-Offering Executive Employment Agreements, Severance and Change in Control Arrangements, Human Resources and Corporate Governance Committees Report, Outstanding Equity Awards at Fiscal Year-End, CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, Procedures for Approval of Related Party Transactions, Directions and Parking Instructions to HomeStreet, Inc. Mr.Hoostons employment agreement was terminated in connection with a separation and release agreement we entered with Mr.Hooston (the Separation You may cast your vote on your preferred voting frequency by choosing the option of one year, two years, three years or abstain from approved a one-time grant of nonqualified stock option awards that were made outside of the 2010 Plan. Ms.Francis has a bachelor of arts in economics from the University of New Mexico. This will not prevent you from voting in person, but will ensure that your vote is People are worried about the taint of another unsuccessful offer on the companys reputation, he said. Nominees for Class I Directors Terms Expire 2015. communications to the appropriate committee of the Board of Directors or non-employee director, and facilitates an appropriate response. Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. to April 2008. Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. In addition, on November29, 2010, other of our executive officers received 2010 retention grants with an exercise price ranging Jay C. Iseman, Executive Vice President and Chief Credit Officer of HomeStreet, Inc. and There are 1 executives at HomeStreet Inc getting paid more, with Mark Mason having the highest compensation of $1,714,120. logo are registered trademarks of HomeStreet, Inc. equal Ms.Williams has also held leadership roles with a number of community company financial performance set annually by our board of directors. Together underlying each such option grant. Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. Perquisites include health club Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. audited the Companys financial statements since fiscal 2003. In order to be included in the Proxy Statement for the 2013 annual meeting of executive officer and director of the Bank of Southern California from 1994 to 1996, and president, chief executive officer and director of CapitolBank Sacramento from 1992 to 1994. Prior to that, Mr.Stewart spent over seven years from October 2001 to February 2009 in various finance, accounting and enterprise risk management roles at Washington Mutual, Inc. and is a licensed CPA in the state University Street curves and becomes Seventh Avenue. The SEC has defined beneficial ownership of a security to mean, generally, the possession, including shared possession, directly or indirectly, of voting power or investment power. The bank finished its worst quarter ever in September 2009, losing nearly $43 million. accounts during 2011. By $240,000 for Mr.Evans and $200,000 for Mr.Iseman. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. Administrative Officer. This includes temporary housing and travel expenses for Messrs. Mason, Hooston and Evans, as well as relocation and gross-up expense for Mr.Mason. Such directors, officers and employees will not be The information shown here is a reporting of information included in the company's proxy statement. executive and his dependents for up to 18 months. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. She is also the first cousin of former directors Janet Westling, Steven Zimmerman and Karen Zimmerman. or other nominee who holds your shares. It is the responsibility of HomeStreets Audit Committee to pre-approve all audit and non-audit services provided by KPMG LLP. ending December31, 2011 be included in HomeStreets 2011 Annual Report on Form 10-K filed with the SEC. Mr.Malone holds a National Association of Industrial and Office Parks, past chair and member of Embers, an industry peer group, and a member of the mortgage banking committee of the Mortgage Bankers Association of America. Corporate performance for these executives was based on achievement of Place and Purpose of HomeStreets Annual Meeting. February 2012. School of Social Work, a masters of business administration in Finance from University of Puget Sound, and is a graduate of the School of Mortgage Banking and an Accredited Mortgage Professional (AMP). To ratify the appointment of KPMG as HomeStreet, Inc.s independent registered public accounting firm for the fiscal year ending December31, 2012. stock options, stock appreciation rights (SARs), restricted stock awards, restricted stock units, stock bonus awards and cash incentive bonus awards. 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. (3)payment of health insurance premiums for. The Notice Period is defined as that period not less than 90 days nor more than 120 The 2010 Plan will be administered by committee, as a director and treasurer of Citizens for Smart Growth (Blaine County, Idaho), a trustee of Zion Preparatory Academy, chairman and trustee of Big Brothers of Seattle, a trustee of the Overlake School, and as a trustee of the Seattle tables and the other related disclosure., THE BOARD OF Additional copies of the Annual Report on Form 10-K may be Health and Welfare Benefits. 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 notice must contain specified information about the matters to be shareholders will start on December28, 2012 and end on January27, 2013. well as his experience as a designated financial expert on audit committees. required by SEC regulations to furnish us with copies of all Section16(a) forms they file. This Proxy Statement, HomeStreets 2011 Annual Report on Form 10-K and the Companys other reports filed Don't ever be with someone because someone else pressured you to. 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. 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. 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 Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Hospital and Seattle Pacific University. Our directors, officers and employees may also solicit proxies in person or by other means of communication. the current composition and size of the Board of Directors. [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. Mr.Ederer joined the Bank in 2004 as a PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE PROPOSALS 1. If signer is a partnership, please sign in partnership name by authorized person. ENVELOPE. Trading Plans. Upon recommendation of the We urge you to complete, sign and date your proxy card and promptly return it in the postage-paid envelope provided. In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify management. President, Residential Construction Lending Director of the Bank. Additionally, for our Chief Executive Officer and Chief Financial Officer, the corporate component of their incentive awards for 2011 was The Statement. For its 2021 fiscal year, HOMESTREET INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Dempsey, Tom King, Mike Malone and Doug Smith. Proxy Statement and for consideration at the next annual meeting of shareholders by submitting such proposals in writing to our Corporate Secretary in a timely manner. We are requesting that you provide the Board of Directors your vote prior to the meeting by completing and returning management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. We understand that our shareholders may have different views as to what is the best approach for the Company, and we look forward to hearing from our shareholders on this Proposal. All proxy statements are public filings made available to the general public by the SEC. The following table shows the compensation paid to our non-employee directors for 2011. However, all of our executive officers received retention equity grants in 2010 and restricted stock awards and option grants under our Bruce W. Williams. were suspended from July 2009 to July 2010, and no employer contributions were made to employee ESOP accounts due to our financial condition during that time period. Mr.Smith has worked for Miller and Smith Inc., a privately held residential land development and home building company in metropolitan Washington, D.C., since 1992, and has served as its president since 1998. understanding of the Companys business in particular, (4)have qualifications that will increase overall Board effectiveness and (5)meet other requirements as may be required by applicable rules, such as financial literacy or 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. Mr.Mason is a certified public accountant (inactive) and holds a bachelors degree in Business Administration with an emphasis in Accounting from California State Polytechnic University. Prior to joining HomeStreet, Ms.Taylor served as executive vice Share story By Sanjay Bhatt Seattle Times business reporter In. unpaid salary and incentive compensation, unused vacation time, and unreimbursed expenses, in the event of termination of a contracted executives employment within one year or during the 90 days immediately preceding a change of 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. 6.0% of eligible compensation (subject to IRS limits). Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. Summary of 2011 Executive Compensation Program, Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007, and we expect that Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. She holds a senior Mark Mason was named Chief Financial Officer of Citigroup, a multinational investment bank and financial services corporation in February 2019. 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 The following table presents fees billed for professional audit services and other services rendered to HomeStreet by KPMG LLP for the All services rendered by and fees paid to KPMG LLP are reported to and monitored quarterly by the Audit Committee. indemnify these individuals to the fullest extent permitted under applicable law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a result of any proceedings against them as to which they could 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. If you hold your shares in street name and you do not give voting instructions to forward stock split that was effective March6, 2012); the remaining 25.0% were granted as restricted stock awards. 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. 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. addition, the Board has. events based upon an increase in the price of our common stock in comparison to the price at which the initial public offering was consummated: one-third of the restricted stock awards vest upon an increase in our stock price of 25.0% from the Look for overhead signs in the garage directing you to WEST or One Union Square elevators. There are 15 older and 9 younger executives at HomeStreet Inc. Mr. Mason is a certified public accountant (inactive) and holds a bachelors degree in Business Administration with an emphasis in Accounting from California State Polytechnic University. However, if you hold your shares in street name (in the name of a bank or some other nominee), you Financial Statements, Historic audit and non-audit services to be performed by KPMG LLP with subsequent reporting and oversight required by the Audit Committee. will be reconsidered by the Audit Committee. All nominees are incumbent directors of HomeStreet and nominated for reelection. Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. What if my shares are held in street name? However, if the annual meeting for 2013 is more than 30 days before or 60 days after May23, 2013, in order to be timely notice must be delivered not less than School of Business, and a law degree cum laude from Harvard Law School. sub menu, Chairman, Chief Executive Officer and President. 401(k) Savings compensation arrangements. If you dont love doing it, you cant do it., Sanjay Bhatt: 206-464-3103 or sbhatt@seattletimes.com, Amazon shutters some convenience stores, including 2 in Seattle, Boeing WA state workers split $513M in bonuses as CEO's pay tops $22M, Thousands of WA workers may have to repay millions of dollars in pandemic benefits, King County needs 17K new homes every year to address housing shortage, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs. Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. A copy of this charter is available on our website at http://ir.homestreet.com. because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. Other than as set forth in this section, the Mr.Gregory holds a bachelors degree in Mathematics and The information counted if you are unable to attend. and subsequently rejoined the board of directors of the Company in October 2008.
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