Ownership, Proxy
Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior 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). participants in this plan for the year ended December31, 2011. 2012. The 2010 Plan allows for a range of equity grants, including stock options, restricted stock or restricted stock units, stock bonuses or Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. For the other proposals The Audit Committee considers whether the provision of related audit Board since 2004. ADVISORY (NON-BINDING) VOTE ON EXECUTIVE COMPENSATION. We paid out amounts earned under the Management/Support Plan In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify See corporate controller from 1998 to 2003. All employees, including our named executive officers, are eligible to make pre-tax He spent the next five years as a consultant to banks and mortgage lenders. 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. 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. Look for the sign indicating the parking garage entrance on the left side of the street. The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, Mr.Malone joined the Board of Directors of HomeStreet, Inc. upon the closing of our initial public offering in Susan C. Greenwald, Senior Vice President, Single Family been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. The meeting will be held in the Winward Room on the lobby level of the Hilton. 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 From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. [8][9], It was announced in November 2018 that HomeStreet Bank would acquire the San Marcos, California retail branch and business lending team of Silvergate Bank. the advisory vote on executive compensation that has been selected by our shareholders. FOR AGAINST ABSTAIN. In addition to the prohibitions against solicitation of customers and employees How does the Board of Directors recommend I vote? The Audit Committee and HRCG report to the Board as as possible so that your shares are represented. We Regulation O generally defines a principal shareholder as a person that directly claims against the Company and its affiliates. In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for And the bank is launching a unit catering to affluent customers with up to $1 million in net worth. purposes of hiring employees but as no base salary increases have been granted to any named executive officers since 2008, no base salary surveys were conducted during 2009, 2010 or 2011 other than the Chief Executive Officers base salary, high-performance culture. We do not currently anticipate that any other matters will be raised at the Annual Meeting. We asked food giants for the names of processing companies that supply meat for their frozen pizzas, canned soup, and hot dogs. She is an associate member for the Corporate Council of the Arts. Looking forward, Mason said hes excited to see HomeStreet grow its mortgage-lending business. He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. 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 Mr.Williams holds a bachelors degree in History from Stanford University and a law degree from the Douglas I. Smith. A. copy of this charter is available on our website at http://ir.homestreet.com. Don't ever be with someone because someone else pressured you to. By This report is not for commercial use. The HRCG typically considers several factors when setting the base Subsequently, None of the members of the HRCG served as an officer or employee of HomeStreet during fiscal year 2011 The following table sets forth the beneficial ownership of our common stock as of April 2, 2012, by: each of the directors and named executive officers of HomeStreet, Inc.; all of our directors and executive officers as a group; and. the Companys auditors and report the results of its activities to the board; be responsible for the appointment, retention, compensation, oversight, evaluation and termination of our auditors and review the engagement and This Proxy Statement, HomeStreets 2011 Annual Report on Form 10-K and the Companys other reports filed long-term company-wide goals of safety and soundness, increased shareholder value and risk management. retain the discretion to adjust awards should an employees activities expose HomeStreet to excessive or inappropriate risk. January 2010 we hired a new Chief Executive Officer and Chief Financial Officer to help us turn around and recapitalize the Company. 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. not required by our bylaws or other applicable legal requirements. 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 In the case of a loan please cross through the name of the relevant nominee and clearly print the name of your proposed director alongside the stricken candidate. However, all of our executive officers received retention equity grants in 2010 and restricted stock awards and option grants under our and to vote at the Annual Meeting. business unit executive officers. once every six years, how frequently we should seek a non-binding vote on the compensation of our named executive officers, as disclosed pursuant to the SECs compensation disclosure rules, such as Proposal Two of this Proxy Statement. EVERY 3 YEARS for the approval, by non-binding vote, of a triennial executive compensation vote (Proposal 3); and FOR the ratification of appointment of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year During the year ended December31, 2011, the Board of Directors held 22 meetings. About Us. Lending Operations Director of HomeStreet Bank. Management Director of the Bank. The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the bachelors degree from the University of Washington. The information restricted stock awards vest upon the occurrence of an increase in the price of our common stock in comparison to the initial public offering price of $22 per share: one-third of the restricted stock awards vest upon an increase in our stock price Mr.Dempsey was selected to serve as a director because 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. Without a quorum, no business may be transacted at the Annual Meeting. In mid-2009, HomeStreet Bank appeared headed for oblivion. Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year they will continue to be so impacted for the foreseeable future. While we have not established specific minimum qualifications for director candidates, we believe that candidates and nominees must reflect a Board The Board of Directors has determined that, with the exception of Mark Mason and Bruce Williams, all of its current members are Still, he said he knew the odds in late 2009 were poor for the banks survival if it bet only on revamping its operations. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief 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. Powered By Q4 Inc. CONNECT with Mark K. Mason through your network of contacts. ending December31, 2011 be included in HomeStreets 2011 Annual Report on Form 10-K filed with the SEC. Where can I find the results of the Annual Meeting? for all employees, including non-executive officers. Participation levels in all incentive commercial lending, real estate lending, credit administration, corporate and merchant banking and retail banking at Security Pacific National Bank. In accordance with Mr.Masons employment agreements with the Company, as of March26, 2012, the date of the lifting of the cease and desist order imposed on the Bank, Mr.Masons base salary decreased to Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act) our Ms.Williams is the sister of Prior to working at HomeStreet, Mr. Williams served for two years in the U.S. Peace Corps as a college professor in Liberia. Mr. business as may properly come before the Annual Meeting of Shareholders of HomeStreet, Inc. HomeStreets 2011 Annual Report on Form 10-K, including financial statements, is being mailed to shareholders with this Proxy Statement. Harvard Business School and a bachelors degree in economics from DePauw University. View All Leadership Share Bio All 2010 retention grants will become vested and exercisable immediately upon a change of control of HomeStreet, Inc., as 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. HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. report and a proxy card. The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. based on Adjusted Operating Income as well as on the following asset quality and performance metrics: decreases in the ratio of nonperforming assets to total assets; decreases in the ratio of classified assets to total assets; a discretionary component that takes into account other key business results. After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s 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 Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. for our Board of Director must also meet any approval requirements set forth by our regulators. OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Data Fraud Is Focus To Bolster Chinas Lackluster Carbon Market, China Gives New Backing to Coal Even as Clean Energy Accelerates, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Based on such review and discussion, the members of the HRCG have recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this Proxy Statement. See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. Award opportunity levels, expressed as a percent of salary, have been set for each eligible employee for each plan year. Take the Seneca Street exit, (exit 165), on the left side of the freeway. A quorum refers to the number of shares that must be represented at a meeting in order to lawfully conduct business. We will post on our website any amendments to, or waivers (with respect Financial Officer, the HRCG considered the peer group benchmarks suggested by an. 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. financial expertise with respect to audit committee members. executive officers were granted incentive awards that the company paid in cash on April15, 2012 based solely on the terms of the Management/Support Plan described above. In 2011, we also entered into new employment agreements (the post-offering agreements) with each of the differenza tra associazione culturale e associazione di promozione sociale. Wallmine is a radically better financial terminal. We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that 401(k) Savings To change the address on your account, please check the box at right and indicate your new address in the address space above. 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. Additional copies of the Annual Report on Form 10-K may be Please note that changes to the registered name(s) on the account may not be submitted via this method. 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. He previously served as chairman. Mark Mason is on Facebook. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. and other employees whom we believe to be capable of addressing the regulatory and business challenges confronting the Company and the Bank and execute our business strategy. 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. Repertory Theatre. Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. Together What proposals 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. President, Residential Construction Lending Director of the Bank. 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. Executive Compensation below. The unique circumstances presented by the Banks financial condition and the market downturn had a direct In the event of termination for cause, all unvested to serve for a three year-term or until a successor is duly elected and qualified. Although HomeStreet does not have a formal policy regarding attendance by members of the Board of Directors at our annual meeting of unvested at the time of his separation and therefore were forfeit on March 31, 2012. KPMG LLP has As a result of that review no adjustment was made to our Chief Executive Officers compensation package. From time to time, the Bank remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. 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.. Executive Prior to his current position with the Bank, he was the Vice President, The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle As of year-end 2011, the company earned $16.1 million in net income. Darrell S. Van Amen A majority of the 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. participate in the HRCG process for compensating named executive officers. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. Committee of the Board of HomeStreet, Inc. Your vote is important. The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. We awarded a special, one-time performance and retention incentive bonus to certain key executives in the second half of 2010 to incentivize and retain into consideration in making compensation decisions for 2011 or any prior years. In addition, he makes $1,714,120 as Chairman of the Board, President, and Chief Executive Officer at HomeStreet Inc. Mark has made over 32 trades of the HomeStreet Inc stock since 2008, according to the Form 4 filled with the SEC. Process The Audit Committee held 14meetings during the last fiscal year. rules of Nasdaq. With regard to candidates who are properly recommended by shareholders or by other means, the HRCG will review the qualifications of any such full corporate name by duly authorized officer, giving full title as such. 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 He graduated cum laude with a bachelors degree in accounting and an MBA from the University of Utah. submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. KPMG. Based on the results of this assessment, we do not believe that our compensation policies and practices for all employees, including non-executive officers, create risks that are reasonably likely Executive Officer. Proxy Statement Pursuant to Section14(a) of the, Filed by the Registrantx Filed by a Party other than the shareholders. 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 With the exception of the base salaries for our Chief Executive Officer and Michael J. Paulette Lemon, Senior Vice President, Retail Banking Director of the Bank. Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. such beneficial owners. Each member of the HRCG meets the independence standards established under you'll be able to: Access over 1,500,000 executive and board member profiles. Executive officers, directors and greater than ten percent shareholders are Statement. independence. #H1Rewind Who's "the best team in racing"? complex from the freeway on-ramp). The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. of 25.0% from the 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. Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the Mark Mason is chairman, president and CEO of HomeStreet Bank, a regional bank headquartered in Seattle. All notices of proposals by shareholders, whether or not included in our proxy materials, should be sent to our Corporate Secretary at our principal executive offices. Prior to joining Port Blakely Communities, he served as president Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. consulting services to banks and other financial services companies. Filings, Insider
appointment, compensation and oversight of the audit work of the independent registered public accounting firm. deems necessary or proper. By late 2002, Mason negotiated Fidelity Federals sale to a larger banking company. For determining competitive pay for our Chief Mr. Mason brings extensive business, managerial and leadership experience to our Board. Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. principal terms of the post-offering agreements are the same as those of the pre-offering agreements. Mr.Mason in the aggregate amount of $288,885. Ms.Greenwald has been a member of Seattle Mortgage Bankers since approximately 1987 and is an active participant on various industry committees. University of Washington School of Law. A recent brokerage statement or a letter executive and his dependents for up to 18 months. initial public offering. awards granted effective upon the completion of such offering. the current composition and size of the Board of Directors. HomeStreet scooped up business as the nations biggest lenders pulled back on new mortgages to limit their exposure, said Trepp analyst Matthew Anderson. designated executive officers to defer annually all or part of their incentive bonus and to receive an employer contribution equal to the additional employer contributions, if any, that would have been made to the 40l(k) Plan and ESOP based on The Bank is the directed trustee for our common stock owned by the Plan. Union& Two Union Square share underground parking. Since 1974 Mr.Ederer has served as the chairman of Ederer Investment HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices The #MissHomeStreet team, of course. Each of the directors attended or participated in He became Chairman of the Board of the Company in March 2015 after serving as Vice Chairman of the Board since January 2010. Annual Meeting, Date, Time, As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. 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. Gerhardt Morrison. Share story By Sanjay Bhatt Seattle Times business reporter In. Who is paying Mark Mason serves as the CEO / President of HomeStreet. TRIENNIAL VOTE AS THE FREQUENCY WITH WHICH SHAREHOLDERS ARE PROVIDED AN Insider Trading Policy and Rule 10b5-1 There are 15 older and 9 younger executives at HomeStreet Inc. Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. 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, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable sub menu, Chairman, Chief Executive Officer and President. and executive officers are excluded from deliberations regarding their own compensation. Our Board is divided into classes of directors, with each class serving a three-year term. completed initial public offering, in addition to the application of Regulation O to certain related-party transactions, we have followed formal conflict of interest policies requiring the review and pre-approval of transactions with a related party Mr.Morrison served as a member of the board of directors of HomeStreet, Inc. from 2003 until May 2008, You may also find the annual proxy statement by going directly to the company's website. In addition, on November29, 2010, other of our executive officers received 2010 retention grants with an exercise price ranging Chairman, Pres & CEO at HomeStreet Inc. As the Exec. Prices, Financial
61 Health and Welfare Benefits. additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with such solicitation. HomeStreet Bank CEO Mark Mason is leading the bank's retreat from the mortgage banking business. Mr.Boggs joined the Bank in 2006 as a member of the board of directors and became a director of HomeStreet, and he received his bachelors degree in Accounting from the University of Washington. For 2010 and 2011, we also provided reimbursement for temporary housing, relocation and personal travel for our Chief Executive Officer, Chief Financial Officer and Chief Administrative Officer/General Counsel who were Please note that requests for investor relations materials should be sent to ir@homestreet.com. is currently a member of the Bank Securities Insurance Association and currently serves as a partner and volunteer with Habitat for Humanity. oregon farms carrot cake recipec'est dans les moments difficiles citationc'est dans les moments difficiles citation Mr.Malone holds a Prior to joining the Bank, Ms.Kanealii served Bank of America as senior vice president and senior relationship manager for middle our peers as well as internal parity. marketing assistant and has served in a number of lending-related management roles. Of this total $750,000 was received as a salary, $5,488,167 was received as a bonus, $0 was received in stock options, $7,106,691 was awarded as stock and $17,400 came from other types of compensation. executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr.Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that Employer ESOP contributions are determined based on the attainment of goals for overall brought before such meeting and about the shareholder proposing such matters, including information related to the shareholders ownership interest in the Company and any material interests of the shareholder in the business desired to be The equity compensation awards targeted ownership potential of a THE BOARD Executive Deferred Compensation. Shareholders section elsewhere in this Proxy Statement. Meeting, proxy statement and proxy card are available at www.homestreet.com/proxy Please sign, date and mail your proxy card in the envelope provided as soon as possible. OF DIRECTORS RECOMMENDS A VOTE FOR THE RATIFICATION OF THE APPOINTMENT This plan was adopted to further reduce expenses and preserve capital. Prior to joining the Bank, Mr.Boggs was employed by Microsoft Corporation from 1993 to 2003 where he served in a variety of positions including vice president, The Board of Directors believes the proposals are in the best interests of HomeStreet and its shareholders the Cascade Land Conservancy Advisory Board. Mr.Schlenker was previously president of Sterling Savings Banks investment subsidiary from January 2004 The names of the executive officers and key employees of HomeStreet, Inc. and its wholly owned subsidiary HomeStreet Bank, their ages, their positions from the University of New Hampshire and a Master Urban& Regional Planning degree in Housing and Real Estate Finance from George Washington University.