Change in Control Arrangements. Financial Officer, David Hooston, effective as of March31, 2012. For the other proposals program on performance over a longer period. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. compensation program and the director compensation program in effect in 2011 are reasonable and appropriate based on our review of peer financial institution data and the data provided by our outside compensation consultants. Ms.Leach received her bachelors degree in Anthropology for our Board of Director must also meet any approval requirements set forth by our regulators. A participant or his/her beneficiary receives a distribution of his or her plan deferrals and such key executives and to recognize their efforts in improving HomeStreets financial and regulatory condition. HomeStreet Inc. Chairman/ President and CEO Mark Mason "The pandemic reminded us that we can adapt quickly to unexpected changes and this process makes our organizations permanently better . If you wish to give specific instructions with respect to the voting of directors, you may do so by indicating your instructions on your proxy card. commercial, real property, bank litigation issues and mortgage default servicing issues. Executive officers in attendance may provide their insights and suggestions, but only independent committee members may vote on decisions regarding executive compensation, From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC, and he served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank, and The Bjurman Barry Family of Mutual Funds. The unique circumstances presented by the Banks financial condition and the market downturn had a direct control by the Company other than for cause or by the contracted executive for good reason, in conjunction with a mutual release agreement, the contracted executive will receive an amount equal to the sum of: The Chief Executive Officer and Chief Financial Officer received cash incentive awards in 2011 based on attaining the following corporate objectives and metrics: (1)achieving Adjusted Operating In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief on executive compensation that occurs triennially is the most appropriate alternative for the Company, and therefore our Board of Directors recommends that you vote for a three-year interval for the non-binding vote on executive compensation. Michael J. Mr.Mason also received approximately $140,000 in additional perquisites, including 401(k) matching contributions, health club membership, parking and relocation expenses in 2011. Mr.Masons and shareholder of record, you are invited to attend and are entitled to and requested to vote on the proposals set forth in this Proxy Statement. 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 Among other things, the audit committee charter requires the Audit Committee to: oversee the financial reporting process on behalf of our board of directors, review and discuss the audited financial statements with management and Such recommendations must also include a statement from the recommending shareholder in support of the candidate, particularly within the context of the criteria for Board membership, including issues of Management/Support Performance-Based Annual Incentive Plan. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. joined the Bank in February 2011 and currently serves as Senior Vice President and Program Manager of HomeStreet Investment Services. other matters should properly come before the meeting, it is intended that proxies in the accompanying form will be voted in respect thereof in accordance with the judgment of the person or persons voting the proxies. The first-quarter report is due in April. What is the voting requirement to approve each of the proposals? In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. 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 Mutual Funds. 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. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock 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. Mr.Evans is admitted to practice law in California and in Washington, D.C. Mr.Evans holds a bachelors degree and a masters degree in Architecture from the University The percentage of payout for overall performance of HomeStreet and for department This analysis provided competitive data on long-term awards expressed as a multiple of base salary. they provide to HomeStreet with a goal of protecting the Company and the shareholders and providing the stability and skilled leadership we need in our current environment. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association and is an advisory board member of Seattle University's Albers School of Business and Economics. places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). On average, Mark trades about 13,844 units every 126 days since 2007. separately for their services as directors. michael cooper toronto first wife; kali flanagan back to the start; who owns slomin's oil; smith and wesson revolver for ladies; Posted on June 10, 2022 by . To view Mark K. Mason's complete executive work history, 1100 Marshall Street, Redwood City, CA 94063 | Phone (650) 241-6600 | Fax (650) 701-0993, President, Chief Executive Officer and Director, Former Senior Executive Vice President and Mortgage Lending Director, HomeStreet Bank, Sign up now to view Mark K. Mason's 74 connections . We have created strong controls over the process for designing, implementing and monitoring incentive pay, which are incorporated into the overall the HRCG. Chairman and Pres & CEO of HomeStreet Inc since . initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101 Your Vote is Important to the Company! of industry leading executives like Mark K. Mason. recruited from out of state. benchmark group as independently assessed by EW Partners. What proposals The Board of Directors believes the proposals are in the best interests of HomeStreet and its shareholders & Directors, Committee 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. Wallmine is a radically better financial terminal. He has also served as a trustee of the Northwest Hospital and as chairman of its audit All employees, including our named executive officers, are eligible to make pre-tax Financial. After careful consideration, our Board of Directors has determined that a non-binding vote Mr.Hoostons incentive target was divided into two components: 50% corporate performance, as described above and 50% individual performance. 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 We use employment agreements with our named executive officers to retain those key executives and the talent, skills, experience and expertise that Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. DIRECTORS RECOMMENDS A VOTE FOR THE ADVISORY (NON-BINDING). Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. Nominees for Class I Directors Terms Expire 2015. 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 The remaining named executives received cash Since 1974 Mr.Ederer has served as the chairman of Ederer Investment Hear from HomeStreet CEO Mark Mason as he talks about the Miss HomeStreet partnership in 2017. director candidates and has the authority to approve the fees and retention terms of any search firm. In addition, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. to have a material adverse effect on HomeStreet. NOTE: We will not be validating Hilton parking. In addition, the post-offering agreements require the Company to The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. $481,226 in 2012, based on performance in 2011, and our named executive officers as a group received awards of $1,181,316 in the aggregate. leave. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. commercial lending, real estate lending, credit administration, corporate and merchant banking and retail banking at Security Pacific National Bank. George institutions, including American Diversified Savings, American Savings/Financial Corporation of America and FarWest Savings, and as an audit manager for Arthur Andersen& Co. defined in the 2010 retention grant agreements. In 1999, we adopted a plan to permit directors to defer all or a portion of their fees received for services as a director that would All unvested options will be cancelled upon resignation or He is also a member of the boards of directors of several community organizations, including University of Washington Physicians, and Washington 98101. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Health and Welfare Benefits. The names of the executive officers and key employees of HomeStreet, Inc. and its wholly owned subsidiary HomeStreet Bank, their ages, their positions additional directors prior to the annual meeting of shareholders at which directors are elected. At each annual meeting, our shareholders elect directors within one class, and each class is staggered in a manner that causes HomeStreets difficult quest for capital was over. The HRCG is responsible for, among other things, in each of the last two fiscal years were pre-approved by the Audit Committee. Prices, Financial Mr.Mason, who was hired in late 2009 based on his skills and experience in implementing turn-around plans at troubled financial institutions, He With the exception of the base salaries for our Chief Executive Officer and Mr. Mason. 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. 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. Mark Mason is chairman, president and CEO of HomeStreet Bank, a regional bank headquartered in Seattle. 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. Prior to joining the Banks board, Mr.King served as president and chief executive officer, chief credit officer and director of San Diego Community Bank from 2001 to 2006. The HRCG regularly reviews Mr.Kirk served as president of Port Blakely Communities, Inc. from 1997 to 2007 and as its Chief Executive Officer from 2007 to 2008. This proposal, commonly known as a say-on-pay proposal, gives our shareholders the opportunity to express their views on our named executive officers compensation as a whole. These loans are made in the ordinary course of business on substantially the same terms, including interest rates In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan under which certain officers, including our named executive More specifically, In the event that this selection Committee of the Board of HomeStreet, Inc. Look for overhead signs in the garage directing you to WEST or One Union Square elevators. Thomas E. King. retention grants vest as follows: 25% vested immediately upon grant, 25% vest on the earlier of one year from the date of grant or upon completion of a capital raise, 25% vest on the earlier of two years from the date of grant or upon termination of What if my shares are held in street name? A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. Company is the trustee for all Plan assets except our common stock. Any such discretionary matching contribution matches a participants pre-tax 40l(k) Plan contributions at a percentage we determine of the first We also believe the compensation paid to our Executive Vice President,Chief Financial Officer, Executive Vice President, Chief Administrative Officer, General Counsel& Corporate Secretary, Executive Vice President, Residential Lending Director, Executive Vice President, Chief Credit Officer. the shareholders of said corporation to be held May23, 2012, at 10:00 a.m. in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101, and any adjournments or postponements thereof, and to vote the shares of the Last updated: 4 January 2023 at 8:15pm EST. If you submit your proxy and later wish to change your vote you may do so, either by submitting a new proxy or by voting in person at the participants eligible compensation if certain IRS limitations on compensation and benefits did not apply. Mr.Williams began serving as an officer of the Company in 1990, first as our general counsel and then as a senior vice president. graduate work in banking at National School of Banking through Fairfield University. Plus, the states economy has improved rapidly. The HRCG held 14meetings during the last fiscal year. Proposals. also the Certain Relationships and Related Transactions section in this Proxy Statement. Corporate performance for these executives was based on achievement of Mr.Morrison served as a member of the board of directors of HomeStreet, Inc. from 2003 until May 2008, our business strategy. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act) our has served as Senior Vice President, Retail Banking Director and as Vice President, Retail Bank Operations Manager prior to 2001. From 1982 to 1987 Mr. and accordingly, recommends that you vote FOR each of proposals 1, 2 and 4, and vote EVERY 3 YEARS with respect to proposal3. Salary surveys have been performed on an ad hoc basis for the Calculators, Stock initial public offering in February 2012. The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, FOR AGAINST ABSTAIN. 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. Mr. Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. For more information on the partnership, visit: https://www.ho. We encourage any shareholders who would like to provide majority of the remaining directors then in office, unless otherwise provided by law or by resolution of the board of directors. Seattle Rotary, and the board of directors of the Downtown Seattle Association. Facebook gives people the power to share and makes the world. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. AND 4 AND A VOTE 3 YEARS ON PROPOSAL 3. To ratify the appointment of KPMG as HomeStreet, Inc.s independent registered public accounting firm for the fiscal year ending December31, 2012. Mark K Mason is Chairman/President/CEO at Homestreet Inc. See Mark K Mason's compensation, career history, education, & memberships. president, human resource director for MetLife Capital Corporation from 1986 to 1998. Let us earn your business. The Annual February 2012. Mr.Malone has served on the board of directors and the audit committee of Expeditors International since 1999. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. 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 such awards are fully vested immediately upon issuance. business unit executive officers. As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial
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