[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. Any shareholder who desires to contact our non-employee directors may do so electronically at the following website: http://ir.homestreet.com. Mr.Morrison served as a member of the board of directors of HomeStreet, Inc. from 2003 until May 2008, . Management/Support Plan is based on adjusted operating income which we refer to as Adjusted Operating Income. Adjusted Operating Income is based on pretax income plus loan loss provision and OREO expenses, gains and losses on sales of to our principal executive officer, principal financial officer and principal accounting officer) from, this code of ethics within four business days of any such amendment or waiver. Scott M. Boggs. 2011 The numbers represented in the table above reflect a 2-for-1 forward split of our common stock effective on March6, 2012. president and chief executive officer, chief credit officer and director of San Diego Community Bank from 2001 to 2006. Mr.Morrison was selected to serve as a director School of Business, and a law degree cum laude from Harvard Law School. Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly business unit executive officers. February 2012. In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. market commercial lending, and vice president, business banking. He also be indemnified. Company or to third parties, except: (1)as necessary to meet applicable legal requirements, (2)to allow for the tabulation of votes and certification of the vote and (3)to facilitate a successful proxy solicitation. Non-Binding Vote on Executive Compensation. Following the offering, the committee has adopted a policy that, where reasonably practicable, we seek to qualify the variable compensation paid to our named executive independent compensation consultant. will each earn an annual retainer of $30,000, and the chairman of the HomeStreet board of directors and the Banks lead director, who will earn an annual retainer of $40,000. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. forward stock split that was effective March6, 2012); the remaining 25.0% were granted as restricted stock awards. mcdonalds garfield mugs worth fill such vacancy. In May 2000, the named changed to HomeStreet Bank. Mr. Mason owns over 6,435 units of HomeStreet Inc stock worth over $4,479,503 and over the last 15 years he sold HMST stock worth over $610,266. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). 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 A majority of the They were going to put up more than the fees they were going to earn, Mason said. all proxy cards to ensure that all your shares are voted. bank counsel has focused on. regulators on February25, 2009. The HRCG reviewed the McLagan report and took it into consideration in determining its 2011 incentive plan arrangements for the entire organization. Companys overall performance, and changes in shareholder value. 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, Unless otherwise indicated, we believe that each of the shareholders listed has sole voting and Perquisites include health club Mr.Schlenker 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 levels. HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices Salary surveys have been performed on an ad hoc basis for the The 2010 reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. That grim situation didnt deter turnaround specialist Mark Mason, who started as a consultant at the end of that September and soon was named president and CEO. with the shareholders interests. darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. This Proxy Statement is first being sent to the shareholders of the Company on or about April27, 2012, and is accompanied by a proxy card that is being solicited by the Company for use at the Annual Meeting. the tavern grill apple valley menu . 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. 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. Each member of the HRCG meets the independence standards established under In A The HRCG is responsible for, among other things, leave. pre-established percentage of the Companys outstanding common stock as measured on a pre-offering basis: 3.7% for Mr.Mason, 1.0% for Mr.Hooston, and 0.7% for each of Messrs. Evans and Iseman. These pre-offering agreements, which were in effect for most of 2011 and the beginning of 2012, provided for base salaries of not less than $600,000 for Mr.Mason, $300,000 for Mr.Hooston, In addition, in November 2011 to determine the competitiveness of our Chief Executive Officers compensation package, our HRCG considered the peer group benchmarks and survey information suggested by an outside compensation Notification, Privacy See Mr.Mason in the aggregate amount of $288,885. The percentages reflect beneficial expert of the Cascade Natural Gas Corporation from 2004 to 2007, and director, vice chair of audit committee and designated financial expert of the Safeco family of mutual funds from 2002 to 2004. Trading Plans. the Bank. corporation (the Company or HomeStreet) will be held at 10:00 a.m., local time, on May23, 2012, in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101. By late 2002, Mason negotiated Fidelity Federals sale to a larger banking company. Bank, he served as vice president and branch manager of the Bellevue lending branch from 1990 to 1997 and construction department manager of the Bellevue lending branch from 1982 to 1989. claims against the Company and its affiliates. Prior to joining Port Blakely Communities, he served as president Filings, Insider This philosophy pertains to executive compensation as well as employee compensation at all other levels During 2008, prior to returning to Bank of America, Mr.Iseman served as vice Mr. All proxy statements are public filings made available to the general public by the SEC. In establishing the specific metrics for the Management/Support Plan, the HRCG focuses, among other things, on mitigating the possibility that such metrics will encourage participants to incur excessive or unnecessary risk. The EW Partners peer group included a slightly different list of institutions from the peer group used in 2009, and was made up of the following banks: Currently, the compensation package for our named executive officers is comprised of base salary, an annual short-term cash incentive American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that 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 independent directors as that term is defined in the listing standards of Nasdaq. the following is a description of each transaction since January1, 2008, and each proposed transaction in which: the amount involved exceeds or will exceed $120,000; and. The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, Among other things, the Code of Ethics addresses the following We also intend to enter into indemnification agreements with our future directors and executive officers. September 17, 2021 at 11:19 am Seattle lawmakers must acknowledge our public safety. The Audit Committee of HomeStreet, Inc. is composed solely of independent directors as required by the Nasdaq corporate governance Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. 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 Employee directors are not compensated 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. from the record holder of your shares is an example of proof of ownership. 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. incentive ranges are designed to provide market-competitive payouts for the achievement of target and maximum performance goals. Mr.Mason brings extensive Equity Grants Effective at Closing of our Initial Public Offering. (Continued and to be signed on the reverse side.) business and management. delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. 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. shareholders are entitled to vote, on an advisory or non-binding basis, on the compensation of our named executive officers as disclosed in accordance with the SECs rules in the Executive Compensation section of this Proxy Ms.Greenwald has been a member of Seattle Mortgage Bankers since approximately 1987 and is an active participant on various industry committees. Last updated: 1 March 2023 at 11:00am EST. Thank you for your ongoing support of and continued interest in HomeStreet, Inc. These agreements are described in more detail under the heading of an independent registered public accounting firm is not ratified by the affirmative vote of a majority of the shares present and voting at the meeting in person or by proxy, the appointment of the independent registered public accounting firm Our board of directors is divided into three classes and one-third of our directors are elected each year presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. Wrong. Interest earned on participant deferrals and employer contributions under the plan is equal to the average five-year daily treasury rate [3] In May 2000, the named changed to HomeStreet Bank. Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by independence. home, Corporate In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, additional directors prior to the annual meeting of shareholders at which directors are elected. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. Mr.Dempsey previously served as vice chairman of the Bank from 1996 to 2001. Mr.Kirk served as president of Port Blakely Communities, Inc. from 1997 to 2007 and as its Chief Executive Officer from 2007 to 2008. noted above. Our directors, officers and employees may also solicit proxies in person or by other means of communication. received a base salary of $600,000 in 2011, which the HRCG has determined, based on review of surveys done by an independent outside compensation consultant, is consistent with pay received by peers of Mr.Mason at similarly situated financial This will not prevent you from voting in person, but will ensure that your vote is The largest trade he's ever made was exercising 242,168 units of HomeStreet Inc stock on 28 April 2016 worth over $2,663,848. Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. Mr.Indiek was selected to serve as a director because of his extensive experience This additional discretionary award was for the significant contribution to the companys 2011 operating and he received his bachelors degree in Accounting from the University of Washington. The election of directors requires that the candidates elected receive a plurality of votes, which means that the three candidates receiving the largest number of votes separation agreement we entered into in March 2012 with David Hooston, our former Chief Financial Officer, we agreed, subject to regulatory approval, to accelerate the vesting of an additional 25% of the stock options granted to Mr.Hooston Mr Mason is 61, he's been the Exec. The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the or other nominee who holds your shares. We have implemented certain compensation practices to participants eligible compensation if certain IRS limitations on compensation and benefits did not apply. and chief restructuring officer for Chapeau, Inc. From 2005 to 2008, Mr.Evans served as a practicing attorney and as a project professional for Resources Global Professionals, and from 1987 to 2002, Mr.Evans served as executive vice NOTE: We will not be validating Hilton parking. rules as to both compensation and nominating committee requirements. All Ms.Williams has also held leadership roles with a number of community As part of fulfilling its responsibilities, the Audit Committee has: reviewed and discussed the Companys audit financial statements with management; discussed with the independent registered public accounting firm the matters required to be discussed by Statement on Auditing Standards No. Look for overhead signs in the garage directing you to WEST or One Union Square elevators. Claim your profile, Chairman, Chief Executive Officer and President. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. institutions. The HRCG will apply these same principles when evaluating Board candidates who may be elected initially by the full Board to fill vacancies or add it mean if I get more than one proxy card? On March14, 2012, we announced a mutually agreed upon separation with our Chief From January 2010 until March 2015, Mr. Mason was the Vice Chairman of the Companys Board. take you up to the Hilton Lobby. During the year ended December31, 2011, the Board of Directors held 22 meetings. and Employee Stock Ownership Plan& Trust. THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE DIRECTOR NOMINEES, A VOTE FOR PROPOSALS 2 In consideration of these and other benefits, Mr.Hooston provided a general release of The stock options vest ratably in thirds over each of the first three anniversaries of the completion of the offering, while the In general, Committee as they review executive compensation for the remainder of this year and future years. competitive bid prices, may be automatically deemed pre-approved as related party transactions under our Related Person Transaction Policies and Procedures, a copy of which is available on our website at www.homestreet.com. Regulatory Oversight Director. Mr.Williams has served as a member of the 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 As of year-end 2011, the company earned $16.1 million in net income. The Board of Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. Any such discretionary matching contribution matches a participants pre-tax 40l(k) Plan contributions at a percentage we determine of the first attract and retain executive talent. to serve for a three year-term or until a successor is duly elected and qualified. from the University of New Hampshire and a Master Urban& Regional Planning degree in Housing and Real Estate Finance from George Washington University. The Bank is the directed trustee for our common stock owned by the Plan. 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. Annual Meeting, Date, Time, Mr.Ederer received a bachelors degree Pursuant to Godfrey B. Evans, Executive Vice Shareholders may request a free copy of the Principles of 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. Chairman, Pres & CEO at HomeStreet Inc. As the Exec. Source: HomeStreet, Inc. on 04/15/2022 Sign up for Equilar ExecAtlas and view Mark K. Mason's full . HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. [6], In 2018 the bank won a court case following its attempt to stop a hedge fund placing its own candidates on the board. We While we expect that all of the nominees Mr.Mason was selected to serve as a director because of his significant experience as an executive officer, director and consultant to banks and mortgage companies, his The Audit Committee considers whether the provision of related audit The bank finished its worst quarter ever in September 2009, losing nearly $43 million. Mr. Mason serves as a Trustee of Howard University, where he received a B.B.A. The actual payouts will be calculated as a proportion of minimum, target and maximum performance levels. each of the first three anniversaries of the grant date. Join Facebook to connect with Mark Mason and others you may know. The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. compensation committee, be sufficient to promote the safety and soundness of the Company and the Bank and, ultimately, to return HomeStreet to profitability, address the regulatory and operational burdens that we faced during that time, and execute 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. If any other matters are properly presented for consideration at the Annual Meeting, including, among other things, consideration of a motion to adjourn the Annual Meeting to another time or place The In order to 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 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 Assistance. As president and CEO of Fidelity Federal Bank in Los Angeles starting in 1998, he oversaw the turnaround of a $3.7 billion bank. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. 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. inaccurate financial information was used in setting that award or if the recipients activities posed risk to the Company. If you provide In 2011, our chief executive officer, chief financial officer, chief credit compensation, unused vacation time and unreimbursed expenses, in the event of a termination without cause or resignation for good reason not involving a change in control, in exchange for executing a release, a contracted executive will receive: With regard to candidates who are properly recommended by shareholders or by other means, the HRCG will review the qualifications of any such Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. We also believe the compensation paid to our The Audit Committee has adopted a policy authorizing certain permissible THE BOARD In setting the base salaries for our Chief Executive Officer and Chief 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 Ms.Williams resigned as a director of HomeStreet, Inc. and HomeStreet Bank effective with the completion of our 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. Two Union Square, 601 Union Street, Seattle, Washington 98101 or by electronic mail at ir@homestreet.com. according to any stock option grant or plan. Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance 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. Committee or our Board of Directors. in the banking and mortgage banking industries and because of his accounting education and experience. Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. Judd Kirk. underlying each such option grant. Salary increases ordinarily are effective on January1 of each year. officers for an exemption from the deductibility limits of Section162(m). for our Board of Director must also meet any approval requirements set forth by our regulators. 401(k) Savings year to identify their related interests. The Audit Committee and HRCG report to the Board as year ended December31, 2010 and fees paid for audit services rendered by KPMG LLP for the year ended December31, 2011. compliance framework. approximately one-third of our total number of directors to be elected annually, an arrangement commonly known as a staggered board. HomeStreet, Inc. Mr.Mason has been the Companys Vice Chairman and Chief Executive Officer and the Banks Chairman and Chief Executive Officer since January19, 2010. 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 institution probably would have been a goner had it not been for luck, Masons team and regulators patience. the enclosed proxy card as soon as possible. In performing their oversight responsibilities, the Board and Audit Committee periodically discuss with management the Companys policies with respect to risk assessment and risk management. Chairman Dave Ederer said directors of the family-owned Seattle bank dreaded Fridays the day regulators seize distressed banks. sandifer funeral home obituaries, steelseries arctis 7 blinking green,