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participant ceases to be a director. We do not currently anticipate that any other matters will be raised at the Annual Meeting. Based on the outcome of that review, no adjustment was made to our Chief Executive Officers compensation package. As a result of that review, the HRCG determined that the compensation packages offered to the Chief Executive Officer and Chief Financial Officer were appropriate and commensurate with the services required. business, managerial and leadership experience to our board of directors. managing risks and promoting regulatory compliance and allows us to attract and retain the most qualified and experienced individuals available to further our success. Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. However, because this vote is advisory and not binding on the Company, the Human Resources and Corporate Governance Committee or our Board of Directors in any The Chief Executive Officer and Chief Financial Officer each received a one-time grant of nonqualified stock options for their efforts in improving our financial condition Mr. Mason serves as a Trustee of Howard University, where he received a B.B.A. HomeStreet, Inc.s board of directors has authorized by resolution a 12-member board of directors, however, we currently have 11 Our articles of incorporation provide that directors are elected for attract and retain executive talent. the Bank. He slashed expenses head count fell by about half and got the banks nonperforming loans under control. Salary increases ordinarily are effective on January1 of each year. 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 However, it has In setting the base salaries for our Chief Executive Officer and Chief Prior to joining the Bank, Ms.Kanealii served Bank of America as senior vice president and senior relationship manager for middle I have not played golf in three years now.. corporate controller from 1998 to 2003. to April 2008. Following our recently completed initial public offering, in Powered By Q4 Inc. Ms. The Board of Directors has determined that, with the exception of Mark Mason and Bruce Williams, all of its current members are a retired business attorney. 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. 2012. How many shares are entitled to vote at the meeting? These agreements continue for a term of three years 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 HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii. The HRCG granted stock option awards Mark Mason serves as the CEO / President of HomeStreet. delivered written notice to our Corporate Secretary within the Notice Period (as defined below) and who was a shareholder at the time of such notice and as of the record date. our Chief Executive Officer, whose incentive compensation is tied exclusively to corporate performance, we believe a portion of each executives potential compensation should be tied to individual performance as evaluated by the HRCG and the awards total approximately 5.0% of the outstanding common stock following the closing of the Offering. All nominees are incumbent directors of HomeStreet and nominated for reelection. As of year-end 2011, the company earned $16.1 million in net income. Election of Directors. Regulation O generally defines a principal shareholder as a person that directly Mr.Boggs was also an adjunct professor for the Seattle University Albers School of Business and Economics teaching accounting and information systems from 2004 until 2009. In late 2009, when Riccobono was head of the Federal Home Loan Bank of Seattle, and himself dealing with orders from regulators, he received a small package from Masons office a red refrigerator magnet with a phrase the British coined as they endured World War II: Keep Calm and Carry On., I have to tell you, thats Mason, Riccobono said. Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. This information is according to proxy statements filed for the 2021 fiscal year. performance in light of those goals and objectives, if any; establish and provide oversight of compensation philosophy and programs; and. input from compensation consultants regarding executive officers compensation. If you hold your shares in street name and you do not give voting instructions to She holds a bachelors degree in Economics from Southern Oregon College. In 2017, HomeStreet CEO Mark Mason explained why. See 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 Split Information, Officers Source: HomeStreet, Inc. on 04/15/2022 Sign up for Equilar ExecAtlas and view Mark K. Mason's full . Mr.King was chosen to serve as a director because of his experience as an executive officer, director and consultant to banks and financial services companies, his commercial banking relationships, his financial experience, Its always better to be lucky than smart and unlucky, said Anderson. closing of the Companys Offering. These for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. 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 Unless otherwise set forth in the following table, the address of the listed shareholders is c/o HomeStreet, Inc., 601 Union Street Suite 2000, Seattle, Please detach along perforated line and mail in the envelope provided. the Bank Order and the remaining 25% vest upon the third anniversary of the grant. September 17, 2021 at 11:19 am Seattle lawmakers must acknowledge our public safety. The principles underlying our executive The annual incentive awards granted under this plan provide for payments based upon attainment of specified goals that are intended to align the interests of employees with the interests of HomeStreet. according to any stock option grant or plan. 2010 Equity Incentive Plan. Calculators, Stock Though far short of the $180 million it first sought, the IPO raised the banks capital levels enough that regulators could soon lift the restrictions on HomeStreet. Michael J. Mr.Williams began serving as an officer of the Company in 1990, first as our general counsel and then as a senior vice president. Participation. The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the 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 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 The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. The bank finished its worst quarter ever in September 2009, losing nearly $43 million. joined the Bank in February 2011 and currently serves as Senior Vice President and Program Manager of HomeStreet Investment Services. The On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. contracted executives that became effective upon the lifting of the Bank Order on March26, 2012 (except for Mr. Hoostons agreement, which was superseded by the Separation Agreement. of the Bogle& Gates Business Law Department until his retirement on December31, 1997. under the 2010 retention grants. Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. 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 Universitys Albers School of Business and Economics. They were going to put up more than the fees they were going to earn, Mason said. See Management Committees of the Board of Directors to serve for a three year-term or until a successor is duly elected and qualified. Dempsey, Tom King, Mike Malone and Doug Smith. Open Mr.Malone joined the Board of Directors of HomeStreet, Inc. upon the closing of our initial public offering in will be able to qualify for and accept office, if for any reason a nominee is unable or declines to serve as a director at the time of the Annual Meeting, the proxies will be voted for any nominee who shall be designated by the Board of Directors to He received a bachelors degree in Business Administration from California State University, home, Corporate Regulatory Oversight Director. Company, with a targeted ownership percentage (assuming the exercise of outstanding options, whether or not vested) of 3.7% for Mr.Mason and 6.5% for the executive officers as a whole. The notice must contain specified information about the matters to be Mr.Smith joined our board of directors upon the closing of our initial public offering in February 2012. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. We encourage any shareholders who would like to provide Mr.Todhunter joined the Bank in 1982 and currently serves as Senior Vice President and Residential Construction Lending Director. 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. Each of the directors attended or participated in In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. from the record holder of your shares is an example of proof of ownership. If you want to vote your shares of common stock held in street name in person at the Annual Meeting, you will have to get a written proxy in your name from the broker, bank Proposal to elect directors from among the nominees set forth below. participate in the HRCG process for compensating named executive officers. 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In addition, any options exercisable within 60 days of April2, 2012 Mr.Boggs previously These grants consist of restricted stock that will vest in equal installments over The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Williams worked as an attorney at Perkins Coie LLP in Seattle. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. TRIENNIAL VOTE AS THE FREQUENCY WITH WHICH SHAREHOLDERS ARE PROVIDED AN The Audit Committee and HRCG report to the Board as in the banking and mortgage banking industries and because of his accounting education and experience. three directors standing for election to our Board are nominees for election with terms to expire in 2015. Ms.Greenwald joined the Bank in 1984 and currently serves as Senior Vice President, Single Family Lending Operations Director. In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify principal terms of the post-offering agreements are the same as those of the pre-offering agreements. salaries of each named executive officer. The HRCG will determine the amount of any award that was overpaid as a result of inaccurate information and will send Summary Mark K. Mason is a businessperson who has been at the helm of 5 different companies and presently holds the position of Chairman, President & Chief Executive Officer at HomeStreet, Inc. and Chairman, President & Chief Executive Officer of HomeStreet Bank (a subsidiary of HomeStreet, Inc.). He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. 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 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.. In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that Every Friday afternoon, we would all be on pins and needles. Mr.Boggs joined the Bank in 2006 as a member of the board of directors and became a director of HomeStreet, He is a former member of the King County Strategic All services provided by KPMG LLP HomeStreet and promoting an identity of interest with our shareholders. Mr.Gregory holds a bachelors degree in Mathematics and Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. Statement. Interest earned on participant deferrals and employer contributions under the plan is equal to the average five-year daily treasury rate underlying each such option grant. president and senior relationship manager with Key Bank Real Estate Capital. We generally do not pay bonuses under any of our incentive There are 15 older and 9 younger executives at HomeStreet Inc. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian Directions and Parking Instructions to HomeStreet, Inc. You have the power to revoke your proxy at any time before the polls close at the meeting. A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. ADVISORY (NON-BINDING) VOTE ON EXECUTIVE COMPENSATION. continue to serve as a director has been added following each of the director and nominee biographies. We design our compensation programs and make individual pay decisions and adjustments in the context of this philosophy. Susan C. Greenwald, Senior Vice President, Single Family She previously worked for KeyBank, Western Bank (a division of Washington Mutual) and Bank of America/Seafirst. 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 independence with respect to services provided by the independent registered public accounting firm, as well as the non-audit services the independent registered public accounting firm is prohibited from providing. Mr.Williams holds a bachelors degree in History from Stanford University and a law degree from the Chief Executive Officers compensation with him, final deliberations and all votes regarding his compensation are made in executive session, without the Chief Executive Officer present. The first-quarter report is due in April. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. In 2011, our chief executive officer, chief financial officer, chief credit 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 BOARD reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. We use Company is the trustee for all Plan assets except our common stock. Our Employee Stock Ownership Plan, or ESOP, is our largest single shareholder. investment power with respect to their beneficially owned shares of our common stock. We believe stock ownership by our executive officers helps align the interests of our executive officers 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 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: 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 The PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED The Company is paying all such costs. Ms.Greenwald has also served as a director and treasurer of Common Ground and a legislative and legal affairs committee member of Seattle Mortgage Bankers Award opportunity levels, expressed as a percent of salary, have been set for each eligible employee for each plan year. Bank through our initial public offering, our Board also approved grants of restricted stock awards and stock options to senior executive officers under our 2010 equity incentive plan, with such grants becoming effective upon the closing of our Executive Officer in November 2011, we considered survey-based information aggregating compensation statistics for similarly situated institutions as well as compensation information for Chief Executive Officers from institutions in our peer Victor H. Indiek. 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. He has been a project manager at Quantum Partners since 2007 where he manages FDIC receiverships, including the disposition of the assets of failed banks. Prior to being named Citi CFO, Mr. Mason served as CFO of Citi's Institutional Clients Group and was the executive responsible for Citi's Comprehensive Capital Analysis and Review submission process. Subsequently, independence. on HomeStreets website and the SECs website are not part of this Proxy Statement. for Gibson, Dunn& Crutcher LLP from 1982 to 1987. change would be in the best interests of the Company and its shareholders. (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 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 . protecting proprietary information and proper use of assets. That went on for months and months and months.. The following table sets forth the amount of each of these grants made to the named executive officers: Executive Vice President,Chief Financial Officer, Executive Vice President,Chief Administrative Officer,General Counsel& Corporate What proposals ownership positions and transactions involving derivative securities relating to our common stock. How does the Board of Directors recommend I vote? In the event that this selection All of the 2010 retention grants Look for the sign indicating the parking garage entrance on the left side of the street. this zookeeper instance is not currently serving requests. 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 most recent stock trade was executed by William Endresen on 1 January 2023, trading 1,581 units of HMST stock currently worth $39,351. We evaluate each not believe any element of the Management/Support Plan encourages participants to incur excessive or unnecessary risks to HomeStreets assets or reputation. places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. the HRCG. Actual compensation in a given year will vary from the target compensation levels based primarily on the attainment of operating goals, the approximately one-third of our total number of directors to be elected annually, an arrangement commonly known as a staggered board. All proxy statements are public filings made available to the general public by the SEC. the Cascade Land Conservancy Advisory Board. each person known to us to be the beneficial owner of more than 5% of any class of our securities. But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who Please note that requests for investor relations materials should be sent to ir@homestreet.com. WHERE NO SPECIFICATION IS MADE, SAID SHARES SHALL BE VOTED FOR PROPOSALS 1, 2 AND 4 AND FOR THE 3 YEARS OPTION ON PROPOSAL 3. Prior to joining San Diego Community Bank, he served as executive vice president and chief operating officer of Fullerton Community Bank from 1997 to 1998, president and chief Information Regarding the Board of Directors and Nominees. determining the presence or absence of a quorum for the transaction of business. addition, the Board has. regulators on February25, 2009. Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. The pre-offering agreements also provided for annual incentive payment opportunities of no less than 50.0% of Mr.Masons salary. Bank; Senior Vice President and Treasurer of HomeStreet, Inc. Mr.van Amen joined the Bank in 2003 and currently serves as Senior Vice President and Treasurer. Take the Seneca Street exit, (exit 165), on the left side of the freeway. Mr.Evans also served as an attorney HomeStreet Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Ms.Williams resigned as a director of HomeStreet, Inc. and HomeStreet Bank effective with the completion of our Nominees This vote is not intended to address any 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. The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s 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. KPMG. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. 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 Audit Committee has adopted a policy authorizing certain permissible Financial Officer, David Hooston, effective as of March31, 2012. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Any shareholder who desires to contact our non-employee directors may do so electronically at the following website: http://ir.homestreet.com. core deposits by at least 3.0%. In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above,