Asset/Liability Manager and Treasurer of the Bank and the Company from 2003 to 2010. This information is according to proxy statements filed for the 2021 fiscal year. He is a former member of the King County Strategic Mr. Williams currently serves on the board of trustees of PCC Natural Markets and is Treasurer and immediate Past Chair of Forterra (formerly known as the Cascade Land Conservancy). determination of beneficial ownership of securities. 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. 2010 Retention Grants. Insider Trading Policy and Rule 10b5-1 The #MissHomeStreet team, of course. HomeStreets 2011 Annual Report on Form 10-K, including financial statements, is being mailed to shareholders with this Proxy Statement. Brian P. Dempsey. A copy of the full text of the bylaw provisions discussed above may be obtained by writing to our Corporate Secretary at our principal executive offices or by accessing our filings on the SECs Companys outstanding shares, have been calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the Exchange Act) as reflected in the beneficial ownership table shown in the Principal ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. Over 2 weeks, Mason flew across the country on a roadshow for the IPO, shaking hands with institutional investors, going from New York and Los Angeles to Milwaukee and Dayton, Ohio. Company contributions for a particular plan year upon the earliest of: (1)a future date specified by the participant, (2)the participants death, (3)the participants permanent disability, (4)the participants It took a substantial amount of work on my part and on the part of underwriters to convince the board that this was right time.. Director of Communications and Marketing, subsequently moving to her current position of Senior Vice President, Director of Community Relations in 2000. 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. 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. FBR Capital Markets, HomeStreets underwriter, presold two-thirds of the shares and offered to buy $5 million worth of the banks stock more than it was being paid for the IPO. Thank you for your ongoing support of and continued interest in HomeStreet, Inc. executive officer and director of the Bank of Southern California from 1994 to 1996, and president, chief executive officer and director of CapitolBank Sacramento from 1992 to 1994. the tavern grill apple valley menu . market commercial lending, and vice president, business banking. 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, Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. Filings, Insider
To be brought before an annual meeting: In addition, our bylaws establish an advance notice The Company is paying all such costs. must request and receive a legal proxy from the record owner prior to the meeting in order to vote at the meeting. Mr.Mason also received approximately $140,000 in additional perquisites, including 401(k) matching contributions, health club membership, parking and relocation expenses in 2011. The corporate component for the Computer Science from Park College, Kansas City. marketing assistant and has served in a number of lending-related management roles. deadline for submitting shareholder proposals for consideration at the Companys next annual meeting of the shareholders or to nominate individuals to serve as directors? Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. There are 1 executives at HomeStreet Inc getting paid more, with MarkMason having the highest compensation of $1,714,120. million limit on the amount of compensation that a publicly held corporation may deduct in any one year with respect to its chief executive officer and each of the next three most highly compensated executive officers (other than its chief financial 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. The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, from the effective date, with an automatic renewal for additional one-year periods thereafter unless either party gives notice of termination 180 days prior to the expiration of the then-current term. We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding Committee or our Board of Directors. How many shares are entitled to vote at the meeting? full corporate name by duly authorized officer, giving full title as such. Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. Mr.Evans and Mr.Isemans cash incentives were $167,496 or 174.5% of target and $143,580 or 179.5% of target, respectively. The following table presents fees billed for professional audit services and other services rendered to HomeStreet by KPMG LLP for the None of the members of the HRCG served as an officer or employee of HomeStreet during fiscal year 2011 From 1998 to 2002, Mr. Mason was president, chief 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 directors from 1998 to 2002. Your vote is important. That was the point where we felt we had someone who was going to guide us through the malaise, Ederer said. These agreements continue for a term of three years leave. All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. & Directors, Committee
In the case of a loan 2011 This philosophy pertains to executive compensation as well as employee compensation at all other levels From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management . 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 Williams worked as an attorney at Perkins Coie LLP in Seattle. Godfrey B. Evans, Executive Vice times (in the case of the other contracted executives) the greater of his annual incentive payment earned by the executive in the year prior to termination or the contracted executives target incentive payment for the current year and David A. Ederer, Director and Chairman of the Board. On October22, 2010, our Chief Executive Officer received 100,000 options, our Chief Financial Officer received 28,000 options and our Executive Vice President, Chief Administrative Kathleen A. Kanealii, Senior Vice President, Business Banking Director of Scott M. Boggs. separately for their services as directors. 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 directors from 1998 to 2002. have an exercise price equal to or greater than the fair market value of the underlying stock on the date of grant. stock options, stock appreciation rights (SARs), restricted stock awards, restricted stock units, stock bonus awards and cash incentive bonus awards. Request, Email
with the shareholders interests. 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. Under these rules, more than one person may addition, the Board has. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. He sold the credit-card operations that had pushed the bank to the brink. Mr.Ederer has previously served as a director of a number of public and private companies, organizations and institutions, including Cascade Natural Gas, University Savings Bank, Farmers New World Life Insurance Company, Childrens [6], In 2018 the bank won a court case following its attempt to stop a hedge fund placing its own candidates on the board. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. of $1.50 per share and an additional 16,000 options at an exercise price of $1.125 per share. Annual Meeting, Date, Time, Salary surveys have been performed on an ad hoc basis for the Mr.Ederer received a bachelors degree Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid He also holds an M.B.A. from Harvard Business School. Mark Mason is a Chairman & Chief Executive Officer at HomeStreet Bank based in Seattle, Washington. 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 HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices The information shown here is a reporting of information included in the company's proxy statement. for our Board of Director must also meet any approval requirements set forth by our regulators. Let us earn your business. With regard to candidates who are properly recommended by shareholders or by other means, the HRCG will review the qualifications of any such The transaction was expected to be finalized in the first half of 2019. Chairman, Pres & CEO at HomeStreet Inc. As the Exec. After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the For its 2021 fiscal year, HOMESTREET INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. You have the power to revoke your proxy at any time before the polls close at the meeting. 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. Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon director Bruce Williams, and former directors Wendy Williams and Marcia Williams. These jobs require commitment and focus, he said. Coverage, SEC
Theres a new pressure, of course, as CEO of a publicly traded company. As a 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. 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 Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. 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 Prior to this, Mr.Evans served as interim general counsel Each ITU is embedded with tightly integrated, foundational services that manage its full IT lifecycle - from design and implementation to monitoring, repair and administration - to ensure your network is always operating in a way that delivers value to your organization. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. executive officers. The proposals scheduled to be voted on at the Annual Meeting are: The election of the three Class I directors listed in this Proxy Statement to serve for a term of three years or until their respective successors are Mark's mailing address filed with the SEC is 601 UNION STREET, SUITE 2000, , SEATTLE, WA, 98101. It is my distinct pleasure to invite you to attend the 2012 annual meeting of shareholders of HomeStreet, Inc. A base salary is provided to HomeStreet executives to pay for the basic Inc. following the closing of our initial public offering in February 2012. Ms.Leach previously served as chairperson of Embers, chairperson of the Affordable Housing Committee, co-chairperson of the Multifamily Committee, a member of the board of directors of Common Ground, a member of the Mr.Mason, who was hired in late 2009 based on his skills and experience in implementing turn-around plans at troubled financial institutions, and to vote at the Annual Meeting. Split Information, Officers
ending December31, 2012. Named Executive Officers. Mr. Mason brings extensive business, managerial and leadership experience to our Board. From 1998 to 2002, Mr. Mason was president, chief 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 directors from 1998 to 2002. at We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. Join Facebook to connect with Mark Mason and others you may know. Open
Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. Prior to joining the Bank, Mr.Battaglia was of counsel to Williams, Kastner& Gibbs from Union& Two Union Square share underground parking. 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, each person known to us to be the beneficial owner of more than 5% of any class of our securities. Mr. Mason serves as a Trustee of Howard University, where he received a B.B.A. In this section we refer to these individuals as the contracted executives. 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 persons ownership of HomeStreet stock. 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. 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. We encourage any shareholders who would like to provide Mark Mason's first promotion came when his grandfather, who owned a landscaping business, let him mow front lawns after initially assigning him weed-digging duty in backyards. 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 Proxy Statement Pursuant to Section14(a) of the, Filed by the Registrantx Filed by a Party other than the Nominees for Class I Directors Terms Expire 2015. Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. 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. 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 If you provide options will be immediately cancelled except as provided for under individual employment agreements of executive officers. Each member of the HRCG meets the independence standards established under 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. Prior to joining the Banks board, Mr.King served as number of shares held by that specific shareholder and the total number of shares outstanding. Award opportunity levels, expressed as a percent of salary, have been set for each eligible employee for each plan year. 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. 2007 as Chief Information Officer. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. If you mark your voting instructions on the proxy card, membership and parking. Corporate Governance at the address and phone numbers set forth above. 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 for all employees, including non-executive officers. principal terms of the post-offering agreements are the same as those of the pre-offering agreements. Corporate performance for these executives was based on achievement of These loans are made in the ordinary course of business on substantially the same terms, including interest rates As of December31, 2011, none of our directors or executive officers had entered into a Rule 10b5-1 trading plan. Since 1974 Mr.Ederer has served as the chairman of Ederer Investment 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. But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. duly elected and qualified. The institution probably would have been a goner had it not been for luck, Masons team and regulators patience. February 2009 to March 2012. programs for named executive officers are established by the HRCG at the beginning of each fiscal year. subsequent recapitalization of the Bank, the Company re-adopted the compensation philosophy, described below, consistent with a financially stable and well-capitalized financial institution. Shareholder ratification of the selection of KPMG LLP is In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for Mr.Boggs previously (Communication With Audit Committees), as amended and adopted by the Public Company Accounting Oversight Board (PCAOB) in Rule 3200T; received the written disclosures and the letter from the independent registered public accounting firm required by Rule 3526 (Communication with Audit The HRCG has the authority to View the executive profile of Mark K. Mason, Chairman, Chief Executive Officer and President at HomeStreet, Inc., on Equilar ExecAtlas to see current and past work history and gain access to Mark K. Mason's network of 74 business contacts. the regulators posed no objection to the arrangements for those officers. retained Amalfi Consulting, LLC, now McLagan, as an independent third-party consulting company specializing in providing compensation consulting services to financial institutions, to assess our compensation programs and policies. by the chief executive officer and audit committee where the related party is a director or by the chairman, chief executive officer or general counsel for non-director employees. IDENTIFY executive and board member connections in Mark K. Mason's network. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. What proposals Washington Roundtable and the Seattle Chamber of Commerce and on the International Advisory Board of the Seattle Public Schools. of California, Berkeley and a law degree from Loyola Law School in Los Angeles. Salary increases ordinarily are effective on January1 of each year. Jeffery D. Schlenker, Senior Vice President, Program Manager of HomeStreet Investment Services of the Bank. including the named executive officers. Wrong. the attached Proxy Statement. ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward In 2017, HomeStreet CEO Mark Mason explained why. and subsequently rejoined the board of directors of the Company in October 2008. corporate controller from 1998 to 2003. This report is not for commercial use. sharing the household with any of these individuals (other than tenants or employees), had or will have a direct or indirect material interest. undersigned at such meeting with respect to the election of directors of HomeStreet, Inc., for a term ending at the annual meeting of shareholders in 2015 or upon the due election and qualification of successors, in each case at any time, and for [11], "Continental, Inc." redirects here. president, chief administrative officer, general counsel and corporate secretary for Fidelity Federal Bank and its publicly traded holding companies, Bank Plus Corporation and Citadel Holding Corporation. He for Gibson, Dunn& Crutcher LLP from 1982 to 1987. It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. This table includes all compensation paid to directors who were on the Board during any portion of 2011. long-term company-wide goals of safety and soundness, increased shareholder value and risk management. The turnaround, said Mason, was so all consuming. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. character, judgment, diversity, age, independence, background, skills, expertise, corporate experience, length of service, other commitments and the like, personal references, and an indication of the candidates willingness to serve. Two wasnt enough. meeting. shareholders, we encourage, but do not require, directors to attend. All named executive officers are provided with the same brought before the meeting. Among other things, this charter calls upon HRCG to: develop criteria for selecting new directors and to identify individuals qualified to become board members; select, or recommend that the board select, the director nominees for each annual meeting of shareholders; develop and recommend to the board a set of corporate governance principles applicable to the corporation, including periodic review and reassessment The pre-offering agreements also provided for annual incentive payment opportunities of no less than 50.0% of Mr.Masons salary. It was a big credibility issue for them as well.. If we are required to restate our financials due to noncompliance Financial Officer, David Hooston, effective as of March31, 2012. 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 2010 Plan allows for a range of equity grants, including stock options, restricted stock or restricted stock units, stock bonuses or reward and motivate appropriate executive behavior that produces strong financial results while managing risks and promoting regulatory compliance. audited the Companys financial statements since fiscal 2003. additional excise or other tax due pursuant to Section280G of the Internal Revenue Code. of knowledge, experience and capability on the Board of Directors and considers (1)the current size and composition of the Board of Directors and the needs of the Board of Directors and the respective committees of the Board of Directors, In 2011, our named 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. bank counsel has focused on. It means that you may have multiple stock ownership accounts. candidates name, home and business contact information, detailed biographical data and qualifications, information regarding any relationships between the candidate and HomeStreet within the last three years and evidence of the nominating delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. [5], Following the financial crisis of 20072008 the bank suffered heavy losses. Other than as set forth in this section, the securities, to file with the Securities and Exchange Commission reports of ownership and reports of changes in ownership of common stock and our other equity securities. 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. ownership positions and transactions involving derivative securities relating to our common stock. from the University of Washington and is a will be voted FOR the nominees identified herein, FOR the advisory vote for the approval of executive compensation, 3 Years on the frequency of executive compensation votes and FOR the appointment of incentive plan in order to increase performance and to achieve annual goals. Over the last 11 years, insiders at HomeStreet Inc have traded over $7,730,610 worth of HomeStreet Inc stock and bought 377,308 units worth $11,715,403 Committee as they review executive compensation for the remainder of this year and future years. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE PROPOSALS 1. 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 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 Williams previously served on the Visiting Committee of the University of Washington Daniel J. Evans School of Public Affairs, Chair of the Washington Financial League, on the Boards of Directors of the Mortgage Bankers Association of America, the 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. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. A majority of the levels. As discussed above, in In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief The Audit Committee has adopted a policy authorizing certain permissible Proposal to elect directors from among the nominees set forth below. In order to provide additional equity-based compensation incentives and to reward key personnel who had played an important role in stabilizing and recapitalizing HomeStreet and the Bank, the HRCG approved investment power with respect to their beneficially owned shares of our common stock. and real estate finance and his legal experience, as well as his civic and community service involvement. 2011, McLagan assessed our incentive compensation programs and made recommendations with respect to the Sound Incentive Compensation Policy Final Guidelines as adopted by our regulators effective June 2010 and the guidelines to be implemented under officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act) our For more information on the partnership, visit: https://www.ho.
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