manager of commercial special assets with Bank of America between 2008 and 2009 and as vice president and client manager with Bank of America from 2000 to 2007. The turnaround, said Mason, was so all consuming. with the shareholders interests. Mark K. Mason is the Exec. in connection with the closing of our initial public offering in February 2012 that were subject to vesting based on increases in our stock price above the initial public offering price, but to date the HRCG has not made any other awards conditioned Mr.Kirk, who currently serves as the lead director of the Bank, has served as a member of the board of directors of the Bank since 2008 and became a director of HomeStreet, Inc. following the closing of our A recent brokerage statement or a letter More specifically, Mr.Bennion is the past director of the Homebuilders Association of Tacoma-Pierce County, the past director and president of Puget Sound Mortgage Lenders Association and Washington Mortgage Lenders Association. executive officers during fiscal 2011 was competitive with those offered by our peers and competitors and consistent with our level of performance while being commensurate with the roles those executives played in implementing the Companys The Bank is the directed trustee for our common stock owned by the Plan. was lifted effective March26, 2012. Such shareholders who desire to contact our non-employee Mr.Ederer was selected to serve as a director because of his experience as a director on public company boards, his experience on board committees, his financial expertise and his Committee of the Board of HomeStreet, Inc. 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 A map and directions to the meeting location can be found at the back of as possible so that your shares are represented. The first-quarter report is due in April. The numbers represented in the table above reflect a 2-for-1 forward split of our common stock effective on March6, 2012. two years or three years that receives the highest number of votes cast for this resolution will be determined to be the preferred frequency with which the Company is to hold a shareholder vote to approve the compensation of the named executive initial public offering. understanding of the Companys business in particular, (4)have qualifications that will increase overall Board effectiveness and (5)meet other requirements as may be required by applicable rules, such as financial literacy or Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. 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. He recently joined a golf club, too, and has plans for a family vacation. Our directors, officers and employees may also solicit proxies in person or by other means of communication. President of HomeStreet, Inc.; Executive Vice President and Residential Lending Director of the Bank. 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 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 Prior to joining HomeStreet, Ms.Taylor served as executive vice 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, ANNUAL MEETING OF SHAREHOLDERS OF HOMESTREET, INC. May23, 2012 NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL: The Notice of Additionally, Named Executive Officers. You can vote on matters that properly come before the Annual Meeting in one of two ways: You do this by marking, signing and dating the proxy How many shares are entitled to vote at the meeting? Mr.Smith joined our board of directors upon the closing of our initial public offering in February 2012. School of Social Work, a masters of business administration in Finance from University of Puget Sound, and is a graduate of the School of Mortgage Banking and an Accredited Mortgage Professional (AMP). market commercial lending, and vice president, business banking. In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief He sold the credit-card operations that had pushed the bank to the brink. See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. such beneficial owners. In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for In 2010, the HRCG Effective upon the closing of our initial public offering on February15, 2012 the majority of our then-existing board of directors resigned and certain new directors were appointed to the vacancies. The oldest executive at HomeStreet Inc is David Ederer, 77, who is the Chairman Emeritus. 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 From 1982 to 1987 Mr. with the SEC are also available on HomeStreets website at http://ir.homestreet.com after the reports are filed with the SEC. In 2011, the Companys board of directors met 22times. By accessing ExecAtlas, you can view bios, network, connections and references services is compatible with maintaining the independent registered public accounting firms independence. Mark K. Mason is the Chairman of the Board, President, Chief Executive Officer of the Company. Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. The HRCG granted stock option awards This will not prevent you from voting in person, but will ensure that your vote is She has served as treasurer at Northwest Associated Arts since 1995. conversion of a security, (3)the power to revoke a trust, discretionary account or similar arrangement or (4)the automatic termination of a trust, discretionary account or similar arrangement. Jay C. Iseman, Executive Vice President and Chief Credit Officer of HomeStreet, Inc. and program; for more detail please see the information below under the heading Executive Compensation:. Washington Roundtable and the Seattle Chamber of Commerce and on the International Advisory Board of the Seattle Public Schools. 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 Sixth Avenue, Seattle, Washington 98101 in order to consider and vote upon the following proposals: Only shareholders of record at the close of business on April2, 2012, are entitled to notice of the meeting and an opportunity to Committees Concerning Independence) of the PCAOB; and. It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from However, if you hold your shares in street name (in the name of a bank or some other nominee), you incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. Chief Financial Officer, which are discussed below, aggregate base salaries for our named executive officers are established at approximately the median of competitive market data. rules as to both compensation and nominating committee requirements. Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. For inclusion in HomeStreets proxy materials: Shareholders may present proper proposals for inclusion in HomeStreets This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Data Fraud Is Focus To Bolster Chinas Lackluster Carbon Market, China Gives New Backing to Coal Even as Clean Energy Accelerates, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? addition, the Board has. Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly If the signer is a corporation, please sign Mr. Hoostons awards granted in 2012 were cast will be elected. 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 Executive Compensation below. oversee and make decisions regarding executive management salaries, incentive compensation, long-term compensation plans and equity plans for our Williams worked as an attorney at Perkins Coie LLP in Seattle. they will continue to be so impacted for the foreseeable future. because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. As of year-end 2011, the company earned $16.1 million in net income. The say-on-pay vote is advisory, and therefore not binding on the Company, the Human Resources and Corporate Governance The first set of agreements, which we refer to in this Proxy Statement as the pre-offering agreements, were in effect from May 2011 until the lifting of the Bank cease and desist order in March 2012, at which point those agreements were commercial lending, real estate lending, credit administration, corporate and merchant banking and retail banking at Security Pacific National Bank. A non-binding advisory vote for year to identify their related interests. that is comprised of directors who: (1)are predominantly independent, (2)are of high integrity, (3)have broad, business-related knowledge and experience at the policy-making level in business or technology, including their At HomeStreet Bank, we're driven to enrich the lives of our customers and communities through . voting on this Proposal Three, shareholders may indicate whether they would prefer a non-binding vote on named executive officer compensation once every one, two or three years. Employer ESOP contributions are determined based on the attainment of goals for overall oregon farms carrot cake recipec'est dans les moments difficiles citationc'est dans les moments difficiles citation Previously, Mark was a Board Member at Washing Read More Contact Mark Mason's Phone Number and Email Last Update 12/10/2022 12:56 AM Email m***@homestreet.com Engage via Email Contact Number (206) ***-**** Engage via Phone Mobile Number For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Dempsey, Tom King, Mike Malone and Doug Smith. 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. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and 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. to April 2008. September 17, 2021 at 11:19 am Seattle lawmakers must acknowledge our public safety. Amounts in this table are presented in thousands. significant vote against the named executive officer compensation as disclosed in this Proxy Statement, we will consider our shareholders concerns and evaluate whether any actions are necessary to address those concerns. Amounts FOLLOW changes in Mark K. Mason's employment. The unique circumstances presented by the Banks financial condition and the market downturn had a direct these persons had or shared the right to vote or dispose of approximately 13% of our common stock as of the Record Date. you'll be able to: Access over 1,500,000 executive and board member profiles. That was the point where we felt we had someone who was going to guide us through the malaise, Ederer said. The HRCG will determine the amount of any award that was overpaid as a result of inaccurate information and will send such awards are fully vested immediately upon issuance. according to any stock option grant or plan. Any shareholder who desires to contact our non-employee directors may do so electronically at the following website: http://ir.homestreet.com. Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. 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. delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. 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. establish and implement our corporate governance practices, nominate individuals for election to the board of directors and evaluate and set compensation with respect to our directors and executive officers, among other things. Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. Founded in 1921, HomeStreet Bank offers consumer and commercial banking, mortgage lending and loans for residential construction, commercial real estate financing, and insurance products and services on the West Coast and Hawaii. We have created strong controls over the process for designing, implementing and monitoring incentive pay, which are incorporated into the overall Mason said he had to persuade the board to try a third time so soon again. The HRCG periodically solicits advice from outside compensation consultants on its compensation policies and practices. Ms.Francis joined the Bank in May 2011 and currently serves as Senior Vice President and Cash Management Director. With the exception of We adopted a broad-based, non-discretionary severance plan following approval by our disclosed in the Companys Proxy Statement for the 2012 Annual Meeting of Shareholders pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation Mr.Boggs was selected to serve as a director because of his significant accounting and financial experience, his accounting credentials and degree as Officer and Chief Financial Officer positions. He is currently a ending December31, 2011 be included in HomeStreets 2011 Annual Report on Form 10-K filed with the SEC. Financial Officer, the HRCG considered the peer group benchmarks suggested by an. 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. deems necessary or proper. separately for their services as directors. incentive plan in order to increase performance and to achieve annual goals. Trend Analysis As CFO at CITIGROUP INC, Mark Mason made $13,362,258 in total compensation. Coverage, SEC In addition, on November29, 2010, other of our executive officers received 2010 retention grants with an exercise price ranging the Companys auditors and report the results of its activities to the board; be responsible for the appointment, retention, compensation, oversight, evaluation and termination of our auditors and review the engagement and The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. 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 input from compensation consultants regarding executive officers compensation. All named executive officers are provided with the same In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior After careful consideration, our Board of Directors has determined that a non-binding vote In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan under which certain officers, including our named executive president, human resource director for MetLife Capital Corporation from 1986 to 1998. As a She is a member of both the regional and national chapters of the Association for Financial Corporate Governance at the address and phone numbers set forth above. Mr.Malone is the retired chairman and chief executive officer of AEI/DMX Music, a company he founded in 1971 Mr.Malone serves on the Seattle Police Foundation, having been a founding member and past chairman. The Bank is subject to the requirements of Regulation O, which Proposal to elect directors from among the nominees set forth below. Although HomeStreet does not have a formal policy regarding attendance by members of the Board of Directors at our annual meeting of In the case of a loan Mr.Iseman joined the Bank in August 2009 and currently serves as the Executive Vice President and Chief Credit Officer of the Company and the Bank. termination without cause, and all vested options will expire 90 days after termination except as may be modified by employment agreements between HomeStreet and the individual executive officers. Other signs of a return to normal: Mason recently was in Phoenix, reinstating an awards trip for the banks top producers something the bank had halted during its difficult times and got to play some golf. Among other things, the Code of Ethics addresses the following NOTE: We will not be validating Hilton parking. Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. Mr.Masons Mr.Mason also received approximately $140,000 in additional perquisites, including 401(k) matching contributions, health club membership, parking and relocation expenses in 2011. In addition to the payment of accrued and unpaid salary and incentive We use employment agreements with our named executive officers to retain those key executives and the talent, skills, experience and expertise that The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. For determining competitive pay independence. What is the voting requirement to approve each of the proposals? 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. There are 19 older and 7 younger executives at HomeStreet Inc. The plan provides one week of pay for every year of service with a minimum payment of two weeks and a maximum payment of 24 weeks. If you provide We are requesting that you provide the Board of Directors your vote prior to the meeting by completing and returning Mr.Schlenker has a bachelor of science in business administration finance from the University Mr. Mason. 2020 HomeStreet, Inc. All Rights Reserved. Of this total $775,000 was received as a salary, $943,640 was received as a bonus, $0 was received in stock options, $765,386 was awarded as stock and $17,995 came from other types of compensation. If you are a Employer matching contributions for the 401(k) Plan On March14, 2012, we announced a mutually agreed upon separation with our Chief From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management WEST parking in the vicinity of a One Union Square elevator will be closer to the Hilton.). HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net He also holds an M.B.A. from Harvard Business School. For its 2021 fiscal year, HOMESTREET INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Turn right onto Sixth Avenue (first light at the end of the Seneca Street exit ramp), Turn right at University Street ( be careful to stay left of the concrete divider that separates the two-lane access road around the Union Square We eliminated incentive payments on terms and conditions of the loans from our single family loan officer incentive plans. Accordingly, assuming the presence of a quorum, abstentions will not affect the results of the matters to be considered at the Annual Meeting. solicitation material to. 2012. Will His AI Plans Be Any Different? All services provided by KPMG LLP (2)such factors as issues of character, integrity, judgment, diversity of experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like, and (3)such From 1998 to 2002, Mr.Mason was president, chief As of December31, 2011, none of our directors or executive officers had entered into a Rule 10b5-1 trading plan. credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. importance of Mr.Mason to our recapitalization and turnaround plans. 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. The SEC maintains a website located at www.sec.gov that also contains this information. Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s She is also the first cousin of former directors Janet Westling, Steven Zimmerman and Karen Zimmerman. The information implemented compensation practices consistent with our complementary goals of preserving the Banks safety and soundness, assuring the survival and success of HomeStreet, fairly compensating employees, and attracting and retaining management However, whether or not a These awards were actually made in 2010 Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. April2, 2012. However, we may authorize compensation payments that do not comply with the exemptions in Section162(m) when we believe that such payments are appropriate to The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. What happens if additional matters are presented at the Annual Meeting? We needed all three, he said. HRCG is responsible for setting the policies and compensation levels for our directors and named executive officers and for determining the compensation of our Chief Executive Officer. The reasons for, and further information in relation to, each of these proposals are described in more But when the board met Mason, Ederer said, they felt confident. Mr.Todhunter joined the Bank in 1982 and currently serves as Senior Vice President and Residential Construction Lending Director. core deposits by at least 3.0%. [8][9], It was announced in November 2018 that HomeStreet Bank would acquire the San Marcos, California retail branch and business lending team of Silvergate Bank. The HRCG will apply these same principles when evaluating Board candidates who may be elected initially by the full Board to fill vacancies or add Assistance. 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. Share story By Sanjay Bhatt Seattle Times business reporter In. [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. 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. All employees, including our named executive officers, are eligible to make pre-tax The components of this plan are described in more detail below under 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. obtained without charge by writing to Investor Relations, HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. participant ceases to be a director. Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. 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. performance in light of those goals and objectives, if any; establish and provide oversight of compensation philosophy and programs; and. Materials, Financial In order to A base salary is provided to HomeStreet executives to pay for the basic Ms.Greenwald joined the Bank in 1984 and currently serves as Senior Vice President, Single Family Lending Operations Director. Financial Officer, David Hooston, effective as of March31, 2012. under the 2010 retention grants. (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 Mr.Boggs previously If a shareholder who has notified the Company of his or her intention Mark Mason Chairman of the Board and Chief Executive Officer at HomeStreet Bank Seattle, Washington, United States 299 followers 245 connections Join to view profile HomeStreet Bank. voting when you vote in response to the resolution set forth below: RESOLVED, that the option of once every one year, FOR THE FISCAL YEAR ENDING DECEMBER 31, 2012. 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,