This includes temporary housing and travel expenses for Messrs. Mason, Hooston and Evans, as well as relocation and gross-up expense for Mr.Mason. 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 In general, certain performance-based compensation approved by shareholders is not subject to this deduction limit. 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. importance of Mr.Mason to our recapitalization and turnaround plans. 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. 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. To change the address on your account, please check the box at right and indicate your new address in the address space above. the approval of executive compensation. Executive officers, directors and greater than ten percent shareholders are nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. Our Board is divided into classes of directors, with each class serving a three-year term. Mark Mason (executive) - Wikipedia 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). 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 IDENTIFY executive and board member connections in Mark K. Mason's network. However, if any 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 On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. Adjusted Operating Income at a target of $43.3 million. financial expertise with respect to audit committee members. Committee Membership of Directors of HomeStreet, Inc. Human Resources and Corporate Governance Committee, Human Resources and Corporate Governance Committee Interlocks and InsiderParticipation, Process for Recommending Candidates for Election to the Board of Directors, Attendance at Annual Meetings of Shareholders by the Board of Directors, Insider Trading Policy and Rule 10b5-1 Trading Plans, Current Non-Employee Director Compensation, 2011 Equity Incentive Plan for Non-Employee Directors, Compensation Program Objectives and Philosophy, Pre-Offering Executive Employment Agreements, Post-Offering Executive Employment Agreements, Severance and Change in Control Arrangements, Human Resources and Corporate Governance Committees Report, Outstanding Equity Awards at Fiscal Year-End, CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, Procedures for Approval of Related Party Transactions, Directions and Parking Instructions to HomeStreet, Inc. Mutual Funds. Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the Our Board of Directors recommends a triennial vote as the most appropriate alternative for the Company as it will allow our principles: maintaining accurate and complete records; maintaining integrity of consultants, agents and representatives; and. Corporate Governance at the address and phone numbers set forth above. In 2009, the HRCG, with the assistance of outside compensation consultants, established peer group benchmarks for the new Chief Executive HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief We evaluate each 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.. These participation levels may be increased or decreased after the beginning of a fiscal year at the discretion of the committee. HomeStreet and the HomeStreet programs for any of our officers, including the Chief Executive Officer and Chief Financial Officer, until our independent public accountants have completed their annual audit. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. Ms.Williams is the sister of 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 Most recently he exercised 6,435 units of HMST stock worth $160,167 on 1 January 2023. served as a trustee and chair of the audit committee and budget and investments committee of the Financial Executives Research Foundation from 2002 to 2008, as director, chair of the pension committee and audit committee and designated financial applicable regulations, if you do not give instructions to your broker, your broker will not be permitted to vote your shares with respect to the Proposals 1, 2 and 3, described in this Proxy Statement. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. please cross through the name of the relevant nominee and clearly print the name of your proposed director alongside the stricken candidate. The principles underlying our executive Mr.Indiek joined the Board of Directors of HomeStreet, Inc.and the A The plan PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. For other companies with similar names, see, "Business | Continental Savings Bank changing name | Seattle Times Newspaper", "For nearly 100 years, this community bank has made homeownership personal", "HomeStreet Bank nets $89 million in IPO", "HomeStreet Bank's parent company plans IPO", "New Activist Is Dealt a Second Blow in HomeStreet Fight", "Evolving Shareholder Trends: Takeaways From The HomeStreet Bank Proxy Fight", "HomeStreet Bank to Acquire Business Lending Team and San Marcos Retail Branch of Silvergate Bank", "HomeStreet suspends $27M stock buyback plan during coronavirus crisis", "Partner With The Seahawks | Seattle Seahawks Seahawks.com", "Miss HomeStreet Unlimited Hydroplane | HomeStreet Bank", https://en.wikipedia.org/w/index.php?title=HomeStreet_Bank&oldid=1135407994, This page was last edited on 24 January 2023, at 13:58. If you mark your voting instructions on the proxy card, 6.0% of eligible compensation (subject to IRS limits). 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. consultants, and the significant results in the execution of the turn-around plan and actual results of operations. The HRCG reviewed the McLagan report and took it into consideration in determining its 2011 incentive plan arrangements for the entire organization. The Notice Period is defined as that period not less than 90 days nor more than 120 For determining competitive pay HomeStreets executive base salaries are intended to be competitive with our peers. In general, Ratification of Appointment of Independent Registered Public Accounting Firm. A participant or He 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. for Gibson, Dunn& Crutcher LLP from 1982 to 1987. determination of beneficial ownership of securities. long-term financial performance; and. with any financial reporting requirements as a result of misconduct, our Chief Executive Officer and Chief Financial Officer must reimburse the Company for: (1)any bonus or other incentive or equity-based compensation received during the Committee of the Board of HomeStreet, Inc. 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. A. copy of this charter is available on our website at http://ir.homestreet.com. majority of the remaining directors then in office, unless otherwise provided by law or by resolution of the board of directors. KPMG LLP currently serves at the Ms.Greenwald began her career at the Bank as a secondary Turning around struggling firms has become a specialty for Mason, 52. 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. In addition, any options exercisable within 60 days of April2, 2012 $16.1million, respectively. 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. We paid out amounts earned under the Management/Support Plan as part of the 2010 retention grants. reward and motivate appropriate executive behavior that produces strong financial results while managing risks and promoting regulatory compliance. 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. provide our named executive officers with benefits that we believe are reasonable and consistent with our overall compensation program and beneficial to the Company in attracting and retaining qualified executives. We use employment agreements with our named executive officers to retain those key executives and the talent, skills, experience and expertise that 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. Nominees He spent the next five years as a consultant to banks and mortgage lenders. Dempsey, Tom King, Mike Malone and Doug Smith. Each of these options had an exercise price of $1.50 per share. All notices of proposals by shareholders, whether or not included in our proxy materials, should be sent to our Corporate Secretary at our principal executive offices. Prior to that, Mr.van Amen served as the quantitative analytics manager for the Royal Bank of Canada, vice president and balance sheet manager at Old Kent In May 2011, to provide additional compensation incentives and reward certain key executives who have played an important role in recapitalizing the And hes the chief financial officer until he hires a new one. A majority of the All nominees are incumbent directors of HomeStreet and nominated for reelection. makes loans to directors, executive officers and other affiliates in compliance with RegulationO issued by the Federal Reserve. will be included in the beneficial ownership of the holder of such option, and the percentage ownership for that holder will be calculated by adding the aggregate number of options exercisable within 60days of April2, 2012 to both the Mark Mason is on Facebook. Companys overall performance, and changes in shareholder value. A shareholder of record is a person or entity whose name appears on or in our records as an owner of one or more shares of our common stock as of the close of business on the Record Date. He subsequently served as an executive officer at several financial. We needed all three, he said. additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with such solicitation. Insider Trading Policy and Rule 10b5-1 each of the first three anniversaries of the grant date. At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board disclosed in the table above represent awards granted under the Management/Support Plan for 2011 which were paid on April 15, 2012. Generally, we have instituted compensation practices intended to meet our complementary goals of preserving the Banks safety and soundness, assuring the survival and success of purposes of the Management/Support Incentive Plan was $51.9 million. The Audit Finance and Marketing from the American Graduate School of International Management. In addition, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable THE BOARD She returned to the Bank in 1988 as Senior Vice President and Look for the sign indicating the parking garage entrance on the left side of the street. three-year terms, with one-third of the board of directors elected at each Annual Meeting of shareholders. In addition to the prohibitions against solicitation of customers and employees If signer is a partnership, please sign in partnership name by authorized person. 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. Actual compensation in a given year will vary from the target compensation levels based primarily on the attainment of operating goals, the 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 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 The meeting will be held in the Winward Room on the lobby level of the Hilton. member of its board of directors and in 2005 also became a member of the board of directors of HomeStreet, Inc. Mr.Ederer was elected chairman of that board in 2009. There are 19 older and 7 younger executives at HomeStreet Inc. Lemon joined the Bank in 1985 and since 2001 HomeStreet executives participate in a short-term cash 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 incentive bonus awards. Douglas I. Smith. Who can help answer any other questions I may have? initial public offering. Split Information, Officers into consideration in making compensation decisions for 2011 or any prior years. By late 2002, Mason negotiated Fidelity Federals sale to a larger banking company. 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 The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the The percentages reflect beneficial Since retiring from San Diego Community Bank following its sale to First Banks, Inc. in 2006, Mr.King has provided Gerhardt Morrison. Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. The actual payouts will be calculated as a proportion of minimum, target and maximum performance levels. 2010 Retention Grants. The estimated Net Worth of Mark K Mason is at least $6.8 Million dollars as of 1 January 2023. 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. [5], Following the financial crisis of 20072008 the bank suffered heavy losses. Mr.Smith has been elected to serve as a director because of his experience in the residential construction lending area as well as his experience in the Mark K Mason, Homestreet Inc: Profile and Biography There are 15 older and 9 younger executives at HomeStreet Inc. Mason said he had to persuade the board to try a third time so soon again. attract and retain executive talent. 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. These agreements are described in more detail under the heading with the shareholders interests. School of Business, and a law degree cum laude from Harvard Law School. Mr.Malone holds a 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 Mr.Bennion holds a bachelors degree in History and China Regional Studies from the University of Washington and a masters of business administration from the University of Washington and is a graduate of the School of Mortgage Banking. We believe it is critical to HomeStreets success to attract, retain and incentivize highly qualified executives and to promote a to April 2008. We have entered into indemnification agreements with each of the current and former directors and executive officers of HomeStreet, Inc. Subject to certain limitations, these agreements require us to professional degrees and training in business and management. Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. 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 View All Leadership Share Bio bank counsel has focused on. Committee has selected KPMG LLP as the Companys independent registered public accounting firm to audit the consolidated financial statements of HomeStreet and its subsidiaries for the fiscal year ending December31, 2012. During 2008, prior to returning to Bank of America, Mr.Iseman served as vice 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, Northridge. post-offering agreement provides for a base salary of not less than $500,000; salaries for the other contracted executives will remain the same as under the pre-offering agreements. 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 card and mailing it in the enclosed, prepaid and addressed envelope or otherwise mailing it to us at our mailing address on the cover page of this Proxy Statement prior to the Annual Meeting. our business strategy. As we were not publicly traded prior to February10, 2012, the HRCG did not previously take this deductibility limit Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. I got married the first time because I was raised Catholic and that's what you were supposed to do. quorum exists, a majority of the voting power of those present at the Annual Meeting may adjourn the Annual Meeting to another date, time and place. Mr.Malone joined the Board of Directors of HomeStreet, Inc. upon the closing of our initial public offering in and executive officers are excluded from deliberations regarding their own compensation. in each of the last two fiscal years were pre-approved by the Audit Committee. mcdonalds garfield mugs worth Scott M. Boggs. Mr.Hoostons incentive target was divided into two components: 50% corporate performance, as described above and 50% individual performance. Ownership, Proxy Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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: We issued an aggregate of 356,969 shares of our common stock as part Last year, it earned a profit of about $17.6 million. 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 We adopted a broad-based, non-discretionary severance plan following approval by our With regard to candidates who are properly recommended by shareholders or by other means, the HRCG will review the qualifications of any such Jeffrey L. Todhunter, Senior Vice OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM inaccurate financial information was used in setting that award or if the recipients activities posed risk to the Company. At each annual meeting, our shareholders elect directors within one class, and each class is staggered in a manner that causes Take the Seneca Street exit, (exit 165), on the left side of the freeway. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Mr.Morrison is He has also served as a trustee of the Northwest Hospital and as chairman of its audit In mid-2009, HomeStreet Bank appeared headed for oblivion. HomeStreet scooped up business as the nations biggest lenders pulled back on new mortgages to limit their exposure, said Trepp analyst Matthew Anderson. Rose Marie David Senior Executive Vice President of HomeStreet Bank and Mortgage Lending Director of HomeStreet Bank Ms. Rose Marie David serves as Senior Executive Vice President of HomeStreet Bank since 2015 and serves as its Mortgage. Inc. following the closing of our initial public offering in February 2012. delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. Additional copies of the Annual Report on Form 10-K may be been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. The Management/Support Plan design incorporates a tiered approach with annual incentive awards linked to the achievement of pre-defined corporate, department and individual performance goals. FOLLOW changes in Mark K. Mason's employment. $500,000 per year. About Us. #H1Rewind HomeStreet Bank - HomeStreet Bank CEO Mark Mason talks about the Miss HomeStreet partnership Log In Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly his or her beneficiary will begin receiving a distribution of his or her deferrals for a particular plan year upon the earliest of (1)a future date specified by the participant, (2)the participants death or (3)the date the Accordingly, assuming the presence of a quorum, abstentions will not affect the results of the matters to be considered at the Annual Meeting. Michael J. ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. 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. Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. Salary increases ordinarily are effective on January1 of each year. Charting, Governance Prior to his current position with the Bank, he was the Vice President, 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. your broker, your broker will leave your shares unvoted on this matter. Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. Mark Mason is a Chairman & Chief Executive Officer at HomeStreet Bank based in Seattle, Washington. Executive officers in attendance may provide their insights and suggestions, but only independent committee members may vote on decisions regarding executive compensation, Exit the elevator and take the down escalators directly ahead. Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. In the course of determining the independence of each non-employee director, the Board of Directors considered the annual amount of HomeStreets sales Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. Named Executive Officers. credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. the shareholders of said corporation to be held May23, 2012, at 10:00 a.m. in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101, and any adjournments or postponements thereof, and to vote the shares of the The banks chief financial officer, part of the turnaround team, recently announced his departure. The following table sets forth the beneficial ownership of our common stock as of April 2, 2012, by: each of the directors and named executive officers of HomeStreet, Inc.; all of our directors and executive officers as a group; and. Were excited to be back as a full-service bank, Mason said. The information shown here is a reporting of information included in the company's proxy statement. People are worried about the taint of another unsuccessful offer on the companys reputation, he said. Election of Directors. from $1.125 to $1.50 per share. In 2000, he was promoted to president and chief operating As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that Any shareholder who desires to contact our non-employee directors may do so electronically at the following website: http://ir.homestreet.com. from the University of Washington. While we have not established specific minimum qualifications for director candidates, we believe that candidates and nominees must reflect a Board They were going to put up more than the fees they were going to earn, Mason said. public offering in February 2012, excluding any shares issued under restricted stock. Participants in the ESOP 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. Together The 2010 Plan allows for a range of equity grants, including stock options, restricted stock or restricted stock units, stock bonuses or (One The following table shows the compensation paid to our non-employee directors for 2011. We are authorized to issue up to 706,356 shares of our common stock issuable under the 2010 Plan, however, our Board of Directors have indicated that they intend to limit the amount of aggregate awards to be granted under the 2010 The oldest executive at HomeStreet Inc is David Ederer, 77, who is the Chairman Emeritus. In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. Mark K Mason is Chairman/President/CEO at Homestreet Inc. See Mark K Mason's compensation, career history, education, & memberships. outside compensation consultant. Mr.Indiek was selected to serve as a director because of his extensive experience The percentage of payout for overall performance of HomeStreet and for department Committee or our Board of Directors. Executive Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012.