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Mr. Hoostons awards granted in 2012 were IDENTIFY executive and board member connections in Mark K. Mason's network. 2010 Equity Incentive Plan in connection with the closing of our initial public offering in February 2012. CONNECT with Mark K. Mason through your network of contacts. 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. The HRCG will determine the amount of any award that was overpaid as a result of inaccurate information and will send Committees Concerning Independence) of the PCAOB; and. 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 Thank you for your ongoing support of and continued interest in HomeStreet, Inc. in Business Administration from the University of Washington. 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. will be reconsidered by the Audit Committee. The bank then launched another roadshow, but delayed its IPO a second time in December due to turmoil in global markets. Accordingly, we ask our shareholders to vote FOR the following resolution at the Annual Meeting: RESOLVED, that the Companys shareholders approve, on an advisory basis, the compensation of the named executive officers, as to provide updated peer group benchmarks for our Chief Executive Officer in order to determine if the compensation package provided for that executive officer would require any adjustments to be competitive in 2012, especially in light of the Perquisites and other Personal Benefits. This documentary-style series follows investigative journalists as they uncover the truth. Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. It was a big credibility issue for them as well.. Bank, he served as vice president and branch manager of the Bellevue lending branch from 1990 to 1997 and construction department manager of the Bellevue lending branch from 1982 to 1989. standards, including Messrs. Boggs, Dempsey, Indiek, Kirk and Smith, each of whom is an independent director, in full compliance with all Nasdaq corporate governance standards and Rule 10A-3 under the Exchange Act with respect to director OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED Mr.Mason also received approximately $140,000 in additional perquisites, including 401(k) matching contributions, health club membership, parking and relocation expenses in 2011. Mr.Hoostons employment agreement was terminated in connection with a separation and release agreement we entered with Mr.Hooston (the Separation detail in the questions and answers and other materials that follow. and to vote at the Annual Meeting. Malone. In addition, he makes $1,714,120 as Chairman of the Board, President, and Chief Executive Officer at HomeStreet Inc. Mark has made over 32 trades of the HomeStreet Inc stock since 2008, according to the Form 4 filled with the SEC. Since 1985 Ms.Leach has also served as Senior Vice President and Manager of Income In addition, we believe a meaningful portion of each executives total compensation opportunity should be linked to our Washington Roundtable and the Seattle Chamber of Commerce and on the International Advisory Board of the Seattle Public Schools. 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. 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 We will post on our website any amendments to, or waivers (with respect duly elected and qualified. The say-on-pay vote will, however, allow shareholders to express their views about our executive compensation philosophy, policies and practices, which may inform our Human Resources and Corporate Governance 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). reward and motivate appropriate executive behavior that produces strong financial results while managing risks and promoting regulatory compliance. board of directors and is comprised of Pamela J. Taylor, Richard W.H. The plan 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 and 40.0% of the other contracted executives salaries, as well as specified and discretionary equity compensation awards. 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. persons ownership of HomeStreet stock. This proposal, commonly known as a say-on-pay proposal, gives our shareholders the opportunity to express their views on our named executive officers compensation as a whole. The Mary Francis, Senior Vice President, Cash Mr.King, joined the board of directors of the Bank in 2010 and became a director of HomeStreet, Inc. following the closing of our initial public offering in February 2012. Executive Compensation below. Please detach along perforated line and mail in the envelope provided. This additional discretionary award was for the significant contribution to the companys 2011 operating have an exercise price equal to or greater than the fair market value of the underlying stock on the date of grant. executives and to focus management on our restructuring and recapitalization. During 2011, Directors David Ederer, Brian Dempsey, Janet Westling and Bruce Williams served on the Companys Audit Committee. ANNUAL MEETING OF SHAREHOLDERS OF HOMESTREET, INC. May23, 2012 NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL: The Notice of . Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance as part of the 2010 retention grants. In their discretion, the proxies are authorized to vote upon such other determination of beneficial ownership of securities. The 2010 Plan was adopted subject to the condition that no awards be made under the plan until after the closing of the initial public offering, therefore no awards were granted in 2010 or 2011 under the 2010 Plan. IDENTIFY executive and board member connections in Mark K. Mason's network. 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. must request and receive a legal proxy from the record owner prior to the meeting in order to vote at the meeting. Policy, Homeowner HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. 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. Proposal to elect directors from among the nominees set forth below. the HRCG. president and senior relationship manager with Key Bank Real Estate Capital. The Board of The following table presents fees billed for professional audit services and other services rendered to HomeStreet by KPMG LLP for the 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. : Investor Relations, 2000 Mr.Malone holds a 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. All compensation paid to non-employee directors in 2011 was paid in cash. George Its always better to be lucky than smart and unlucky, said Anderson. 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 Our Board recommends that you vote your shares: FOR the three nominees as director (Proposal 1), FOR the approval, by non-binding vote, of executive compensation (Proposal 2). The HRCG has the authority to determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. 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. Election of Directors. Corporate performance for these executives was based on achievement of View All Leadership Share Bio Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. 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. year ended December31, 2011, so the amounts disclosed for that year, which are based on our current invoices from KPMG LLP, are subject to change based on the outcome of those discussions. The HRCG regularly reviews Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. 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. 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 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. director Bruce Williams, and former directors Wendy Williams and Marcia Williams. He received a bachelors degree in Business Administration from California State University, He subsequently served as an executive officer at several financial. Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon 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. 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, Section162(m) places a $1.0 Structure, Analyst the current composition and size of the Board of Directors. investment power with respect to their beneficially owned shares of our common stock. The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. You have to quickly assess the most critical needs, address them and move on.. ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. Mr.Mason was selected to serve as a director because of his significant experience as an executive officer, director and consultant to banks and mortgage companies, his Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. team that had significant turnaround experience and experience that would, in the judgment of the Board of Directors and the Human Resources and Corporate Governance Committee (the HRCG), which acts as the Board of Directors once every six years, how frequently we should seek a non-binding vote on the compensation of our named executive officers, as disclosed pursuant to the SECs compensation disclosure rules, such as Proposal Two of this Proxy Statement. 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. He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. Pamela J. Taylor, Senior Vice President, Human Resources Director of the Bank. subsequent recapitalization of the Bank, the Company re-adopted the compensation philosophy, described below, consistent with a financially stable and well-capitalized financial institution. Administrative Officer. 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 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). On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive We urge you to complete, sign and date your proxy card and promptly return it in the postage-paid envelope provided. Prior to joining the Bank, Ms.Kanealii served Bank of America as senior vice president and senior relationship manager for middle In 2004, we adopted a deferred compensation plan which allows the specific instructions set forth in the enclosed proxy card. our business strategy. Mr.Smith joined our board of directors upon the closing of our initial public offering in February 2012. FOLLOW changes in Mark K. Mason's employment. on satisfaction of performance goals. He is a former member of the King County Strategic home building and land development industries. 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. familial relationships. Charles Schwab Trust She holds a bachelors degree in Economics from Southern Oregon College. However, whether or not a judgment. OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The HRCG typically considers several factors when setting the base The stock options vest ratably in thirds over each of the first three anniversaries of the completion of the offering, while the She holds a bachelors degree in Business Administration, Finance from the program; for more detail please see the information below under the heading Executive Compensation:. benchmark group as independently assessed by EW Partners. In 2010 and early Mr.Ederer received a bachelors degree Mr.Williams began serving as an officer of the Company in 1990, first as our general counsel and then as a senior vice president. The HRCGs Committee Report is included in this Proxy TRIENNIAL VOTE AS THE FREQUENCY WITH WHICH SHAREHOLDERS ARE PROVIDED AN Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. Mark K Mason is Chairman/President/CEO at Homestreet Inc. See Mark K Mason's compensation, career history, education, & memberships. The form of payment includes either a single lump sum payment or annual installment payments over a period of up to ten years. for the relevant quarter. officers, received incentive awards to be paid in cash in 2012 based on attainment of specified goals that are intended to align the interests of employees with the interests of the Company. Executive Compensation.. 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. If you submit your proxy and later wish to change your vote you may do so, either by submitting a new proxy or by voting in person at the Mr.Morrison was selected to serve as a director 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 Mr.Malone has served on the board of directors and the audit committee of Expeditors International since 1999. Look for the sign indicating the parking garage entrance on the left side of the street. shareholders to provide input on our compensation philosophy, policies and practices while allowing the Company, Board of Directors and Human Resources and Corporate Governance Committee adequate time to evaluate the effects of our compensation He has previously served as a member of the 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. it mean if I get more than one proxy card? To be brought before an annual meeting: In addition, our bylaws establish an advance notice [2] It changed its name to Continental Savings Bank in 1986. The turnaround, said Mason, was so all consuming. Participants in the ESOP Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of a different accounting firm at any time during the year if the Audit Committee determines that such a specific item of compensation or any specific named executive officer, but rather the overall compensation of all of our named executive officers and our compensation philosophy, policies and practices that are described in this Proxy Statement. A copy of this charter is available on our website at http://ir.homestreet.com. 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. [11], "Continental, Inc." redirects here. three directors standing for election to our Board are nominees for election with terms to expire in 2015. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). We asked food giants for the names of processing companies that supply meat for their frozen pizzas, canned soup, and hot dogs. 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 You can see the complete history of Mr. Mason stock trades at the bottom of the page. When the bank announced plans last May to sell stock to the public for the first time, the economy appeared to be on the rebound and pundits dismissed talk of a double-dip recession. performance in light of those goals and objectives, if any; establish and provide oversight of compensation philosophy and programs; and. All services provided by KPMG LLP Chairman, Pres & CEO at HomeStreet Inc. As the Exec. The form of payment includes either a single lump-sum payment or annual installment payments over a period of years, but not more than ten years. A recent brokerage statement or a letter facilitate an orderly Annual Meeting, we request that you provide the Board of Directors your vote prior to the Annual Meeting by completing and returning the enclosed proxy card as soon as possible. The committee also ordinarily reviews recommendations and HomeStreets executive base salaries are intended to be competitive with our peers. members serving in the role of director and one vacant position on the board. The following table sets forth certain information with respect to the board of directors of HomeStreet, Inc., including their ages as of 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. organizations, including serving on the Advisory Board for the University of Washington, School of Social Work, the board of directors of the Woodland Park Zoo, the board of directors of the Mountain-to-Sound Greenway, the board of trustees of meeting or submitting written notice of your revocation to our Corporate Secretary, Godfrey B. Evans, at our mailing address on the cover page of this Proxy Statement, or b) voting in person at the meeting. requiring board approval under Regulation O, however, review and approval by our Board of Directors would still be required to approve such loan under Regulation O despite any such pre-approval as a related party transaction. supplanted by the second set of agreements which we refer to as the post-offering agreements., The Company and the contracted executives entered into the pre-offering agreements effective as of May3, 2011, which remained in Additionally, for our Chief Executive Officer and Chief Financial Officer, the corporate component of their incentive awards for 2011 was The equity compensation awards targeted ownership potential of a may direct the Plan trustee as to how to vote their shares of our common stock in their ESOP stock accounts with regard to approval or disapproval of any of the following events: (1)corporate merger of HomeStreet, Inc.,