In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief 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. Ms.Williams has also held leadership roles with a number of community 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 (3)payment of health insurance premiums for. 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 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 All Executive Deferred Compensation. of an independent registered public accounting firm is not ratified by the affirmative vote of a majority of the shares present and voting at the meeting in person or by proxy, the appointment of the independent registered public accounting firm FOR THE FISCAL YEAR ENDING DECEMBER 31, 2012. 4. IDENTIFY executive and board member connections in Mark K. Mason's network. We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. the approval of executive compensation. 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 In May 2000, the named changed to HomeStreet Bank. If we are required to restate our financials due to noncompliance Additional copies of the Annual Report on Form 10-K may be Repertory Theatre. Ms. Williams served as a Mr.Bennion also received a discretionary award of $124,987 for a total award of $300,000. HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock professional degrees and training in business and management. If you are unable to attend the meeting and vote in person, please submit a proxy as soon as possible, so that your shares can be voted at the meeting in accordance with your instructions. Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year Ms.Leach is a member of the board of directors of the Seattle Housing Resources Group, member of Commercial Real Estate Women, member of our executive compensation program was designed appropriately and is working to align the interests of our management team with the interests of our shareholders to support long-term value creation. the Bank. Committee of the Board of HomeStreet, Inc. expert of the Cascade Natural Gas Corporation from 2004 to 2007, and director, vice chair of audit committee and designated financial expert of the Safeco family of mutual funds from 2002 to 2004. The Bank surveys Company and Bank directors and senior and executive officers each Godfrey B. Evans, Executive Vice Mr.Masons and In 2017, HomeStreet CEO Mark Mason explained why. Ms.Greenwald began her career at the Bank as a secondary Coverage, SEC She is an associate member for the Corporate Council of the Arts. In addition to the payment of earned and Executive officers, directors and greater than ten percent shareholders are Prior to her current position, she served as an assistant vice president, compliance officer, vice president, internal auditor and senior vice president, internal audit director. The plan Mr. Mason is a certified public accountant (inactive) and holds a bachelors degree in Business Administration with an emphasis in Accounting from California State Polytechnic University. for Gibson, Dunn& Crutcher LLP from 1982 to 1987. Prior to this, Mr.Evans served as interim general counsel To assist the Audit Committee in its oversight responsibilities, the pre-approval policy identifies the three basic principles of regulators on February25, 2009. Together Wrong. According to Trepp, a provider of bank ratings, about half the banks that were under regulatory restrictions as of May 2009 when HomeStreet was ordered to improve its finances and management have since failed or been acquired. Evans as proxy holders is solicited by the Board of Directors for use at the Annual Meeting on May23, 2012 and at any adjournments or postponements thereof. Named Executive Officers. 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. Mr.Dempsey was selected to serve as a director because HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. 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 Among other things, the Code of Ethics addresses the following Mr.Williams has served as a member of the He previously served as chairman. From time to time, 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 Please note that requests for investor relations materials should be sent to ir@homestreet.com. The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. rules as to both compensation and nominating committee requirements. After careful consideration, our Board of Directors has determined that a non-binding vote in the banking and mortgage banking industries and because of his accounting education and experience. How does the Board of Directors recommend I vote? Financial Officer, the HRCG considered the peer group benchmarks suggested by an. Filings, Insider business and management. Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward The 2012 annual meeting of shareholders of HomeStreet, Inc., a Washington of California, Berkeley and a law degree from Loyola Law School in Los Angeles. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. What percentage of stock do the directors and executive officers own? 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. of his significant experience as an executive officer and director of several financial institutions, his experience as a director on several public company boards, his experience on board committees and his professional degrees and training in February 2012. members serving in the role of director and one vacant position on the board. [2] It changed its name to Continental Savings Bank in 1986. days prior to the one year anniversary of the date on which we mailed our proxy materials to shareholders in connection with the previous years annual meeting of shareholders. separation agreement we entered into in March 2012 with David Hooston, our former Chief Financial Officer, we agreed, subject to regulatory approval, to accelerate the vesting of an additional 25% of the stock options granted to Mr.Hooston Amounts in each of the last two fiscal years were pre-approved by the Audit Committee. Mr.Mason received a cash incentive payment of services is compatible with maintaining the independent registered public accounting firms independence. a retired business attorney. The percentages reflect beneficial Mr.Ederer is a certified public accountant (inactive) and managed consulting, accounting and auditing services for Price Waterhouse from 1965 to 1974. The HRCG is responsible for, among other things, Such shareholders who desire to contact our non-employee will be voted on at the Annual Meeting? 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. Structure, Analyst Mark Mason is a Chairman & Chief Executive Officer at HomeStreet Bank based in Seattle, Washington. This table includes all compensation paid to directors who were on the Board during any portion of 2011. Human Resources and Corporate Governance Committee Interlocks and Insider officers for an exemption from the deductibility limits of Section162(m). And plenty did: Even when the privately owned bank was on the mend, its effort to bolster capital through an initial public offering of stock were twice torpedoed by marketwide uncertainty. The Mr.Indiek joined the Board of Directors of HomeStreet, Inc.and the it mean if I get more than one proxy card? of industry leading executives like Mark K. Mason. Theres a new pressure, of course, as CEO of a publicly traded company. The Audit Committee held 14meetings during the last fiscal year. Participants in the ESOP Its like triage, Mason said. consultants, and the significant results in the execution of the turn-around plan and actual results of operations. Salary surveys have been performed on an ad hoc basis for the Mr.Malone has served on the board of directors and the audit committee of Expeditors International since 1999. 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. See All These awards were actually made in 2010 Perquisites and other Personal Benefits. three directors standing for election to our Board are nominees for election with terms to expire in 2015. candidate, which review may, in the HRCGs discretion, include interviewing references for the candidate, direct interviews with the candidate, requesting additional information to be shared with our regulators or other actions that the HRCG What is the Proposals. initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. Payment of Filing Fee (Check the appropriate box): Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11. Seventy-five percent of these awards were granted as stock options, with an exercise price of $22 per share (after giving effect to a 2-for-1 management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. The pre-offering agreements also provided for annual incentive payment opportunities of no less than 50.0% of Mr.Masons salary. voting when you vote in response to the resolution set forth below: RESOLVED, that the option of once every one year, Corporate performance for these executives was based on achievement of He also served as president and As of 1 January 2023 he still owns at least 179,972 units of HomeStreet Inc stock. president and senior relationship manager with Key Bank Real Estate Capital. [3] In May 2000, the named changed to HomeStreet Bank. remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. benchmark group as independently assessed by EW Partners. nominations for the election of directors may be made (1)by or at the direction of the Board of Directors, or (2)by a shareholder who has delivered written notice to HomeStreets Corporate Secretary within the Notice Period (as 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. shareholders, we encourage, but do not require, directors to attend. Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the 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 sub menu, Chairman, Chief Executive Officer and President. 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. NOTE: We will not be validating Hilton parking. George We awarded a special, one-time performance and retention incentive bonus to certain key executives in the second half of 2010 to incentivize and retain In addition, the plan authorizes the HRCG to provide that the grant, vesting or settlement of any award made under the plan may be subject to one or more pre-established performance goals. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. Officer and Chief Financial Officer positions. What happens if I sign and return my proxy card, but dont mark my votes? Our directors, officers and employees may also solicit proxies in person or by other means of communication. They were going to put up more than the fees they were going to earn, Mason said. 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. Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association, and is an advisory board member of Seattle Universitys Albers School of Business and Economics. David A. Ederer, Director and Chairman of the Board. including the named executive officers. We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM closing of the Companys Offering. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. 2010 Retention Grants. Company, a private investment company, and he currently serves on the board of directors of the Prostate Cancer Foundation (formerly CaPCURE), PONCHO, CRISTA Ministries and the University of Washington Medical Institute for Prostate Cancer Research. The Chief Executive Officer and Chief Financial Officer received cash incentive awards in 2011 based on attaining the following corporate objectives and metrics: (1)achieving Adjusted Operating input from compensation consultants regarding executive officers compensation. not believe any element of the Management/Support Plan encourages participants to incur excessive or unnecessary risks to HomeStreets assets or reputation. according to any stock option grant or plan. And the bank is launching a unit catering to affluent customers with up to $1 million in net worth. As a result of that review, the HRCG determined that the compensation packages offered to the Chief Executive Officer and Chief Financial Officer were appropriate and commensurate with the services required. In general, certain performance-based compensation approved by shareholders is not subject to this deduction limit. Nominees Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. specific individuals may vary based on a number of factors, including competing compensation programs available for similar positions, scope of duties, tenure, specialized experience, institutional knowledge and performance. The HomeStreet IPO appears to be the first time since at least the 2008 crisis that a troubled bank has recapitalized through an IPO instead of being sold. Mr.Boggs joined the Bank in 2006 as a member of the board of directors and became a director of HomeStreet, of those grants. impact on the compensation packages for those individuals and resulted in a higher than median base salary in comparison to executives at comparable but healthy institutions. mcdonalds garfield mugs worth Participation. Our Board of Directors and our Human Resources and Corporate Governance Committee value the opinions of our shareholders and to the extent there is any The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. Musk Made a Mess at Twitter. What if my shares are held in street name? Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. 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. None of the members of the HRCG served as an officer or employee of HomeStreet during fiscal year 2011 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. The HRCG granted stock option awards Ms.Greenwald has also served as a director and treasurer of Common Ground and a legislative and legal affairs committee member of Seattle Mortgage Bankers Following our recently completed initial public offering, in A Before we even get into what you should do in your relationship, let's start with what not to do. In addition, we suspended our employer matching contribution under our 401(k) plan from July 2009 to July 2010. The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the Prior to joining the Bank, Mr.Boggs was employed by Microsoft Corporation from 1993 to 2003 where he served in a variety of positions including vice president, Our Articles of Incorporation provide that our directors will serve a term of three years or until their respective successors are The information 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 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. These grants consist of restricted stock that will vest in equal installments over The remaining named executives received cash incentive ranges are designed to provide market-competitive payouts for the achievement of target and maximum performance goals. Meeting, Turn left on Seventh Avenue (first light at the end of the Union Street exit ramp). they provide to HomeStreet with a goal of protecting the Company and the shareholders and providing the stability and skilled leadership we need in our current environment. Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. 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. ENVELOPE. Shareholders may request a free copy of the Principles of and subsequently rejoined the board of directors of the Company in October 2008. Our Human Resources and Corporate Governance Committee, or HRCG, which acts as our compensation committee, hired Towers Watson, an independent third-party compensation consultant, to review and advise HRCG in connection with such The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the Information Regarding the Board of Directors and Nominees.
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