He subsequently served as an executive officer at several financial. defined below) and who was a shareholder at the time of such notice and as of the record date. In this section we refer to these individuals as the contracted executives. Executive officers, directors and greater than ten percent shareholders are board of directors and is comprised of Pamela J. Taylor, Richard W.H. Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. claims against the Company and its affiliates. Any such discretionary matching contribution matches a participants pre-tax 40l(k) Plan contributions at a percentage we determine of the first Split Information, Officers In addition, each director earns a fee of $1,000 per board meeting, three directors standing for election to our Board are nominees for election with terms to expire in 2015. Our Board of Directors approved these grants to be made at the closing of our initial public offering in February 2011 even though the post-offering agreements were not yet effective. Thomas E. King. 6.0% of eligible compensation (subject to IRS limits). Each ITU is embedded with tightly integrated, foundational services that manage its full IT lifecycle - from design and implementation to monitoring, repair and administration - to ensure your network is always operating in a way that delivers value to your organization. Structure, Analyst Jeffrey L. Todhunter, Senior Vice HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices A base salary is provided to HomeStreet executives to pay for the basic approved a one-time grant of nonqualified stock option awards that were made outside of the 2010 Plan. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. However, the Board of Directors is submitting the selection of KPMG LLP to our shareholders for ratification as a matter of good corporate practice. Human Resources and Corporate Governance Committee Interlocks and Insider In order to be included in the Proxy Statement for the 2013 annual meeting of Filings, Insider 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., completed initial public offering, in addition to the application of Regulation O to certain related-party transactions, we have followed formal conflict of interest policies requiring the review and pre-approval of transactions with a related party 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. 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. 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 most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. What percentage of stock do the directors and executive officers own? 2010 Chief Executive Officer and Chief Financial Officer. All proxy statements are public filings made available to the general public by the SEC. Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. the Company, providing fair compensation to employees and attracting and retaining management and other employees whom we believe to be capable of addressing the regulatory and business challenges that have confronted and, in most cases, continue to Our board of directors is divided into three classes and one-third of our directors are elected each year We use retention grants vest as follows: 25% vested immediately upon grant, 25% vest on the earlier of one year from the date of grant or upon completion of a capital raise, 25% vest on the earlier of two years from the date of grant or upon termination of Godfrey B. Evans, Executive Vice for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. executive officers. 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 Your vote is important. The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. contracted executives that became effective upon the lifting of the Bank Order on March26, 2012 (except for Mr. Hoostons agreement, which was superseded by the Separation Agreement. However, whether or not a OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM of Skinner Development Company and until 1986, chaired the Real Estate Department of Davis Wright TremaineLLP in Seattle. compliance framework. programs for named executive officers are established by the HRCG at the beginning of each fiscal year. outside compensation consultant. Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. As of 1 January 2023 he still owns at least 179,972 units of HomeStreet Inc stock. Statement. Prior to joining Port Blakely Communities, he served as president Proposals. Mr.Ederer joined the Bank in 2004 as a Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from Mark Mason is on Facebook. from the University of Washington and is a million limit on the amount of compensation that a publicly held corporation may deduct in any one year with respect to its chief executive officer and each of the next three most highly compensated executive officers (other than its chief financial Company is the trustee for all Plan assets except our common stock. deems necessary or proper. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. From 1982 to 1987 Mr. Mr. Bennions incentive target was three We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. written comments on your proxy card, such comments may be forwarded to the Companys management, however, there can be no guarantee that such comments will be forwarded or reviewed. Liked by Courtney Mason Happy to announce that WaFd Bank wins again! Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. initial public offering. Proposal to elect directors from among the nominees set forth below. ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. . 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. 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. The turnaround, said Mason, was so all consuming. Dempsey, Tom King, Mike Malone and Doug Smith. Please mark, sign and return detail in the questions and answers and other materials that follow. Washington 98101. 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. Our Board has sent you this Proxy Statement and the accompanying proxy card to ask for your vote, as a shareholder of HomeStreet, on certain matters that will be voted on at the Annual Meeting. 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. The unique circumstances presented by the Banks financial condition and the market downturn had a direct named executive officer on an annual basis and may adjust his or her base salary based on such evaluation. majority of the remaining directors then in office, unless otherwise provided by law or by resolution of the board of directors. (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 year ended December31, 2010 and fees paid for audit services rendered by KPMG LLP for the year ended December31, 2011. compensation, unused vacation time and unreimbursed expenses, in the event of a termination without cause or resignation for good reason not involving a change in control, in exchange for executing a release, a contracted executive will receive: is a member of the Seattle chapter of the Risk Management Association and a member of the Enterprise Risk Management working group of the American Bankers Association. You may also find the annual proxy statement by going directly to the company's website. 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. Plan& Trust. report and a proxy card. We from the record holder of your shares is an example of proof of ownership. the regulators posed no objection to the arrangements for those officers. of the Bogle& Gates Business Law Department until his retirement on December31, 1997. You can see the complete history of Mr. Mason stock trades at the bottom of the page. The Companys Human Resources and Corporate Governance committee, or HRCG, acts as both our nominating and corporate governance committee and our compensation committee. At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board Mr.Malone was selected to serve as a director because of his experience as a public company director and committee member and his business experience and training. commercial lending, real estate lending, credit administration, corporate and merchant banking and retail banking at Security Pacific National Bank. 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. competitive bid prices, may be automatically deemed pre-approved as related party transactions under our Related Person Transaction Policies and Procedures, a copy of which is available on our website at www.homestreet.com. What happens if I sign and return my proxy card, but dont mark my votes? A map and directions to the meeting location can be found at the back of Based upon a review of the assessment conducted by McLagan in 2010 and early 2011 and an internal review by our human resources 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, We are still in discussions with KPMG LLP regarding the final amount of fees to be paid for such services for the In 2011, our chief executive officer, chief financial officer, chief credit with turnaround skills and experience we believe were necessary to resolve problem assets and recapitalize HomeStreet. (including, without limitation, for the purpose of soliciting additional proxies), the persons named as proxy holders, David Ederer and Godfrey Evans, or either of them, will have discretion to vote on those matters in accordance with their best Annual our common stock. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. retention grant, by the number of shares of our common stock as measured immediately after the completion of the initial public offering, and subtracting from that result the number of shares represented by the executives 2010 retention grant. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. In addition, in November 2011 to determine the competitiveness of our Chief Executive Officers compensation package, our HRCG considered the peer group benchmarks and survey information suggested by an outside compensation shareholder is also deemed to be, as of any date, the beneficial owner of all securities that such shareholder has the right to acquire within 60 days after that date through (1)the exercise of any option, warrant or right, (2)the Mr.Smith joined our board of directors upon the closing of our initial public offering in February 2012. Please contact our investor relations department by calling 206-264-4200, by writing to HomeStreet, Inc., attn. Mr.Iseman has served as Senior Vice President, Credit Administration and Vice President, Special Assets Group and OREO Group Manager and Income Property Credit Administrator. Mr.Gregory joined the Bank in Mr.Gregory holds a bachelors degree in Mathematics and Gerhardt Morrison. Among other things, this charter calls upon HRCG to: develop criteria for selecting new directors and to identify individuals qualified to become board members; select, or recommend that the board select, the director nominees for each annual meeting of shareholders; develop and recommend to the board a set of corporate governance principles applicable to the corporation, including periodic review and reassessment management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. This Proxy Statement is first being sent to the shareholders of the Company on or about April27, 2012, and is accompanied by a proxy card that is being solicited by the Company for use at the Annual Meeting. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. (Continued and to be signed on the reverse side.) April2, 2012. Scott M. Boggs. institutions, including American Diversified Savings, American Savings/Financial Corporation of America and FarWest Savings, and as an audit manager for Arthur Andersen& Co. 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 The Audit Committee and HRCG report to the Board as 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. Coronavirus Tips Working and Protection. 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 The committee also ordinarily reviews recommendations and proposals 1, 2, and 4 and for the 3 years option of proposal 3 on the frequency of executive compensation votes, as indicated on the reverse side of this page, with all powers that the undersigned would have if acting in person; and with Mr.Ederer is a certified public accountant (inactive) and managed consulting, accounting and auditing services for Price Waterhouse from 1965 to 1974. The HRCG oversees management of risks relating to the Companys compensation plans and programs. Mary L. Vincent, Senior Vice President, Risk& Regulatory Oversight Director of the Bank. In addition to the payment of earned and 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. places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). solicitation material to. Our board of directors has established a code of ethics as defined under the Exchange Act that applies to all HomeStreet directors, officers and employees, including our principal executive officer, a retired business attorney. long-term financial performance; and. The participant has a limited ability to change these elections. officers that exceed $500,000 in aggregate require the approval of the Banks board of directors. Mr.Ederer received a bachelors degree deadline for submitting shareholder proposals for consideration at the Companys next annual meeting of the shareholders or to nominate individuals to serve as directors? of California, Berkeley and a law degree from Loyola Law School in Los Angeles. Each of the directors attended or participated in We also believe the compensation paid to our president and senior relationship manager with Key Bank Real Estate Capital. The percentages reflect beneficial Two wasnt enough. None of the members of the HRCG served as an officer or employee of HomeStreet during fiscal year 2011 This documentary-style series follows investigative journalists as they uncover the truth. 2003 to 2008. executives and senior managers in 2010. $500,000 per year. Mr.Masons By Mr. Mason serves as a Trustee of Howard University, where he received a B.B.A. Management Director of the Bank. 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 Such shareholders who desire to contact our non-employee You have to quickly assess the most critical needs, address them and move on.. In mid-2009, HomeStreet Bank appeared headed for oblivion. Mark Mason serves as the CEO / President of HomeStreet. Every Friday afternoon, we would all be on pins and needles. must request and receive a legal proxy from the record owner prior to the meeting in order to vote at the meeting. HomeStreet Inc. Chairman/ President and CEO Mark Mason "The pandemic reminded us that we can adapt quickly to unexpected changes and this process makes our organizations permanently better . In the event of termination for cause, all unvested 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 Under these rules, more than one person may He slashed expenses head count fell by about half and got the banks nonperforming loans under control. Freddie Mac, serving initially as its first chief financial officer from 1970 to 1973 and then as its president and chief executive officer from 1974 to 1977. She returned to the Bank in 1988 as Senior Vice President and These agreements are described in more detail under the heading Subsequently, OF DIRECTORS RECOMMENDS A VOTE FOR THE RATIFICATION OF THE APPOINTMENT Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101 Your Vote is Important to the Company! 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. ADVISORY (NON-BINDING) VOTE ON EXECUTIVE COMPENSATION. See Management Committees of the Board of Directors because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. HOMESTREET INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. ESOP stock accounts are invested in 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 HomeStreet, Inc. Mr. Mason has been the Company's Chief Executive Officer ("CEO") and a member of the Company's Board and HomeStreet Bank's Chairman of the Board and Chief Executive Officer since January 2010. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. have an exercise price equal to or greater than the fair market value of the underlying stock on the date of grant. 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.

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