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 Liked by Courtney Mason Happy to announce that WaFd Bank wins again! Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. leave. Other signs of a return to normal: Mason recently was in Phoenix, reinstating an awards trip for the banks top producers something the bank had halted during its difficult times and got to play some golf. In 2011, we also entered into new employment agreements (the post-offering agreements) with each of the Our Board is divided into classes of directors, with each class serving a three-year term. At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board 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 Mr.Boggs started his career as a certified public accountant with Deloitte, Haskins& Sells from 1977 to 1985, The HRCG has the authority to Additionally, The 2010 Section162(m) places a $1.0 officer and chief administrative officer and general counsel entered into employment agreements with the Company, each of which requires the payment of severance and acceleration of certain stock options in the event of a termination by us without See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. If you wish to give specific instructions with respect to the voting of directors, you may do so by indicating your instructions on your proxy card. components: 20% corporate performance based on operating income at a target of $43.3 million, 60% business unit performance based on single family loan production and profit and 20% individual performance. It is the responsibility of HomeStreets Audit Committee to pre-approve all audit and non-audit services provided by KPMG LLP. Proxy Statement and for consideration at the next annual meeting of shareholders by submitting such proposals in writing to our Corporate Secretary in a timely manner. rules as to both compensation and nominating committee requirements. We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that vote. As a Perquisites include health club will be reconsidered by the Audit Committee. 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 In Ms. Williams served as a 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 The SEC maintains a website located at www.sec.gov that also contains this information. protecting proprietary information and proper use of assets. Since 1974 Mr.Ederer has served as the chairman of Ederer Investment 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 Ms.Greenwald joined the Bank in 1984 and currently serves as Senior Vice President, Single Family Lending Operations Director. Susan C. Greenwald, Senior Vice President, Single Family 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. Last updated: 1 March 2023 at 11:00am EST. Abstentions will be counted for the purpose of Proxy Statement Pursuant to Section14(a) of the, Filed by the Registrantx Filed by a Party other than the A participant or his/her beneficiary receives a distribution of his or her plan deferrals and To view Mark K. Mason's complete executive work history, 1100 Marshall Street, Redwood City, CA 94063 | Phone (650) 241-6600 | Fax (650) 701-0993, President, Chief Executive Officer and Director, Former Senior Executive Vice President and Mortgage Lending Director, HomeStreet Bank, Sign up now to view Mark K. Mason's 74 connections . We believe our compensation program provides appropriate rewards and motivation for our executive officers to produce strong financial results while Ms.Williams received a bachelors degree in Sociology from University of Washington, a masters degree in social work from University of Washington 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. notice of meeting given by or at the direction of the Board of Directors, (2)properly brought before the meeting by or at the direction of the Board of Directors or (3)properly brought before the meeting by a shareholder who has and subsequently rejoined the board of directors of the Company in October 2008. Pamela J. Taylor, Senior Vice President, Human Resources Director of the Bank. 6.0% of eligible compensation (subject to IRS limits). (1)two-and-one-half times (in Mr.Masons case) or two times (in the case of the other contracted executives) his then current base salary, (2)an amount equal to two-and-one-half times (in Mr.Masons case) or two year ended December31, 2010 and fees paid for audit services rendered by KPMG LLP for the year ended December31, 2011. Mr.Mason brings extensive deems necessary or proper. 90 days nor more than 120 days prior to the actual date of the 2013 meeting; provided, that if the notice of such meeting is less than 100 days before the date of such meeting, notice of such proposal must be made not less than 10 days after the Corporate Governance at the address and phone numbers set forth above. For inclusion in HomeStreets proxy materials: Shareholders may present proper proposals for inclusion in HomeStreets these persons had or shared the right to vote or dispose of approximately 13% of our common stock as of the Record Date. Plus, the states economy has improved rapidly. 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. Mr.Indiek joined the Board of Directors of HomeStreet, Inc.and the sharing the household with any of these individuals (other than tenants or employees), had or will have a direct or indirect material interest. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. [6][7] In 2012, in order to satisfy regulatory capital requirements, it raised $89 million in an IPO, ending four generations of control by the Williams family. be indemnified. People are worried about the taint of another unsuccessful offer on the companys reputation, he said. audited the Companys financial statements since fiscal 2003. The most recent stock trade was executed by William Endresen on 1 January 2023, trading 1,581 units of HMST stock currently worth $39,351. detail in the questions and answers and other materials that follow. 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 mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. 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. throughout our organization. the specific instructions set forth in the enclosed proxy card. The committee also ordinarily reviews recommendations and He also February 2009 to March 2012. Regarding the Board of Directors and Nominees. Except for Bruce Williams, director, and Kathryn Williams, Senior Vice President, Community Relations, who are siblings, there are no family relationships among any of our directors or & Directors, Committee management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. Prior to joining San Diego Community Bank, he served as executive vice president and chief operating officer of Fullerton Community Bank from 1997 to 1998, president and chief Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. 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. Adjusted Operating Income at a target of $43.3 million. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. 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. She holds a bachelors degree in Business Administration from Western Washington University and she has completed He has also served as a trustee of the Northwest Hospital and as chairman of its audit Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly Information Regarding the Board of Directors and Nominees. previously. He graduated cum laude with a bachelors degree in accounting and an MBA from the University of Utah. Shareholder recommendations for candidates to the Board of Directors must be directed in writing to HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101, Attention: General Counsel, and must include the #H1Rewind Who's "the best team in racing"? 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. KPMG LLP currently serves at the 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. (2)such factors as issues of character, integrity, judgment, diversity of experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like, and (3)such long-term financial performance; and. These grants consist of restricted stock that will vest in equal installments over senior managers upon the closing of our initial public offering, which we completed in February 2012, in order to maintain the existing ownership percentage targets for those executive officers and senior managers. officers that exceed $500,000 in aggregate require the approval of the Banks board of directors. of such principles; administer our equity incentive plans, pursuant to the authority delegated to it by our Board of Directors; set the corporate goals and objectives, if any, relevant to our executive officers compensation and evaluate our executive officers We do not currently anticipate that any other matters will be raised at the Annual Meeting. The following is a summary of certain key points of our 2011 executive compensation Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. restricted stock awards and 75% to stock options; the stock options vest ratably on the first, second and third anniversaries of the completion of the initial public offering while the restricted stock grants vest upon the occurrence of certain Unless otherwise indicated, we believe that each of the shareholders listed has sole voting and Director of Communications and Marketing, subsequently moving to her current position of Senior Vice President, Director of Community Relations in 2000. Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. proven expertise and managerial talent. The estimated Net Worth of Mark K Mason is at least $6.8 Million dollars as of 1 January 2023. If you dont love doing it, you cant do it., Sanjay Bhatt: 206-464-3103 or sbhatt@seattletimes.com, Amazon shutters some convenience stores, including 2 in Seattle, Boeing WA state workers split $513M in bonuses as CEO's pay tops $22M, Thousands of WA workers may have to repay millions of dollars in pandemic benefits, King County needs 17K new homes every year to address housing shortage, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs. OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF. No equity grants were made in 2011 to any of our named executive officers. Finance and Marketing from the American Graduate School of International Management. Shareholders section elsewhere in this Proxy Statement. THE BOARD duly elected and qualified; An advisory, non-binding vote on executive compensation; An advisory, non-binding vote on the frequency of executive compensation votes once every one, two or three years; and. Malone. As the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc, the total compensation of Mark Mason at HomeStreet Inc is $1,714,120. presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. modification brought HomeStreets severance plan within the definition of a non-discriminatory severance plan, pursuant to 12 C.F.R 359.1(j), for purposes of the FDICs Golden Parachute rules. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. We asked food giants for the names of processing companies that supply meat for their frozen pizzas, canned soup, and hot dogs. Mr.Boggs is also qualified as an audit committee financial expert., The Companys board attract and retain executive talent. directors and consultants and to provide a means whereby officers, employees, directors and consultants can acquire common stock or earn incentive compensation based on the value of our common stock, thereby strengthening their commitment to Mr. 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. The proposals scheduled to be voted on at the Annual Meeting are: The election of the three Class I directors listed in this Proxy Statement to serve for a term of three years or until their respective successors are Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. of Phoenix. Companys outstanding shares, have been calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the Exchange Act) as reflected in the beneficial ownership table shown in the Principal Plan such that the total amount of all awards including certain awards made outside of the plan in 2010 as retention grants will not exceed 10.0% of our outstanding shares of common stock as measured immediately after the closing of our initial Mr.Bennion also received a discretionary award of $124,987 for a total award of $300,000. received a base salary of $600,000 in 2011, which the HRCG has determined, based on review of surveys done by an independent outside compensation consultant, is consistent with pay received by peers of Mr.Mason at similarly situated financial Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon Please detach along perforated line and mail in the envelope provided. Mark K. Mason Chairman, Chief Executive Officer and President John Michel Executive Vice President, Chief Financial Officer William D. Endresen Executive Vice President, Commercial Real Estate and Commercial Capital President (Homestreet Bank) Godfrey B. Evans : Investor Relations, 2000 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 Wallmine is a radically better financial terminal. As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive The Audit Committee reviews and discusses with Idaho or Hawaii. He previously served as chairman. Financial Statements, Historic ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. Shareholder ratification of the selection of KPMG LLP is HRCG is responsible for setting the policies and compensation levels for our directors and named executive officers and for determining the compensation of our Chief Executive Officer. Seventh Avenue runs under the Union Square buildings and the garage entrance is mid-block on the right side of the street. BRIAN P. DEMPSEY, GERHARDT MORRISON AND However, it has 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. 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 IDENTIFY executive and board member connections in Mark K. Mason's network. As discussed above, in George Bennion, Executive Vice You can vote in person at the meeting. 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. This documentary-style series follows investigative journalists as they uncover the truth. [10], On March 24, 2020, HomeStreet suspended its $27 million stock buyback plan during the COVID-19 pandemic. 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. All proxy statements are public filings made available to the general public by the SEC. Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. 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 Bank. The election of directors requires that the candidates elected receive a plurality of votes, which means that the three candidates receiving the largest number of votes outside compensation consultant. The HRCG has reviewed the Compensation Discussion and Analysis included in this Proxy Statement and discussed it with Prior to joining the Bank, Mr.Battaglia was of counsel to Williams, Kastner& Gibbs from incentive plan in order to increase performance and to achieve annual goals. 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. In the course of determining the independence of each non-employee director, the Board of Directors considered the annual amount of HomeStreets sales Employees are eligible to participate in the 401(k) Plan if they meet the applicable service requirements and are at least 18 years old. independence. He subsequently served as an executive officer at several financial. Directors Scott Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. Nominees for Class I Directors Terms Expire 2015. In the case of a loan 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 University's Albers School of Business and Economics. of the Washington Savings League. However, if the annual meeting for 2013 is more than 30 days before or 60 days after May23, 2013, in order to be timely notice must be delivered not less than Because the Bank Order was terminated in March 2012 and replaced with an informal memorandum of understanding, these options are now vested as to 75% of the stock ending December31, 2011 be included in HomeStreets 2011 Annual Report on Form 10-K filed with the SEC. The banks chief financial officer, part of the turnaround team, recently announced his departure. 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. 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. Therefore, no specific target and maximum award opportunities were defined for 2011 and no awards were earned for 2011 performance results. Named Executive Officers. 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 determination of beneficial ownership of securities. All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years 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 Our board of directors is divided into three classes and one-third of our directors are elected each year He recently joined a golf club, too, and has plans for a family vacation. 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. Are you Mark K. Mason? Filings, Insider OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED of those grants. Ms.Williams is the sister of Exchange Act). voting when you vote in response to the resolution set forth below: RESOLVED, that the option of once every one year, A recent brokerage statement or a letter We issued an aggregate of 356,969 shares of our common stock as part 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 all proxy cards to ensure that all your shares are voted. I got married the first time because I was raised Catholic and that's what you were supposed to do. Change in Control Arrangements. Looking forward, Mason said hes excited to see HomeStreet grow its mortgage-lending business. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief Darrell van Amen, Senior Vice President, Asset/Liability Manager, Treasurer of the Additionally, we hope that you can attend the meeting in person. In addition, the post-offering agreements require the Company to From January 2010 until March 2015, Mr. Mason was the Vice Chairman of the Companys Board. He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. Mr.Indiek was also involved in the formation of input from compensation consultants regarding executive officers compensation. In addition, any options exercisable within 60 days of April2, 2012 (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 On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. Ms.Vincent The plan provides one week of pay for every year of service with a minimum payment of two weeks and a maximum payment of 24 weeks.