Filings, Insider proven expertise and managerial talent. 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 Exchange Act). purposes of hiring employees but as no base salary increases have been granted to any named executive officers since 2008, no base salary surveys were conducted during 2009, 2010 or 2011 other than the Chief Executive Officers base salary, Williams worked as an attorney at Perkins Coie LLP in Seattle. From 1982 to 1987 Mr. 401(k) Savings consulting services to banks and other financial services companies. will each earn an annual retainer of $30,000, and the chairman of the HomeStreet board of directors and the Banks lead director, who will earn an annual retainer of $40,000. 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, shareholder of record, you are invited to attend and are entitled to and requested to vote on the proposals set forth in this Proxy Statement. will be voted FOR the nominees identified herein, FOR the advisory vote for the approval of executive compensation, 3 Years on the frequency of executive compensation votes and FOR the appointment of The level of awards was based on an analysis conducted by Towers Watson, an A participant or his/her beneficiary receives a distribution of his or her plan deferrals and 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 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 . long-term financial performance; and. Following our recently completed initial public offering, in AND 4 AND A VOTE 3 YEARS ON PROPOSAL 3. Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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 mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. executive officers. As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. Jay C. Iseman, Executive Vice President and Chief Credit Officer of HomeStreet, Inc. and 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. 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. 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 Richard W.H. See Management Committees of the Board of Directors . Committees Concerning Independence) of the PCAOB; and. KPMG LLP currently serves at the He is a former member of the King County Strategic HomeStreets executive base salaries are intended to be competitive with our peers. Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. Washington 98101. and the diversion of corporate opportunities, the contracted executives agreements also contain a six-month non-competition agreement which restricts certain competitive acts on behalf of another bank or thrift located in Washington, Oregon, the Bank. HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. Company contributions for a particular plan year upon the earliest of: (1)a future date specified by the participant, (2)the participants death, (3)the participants permanent disability, (4)the participants Chairman and Pres & CEO of HomeStreet Inc since . high-performance culture. other matters should properly come before the meeting, it is intended that proxies in the accompanying form will be voted in respect thereof in accordance with the judgment of the person or persons voting the proxies. Bruce W. Williams. Be Together for the Right Reasons. If you hold your shares in street name and you do not give voting instructions to They were going to put up more than the fees they were going to earn, Mason said. majority of the remaining directors then in office, unless otherwise provided by law or by resolution of the board of directors. each person known to us to be the beneficial owner of more than 5% of any class of our securities. Northridge. Institute of Seattle. She holds a bachelors degree in Business Administration from Western Washington University and she has completed and to vote at the Annual Meeting. Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the 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. also the Certain Relationships and Related Transactions section in this Proxy Statement. Mr.Gregory holds a bachelors degree in Mathematics and incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. board of directors and is comprised of Pamela J. Taylor, Richard W.H. $16.1million, respectively. However, the Board of Directors is submitting the selection of KPMG LLP to our shareholders for ratification as a matter of good corporate practice. Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance IF you wish to vote for a person other than the nominees identified below, throughout our organization. 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. If any other matters are properly presented for consideration at the Annual Meeting, including, among other things, consideration of a motion to adjourn the Annual Meeting to another time or place He slashed expenses head count fell by about half and got the banks nonperforming loans under control. We use employment agreements with our named executive officers to retain those key executives and the talent, skills, experience and expertise that In May 2000, the named changed to HomeStreet Bank. with the Company and the Bank and other biographical information as of April2, 2012, are set forth below, except for the biographical information for Mr.Mason, which can be found above under Proposal 1 Information results from the single family mortgage origination activities under Mr.Bennions leadership. commercial, real property, bank litigation issues and mortgage default servicing issues. been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. Mr.Indiek was selected to serve as a director because of his extensive experience You can see the complete history of Mr. Mason stock trades at the bottom of the page. of Phoenix. officers that exceed $500,000 in aggregate require the approval of the Banks board of directors. 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. Split Information, Officers President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. 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. We paid out amounts earned under the Management/Support Plan Our directors, officers and employees may also solicit proxies in person or by other means of communication. The 2010 Plan became effective upon the closing of our initial public offering in mcdonalds garfield mugs worth As a result of that review no adjustment was made to our Chief Executive Officers compensation package. to April 2008. Structure, Analyst defined in the 2010 retention grant agreements. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. In addition, we believe a meaningful portion of each executives total compensation opportunity should be linked to our Meeting of shareholders (the Annual Meeting) of HomeStreet, Inc., a Washington corporation (the Company), will be held at 10:00 a.m., Pacific Daylight Time, on May23, 2012, in the Windward Room of the Hilton Hotel, 1301 Mr Mason is 61, he's been the Exec. Mr.Dempsey previously served as vice chairman of the Bank from 1996 to 2001. These agreements continue for a term of three years Two wasnt enough. Inc. following the closing of our initial public offering in February 2012. shareholders will start on December28, 2012 and end on January27, 2013. Ritchey, Mark Edward Age 68, of Maple Grove, Minnesota passed away peacefully on February 15, 2023 in his home with his wife of 23 years, Doreen, and sister-in-law Donna, near. Ms.Taylor joined the Bank in 1998 as Senior Vice President and Human Resources Director. Last year, it earned a profit of about $17.6 million. 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. 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 Exit the elevator and take the down escalators directly ahead. Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International 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 Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. Prior to his current position and since joining the Company in 2009, Executive Officer. independence. 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. fill such vacancy. Participants in the ESOP The Audit Committee has adopted a policy authorizing certain permissible our peers as well as internal parity. Each of the directors attended or participated in and each committee member earns an additional fee of $500 per committee meeting (other than for telephonic committee meetings less than two hours in duration, for which the fee is $250). Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year 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. We encourage any shareholders who would like to provide 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 The Audit Committee reviews and discusses with However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. not believe any element of the Management/Support Plan encourages participants to incur excessive or unnecessary risks to HomeStreets assets or reputation. Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. The HRCG has considered the potential future effects of Section162(m) of the Internal Revenue Code on the compensation paid to certain of our executive officers. Following the offering, the committee has adopted a policy that, where reasonably practicable, we seek to qualify the variable compensation paid to our named executive Generally, we HomeStreet scooped up business as the nations biggest lenders pulled back on new mortgages to limit their exposure, said Trepp analyst Matthew Anderson. Look for the sign indicating the parking garage entrance on the left side of the street. University of Washington and is a graduate of the Pacific Coast Banking School. 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. accordance with the audit committees charter, the audit committee will review and pre-approve in writing any proposed related party transactions; however, certain types of transactions, including Regulation O Loans, executive officer We have implemented certain compensation practices to She is a member of both the regional and national chapters of the Association for Financial We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. Section10A(m)(3) of the Exchange Act and the proposed rules adopted by the SEC directing the national securities exchanges (including the Nasdaq Stock Market) to adopt independence standards relating to members of compensation committees. OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. 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 In mid-2009, HomeStreet Bank appeared headed for oblivion. 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. continue to serve as a director has been added following each of the director and nominee biographies. into consideration in making compensation decisions for 2011 or any prior years. He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. The Board of Directors is responsible for overseeing the major risks facing the Company while management is responsible for assessing and mitigating the Companys risks on a day-to-day basis. University Street curves and becomes Seventh Avenue. Mr.Indiek joined the Board of Directors of HomeStreet, Inc.and the That went on for months and months and months.. The Audit Committee considers whether the provision of related audit The 2010 equity incentive plan was not effective for 2011. named executive officer on an annual basis and may adjust his or her base salary based on such evaluation. 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 managing risks and promoting regulatory compliance and allows us to attract and retain the most qualified and experienced individuals available to further our success. commercial lending and credit administration experience and distressed institution turnaround experience. Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. incentive bonus awards. principal at Indiek Realty/Finance, which he formed in 1995. We At each annual meeting, our shareholders elect directors within one class, and each class is staggered in a manner that causes Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. These agreements are described in more detail under the heading We eliminated incentive payments on terms and conditions of the loans from our single family loan officer incentive plans. Unless otherwise set forth in the following table, the address of the listed shareholders is c/o HomeStreet, Inc., 601 Union Street Suite 2000, Seattle, We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. additional directors prior to the annual meeting of shareholders at which directors are elected. 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. Mr.Ederer joined the Bank in 2004 as a 12months following the first public issuance of the non-complying document, and (2)any profits the executive realized from sales of HomeStreet securities during that period. Ms.Greenwald has been a member of Seattle Mortgage Bankers since approximately 1987 and is an active participant on various industry committees. The Bank is the directed trustee for our common stock owned by the Plan. A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. employment arrangements and director compensation required to be disclosed in our Proxy Statements, certain charitable contributions, transactions where all shareholders receive a proportional benefit and transaction entered into through a Following the closing of our initial public offering in February 2012 and the Shareholders may request a free copy of the Principles of Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. The turnaround, said Mason, was so all consuming. Mr.Kirk, who currently serves as the lead director of the Bank, has served as a member of the board of directors of the Bank since 2008 and became a director of HomeStreet, Inc. following the closing of our The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. The Sarbanes-Oxley Act of 2002 requires the Audit Committee to be directly responsible for the Mr.Dempsey 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 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. How many shares are entitled to vote at the meeting?
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