What does Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. 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. committee, as a director and treasurer of Citizens for Smart Growth (Blaine County, Idaho), a trustee of Zion Preparatory Academy, chairman and trustee of Big Brothers of Seattle, a trustee of the Overlake School, and as a trustee of the Seattle ownership positions and transactions involving derivative securities relating to our common stock. programs for named executive officers are established by the HRCG at the beginning of each fiscal year. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief By These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the members serving in the role of director and one vacant position on the board. Such recommendations must also include a statement from the recommending shareholder in support of the candidate, particularly within the context of the criteria for Board membership, including issues of Your vote will not be disclosed either within the There are 1 executives at HomeStreet Inc getting paid more, with Mark Mason having the highest compensation of $1,714,120. 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 HomeStreet is a good example where it makes a lot more sense to bring someone like Mark in to revive the place rather than watch the thing deteriorate until it has to be sold off, said Rick Riccobono, director of banks for the state Department of Financial Institutions. Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. Williams worked as an attorney at Perkins Coie LLP in Seattle. 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, Where can I find the results of the Annual Meeting? under the 2010 retention grants. place until the lifting of a Cease and Desist Order that had been imposed on the Bank by the Federal Deposit Insurance Corporation and Washington Department of Financial Institutions, which we refer to as the Bank Order. The Bank Order Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net with the Securities and Exchange Commission (the SEC) within four (4)business days of the Annual Meeting. However, if you hold your shares in street name (in the name of a bank or some other nominee), you Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. does costco optical accept iehp; pride and ego in a relationship; how many players on a nba playoff roster; who sells morning star bamboo flooring; zoroastrian deity physiology; We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. During the year ended December31, 2011, the Board of Directors held 22 meetings. any of our directors, executive officers or beneficial holders of more than 5% of our capital stock, or any immediate family member of or person In late 2009, when Riccobono was head of the Federal Home Loan Bank of Seattle, and himself dealing with orders from regulators, he received a small package from Masons office a red refrigerator magnet with a phrase the British coined as they endured World War II: Keep Calm and Carry On., I have to tell you, thats Mason, Riccobono said. to April 2008. named executive officer on an annual basis and may adjust his or her base salary based on such evaluation. Union& Two Union Square share underground parking. 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 Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. report and a proxy card. Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who In addition to the prohibitions against solicitation of customers and employees We believe it is critical to HomeStreets success to attract, retain and incentivize highly qualified executives and to promote a brought before such meeting and about the shareholder proposing such matters, including information related to the shareholders ownership interest in the Company and any material interests of the shareholder in the business desired to be and subsequently rejoined the board of directors of the Company in October 2008. A majority of our directors satisfy the definition of independent director under the corporate governance Association. Ms.Leach is a member of the board of directors of the Seattle Housing Resources Group, member of Commercial Real Estate Women, member of Interest earned on participant deferrals and employer contributions under the plan is equal to the average five-year daily treasury rate This proxy, when properly executed, will be voted in the manner directed herein by the undersigned shareholder(s), but if no direction is made, this proxy On average, Mark trades about 13,844 units every 126 days since 2007. Participation levels in all incentive Process 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. Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). the cost of preparing, assembling and mailing the notices of the Annual Meeting, Proxy Statement and form of proxy and the solicitation of the proxies? Ms.Greenwald joined the Bank in 1984 and currently serves as Senior Vice President, Single Family Lending Operations Director. The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. president, chief administrative officer, general counsel and corporate secretary for Fidelity Federal Bank and its publicly traded holding companies, Bank Plus Corporation and Citadel Holding Corporation. Section16(a) of the Securities Exchange Act of 1934, as amended, requires our executive officers and directors, and persons who own more than ten percent of a registered class of our equity principal at Indiek Realty/Finance, which he formed in 1995. Thomas E. King. The HRCG will determine the amount of any award that was overpaid as a result of inaccurate information and will send He takes this stuff all in stride.. 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. Facebook gives people the power to share and makes the world. vote. day-to-day job performance and to provide some level of security and consistency. The HRCG granted stock option awards In 2011, we also entered into new employment agreements (the post-offering agreements) with each of the These HomeStreet had planned to complete its IPO in early August. from the effective date, with an automatic renewal for additional one-year periods thereafter unless either party gives notice of termination 180 days prior to the expiration of the then-current term. We have created strong controls over the process for designing, implementing and monitoring incentive pay, which are incorporated into the overall Among other things, the Code of Ethics addresses the following Open reward and motivate appropriate executive behavior that produces strong financial results while managing risks and promoting regulatory compliance. As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive incentive bonus awards. We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding 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 did amanda kenney leave wtaj - drsujayabanerjee.com of directors has adopted a written Audit Committee charter that meets the requirements of the applicable Exchange Act rules and the applicable Nasdaq corporate governance standards. 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. Mr.Boggs is also qualified as an audit committee financial expert., The Companys board Employee directors do not receive compensation for serving on either board of directors. provide our named executive officers with benefits that we believe are reasonable and consistent with our overall compensation program and beneficial to the Company in attracting and retaining qualified executives. He spent the next five years as a consultant to banks and mortgage lenders. Officer/General Counsel received 20,000 options. Each member of the HRCG meets the independence standards established under Our General Counsel receives these communications unfiltered by HomeStreet, forwards Mr.Battaglia has served the Bank since 2010. We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key 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. In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above, Among other things, the audit committee charter requires the Audit Committee to: oversee the financial reporting process on behalf of our board of directors, review and discuss the audited financial statements with management and Look for overhead signs in the garage directing you to WEST or One Union Square elevators. The components of this plan are described in more detail below under 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. Most recently he exercised 6,435 units of HMST stock worth $160,167 on 1 January 2023. Godfrey B. Evans, Executive Vice In 2000, he was promoted to president and chief operating or other nominee who holds your shares. cast will be elected. 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 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 Mr.Williams has served as a member of the throughout our organization. We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. You have to quickly assess the most critical needs, address them and move on.. Mark Mason is on Facebook. The Audit Committee reviews and discusses with officers for an exemption from the deductibility limits of Section162(m). 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. Its like triage, Mason said. The HRCGs Committee Report is included in this Proxy We believe stock ownership by our executive officers helps align the interests of our executive officers Thank you for your ongoing support of and continued interest in HomeStreet, Inc. The Audit Committee and HRCG report to the Board as Non-Binding Vote on Executive Compensation. For determining competitive pay In 2011, our chief executive officer, chief financial officer, chief credit Prior to joining the Banks board, Mr.King served as Ms.Leach received her bachelors degree in Anthropology A 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. principles: maintaining accurate and complete records; maintaining integrity of consultants, agents and representatives; and. delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. Ownership Plan (ESOP). 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. A copy of this charter is available on our website at http://ir.homestreet.com. In 2004, we adopted a deferred compensation plan which allows 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 Ms. Douglas I. Smith. This report is not for commercial use. rules of Nasdaq. initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. Please submit your proxy by mail in accordance with Other than as set forth in this section, the [4] Its current headquarters are in Seattle, Washington. Kathryn A. Williams, Senior Vice President and Community Relations Director of the 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 He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. He has also served as a trustee of the Northwest Hospital and as chairman of its audit The unique circumstances of the Bank required special compensation arrangements to attract individuals with these specialized THE BOARD It was a big credibility issue for them as well.. The HRCG held 14meetings during the last fiscal year. 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. The remaining named executives received cash corporation (the Company or HomeStreet) will be held at 10:00 a.m., local time, on May23, 2012, in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101. Repertory Theatre. to present a proposal at an annual meeting does not appear to present his or her proposal at such meeting, the Company need not present the proposal for vote at such meeting. 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 Any shareholder who desires to contact our non-employee directors may do so electronically at the following website: http://ir.homestreet.com. Mr.Indiek was also involved in the formation of Filings, Insider purposes of the Management/Support Incentive Plan was $51.9 million. engagement by the Audit Committee, or a designated member. If you are a 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 The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, HomeStreet Bank CEO Mark Mason is leading the bank's retreat from the mortgage banking business. A non-binding advisory vote for Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International 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 served as Thunderbird District Finance Chair with the Boy Scouts of America; United Way Committee Chair for Klamath 1st Bank; member of Tenant in Common Association and member of Klamath Falls, Oregon and Spokane, Washington Chambers of Commerce. All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. 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 Last year, it earned a profit of about $17.6 million. 2010 Retention Grants. The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. of Washington and a CFA charterholder since 2002. ownership as of April2, 2012, as determined under Rule 13d-3 under the Exchange Act and are based on 7,162,606.8 shares of our common stock outstanding as of that date. Mr.Evans joined HomeStreet in November 2009 and currently serves as the Executive Vice President, General Counsel and Chief KPMG LLP currently serves at the Prior to working at HomeStreet, Mr. Williams served for two years in the U.S. Peace Corps as a college professor in Liberia. 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 Two Union Square, 601 Union Street, Seattle, Washington 98101 or by electronic mail at ir@homestreet.com. All proxy statements are public filings made available to the general public by the SEC. Please note that changes to the registered name(s) on the account may not be submitted via this method. Be Together for the Right Reasons. Documents, Information Mr.Masons and We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation We are requesting that you provide the Board of Directors your vote prior to the meeting by completing and returning 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. 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. Mr. 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. Employer matching contributions for the 401(k) Plan skills. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. our peers as well as internal parity. the Cascade Land Conservancy Advisory Board. he serves on the National Council of the National Trust for Historic Preservation, the board of directors of the Northwest African American Museum, and the board of directors of Capitol Hill Housing in Seattle. All employees, including our named executive officers, are eligible to make pre-tax 2020 HomeStreet, Inc. All Rights Reserved. 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 . 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. In 2017, HomeStreet CEO Mark Mason explained why. directors from 1998 to 2002. We are Request, Email Theres a new pressure, of course, as CEO of a publicly traded company. Accordingly, assuming the presence of a quorum, abstentions will not affect the results of the matters to be considered at the Annual Meeting. Our bylaws permit Finance and Marketing from the American Graduate School of International Management. 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. In establishing incentive plan participation levels, the HRCG considers market data relating to compensation practice of 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 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 These agreements continue for a term of three years Financial Officer, David Hooston, effective as of March31, 2012. Mr.Williams began serving as an officer of the Company in 1990, first as our general counsel and then as a senior vice president. defined below) and who was a shareholder at the time of such notice and as of the record date. 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, the tavern grill apple valley menu - chemtechspeciality.com From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC, and he served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank, and The Bjurman Barry Family of Mutual Funds. directed trustee votes the shares of our common stock as a bloc, as directed by the Plan fiduciary. 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 Regulatory Oversight Director. Based upon a review of the assessment conducted by McLagan in 2010 and early 2011 and an internal review by our human resources The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the such awards are fully vested immediately upon issuance. When shares are held jointly, each holder should sign. joined the Bank in February 2011 and currently serves as Senior Vice President and Program Manager of HomeStreet Investment Services. Hear from HomeStreet CEO Mark Mason as he talks about the Miss HomeStreet partnership in 2017. Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. You can vote in person at the meeting. ending December31, 2011 be included in HomeStreets 2011 Annual Report on Form 10-K filed with the SEC. additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with such solicitation. HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock approved a one-time grant of nonqualified stock option awards that were made outside of the 2010 Plan. Turn right onto Sixth Avenue (first light at the end of the Seneca Street exit ramp), Turn right at University Street ( be careful to stay left of the concrete divider that separates the two-lane access road around the Union Square 1. In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan under which certain officers, including our named executive We also believe the compensation paid to our 75% or more of the aggregate of the total number of meetings of the Board of Directors and the total number of meetings held by all committees of the Board of Directors on which that director served during the past fiscal year. The pre-offering agreements also provided for annual incentive payment opportunities of no less than 50.0% of Mr.Masons salary. IDENTIFY executive and board member connections in Mark K. Mason's network. 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 and 40.0% of the other contracted executives salaries, as well as specified and discretionary equity compensation awards. He recently joined a golf club, too, and has plans for a family vacation. With this letter, we are including the notice for the annual meeting, the Proxy Statement, the 2011 annual Mark K. Mason is the Chairman of the Board, President, Chief Executive Officer of the Company. From 1982 to 1987 Mr. We do not believe that any element of the 2010 Plan encourages excessive or unnecessary risks to HomeStreets assets or reputation. according to any stock option grant or plan. In addition, each director earns a fee of $1,000 per board meeting, In addition, we believe a meaningful portion of each executives total compensation opportunity should be linked to our 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. Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. 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 Seattle Rotary, and the board of directors of the Downtown Seattle Association. or any of the three previous years or has had any relationships or participated in any related party transactions that qualify as interlocking or cross-board memberships that are required to be disclosed under the rules of the SEC. It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from participant ceases to be a director. HomeStreet Bank - Officers & Directors
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