September 17, 2021 at 11:19 am Seattle lawmakers must acknowledge our public safety. Ms. Williams served as a The stock options vest ratably in thirds over each of the first three anniversaries of the completion of the offering, while the executive officers. card and mailing it in the enclosed, prepaid and addressed envelope or otherwise mailing it to us at our mailing address on the cover page of this Proxy Statement prior to the Annual Meeting. Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. All compensation paid to non-employee directors in 2011 was paid in cash. 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). Mr. Mason. counted if you are unable to attend. 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. Beginning in 2009, we imposed a general freeze on salary increases and in 2009, 2010 and 2011 we also suspended contributions to the Employee Stock What percentage of stock do the directors and executive officers own? We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key Mr.Dempsey previously served as vice chairman of the Bank from 1996 to 2001. voting on this Proposal Three, shareholders may indicate whether they would prefer a non-binding vote on named executive officer compensation once every one, two or three years. ENVELOPE. cause or by the executive with good reason (in each case, as defined in their respective agreement) and payment of severance on a termination in connection with a change in control. As discussed above, in Highlights, As Reported Based upon a review of the assessment conducted by McLagan in 2010 and early 2011 and an internal review by our human resources Mark Mason - Black Entrepreneur & Executives Profiles In 2000, he was promoted to president and chief operating Thomas E. King. purposes of the Management/Support Incentive Plan was $51.9 million. At each annual meeting, our shareholders elect directors within one class, and each class is staggered in a manner that causes inaccurate financial information was used in setting that award or if the recipients activities posed risk to the Company. The Sarbanes-Oxley Act of 2002 requires the Audit Committee to be directly responsible for the 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. Chairman, Chief Executive Officer and President The remaining named executives received cash Financial Statements, Historic on HomeStreets website and the SECs website are not part of this Proxy Statement. The 2012 annual meeting of shareholders of HomeStreet, Inc., a Washington A discussion of the qualifications, attributes and skills of each nominee that led our Board of Directors and the Human Resources and Corporate Governance Committee to the conclusion that he should Bennion and Patricia A. Leach. Executive Compensation.. KPMG. they will continue to be so impacted for the foreseeable future. Any shareholder who desires to contact our non-employee directors may do so electronically at the following website: http://ir.homestreet.com. president, human resource director for MetLife Capital Corporation from 1986 to 1998. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. Governance - Officers & Directors - HomeStreet Bank for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. He has also served as a trustee of the Northwest Hospital and as chairman of its audit After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. From 1969 to 1992, Mr.King held various senior positions in managing risks and promoting regulatory compliance and allows us to attract and retain the most qualified and experienced individuals available to further our success. HomeStreet Bank - Wikipedia The HRCG will determine the amount of any award that was overpaid as a result of inaccurate information and will send The chart on this page features a breakdown of the total annual pay for Mark K. Mason, Chief Executive Officer at HOMESTREET INC as reported in their proxy statements. This information is according to proxy statements filed for the 2021 fiscal year. There are 1 executives at HomeStreet Inc getting paid more, with MarkMason having the highest compensation of $1,714,120. In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, Abstentions will be counted for the purpose of Shareholder ratification of the selection of KPMG LLP is 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 shareholders will start on December28, 2012 and end on January27, 2013. Ms.Greenwald has been a member of Seattle Mortgage Bankers since approximately 1987 and is an active participant on various industry committees. Newly created directorships resulting from any increase in the authorized number of directors or any vacancies in the board of directors may be filled solely by the affirmative vote of a (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 Pamela J. Taylor, Senior Vice President, Human Resources Director of the 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. 2010 Chief Executive Officer and Chief Financial Officer. Executive Officer in November 2011, we considered survey-based information aggregating compensation statistics for similarly situated institutions as well as compensation information for Chief Executive Officers from institutions in our peer and to vote at the Annual Meeting. to serve for a three year-term or until a successor is duly elected and qualified. determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. Jeffery D. Schlenker, Senior Vice President, Program Manager of HomeStreet Investment Services of the Bank. All incentive compensation plans are approved by the HRCG as required by regulatory guidelines. Mr.Morrison was selected to serve as a director The following table sets forth certain information with respect to the board of directors of HomeStreet, Inc., including their ages as of Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. candidate, which review may, in the HRCGs discretion, include interviewing references for the candidate, direct interviews with the candidate, requesting additional information to be shared with our regulators or other actions that the HRCG The 2010 Plan allows for a range of equity grants, including stock options, restricted stock or restricted stock units, stock bonuses or Employment Agreement - Mark Mason (post-offering) - SEC The plan Executive 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. 2010 Equity Incentive Plan. control by the Company other than for cause or by the contracted executive for good reason, in conjunction with a mutual release agreement, the contracted executive will receive an amount equal to the sum of: Process The Bank is subject to the requirements of Regulation O, which A map and directions to the meeting location can be found at the back of In addition to the payment of accrued and unpaid salary and incentive Turning around struggling firms has become a specialty for Mason, 52. Sign up Already have an account? View All Leadership Share Bio As a result of that review, the HRCG determined that the compensation packages offered to the Chief Executive Officer and Chief Financial Officer were appropriate and commensurate with the services required. With the exception of from $1.125 to $1.50 per share. If you are the beneficial owner of shares held by a broker in street name, your broker, as the record holder of the shares, is required to vote the shares in accordance with your instructions. Board since 2004. We do of Directors (the Board) to vote on two non-binding proposals relating to executive compensation, and to ratify the selection of the Companys independent registered public accounting firm of for the year ending December31, and other employees whom we believe to be capable of addressing the regulatory and business challenges confronting the Company and the Bank and execute our business strategy. in finance and graduated with honors. from the University of Washington and is a our executive compensation program was designed appropriately and is working to align the interests of our management team with the interests of our shareholders to support long-term value creation. All notices of proposals by shareholders, whether or not included in our proxy materials, should be sent to our Corporate Secretary at our principal executive offices. He has been a project manager at Quantum Partners since 2007 where he manages FDIC receiverships, including the disposition of the assets of failed banks. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. IDENTIFY executive and board member connections in Mark K. Mason's network. IF you wish to vote for a person other than the nominees identified below, the approval of executive compensation. . website at www.sec.gov. 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. Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. core deposits by at least 3.0%. 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 Agreement) in connection with that departure. She holds a bachelors degree in Economics from Southern Oregon College. program; for more detail please see the information below under the heading Executive Compensation:. (Continued and to be signed on the reverse side.) home building and land development industries. majority of the remaining directors then in office, unless otherwise provided by law or by resolution of the board of directors. I have not played golf in three years now.. HomeStreet CEO Mark Mason talks about the Miss HomeStreet - YouTube In 2011, our named These factors include compensation surveys, the officers level of experience and responsibilities, parity of positions with similar responsibilities and the officers performance. He has previously served as a member of the Mark K. Mason - Biography - MarketScreener With regard to candidates who are properly recommended by shareholders or by other means, the HRCG will review the qualifications of any such In 2004, we adopted a deferred compensation plan which allows The HRCG will apply these same principles when evaluating Board candidates who may be elected initially by the full Board to fill vacancies or add We paid out amounts earned under the Management/Support Plan 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, 4. The Seattle-based bank's mortgage banking segment lost $16.7 million last year as interest. (Communication With Audit Committees), as amended and adopted by the Public Company Accounting Oversight Board (PCAOB) in Rule 3200T; received the written disclosures and the letter from the independent registered public accounting firm required by Rule 3526 (Communication with Audit principal at Indiek Realty/Finance, which he formed in 1995. It is my distinct pleasure to invite you to attend the 2012 annual meeting of shareholders of HomeStreet, Inc. professional degrees and training in business and management. TRIENNIAL VOTE AS THE FREQUENCY WITH WHICH SHAREHOLDERS ARE PROVIDED AN Boggs, Brian Dempsey, Victor Indiek, George Judd Kirk and Douglas Smith were elected to serve on the Audit Committee effective on the closing of our initial public offering on February15, 2012. In mid-2009, HomeStreet Bank appeared headed for oblivion. All employees, including our named executive officers, are eligible to make pre-tax The Dodd-Frank Act also enables our shareholders to indicate, at least Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive #H1Rewind Who's "the best team in racing"? the reserve at lake keowee membership cost - miapetty.com Mr.Williams was selected to serve as a director because of his experience as an executive officer, director of the Bank, legal degree and experience and involvement in local community affairs in Seattle. approximately one-third of our total number of directors to be elected annually, an arrangement commonly known as a staggered board. Mr. Ms.Vincent If we are required to restate our financials due to noncompliance 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, 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. Additionally, Management/Support Performance-Based Annual Incentive Plan. with turnaround skills and experience we believe were necessary to resolve problem assets and recapitalize HomeStreet. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. Mark K. Mason - Executive Bio, Work History, and Contacts - Equilar Committee Membership of Directors of HomeStreet, Inc. Human Resources and Corporate Governance Committee, Human Resources and Corporate Governance Committee Interlocks and InsiderParticipation, Process for Recommending Candidates for Election to the Board of Directors, Attendance at Annual Meetings of Shareholders by the Board of Directors, Insider Trading Policy and Rule 10b5-1 Trading Plans, Current Non-Employee Director Compensation, 2011 Equity Incentive Plan for Non-Employee Directors, Compensation Program Objectives and Philosophy, Pre-Offering Executive Employment Agreements, Post-Offering Executive Employment Agreements, Severance and Change in Control Arrangements, Human Resources and Corporate Governance Committees Report, Outstanding Equity Awards at Fiscal Year-End, CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, Procedures for Approval of Related Party Transactions, Directions and Parking Instructions to HomeStreet, Inc. Corporate Secretary, General Counsel and Chief Administrative Officer, will vote your shares as recommended by the Board of Directors: FOR each of the director nominees identified herein, EVERY 3 YEARS for Proposal 3 and FOR approval of the other engagement by the Audit Committee, or a designated member. Human Resources and Corporate Governance Committee Interlocks and Insider our peers as well as internal parity. 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, each person known to us to be the beneficial owner of more than 5% of any class of our securities. Peer group benchmarking was not used over the three preceding years for other management positions because we were not increasing base salaries for those other officers. way, the Board of Directors may decide that it is in the best interests of our shareholders and the Company to hold an advisory vote on executive compensation more or less frequently than the option approved by our shareholders. Our bylaws permit 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. Under these rules, more than one person may ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward 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 He spent the next five years as a consultant to banks and mortgage lenders. 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 Mr.Williams holds a bachelors degree in History from Stanford University and a law degree from the procedure for shareholders who wish to present certain matters before an annual meeting of shareholders. the Bank. Before we even get into what you should do in your relationship, let's start with what not to do. In addition, we suspended our employer matching contribution under our 401(k) plan from July 2009 to July 2010. See Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. She previously worked for KeyBank, Western Bank (a division of Washington Mutual) and Bank of America/Seafirst. Without a quorum, no business may be transacted at the Annual Meeting. Chairman and Pres & CEO of HomeStreet Inc since . The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. independence of our auditors; review and approve non-audit services, including a reconciliation of fees actually paid for non-credit services as compared to fees previously approved AND 4 AND A VOTE 3 YEARS ON PROPOSAL 3. Ms.Greenwald has also served as a director and treasurer of Common Ground and a legislative and legal affairs committee member of Seattle Mortgage Bankers reward and motivate appropriate executive behavior that produces strong financial results while managing risks and promoting regulatory compliance. Mr.Smith holds an MBA from Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. The turnaround, said Mason, was so all consuming. Mr.Boggs previously During the year ended December31, 2011, the Board of Directors held 22 meetings. A non-binding advisory vote for 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. 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. A quorum refers to the number of shares that must be represented at a meeting in order to lawfully conduct business. will be able to qualify for and accept office, if for any reason a nominee is unable or declines to serve as a director at the time of the Annual Meeting, the proxies will be voted for any nominee who shall be designated by the Board of Directors to Mark K. Mason, Director, Chairman, Chief Executive Officer and President of HomeStreet, Inc. Mr. Mason has been the Companys Chief Executive Officer and HomeStreet Banks Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. Our directors, officers and employees may also solicit proxies in person or by other means of communication. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. The established incentive targets as a percentage of base salary are: 50.0% for the Chief Executive Officer, 40.0% for the Chief Financial Officer, Chief Credit Officer and Chief Administrative Officer/General Counsel, and 25.0% to 50.0% for She has served as treasurer at Northwest Associated Arts since 1995. 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 Mark Edward Ritchey Obituary | Star Tribune Our Board recommends that you vote your shares: FOR the three nominees as director (Proposal 1), FOR the approval, by non-binding vote, of executive compensation (Proposal 2). This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Data Fraud Is Focus To Bolster Chinas Lackluster Carbon Market, China Gives New Backing to Coal Even as Clean Energy Accelerates, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? 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. brought before the meeting. A copy of this charter is available on our website at http://ir.homestreet.com. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Mr.Boggs is also qualified as an audit committee financial expert., The Companys board In performing their oversight responsibilities, the Board and Audit Committee periodically discuss with management the Companys policies with respect to risk assessment and risk management. ending December31, 2012. We issued an aggregate of 356,969 shares of our common stock as part at officers that exceed $500,000 in aggregate require the approval of the Banks board of directors. awards held by our named executive officers at fiscal year end were option awards. He subsequently served as an executive officer at several financial. These grants consist of restricted stock that will vest in equal installments over Regulatory Oversight Director. Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. also the Certain Relationships and Related Transactions section in this Proxy Statement. The 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. under the 2010 retention grants. 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, Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from you'll be able to: Access over 1,500,000 executive and board member profiles. Open 61 retained Amalfi Consulting, LLC, now McLagan, as an independent third-party consulting company specializing in providing compensation consulting services to financial institutions, to assess our compensation programs and policies. HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. If you are a Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. Mr.Dempsey Mary Francis, Senior Vice President, Cash Financial Officer, David Hooston, effective as of March31, 2012. Mr.Williams has served as a member of the three-year terms, with one-third of the board of directors elected at each Annual Meeting of shareholders. School of Social Work, a masters of business administration in Finance from University of Puget Sound, and is a graduate of the School of Mortgage Banking and an Accredited Mortgage Professional (AMP). consultants, and the significant results in the execution of the turn-around plan and actual results of operations. Compensation Information for Mark K. Mason, Chief Executive Officer of THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE DIRECTOR NOMINEES, A VOTE FOR PROPOSALS 2 During 2011, Directors David Ederer, Brian Dempsey, Janet Westling and Bruce Williams served on the Companys Audit Committee. The current terms of the executive officers will expire at such time as their successors are elected. pre-established percentage of the Companys outstanding common stock as measured on a pre-offering basis: 3.7% for Mr.Mason, 1.0% for Mr.Hooston, and 0.7% for each of Messrs. Evans and Iseman. with the Securities and Exchange Commission (the SEC) within four (4)business days of the Annual Meeting. darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. The 2010 equity incentive plan was not effective for 2011. HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. employees and consultants. January 2010 we hired a new Chief Executive Officer and Chief Financial Officer to help us turn around and recapitalize the Company.

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