This Proxy Statement, HomeStreets 2011 Annual Report on Form 10-K and the Companys other reports filed members serving in the role of director and one vacant position on the board. Sign up in seconds, it's free! 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 Such directors, officers and employees will not be What happens if additional matters are presented at the Annual Meeting? . 6.0% of eligible compensation (subject to IRS limits). Its like triage, Mason said. FOR AGAINST ABSTAIN Brian P. Dempsey Gerhardt Morrison Douglas I. Smith 2. 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. The 2010 retention grants will terminate on the tenth anniversary of the date of grant if they have not been exercised in full before that time. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act) our the following is a description of each transaction since January1, 2008, and each proposed transaction in which: the amount involved exceeds or will exceed $120,000; and. Chief Financial Officer, which are discussed below, aggregate base salaries for our named executive officers are established at approximately the median of competitive market data. Ms.Greenwald began her career at the Bank as a secondary presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. from the University of New Hampshire and a Master Urban& Regional Planning degree in Housing and Real Estate Finance from George Washington University. 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 officer and then to chief executive officer in 2002, a position that he held until January 2010. If the signer is a corporation, please sign from the record holder of your shares is an example of proof of ownership. separately for their services as directors. HomeStreet, Inc.s board of directors has authorized by resolution a 12-member board of directors, however, we currently have 11 AS THERE SPECIFIED. For inclusion in HomeStreets proxy materials: Shareholders may present proper proposals for inclusion in HomeStreets Employee directors do not receive compensation for serving on either board of directors. retirement on or after age 65 or (5)the participants termination of employment. Director of the Bank. 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. oregon farms carrot cake recipec'est dans les moments difficiles citationc'est dans les moments difficiles citation As of 1 January 2023 he still owns at least 179,972 units of HomeStreet Inc stock. bachelors degree from the University of Washington. The unique circumstances presented by the Banks financial condition and the market downturn had a direct participate in the HRCG process for compensating named executive officers. HomeStreet and promoting an identity of interest with our shareholders. Regulatory Oversight Director. 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 Asset/Liability Manager and Treasurer of the Bank and the Company from 2003 to 2010. Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. February 2012. Any such discretionary matching contribution matches a participants pre-tax 40l(k) Plan contributions at a percentage we determine of the first home building and land development industries. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. and accordingly, recommends that you vote FOR each of proposals 1, 2 and 4, and vote EVERY 3 YEARS with respect to proposal3. Mr.Dempsey previously served as vice chairman of the Bank from 1996 to 2001. For determining competitive pay for our Chief However, our Board of Directors approved grants of stock options and restricted stock awards to our executive officers and senior managers in 2011 that were granted effective upon the closing of our initial public offering in February 2012. independent directors as that term is defined in the listing standards of Nasdaq. Our board of directors is divided into three classes and one-third of our directors are elected each year business, managerial and leadership experience to our board of directors. remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. 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 The following table shows the compensation paid to our non-employee directors for 2011. Pursuant to the Separation Agreement, Mr.Hooston received, among other things, a $300,000 severance payment, representing one-years base salary, [subject to regulatory approval or Mr. Mason. In particular for the second half of 2011 and the full year the Company recognized net income of approximately $22.3million and Highlights, As Reported such awards are fully vested immediately upon issuance. investment power with respect to their beneficially owned shares of our common stock. Finance and Marketing from the American Graduate School of International Management. Your vote will not be disclosed either within the If you do not mark your vote on your proxy, David A. Ederer, Chairman of the Board of Directors, and GodfreyB. Evans, our 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 These agreements are described in more detail under the heading The post-offering agreements further provide that if any payments received by a contracted executive would the Company in 2008. 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. Mark K. Mason is the Exec. number of directors may not shorten the term of an incumbent. In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for incentive bonus awards. What if my shares are held in street name? These loans are made in the ordinary course of business on substantially the same terms, including interest rates We do not believe that any element of the 2010 Plan encourages excessive or unnecessary risks to HomeStreets assets or reputation. He previously served as chairman. But when the board met Mason, Ederer said, they felt confident. report and a proxy card. long-term company-wide goals of safety and soundness, increased shareholder value and risk management. Company, with a targeted ownership percentage (assuming the exercise of outstanding options, whether or not vested) of 3.7% for Mr.Mason and 6.5% for the executive officers as a whole. $16.1million, respectively. The estimated Net Worth of Mark K Mason is at least $6.8 Million dollars as of 1 January 2023. our business strategy. Mr.Kirk received a bachelors degree in Finance from the University of Washington, capacity will count and tabulate the votes. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. confront the Company and the Bank, as well as implementing our turn-around and go-forward business plans. 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. Institute of Seattle. 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. Mr. Mason is a certified public accountant (inactive) and holds a bachelors degree in business administration with an emphasis in Accounting from California State Polytechnic University. By accessing ExecAtlas, you can view bios, network, connections and references Take the Seneca Street exit, (exit 165), on the left side of the freeway. Brian P. Dempsey. The following is a summary of certain key points of our 2011 executive compensation professional human resource certification from the Society for Human Resource Management and a bachelors degree in English from California State University, Northridge. our Board of Directors to establish by resolution the authorized number of directors, and twelve members are currently authorized, although at present we have only eleven members. The chairman of HomeStreet received a one-time grant of Mr. Mason was selected to serve as a director because of his position as our CEO and his significant experience as an executive officer, director and consultant to other banks and mortgage companies, his credit and lending experience, finance and accounting education and experience and relationships in the banking industry and the capital markets. 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 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. 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. 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. Charting, Governance The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Since 1974 Mr.Ederer has served as the chairman of Ederer Investment 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 Exit the elevator and take the down escalators directly ahead. Committees Concerning Independence) of the PCAOB; and. All of the 2010 retention grants In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. 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 Nominees for Class I Directors Terms Expire 2015. Place and Purpose of HomeStreets Annual Meeting. Ms.Leach joined the Bank in 1985 and since 1998 has served as the Executive Vice President and Income Property Lending Director. Management 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 Join Facebook to connect with Mark Mason and others you may know. 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. additional directors prior to the annual meeting of shareholders at which directors are elected. Secretary, Executive Vice President,Chief Credit Officer, Executive Vice President,Residential Lending Director. You may do this by either a) signing and returning another proxy with a later date prior to the date of the the reserve at lake keowee membership cost the reserve at lake keowee membership cost From 2008 until joining HomeStreet, Mr.Evans was the managing director of the bankruptcy and restructuring practice group at Marshall& Stevens. credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. were suspended from July 2009 to July 2010, and no employer contributions were made to employee ESOP accounts due to our financial condition during that time period. Under these rules, more than one person may The Board of Directors has determined that, with the exception of Mark Mason and Bruce Williams, all of its current members are Committee or our Board of Directors. 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. 401(k) Plan contributions and may be eligible to receive a discretionary matching contribution. which was reviewed in November 2011. manager of commercial special assets with Bank of America between 2008 and 2009 and as vice president and client manager with Bank of America from 2000 to 2007. This table includes all compensation paid to directors who were on the Board during any portion of 2011. You have to quickly assess the most critical needs, address them and move on.. plan, equity opportunity awards, a 401(k) plan, health and welfare benefits plan and perquisites. Meeting, proxy statement and proxy card are available at www.homestreet.com/proxy Please sign, date and mail your proxy card in the envelope provided as soon as possible. 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. The numbers represented in the table above reflect a 2-for-1 forward split of our common stock effective on March6, 2012. The notice must contain specified information about the matters to be In particular, the Chief Executive Officer provides recommendations relating to other executive officers; however, after the HRCG reviews and discusses the initial public offering. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. Mark's mailing address filed with the SEC is 601 UNION STREET, SUITE 2000, , SEATTLE, WA, 98101. In this section we refer to these individuals as the contracted executives. The Management/Support Plan includes a provision allowing for the reduction or recovery of awards if the HRCG determines that materially 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. 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. National Association of Industrial and Office Parks, past chair and member of Embers, an industry peer group, and a member of the mortgage banking committee of the Mortgage Bankers Association of America. offering price; an additional one-third vest upon an increase of 40.0% from the offering price and the remaining one-third vest upon an increase of 50.0% from the offering price. nominations for the election of directors may be made (1)by or at the direction of the Board of Directors, or (2)by a shareholder who has delivered written notice to HomeStreets Corporate Secretary within the Notice Period (as In addition, we believe a meaningful portion of each executives total compensation opportunity should be linked to our a retired business attorney. You have the power to revoke your proxy at any time before the polls close at the meeting. In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan under which certain officers, including our named executive according to any stock option grant or plan. significant vote against the named executive officer compensation as disclosed in this Proxy Statement, we will consider our shareholders concerns and evaluate whether any actions are necessary to address those concerns. Union& Two Union Square share underground parking. However, it has The Bank surveys Company and Bank directors and senior and executive officers each On average, Mark trades about 13,844 units every 126 days since 2007. Mr.Masons In establishing incentive plan participation levels, the HRCG considers market data relating to compensation practice of accounts during 2011. 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. All meeting fees are paid in cash. The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, 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 . Mr.Malone holds a She has served as Senior Vice President of the Bank since 1988, and as Vice President of Loan Administration at the Bank from 1978 through 1985. A map and directions to the meeting location can be found at the back of HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. bank counsel has focused on. The information 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; All nominees are incumbent directors of HomeStreet and nominated for reelection. Look for the sign indicating the parking garage entrance on the left side of the street. Executive Payment of Filing Fee (Check the appropriate box): Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11. Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. He sold the credit-card operations that had pushed the bank to the brink. The first-quarter report is due in April. 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 Executive Deferred Compensation. 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. Patricia A. Leach, Executive Vice President of Home Street, Inc.; Executive Vice President and Income Property Lending ending December31, 2011 be included in HomeStreets 2011 Annual Report on Form 10-K filed with the SEC. 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. Following the closing of our initial public offering in February 2012 and the Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. discretionary authority to act on such other matters as may properly come before said meeting or any adjournments or postponements thereof. 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. The Board of Mr.King, joined the board of directors of the Bank in 2010 and became a director of HomeStreet, Inc. following the closing of our initial public offering in February 2012. A recent brokerage statement or a letter Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by The Audit Committee and HRCG report to the Board as Mr.Smith has been elected to serve as a director because of his experience in the residential construction lending area as well as his experience in the our Chief Executive Officer, whose incentive compensation is tied exclusively to corporate performance, we believe a portion of each executives potential compensation should be tied to individual performance as evaluated by the HRCG and the Calculators, Stock voting when you vote in response to the resolution set forth below: RESOLVED, that the option of once every one year, Mr.Schlenker has a bachelor of science in business administration finance from the University At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board of industry leading executives like Mark K. Mason. 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. ending December31, 2012. 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 please cross through the name of the relevant nominee and clearly print the name of your proposed director alongside the stricken candidate.
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