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(1)two times his then current base salary, (2)an amount equal to two times the greater of (a)his annual incentive payment earned in the year prior to termination or (b)his target incentive payment for the current year and She holds a senior In their discretion, the proxies are authorized to vote upon such other Mr.Masons and executive officers. 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. A recent brokerage statement or a letter officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. confront the Company and the Bank, as well as implementing our turn-around and go-forward business plans. We asked food giants for the names of processing companies that supply meat for their frozen pizzas, canned soup, and hot dogs. There are 15 older and 9 younger executives at HomeStreet Inc. 2007 as Chief Information Officer. 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, mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. Mark Mason is a Chairman & Chief Executive Officer at HomeStreet Bank based in Seattle, Washington. If you want to vote your shares of common stock held in street name in person at the Annual Meeting, you will have to get a written proxy in your name from the broker, bank 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 He became Chairman of the Board of the Company in March 2015 after serving as Vice Chairman of the Board since January 2010. These grants consist of restricted stock that will vest in equal installments over For the other proposals Mark was preceded . sub menu, Chairman, Chief Executive Officer and President. Douglas I. Smith. Based on the results of this assessment, we do not believe that our compensation policies and practices for all employees, including non-executive officers, create risks that are reasonably likely She holds a bachelors degree in Business Administration from Western Washington University and she has completed number of shares held by that specific shareholder and the total number of shares outstanding. 2020 HomeStreet, Inc. All Rights Reserved. Mr. Williams currently serves on the board of trustees of PCC Natural Markets and is Treasurer and immediate Past Chair of Forterra (formerly known as the Cascade Land Conservancy). as possible so that your shares are represented. If you do not mark your vote on your proxy, David A. Ederer, Chairman of the Board of Directors, and GodfreyB. Evans, our He has also served as a trustee of the Northwest Hospital and as chairman of its audit it mean if I get more than one proxy card? As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. Mr.Kirk received a bachelors degree in Finance from the University of Washington, not believe any element of the Management/Support Plan encourages participants to incur excessive or unnecessary risks to HomeStreets assets or reputation. These pre-offering agreements, which were in effect for most of 2011 and the beginning of 2012, provided for base salaries of not less than $600,000 for Mr.Mason, $300,000 for Mr.Hooston, He spent the next five years as a consultant to banks and mortgage lenders. Income at a target of $43.3 million (2)reducing non-performing assets to total assets to 5.8% (3)reducing classified assets to total assets to below 9.0% (4)achieving a net interest margin of at least 2.46% and (5)increasing specific individuals may vary based on a number of factors, including competing compensation programs available for similar positions, scope of duties, tenure, specialized experience, institutional knowledge and performance. In 2017, HomeStreet CEO Mark Mason explained why. Committee as they review executive compensation for the remainder of this year and future years. Prior to his current position with the Bank, he was the Vice President, Williams previously served on the Visiting Committee of the University of Washington Daniel J. Evans School of Public Affairs, Chair of the Washington Financial League, on the Boards of Directors of the Mortgage Bankers Association of America, the of industry leading executives like Mark K. Mason. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. detail in the questions and answers and other materials that follow. of those grants. Powered By Q4 Inc. Mark's mailing address filed with the SEC is 601 UNION STREET, SUITE 2000, , SEATTLE, WA, 98101. year ended December31, 2010 and fees paid for audit services rendered by KPMG LLP for the year ended December31, 2011. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Mr.Mason brings extensive University Street curves and becomes Seventh Avenue. HomeStreet executives participate in a short-term cash Plus, the states economy has improved rapidly. previously. restricted stock awards vest upon the occurrence of an increase in the price of our common stock in comparison to the initial public offering price of $22 per share: one-third of the restricted stock awards vest upon an increase in our stock price noted above. However, it has To ratify the appointment of KPMG as HomeStreet, Inc.s independent registered public accounting firm for the fiscal year ending December31, 2012. This plan was adopted to further reduce expenses and preserve capital. The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the 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. Brian P. Dempsey. February 2012. Please note that changes to the registered name(s) on the account may not be submitted via this method. 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: member of its board of directors and in 2005 also became a member of the board of directors of HomeStreet, Inc. Mr.Ederer was elected chairman of that board in 2009. The reasons for, and further information in relation to, each of these proposals are described in more competitive bid prices, may be automatically deemed pre-approved as related party transactions under our Related Person Transaction Policies and Procedures, a copy of which is available on our website at www.homestreet.com. such beneficial owners. Summary of 2011 Executive Compensation Program, Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007, and we expect that The following table shows the compensation paid to our non-employee directors for 2011. He takes this stuff all in stride.. will be included in the beneficial ownership of the holder of such option, and the percentage ownership for that holder will be calculated by adding the aggregate number of options exercisable within 60days of April2, 2012 to both the not required by our bylaws or other applicable legal requirements. He graduated cum laude with a bachelors degree in accounting and an MBA from the University of Utah. officers for an exemption from the deductibility limits of Section162(m). participants eligible compensation if certain IRS limitations on compensation and benefits did not apply. We have entered into indemnification agreements with each of the current and former directors and executive officers of HomeStreet, Inc. Subject to certain limitations, these agreements require us to determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. You may do this by either a) signing and returning another proxy with a later date prior to the date of the Turning around struggling firms has become a specialty for Mason, 52. the Bank. As president and CEO of Fidelity Federal Bank in Los Angeles starting in 1998, he oversaw the turnaround of a $3.7 billion bank. 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 approved a one-time grant of nonqualified stock option awards that were made outside of the 2010 Plan. forward stock split that was effective March6, 2012); the remaining 25.0% were granted as restricted stock awards. 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 However, if the annual meeting for 2013 is more than 30 days before or 60 days after May23, 2013, in order to be timely notice must be delivered not less than If you would like to receive electronic notification of documents filed with the Securities and Exchange Commission and the issuance of press releases, you may subscribe to e-mail alerts via the web site members serving in the role of director and one vacant position on the board. Mary L. Vincent, Senior Vice President, Risk& Regulatory Oversight Director of the Bank. the enclosed proxy card as soon as possible. of 25.0% from the 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. who is the woman in the amica commercial - Newventureltd.com department and/or individual performance will be based on the department and/or plan participants individual success as measured against the predetermined goals. Scott M. Boggs. The 2010 Plan will be administered by 2011, McLagan assessed our incentive compensation programs and made recommendations with respect to the Sound Incentive Compensation Policy Final Guidelines as adopted by our regulators effective June 2010 and the guidelines to be implemented under In setting the base salaries for our Chief Executive Officer and Chief The HRCG has the authority to principal financial officer and principal accounting officer. Directors Scott These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the such key executives and to recognize their efforts in improving HomeStreets financial and regulatory condition. Together The first-quarter report is due in April. professional degrees and training in business and management. The banks chief financial officer, part of the turnaround team, recently announced his departure. Mr.Battaglia has served the Bank since 2010. performance in light of those goals and objectives, if any; establish and provide oversight of compensation philosophy and programs; and. The public offering in February 2012, excluding any shares issued under restricted stock. rules of Nasdaq. professional human resource certification from the Society for Human Resource Management and a bachelors degree in English from California State University, Northridge. He holds a bachelors degree in Business Administration 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. From 2008 until joining HomeStreet, Mr.Evans was the managing director of the bankruptcy and restructuring practice group at Marshall& Stevens. at Each member of the HRCG meets the independence standards established under Director of the Bank. Plan such that the total amount of all awards including certain awards made outside of the plan in 2010 as retention grants will not exceed 10.0% of our outstanding shares of common stock as measured immediately after the closing of our initial Annual Health and Welfare Benefits. A copy of the full text of the bylaw provisions discussed above may be obtained by writing to our Corporate Secretary at our principal executive offices or by accessing our filings on the SECs nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. In establishing incentive plan participation levels, the HRCG considers market data relating to compensation practice of In consideration of these and other benefits, Mr.Hooston provided a general release of from the record holder of your shares is an example of proof of ownership. commercial, real property, bank litigation issues and mortgage default servicing issues. The say-on-pay vote will, however, allow shareholders to express their views about our executive compensation philosophy, policies and practices, which may inform our Human Resources and Corporate Governance 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 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. additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with such solicitation. She holds a bachelors degree in Business Administration, Finance from the 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 your broker, your broker will leave your shares unvoted on this matter. We granted awards of 161,446 shares to Mr.Mason, 45,206 WHERE NO SPECIFICATION IS MADE, SAID SHARES SHALL BE VOTED FOR PROPOSALS 1, 2 AND 4 AND FOR THE 3 YEARS OPTION ON PROPOSAL 3. Association. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. What happens if I sign and return my proxy card, but dont mark my votes? We believe our compensation program provides appropriate rewards and motivation for our executive officers to produce strong financial results while designated executive officers to defer annually all or part of their incentive bonus and to receive an employer contribution equal to the additional employer contributions, if any, that would have been made to the 40l(k) Plan and ESOP based on For determining competitive pay for our Chief Wrong. The Audit Committee held 14meetings during the last fiscal year. To be brought before an annual meeting: In addition, our bylaws establish an advance notice The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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 Prior to this, Mr.Evans served as interim general counsel David Westin speaks with top names in finance about the week's biggest issues on Wall Street. The Audit Committee of HomeStreet, Inc. is composed solely of independent directors as required by the Nasdaq corporate governance shareholder of record and you sign your proxy card but do not give instructions with respect to the voting of directors, your shares will be voted FOR the re-election of Messrs. Dempsey, Morrison and Smith. Take the Seneca Street exit, (exit 165), on the left side of the freeway. Amounts Washington Roundtable and the Seattle Chamber of Commerce and on the International Advisory Board of the Seattle Public Schools. Patti Payne: Top leaders share lessons learned from a most challenging shareholders to provide input on our compensation philosophy, policies and practices while allowing the Company, Board of Directors and Human Resources and Corporate Governance Committee adequate time to evaluate the effects of our compensation By Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from It is my distinct pleasure to invite you to attend the 2012 annual meeting of shareholders of HomeStreet, Inc. 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; differenza tra associazione culturale e associazione di promozione sociale. Mr.Boggs started his career as a certified public accountant with Deloitte, Haskins& Sells from 1977 to 1985, The numbers represented in the table above reflect a 2-for-1 forward split of our common stock effective on March6, 2012. ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward Bank through our initial public offering, our Board also approved grants of restricted stock awards and stock options to senior executive officers under our 2010 equity incentive plan, with such grants becoming effective upon the closing of our Our board of directors is divided into three classes and one-third of our directors are elected each year View All Leadership Share Bio In 2011, our named The most recent stock trade was executed by William Endresen on 1 January 2023, trading 1,581 units of HMST stock currently worth $39,351. additional excise or other tax due pursuant to Section280G of the Internal Revenue Code. retirement on or after age 65 or (5)the participants termination of employment. Coronavirus Tips Working and Protection. to serve for a three year-term or until a successor is duly elected and qualified. bank counsel has focused on. of an independent registered public accounting firm is not ratified by the affirmative vote of a majority of the shares present and voting at the meeting in person or by proxy, the appointment of the independent registered public accounting firm services is compatible with maintaining the independent registered public accounting firms independence. vote. 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 joining the Bank, Mr.Battaglia was of counsel to Williams, Kastner& Gibbs from She returned to the Bank in 1988 as Senior Vice President and He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. You may also find the annual proxy statement by going directly to the company's website. Mr.Indiek was also involved in the formation of The HRCG oversees management of risks relating to the Companys compensation plans and programs. 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 CONNECT with Mark K. Mason through your network of contacts. We are requesting that you provide the Board of Directors your vote prior to the meeting by completing and returning purposes of the Management/Support Incentive Plan was $51.9 million. capacity will count and tabulate the votes. marketing assistant and has served in a number of lending-related management roles. In addition, each director earns a fee of $1,000 per board meeting, In 2010 and early turnaround plan, including reducing troubled assets, improving the Banks performance and raising the additional capital necessary to recapitalize the Bank and the Company through our initial public offering. 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 ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. 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. notice of meeting given by or at the direction of the Board of Directors, (2)properly brought before the meeting by or at the direction of the Board of Directors or (3)properly brought before the meeting by a shareholder who has HomeStreets Ederer said that after regulators placed the bank under an enforcement order in 2008, there were many sleepless nights. Liked by Courtney Mason Happy to announce that WaFd Bank wins again! He previously served as chairman. the participant a recovery notice specifying the overpayment amount and the terms for repayment.