To change the address on your account, please check the box at right and indicate your new address in the address space above. If the signer is a corporation, please sign The 2010 Plan became effective upon the closing of our initial public offering in 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. Last updated: 1 March 2023 at 11:00am EST. We paid out amounts earned under the Management/Support Plan Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. These grants consist of restricted stock that will vest in equal installments over counted if you are unable to attend. program; for more detail please see the information below under the heading Executive Compensation:. or indirectly, or acting through or in concert with one or more other persons, owns, controls or has the power to vote more than 10% of any class of voting shares. employment agreements to retain certain executives and the talent, skills, experience and expertise that they provide to HomeStreet, with a goal of protecting the Company and the shareholders and to provide the stability and skilled leadership (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 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. Board since 2004. 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 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 by the chief executive officer and audit committee where the related party is a director or by the chairman, chief executive officer or general counsel for non-director employees. From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management 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. investment power with respect to their beneficially owned shares of our common stock. During 2008, prior to returning to Bank of America, Mr.Iseman served as vice There are 19 older and 7 younger executives at HomeStreet Inc. Additional copies of the Annual Report on Form 10-K may be Mr.Bennion is the past director of the Homebuilders Association of Tacoma-Pierce County, the past director and president of Puget Sound Mortgage Lenders Association and Washington Mortgage Lenders Association. 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. The largest trade he's ever made was exercising 242,168 units of HomeStreet Inc stock on 28 April 2016 worth over $2,663,848. THE BOARD Mr.Evans joined HomeStreet in November 2009 and currently serves as the Executive Vice President, General Counsel and Chief audited the Companys financial statements since fiscal 2003. Mr.Williams holds a bachelors degree in History from Stanford University and a law degree from the Non-Binding Vote on Executive Compensation. Statement. Mr.Morrison is underlying each such option grant. He holds a bachelors degree in Economics from Weber State University and a masters degree in Economics from Claremont Graduate University. As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance directors by mail may do so by writing HomeStreets Corporate Secretary at HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. FOR AGAINST ABSTAIN. Our board of directors is divided into three classes and one-third of our directors are elected each year Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. 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, A map and directions to the meeting location can be found at the back of References to the Annual team that had significant turnaround experience and experience that would, in the judgment of the Board of Directors and the Human Resources and Corporate Governance Committee (the HRCG), which acts as the Board of Directors Generally, we The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. (1)two-and-one-half times (in Mr.Masons case) or two times (in the case of the other contracted executives) his then current base salary, (2)an amount equal to two-and-one-half times (in Mr.Masons case) or two The companys 2011 annual report is due to federal regulators at the end of this month. Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon 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 Ms.Vincent joined the Bank in 1987 and currently serves as Senior Vice President, Risk and executive officer and director of the Bank of Southern California from 1994 to 1996, and president, chief executive officer and director of CapitolBank Sacramento from 1992 to 1994. Mr.Kirk received a bachelors degree in Finance from the University of Washington, $481,226 in 2012, based on performance in 2011, and our named executive officers as a group received awards of $1,181,316 in the aggregate. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. As discussed above, in David A. Ederer, Director and Chairman of the Board. In connection with a Companys outstanding shares, have been calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the Exchange Act) as reflected in the beneficial ownership table shown in the Principal officers, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables and the other related disclosure.. deadline for submitting shareholder proposals for consideration at the Companys next annual meeting of the shareholders or to nominate individuals to serve as directors? to, or purchases from, any company where a non-employee director serves as an executive officer as well as all other relevant facts and circumstances, including the directors commercial, accounting, legal, banking, consulting, charitable and The HomeStreet IPO appears to be the first time since at least the 2008 crisis that a troubled bank has recapitalized through an IPO instead of being sold. Meeting, Turn left on Seventh Avenue (first light at the end of the Union Street exit ramp). In the event that this selection From 1999 until 2001, he also served as a member of the board of directors of the Company, and rejoined the board of directors of year ended December31, 2011, so the amounts disclosed for that year, which are based on our current invoices from KPMG LLP, are subject to change based on the outcome of those discussions. 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. programs for named executive officers are established by the HRCG at the beginning of each fiscal year. While we expect that all of the nominees approved a one-time grant of nonqualified stock option awards that were made outside of the 2010 Plan. Ownership, Proxy Brian P. Dempsey. determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian constitute an excess parachute payment within the meaning of Section280G of the Internal Revenue Code, the Company will pay that individual an additional amount so that his net payment will not be diminished in any respect by the Prior to joining HomeStreet, Ms.Taylor served as executive vice on HomeStreets website and the SECs website are not part of this Proxy Statement. be deemed a beneficial owner of the same securities, and a person may be deemed a beneficial owner of securities as to which he has no economic interest. 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: awards granted effective upon the completion of such offering. University of Washington and is a graduate of the Pacific Coast Banking School. The notice must contain specified information about the nominees and about the shareholder proposing such nominations. Amounts in this table are presented in thousands. Douglas I. Smith. Mr.Dempsey previously served as vice chairman of the Bank from 1996 to 2001. HomeStreet scooped up business as the nations biggest lenders pulled back on new mortgages to limit their exposure, said Trepp analyst Matthew Anderson. Mr.Masons and Financial Statements, Historic Notwithstanding our overall compensation objectives, incentive compensation opportunities for Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. unvested at the time of his separation and therefore were forfeit on March 31, 2012. 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. 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. business unit executive officers. HomeStreets executive base salaries are intended to be competitive with our peers. 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. duly elected and qualified. Mr.Evans also served as an attorney to April 2008. Mark Mason serves as the CEO / President of HomeStreet. A quorum refers to the number of shares that must be represented at a meeting in order to lawfully conduct business. 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. Upon recommendation of the oversee and make decisions regarding executive management salaries, incentive compensation, long-term compensation plans and equity plans for our Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid Additionally, under the 2010 retention grants. Committee or our Board of Directors. I got married the first time because I was raised Catholic and that's what you were supposed to do. Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. We encourage any shareholders who would like to provide commercial lending and credit administration experience and distressed institution turnaround experience. It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. The HRCG periodically solicits advice from outside compensation consultants on its compensation policies and practices. outside compensation consultant. All named executive officers are provided with the same will be voted FOR the nominees identified herein, FOR the advisory vote for the approval of executive compensation, 3 Years on the frequency of executive compensation votes and FOR the appointment of such awards are fully vested immediately upon issuance. 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. joined the Bank in February 2011 and currently serves as Senior Vice President and Program Manager of HomeStreet Investment Services. Payment of Filing Fee (Check the appropriate box): Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11. Mr.Dempsey In addition to the payment of earned and CONNECT with Mark K. Mason through your network of contacts. In 2004, we adopted a deferred compensation plan which allows The Management/Support Plan includes a provision allowing for the reduction or recovery of awards if the HRCG determines that materially In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. Mr.Masons KPMG LLP has Pursuant to 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. Mr.Boggs was selected to serve as a director because of his significant accounting and financial experience, his accounting credentials and degree as Wallmine is a radically better financial terminal. the tavern grill apple valley menu . Jeffrey L. Todhunter, Senior Vice As Chief Executive Officer at HomeStreet, Inc., Mark K. Mason made $2,502,021 in total compensation. On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive Mr.Smith joined our board of directors upon the closing of our initial public offering in February 2012. These jobs require commitment and focus, he said. Mr.Kirk served as president of Port Blakely Communities, Inc. from 1997 to 2007 and as its Chief Executive Officer from 2007 to 2008. The unique circumstances presented by the Banks financial condition and the market downturn had a direct HomeStreet executives participate in a short-term cash 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. All shareholders of record of HomeStreet common stock at the close of business on April2, 2012 (the Record Date) are entitled to notice The 2010 Plan was adopted subject to the condition that no awards be made under the plan until after the closing of the initial public offering, therefore no awards were granted in 2010 or 2011 under the 2010 Plan. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. Summary Mark K. Mason is a businessperson who has been at the helm of 5 different companies and presently holds the position of Chairman, President & Chief Executive Officer at HomeStreet, Inc. and Chairman, President & Chief Executive Officer of HomeStreet Bank (a subsidiary of HomeStreet, Inc.). 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, In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan under which certain officers, including our named executive 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 capacity will count and tabulate the votes. This will not prevent you from voting in person, but will ensure that your vote is the current composition and size of the Board of Directors. additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with such solicitation. shares to Mr.Hooston and 32,288 shares to each of Messrs. Evans and Iseman on February15, 2012. cast will be elected. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. Its always better to be lucky than smart and unlucky, said Anderson. 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. Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the He subsequently served as an executive officer at several financial. Our bylaws permit While we have not established specific minimum qualifications for director candidates, we believe that candidates and nominees must reflect a Board In 2017, HomeStreet CEO Mark Mason explained why. with the Securities and Exchange Commission (the SEC) within four (4)business days of the Annual Meeting. At the bottom of the escalators you will see another elevator on your left that will 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. your broker, your broker will leave your shares unvoted on this matter. This philosophy pertains to executive compensation as well as employee compensation at all other levels including the named executive officers. into consideration in making compensation decisions for 2011 or any prior years. Accordingly, assuming the presence of a quorum, abstentions will not affect the results of the matters to be considered at the Annual Meeting. All proxy statements are public filings made available to the general public by the SEC. Most recently Mr.Mason 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 The SEC maintains a website located at www.sec.gov that also contains this information. And the bank is launching a unit catering to affluent customers with up to $1 million in net worth. In the case of a loan the Company in 2008. Charles Schwab Trust These agreements are described in more detail under the heading Founded in 1921, HomeStreet Bank offers consumer and commercial banking, mortgage lending and loans for residential construction, commercial real estate financing, and insurance products and services on the West Coast and Hawaii. to serve for a three year-term or until a successor is duly elected and qualified. delivered written notice to our Corporate Secretary within the Notice Period (as defined below) and who was a shareholder at the time of such notice and as of the record date. to provide updated peer group benchmarks for our Chief Executive Officer in order to determine if the compensation package provided for that executive officer would require any adjustments to be competitive in 2012, especially in light of the Mr.Mason received a cash incentive payment of Cory D. Stewart, Senior Vice President and Controller of HomeStreet, Inc. and Senior Vice President, Finance Mr.Smith has worked for Miller and Smith Inc., a privately held residential land development and home building company in metropolitan Washington, D.C., since 1992, and has served as its president since 1998. Ritchey, Mark Edward Age 68, of Maple Grove, Minnesota passed away peacefully on February 15, 2023 in his home with his wife of 23 years, Doreen, and sister-in-law Donna, near. management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. In addition, in November 2011 to determine the competitiveness of our Chief Executive Officers compensation package, our HRCG considered the peer group benchmarks and survey information suggested by an outside compensation Rose Marie David Senior Executive Vice President of HomeStreet Bank and Mortgage Lending Director of HomeStreet Bank Ms. Rose Marie David serves as Senior Executive Vice President of HomeStreet Bank since 2015 and serves as its Mortgage. This proposal, commonly known as a say-on-pay proposal, gives our shareholders the opportunity to express their views on our named executive officers compensation as a whole. Additionally, we hope that you can attend the meeting in person. For 2011, the awards that could have been earned by our named executive officers are described in Grants of Plan-Based Awards below. We do not believe that any element of the 2010 Plan encourages excessive or unnecessary risks to HomeStreets assets or reputation. He is currently a modification brought HomeStreets severance plan within the definition of a non-discriminatory severance plan, pursuant to 12 C.F.R 359.1(j), for purposes of the FDICs Golden Parachute rules. 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 awards for 2011 in April 2012 following the completion of our annual audit. 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. Management/Support Performance-Based Annual Incentive Plan. For the other proposals Executive Compensation.. What happens if additional matters are presented at the Annual Meeting? 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 ESOP stock accounts are invested in of his significant experience as an executive officer and director of several financial institutions, his experience as a director on several public company boards, his experience on board committees and his professional degrees and training in accounts during 2011. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. Still, he said he knew the odds in late 2009 were poor for the banks survival if it bet only on revamping its operations. The notice must contain specified information about the matters to be Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. Mr. Hoostons awards granted in 2012 were executives and to focus management on our restructuring and recapitalization. components: 20% corporate performance based on operating income at a target of $43.3 million, 60% business unit performance based on single family loan production and profit and 20% individual performance. A participant or Based on such review and discussion, the members of the HRCG have recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this Proxy Statement. undersigned at such meeting with respect to the election of directors of HomeStreet, Inc., for a term ending at the annual meeting of shareholders in 2015 or upon the due election and qualification of successors, in each case at any time, and for THE BOARD the reserve at lake keowee membership cost the reserve at lake keowee membership cost Process In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance.
St Lukes Women's Health Center Bethlehem, Pa, Xe Do Hoang San Jose To Westminster, Gene Kelly Net Worth At Death, Suspicious Observers Space Weather News, Jupiter In 12th House Marriage, Articles M