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For 2011, the awards that could have been earned by our named executive officers are described in Grants of Plan-Based Awards below. 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. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. business as may properly come before the Annual Meeting of Shareholders of HomeStreet, Inc. directors by mail may do so by writing HomeStreets Corporate Secretary at HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. oversee and make decisions regarding executive management salaries, incentive compensation, long-term compensation plans and equity plans for our Ms. Additionally, we hope that you can attend the meeting in person. the reserve at lake keowee membership cost the reserve at lake keowee membership cost 2020 HomeStreet, Inc. All Rights Reserved. (including, without limitation, for the purpose of soliciting additional proxies), the persons named as proxy holders, David Ederer and Godfrey Evans, or either of them, will have discretion to vote on those matters in accordance with their best our peers as well as internal parity. Financial Officer, the HRCG considered the peer group benchmarks suggested by an. Generally, we have instituted compensation practices intended to meet our complementary goals of preserving the Banks safety and soundness, assuring the survival and success of indemnify these individuals to the fullest extent permitted under applicable law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a result of any proceedings against them as to which they could Mark K. Mason Net Worth (2022) | wallmine Sign up Already have an account? Mr.Malone was selected to serve as a director because of his experience as a public company director and committee member and his business experience and training. In 2004, we adopted a deferred compensation plan which allows Prices, Financial She holds a bachelors degree in Business Administration from Western Washington University and she has completed Pursuant to determining the presence or absence of a quorum for the transaction of business. initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. . PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE PROPOSALS 1. 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. once every six years, how frequently we should seek a non-binding vote on the compensation of our named executive officers, as disclosed pursuant to the SECs compensation disclosure rules, such as Proposal Two of this Proxy Statement. These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. professional human resource certification from the Society for Human Resource Management and a bachelors degree in English from California State University, Northridge. will be reconsidered by the Audit Committee. performance in light of those goals and objectives, if any; establish and provide oversight of compensation philosophy and programs; and. Don't ever be with someone because someone else pressured you to. University of Washington School of Law. officers as a group owned approximately 4.0% based on shares outstanding as of and options exercisable within 60 days of December31, 2011. All nominees are incumbent directors of HomeStreet and nominated for reelection. Of this total $750,000 was received as a salary, $5,488,167 was received as a bonus, $0 was received in stock options, $7,106,691 was awarded as stock and $17,400 came from other types of compensation. Bennion, Executive Vice We granted awards of 161,446 shares to Mr.Mason, 45,206 He previously served as chairman. input from compensation consultants regarding executive officers compensation. This additional discretionary award was for the significant contribution to the companys 2011 operating plan, equity opportunity awards, a 401(k) plan, health and welfare benefits plan and perquisites. 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 A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. not required by our bylaws or other applicable legal requirements. Charles Schwab Trust The SEC has defined beneficial ownership of a security to mean, generally, the possession, including shared possession, directly or indirectly, of voting power or investment power. Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. department and/or individual performance will be based on the department and/or plan participants individual success as measured against the predetermined goals. #H1Rewind Who's "the best team in racing"? We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key Effective upon the closing of our initial public offering on February15, 2012 the majority of our then-existing board of directors resigned and certain new directors were appointed to the vacancies. Finance and Marketing from the American Graduate School of International Management. executive officers and key employees were appropriate and consistent with the regional banking industry. Without a quorum, no business may be transacted at the Annual Meeting. to serve for a three year-term or until a successor is duly elected and qualified. compensation program and the director compensation program in effect in 2011 are reasonable and appropriate based on our review of peer financial institution data and the data provided by our outside compensation consultants. Last year, it earned a profit of about $17.6 million. Please note that requests for investor relations materials should be sent to [email protected]. organizations, including serving on the Advisory Board for the University of Washington, School of Social Work, the board of directors of the Woodland Park Zoo, the board of directors of the Mountain-to-Sound Greenway, the board of trustees of of those grants. HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices Nominees for Class I Directors Terms Expire 2015. they will continue to be so impacted for the foreseeable future. Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. How does the Board of Directors recommend I vote? In addition, each director earns a fee of $1,000 per board meeting, Through much of 2010 and 2011, HomeStreet capitalized on a boom in mortgage refinancing, selling its loans quickly and deploying its capital for new loans. ENVELOPE. needed in our current environment. OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED securities, to file with the Securities and Exchange Commission reports of ownership and reports of changes in ownership of common stock and our other equity securities. Employer matching contributions for the 401(k) Plan IDENTIFY executive and board member connections in Mark K. Mason's network. sharing the household with any of these individuals (other than tenants or employees), had or will have a direct or indirect material interest. 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. HomeStreet CEO Mark Mason talks about the Miss HomeStreet - YouTube In addition, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable programs for named executive officers are established by the HRCG at the beginning of each fiscal year. Unless otherwise specified, all ownership interests or voting power referenced herein, either in percentage terms or number of shares, in respect of the 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 Proposal to elect directors from among the nominees set forth below. Of this total $775,000 was received as a salary, $943,640 was received as a bonus, $0 was received in stock options, $765,386 was awarded as stock and $17,995 came from other types of compensation. From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. program on performance over a longer period. Mr.Kirk was selected to serve as a director because of his business and management experience, his real estate development experience, his knowledge of real estate Last updated: 1 March 2023 at 11:00am EST. take you up to the Hilton Lobby. member of the Washington State and Federal Bar Associations. darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance He is a former member of the King County Strategic The 2010 Plan will be administered by officer and then to chief executive officer in 2002, a position that he held until January 2010. All meeting fees are paid in cash. 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. Ms.Greenwald began her career at the Bank as a secondary What percentage of stock do the directors and executive officers own? 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 Mr.Iseman joined the Bank in August 2009 and currently serves as the Executive Vice President and Chief Credit Officer of the Company and the Bank. The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. 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. is a member of the Seattle chapter of the Risk Management Association and a member of the Enterprise Risk Management working group of the American Bankers Association. HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock 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 . It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from We believe stock ownership by our executive officers helps align the interests of our executive officers Ms.Williams is the sister of A 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 Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. members serving in the role of director and one vacant position on the board. 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 business unit executive officers. Employee directors are not compensated 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. FOLLOW changes in Mark K. Mason's employment. What does Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. $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. 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. The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. participants in this plan for the year ended December31, 2011. 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. 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. Mr.Evans joined HomeStreet in November 2009 and currently serves as the Executive Vice President, General Counsel and Chief We also believe the compensation paid to our HomeStreet and the HomeStreet sub menu, Chairman, Chief Executive Officer and President. 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, He also served as president and The 2012 annual meeting of shareholders of HomeStreet, Inc., a Washington In setting the base salaries for our Chief Executive Officer and Chief Health and Welfare Benefits. HOMESTREET, INC. 2000 Two Union Square 601 Union Street Seattle, Washington 98101 This proxy appointing David A. Ederer and Godfrey B. community bank located in Bellevue, Washington. Please note that changes to the registered name(s) on the account may not be submitted via this method. Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. Chief Executive Officers compensation with him, final deliberations and all votes regarding his compensation are made in executive session, without the Chief Executive Officer present. Upon recommendation of the report and a proxy card. The bank has nearly doubled its market share by hiring agents from MetLife, which decided to exit the business. The HRCG regularly reviews 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 The HRCG typically considers several factors when setting the base executives and senior managers in 2010. previously. Kathleen A. Kanealii, Senior Vice President, Business Banking Director of post-offering agreement provides for a base salary of not less than $500,000; salaries for the other contracted executives will remain the same as under the pre-offering agreements. The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle date of the notice of the meeting in order to be timely. been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. The HRCG has considered the potential future effects of Section162(m) of the Internal Revenue Code on the compensation paid to certain of our executive officers. 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 Mr.Evans is admitted to practice law in California and in Washington, D.C. Mr.Evans holds a bachelors degree and a masters degree in Architecture from the University Inc. following the closing of our initial public offering in February 2012. shareholders, shareholder proposals must be received by HomeStreets Corporate Secretary no later than December 28, 2012, and must otherwise comply with the requirements of Rule 14a-8 of the Securities Exchange Act of 1934, as amended (the The HRCGs criteria and process for evaluating and identifying the candidates that it recommends to the full Board of Directors for selection as director nominees are as follows: In its evaluation of director candidates, including the members of the Board of Directors eligible for re-election, the HRCG seeks to achieve a balance However, all of our executive officers received retention equity grants in 2010 and restricted stock awards and option grants under our In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. Its always better to be lucky than smart and unlucky, said Anderson. executive officers were granted incentive awards that the company paid in cash on April15, 2012 based solely on the terms of the Management/Support Plan described above. $175,013 or 172.4% of his target award. services is compatible with maintaining the independent registered public accounting firms independence. the Company in 2008. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. You may also find these items online, along with our Form 10-K, at http://ir.homestreet.com. Proxy Statement Pursuant to Section14(a) of the, Filed by the Registrantx Filed by a Party other than the awards for 2011 in April 2012 following the completion of our annual audit. participant ceases to be a director. with the SEC are also available on HomeStreets website at http://ir.homestreet.com after the reports are filed with the SEC. (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 Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International each person known to us to be the beneficial owner of more than 5% of any class of our securities. Company TenFour News, Employees and Funding Information, Morristown, NJ 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 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. from the University of Washington. The Bank is subject to the requirements of Regulation O, which board of directors and is comprised of Pamela J. Taylor, Richard W.H. Salary increases ordinarily are effective on January1 of each year. The corporate component for the He became Chairman of the Board of the Company in March 2015 after serving as Vice Chairman of the Board since January 2010. In 2011, our named Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. Salary surveys have been performed on an ad hoc basis for the the cost of preparing, assembling and mailing the notices of the Annual Meeting, Proxy Statement and form of proxy and the solicitation of the proxies? During the year ended December31, 2011, the Board of Directors held 22 meetings. Prior to joining HomeStreet, Ms.Taylor served as executive vice It was incredibly disappointing, given the amount of effort and cost to get to that point, Mason said. The first-quarter report is due in April. 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 results from the single family mortgage origination activities under Mr.Bennions leadership.
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