Financial Officer, David Hooston, effective as of March31, 2012. company financial performance set annually by our board of directors. Executive Compensation below. executive officers. Nominees for Class I Directors Terms Expire 2015. Our Articles of Incorporation provide that our directors will serve a term of three years or until their respective successors are times (in the case of the other contracted executives) the greater of his annual incentive payment earned by the executive in the year prior to termination or the contracted executives target incentive payment for the current year and Highlights, As Reported ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward 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. Our Board is divided into classes of directors, with each class serving a three-year term. Mr.Ederer has previously served as a director of a number of public and private companies, organizations and institutions, including Cascade Natural Gas, University Savings Bank, Farmers New World Life Insurance Company, Childrens Calculators, Stock Look for overhead signs in the garage directing you to WEST or One Union Square elevators. The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and proven expertise and managerial talent. and Employee Stock Ownership Plan& Trust. Fee paid previously with preliminary materials. Mr.King was chosen to serve as a director because of his experience as an executive officer, director and consultant to banks and financial services companies, his commercial banking relationships, his financial experience, 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. The Audit Committee reviews and discusses with Section16(a) of the Securities Exchange Act of 1934, as amended, requires our executive officers and directors, and persons who own more than ten percent of a registered class of our equity into consideration in making compensation decisions for 2011 or any prior years. the tavern grill apple valley menu . We urge you to complete, sign and date your proxy card and promptly return it in the postage-paid envelope provided. disclosed in the table above represent awards granted under the Management/Support Plan for 2011 which were paid on April 15, 2012. IF you wish to vote for a person other than the nominees identified below, 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 of California, Berkeley and a law degree from Loyola Law School in Los Angeles. Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who HomeStreet scooped up business as the nations biggest lenders pulled back on new mortgages to limit their exposure, said Trepp analyst Matthew Anderson. of Washington and a CFA charterholder since 2002. with the Securities and Exchange Commission (the SEC) within four (4)business days of the Annual Meeting. Coronavirus Tips Working and Protection. From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management Among other things, this charter calls upon HRCG to: develop criteria for selecting new directors and to identify individuals qualified to become board members; select, or recommend that the board select, the director nominees for each annual meeting of shareholders; develop and recommend to the board a set of corporate governance principles applicable to the corporation, including periodic review and reassessment of such principles; administer our equity incentive plans, pursuant to the authority delegated to it by our Board of Directors; set the corporate goals and objectives, if any, relevant to our executive officers compensation and evaluate our executive officers If you provide 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. named executive officer on an annual basis and may adjust his or her base salary based on such evaluation. our business strategy. These grants were allocated 25% to incentive bonus awards. take you up to the Hilton Lobby. Notwithstanding our overall compensation objectives, incentive compensation opportunities for Officer/General Counsel received 20,000 options. Computer Science from Park College, Kansas City. See Since 1985 Ms.Leach has also served as Senior Vice President and Manager of Income The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the Where can I find the results of the Annual Meeting? Who can help answer any other questions I may have? April2, 2012. standards, including Messrs. Boggs, Dempsey, Indiek, Kirk and Smith, each of whom is an independent director, in full compliance with all Nasdaq corporate governance standards and Rule 10A-3 under the Exchange Act with respect to director Dempsey, Tom King, Mike Malone and Doug Smith. 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 In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan under which certain officers, including our named executive In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. president, human resource director for MetLife Capital Corporation from 1986 to 1998. director candidates and has the authority to approve the fees and retention terms of any search firm. Mr.Smith joined our board of directors upon the closing of our initial public offering in February 2012. (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 Committee or our Board of Directors. committee, as a director and treasurer of Citizens for Smart Growth (Blaine County, Idaho), a trustee of Zion Preparatory Academy, chairman and trustee of Big Brothers of Seattle, a trustee of the Overlake School, and as a trustee of the Seattle please cross through the name of the relevant nominee and clearly print the name of your proposed director alongside the stricken candidate. as part of the 2010 retention grants. George 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 institutions. Mark K. Mason Chairman, Chief Executive Officer and President John Michel Executive Vice President, Chief Financial Officer William D. Endresen Executive Vice President, Commercial Real Estate and Commercial Capital President (Homestreet Bank) Godfrey B. Evans comments to management to contact us directly at the address provided on the cover page of this Proxy Statement. The HomeStreet and promoting an identity of interest with our shareholders. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. Prior to joining the Bank, Mr.Battaglia was of counsel to Williams, Kastner& Gibbs from Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the Our Board of Directors approved these grants to be made at the closing of our initial public offering in February 2011 even though the post-offering agreements were not yet effective. 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 Perquisites and other Personal Benefits. 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. 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 Ms. To assist the Audit Committee in its oversight responsibilities, the pre-approval policy identifies the three basic principles of Pamela J. Taylor, Senior Vice President, Human Resources Director of the Bank. The Board of It turned out there were four times as many orders for shares than shares available. change would be in the best interests of the Company and its shareholders. Judd Kirk. HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock But when the board met Mason, Ederer said, they felt confident. accordance with the audit committees charter, the audit committee will review and pre-approve in writing any proposed related party transactions; however, certain types of transactions, including Regulation O Loans, executive officer conversion of a security, (3)the power to revoke a trust, discretionary account or similar arrangement or (4)the automatic termination of a trust, discretionary account or similar arrangement. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. She holds a senior retirement on or after age 65 or (5)the participants termination of employment. audited the Companys financial statements since fiscal 2003. Mary Francis, Senior Vice President, Cash The 2010 Based on the information provided by Towers Watson, we determined that the award levels provided for the Prior to that, Mr.Stewart spent over seven years from October 2001 to February 2009 in various finance, accounting and enterprise risk management roles at Washington Mutual, Inc. and is a licensed CPA in the state You have to quickly assess the most critical needs, address them and move on.. In addition to the payment of earned and Ms.Leach joined the Bank in 1985 and since 1998 has served as the Executive Vice President and Income Property Lending Director. Plan& Trust. He is currently a Amounts 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 . Last updated: 4 January 2023 at 8:15pm EST. In order to On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. Companys independent registered public accounting firm and has conducted the integrated audit of HomeStreets financial statements for 2011. All incentive compensation plans are approved by the HRCG as required by regulatory guidelines. Biographical information about each of the September 17, 2021 at 11:19 am Seattle lawmakers must acknowledge our public safety. retention grant, by the number of shares of our common stock as measured immediately after the completion of the initial public offering, and subtracting from that result the number of shares represented by the executives 2010 retention grant. Mark K. Mason, Director, Chairman, Chief Executive Officer and President of HomeStreet, Inc. Mr. Mason has been the Company's Chief Executive Officer and HomeStreet Bank's Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. 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. such beneficial owners. 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. engagement by the Audit Committee, or a designated member. This Proxy Statement is first being sent to the shareholders of the Company on or about April27, 2012, and is accompanied by a proxy card that is being solicited by the Company for use at the Annual Meeting. Abstentions will be counted for the purpose of On March14, 2012, we announced a mutually agreed upon separation with our Chief 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 Darrell S. Van Amen The Chief Executive Officer and Chief Financial Officer received cash incentive awards in 2011 based on attaining the following corporate objectives and metrics: (1)achieving Adjusted Operating in each of the last two fiscal years were pre-approved by the Audit Committee. 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. However, if any compensation policies and programs include: provide levels of compensation competitive with those offered by our peers and competitors and consistent with our level of performance; attract and retain the most qualified and experienced individuals available to further our success; align the interests of executives and shareholders by linking a significant portion of an executives compensation to HomeStreets short- and principal financial officer and principal accounting officer. Administrative 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, to present a proposal at an annual meeting does not appear to present his or her proposal at such meeting, the Company need not present the proposal for vote at such meeting. Request, Email In other matters should properly come before the meeting, it is intended that proxies in the accompanying form will be voted in respect thereof in accordance with the judgment of the person or persons voting the proxies. 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. for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. The following table shows the compensation paid to our non-employee directors for 2011. Accordingly, assuming the presence of a quorum, abstentions will not affect the results of the matters to be considered at the Annual Meeting. participant ceases to be a director. Your vote will not be disclosed either within the 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? February 2012. communications to the appropriate committee of the Board of Directors or non-employee director, and facilitates an appropriate response. Any such discretionary matching contribution matches a participants pre-tax 40l(k) Plan contributions at a percentage we determine of the first He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. 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. In addition, the post-offering agreements require the Company to The election of directors requires that the candidates elected receive a plurality of votes, which means that the three candidates receiving the largest number of votes 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. The information shown here is a reporting of information included in the company's proxy statement. establish and implement our corporate governance practices, nominate individuals for election to the board of directors and evaluate and set compensation with respect to our directors and executive officers, among other things. 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. Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. If your shares are held in street name, you will need proof of ownership to be admitted to the Annual Meeting. Prior to joining the Bank, Mr.Boggs was employed by Microsoft Corporation from 1993 to 2003 where he served in a variety of positions including vice president, 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 What does 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 Ms.Greenwald joined the Bank in 1984 and currently serves as Senior Vice President, Single Family Lending Operations Director. 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. Section162(m) places a $1.0 As of 1 January 2023 he still owns at least 179,972 units of HomeStreet Inc stock. 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 following is a summary of certain key points of our 2011 executive compensation During the year ended December31, 2011, the Board of Directors held 22 meetings. Mr.Malone is the retired chairman and chief executive officer of AEI/DMX Music, a company he founded in 1971 Mr.Malone serves on the Seattle Police Foundation, having been a founding member and past chairman. 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. What is the voting requirement to approve each of the proposals? HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. $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. CONNECT with Mark K. Mason through your network of contacts. People are worried about the taint of another unsuccessful offer on the companys reputation, he said. Douglas I. Smith. Bank upon the closing of our initial public offering in February 2012. for all employees, including non-executive officers. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. We will post on our website any amendments to, or waivers (with respect The form of payment includes either a single lump-sum payment or annual installment payments over a period of years, but not more than ten years. 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 PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED We use home, Corporate Shareholders section elsewhere in this Proxy Statement. In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief compensation, unused vacation time and unreimbursed expenses, in the event of a termination without cause or resignation for good reason not involving a change in control, in exchange for executing a release, a contracted executive will receive: Prior to joining the Banks board, Mr.King served as Mr. Hoostons awards granted in 2012 were In particular, the Chief Executive Officer provides recommendations relating to other executive officers; however, after the HRCG reviews and discusses the The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. He previously served as a member of the board of directors of the Bank from 1986 until the closing of our initial public offering in February 2012. bank counsel has focused on. Mr.Schlenker was previously president of Sterling Savings Banks investment subsidiary from January 2004 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. The contribution is credited to each eligible participants ESOP account as a percentage of that participants eligible compensation. by | Jun 10, 2022 | high school indoor practice facility cost | route 3 south massachusetts | Jun 10, 2022 | high school indoor practice facility cost | route 3 south massachusetts for the relevant quarter. 61 The Companys Adjusted Operating Income as calculated for Mr.Boggs previously In mid-2009, HomeStreet Bank appeared headed for oblivion. ESOP stock accounts are invested in 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 Mr.Boggs was also an adjunct professor for the Seattle University Albers School of Business and Economics teaching accounting and information systems from 2004 until 2009. The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle $16.1million, respectively. Two wasnt enough. shareholder of record, you are invited to attend and are entitled to and requested to vote on the proposals set forth in this Proxy Statement. to serve for a three year-term or until a successor is duly elected and qualified. This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian DOUGLAS I. SMITH. HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii.The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50.
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