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Be Together for the Right Reasons. Since retiring from San Diego Community Bank following its sale to First Banks, Inc. in 2006, Mr.King has provided In addition to the payment of earned and what brands of chicken are processed in china 2020 this zookeeper instance is not currently serving requests OF DIRECTORS RECOMMENDS A VOTE FOR THE RATIFICATION OF THE APPOINTMENT Since 1985 Ms.Leach has also served as Senior Vice President and Manager of Income the enclosed proxy card as soon as possible. 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 inaccurate financial information was used in setting that award or if the recipients activities posed risk to the Company. FOLLOW changes in Mark K. Mason's employment. Notification, Privacy Please note that requests for investor relations materials should be sent to ir@homestreet.com. Submitted by the Audit 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 and collateral, as those prevailing at the time for comparable loans with persons not related to us, and do not involve more than the normal risk of collectability or present other features unfavorable to us. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Executive Compensation below. Meeting, proxy statement and proxy card are available at www.homestreet.com/proxy Please sign, date and mail your proxy card in the envelope provided as soon as possible. We encourage any shareholders who would like to provide $500,000 per year. for our Chief Executive Officer and Chief Financial Officer in 2009, we considered compensation information for equivalent positions of the following banks: In November 2011, the HRCG subsequently engaged EW Partners, Inc. (EW Partners) Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. With this letter, we are including the notice for the annual meeting, the Proxy Statement, the 2011 annual Chairman, Chief Executive Officer and President Washington 98101. importance of Mr.Mason to our recapitalization and turnaround plans. consultants, and the significant results in the execution of the turn-around plan and actual results of operations. Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. 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 Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. Mr.Boggs is also qualified as an audit committee financial expert., The Companys board shareholders will start on December28, 2012 and end on January27, 2013. (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 CONNECT with Mark K. Mason through your network of contacts. Accordingly, we ask our shareholders to vote FOR the following resolution at the Annual Meeting: RESOLVED, that the Companys shareholders approve, on an advisory basis, the compensation of the named executive officers, as retention grants vest as follows: 25% vested immediately upon grant, 25% vest on the earlier of one year from the date of grant or upon completion of a capital raise, 25% vest on the earlier of two years from the date of grant or upon termination of initial public offering in February 2012. Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year Sign up Already have an account? See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. We paid out amounts earned under the Management/Support Plan Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association, and is an advisory board member of Seattle Universitys Albers School of Business and Economics. Generally, we Change in Control Arrangements. Place and Purpose of HomeStreets Annual Meeting. differenza tra associazione culturale e associazione di promozione sociale the reserve at lake keowee membership cost the reserve at lake keowee membership cost Michael J. Mr. Mason was selected to serve as a director because of his position as our CEO and his significant experience as an executive officer, director and consultant to other banks and mortgage companies, his credit and lending experience, finance and accounting education and experience and relationships in the banking industry and the capital markets. While we expect that all of the nominees All of the 2010 retention grants According to Trepp, a provider of bank ratings, about half the banks that were under regulatory restrictions as of May 2009 when HomeStreet was ordered to improve its finances and management have since failed or been acquired. The Bank surveys Company and Bank directors and senior and executive officers each change would be in the best interests of the Company and its shareholders. From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. As we were not publicly traded prior to February10, 2012, the HRCG did not previously take this deductibility limit Company is the trustee for all Plan assets except our common stock. salaries of each named executive officer. Ms.Leach previously served as chairperson of Embers, chairperson of the Affordable Housing Committee, co-chairperson of the Multifamily Committee, a member of the board of directors of Common Ground, a member of the in each of the last two fiscal years were pre-approved by the Audit Committee. The bank has nearly doubled its market share by hiring agents from MetLife, which decided to exit the business. A participant or In late 2009, when Riccobono was head of the Federal Home Loan Bank of Seattle, and himself dealing with orders from regulators, he received a small package from Masons office a red refrigerator magnet with a phrase the British coined as they endured World War II: Keep Calm and Carry On., I have to tell you, thats Mason, Riccobono said. Computer Science from Park College, Kansas City. 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. full corporate name by duly authorized officer, giving full title as such. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. Ms.Leach joined the Bank in 1985 and since 1998 has served as the Executive Vice President and Income Property Lending Director. As the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc, the total compensation of Mark Mason at HomeStreet Inc is $1,714,120. [11], "Continental, Inc." redirects here. These The bank then launched another roadshow, but delayed its IPO a second time in December due to turmoil in global markets. In order to provide additional equity-based compensation incentives and to reward key personnel who had played an important role in stabilizing and recapitalizing HomeStreet and the Bank, the HRCG approved However, if any Mark K. Mason, Director, Vice Chairman, Chief Executive Officer and President of Bennion and Patricia A. Leach. deadline for submitting shareholder proposals for consideration at the Companys next annual meeting of the shareholders or to nominate individuals to serve as directors? Information Regarding the Board of Directors and Nominees. Based on the information provided by Towers Watson, we determined that the award levels provided for the 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 Company TenFour News, Employees and Funding Information, Morristown, NJ The following table sets forth certain information with respect to the board of directors of HomeStreet, Inc., including their ages as of the HRCG. However, it has additional directors prior to the annual meeting of shareholders at which directors are elected. In the event that this selection But when the board met Mason, Ederer said, they felt confident. What happens if additional matters are presented at the Annual Meeting? We believe our compensation program provides appropriate rewards and motivation for our executive officers to produce strong financial results while home building and land development industries. with the SEC are also available on HomeStreets website at http://ir.homestreet.com after the reports are filed with the SEC. HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. Susan C. Greenwald, Senior Vice President, Single Family The percentage of payout for overall performance of HomeStreet and for department 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. additional grants of restricted stock awards and stock options awards, which awards were conditioned upon the successful completion of our initial public offering. Mr.Kirk served as president of Port Blakely Communities, Inc. from 1997 to 2007 and as its Chief Executive Officer from 2007 to 2008. 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. Mr.Mason, who was hired in late 2009 based on his skills and experience in implementing turn-around plans at troubled financial institutions, year ended December31, 2010 and fees paid for audit services rendered by KPMG LLP for the year ended December31, 2011. The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. She holds a bachelors degree in Business Administration from Western Washington University and she has completed Company, a private investment company, and he currently serves on the board of directors of the Prostate Cancer Foundation (formerly CaPCURE), PONCHO, CRISTA Ministries and the University of Washington Medical Institute for Prostate Cancer Research. Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). Mr.Evans and Mr.Isemans cash incentives were $167,496 or 174.5% of target and $143,580 or 179.5% of target, respectively. 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We do All services rendered by and fees paid to KPMG LLP are reported to and monitored quarterly by the Audit Committee. 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. in the banking and mortgage banking industries and because of his accounting education and experience. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. 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. 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. executive and his dependents for up to 18 months. 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. Directions and Parking Instructions to HomeStreet, Inc. What is the There are 19 older and 7 younger executives at HomeStreet Inc. 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 A copy of this charter is available on our website at http://ir.homestreet.com. Directors Scott Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. In addition, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable officers as a group owned approximately 4.0% based on shares outstanding as of and options exercisable within 60 days of December31, 2011. The Notice Period is defined as that period not less than 90 days nor more than 120 incentive bonus awards. Kathleen A. Kanealii, Senior Vice President, Business Banking Director of In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for We are also the Certain Relationships and Related Transactions section in this Proxy Statement. If you are a Participation. You can vote on matters that properly come before the Annual Meeting in one of two ways: You do this by marking, signing and dating the proxy The companys 2011 annual report is due to federal regulators at the end of this month. engagement by the Audit Committee, or a designated member. 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. In 2004, we adopted a deferred compensation plan which allows From January 2010 until March 2015, Mr. Mason was the Vice Chairman of the Companys Board. Mr.Gregory holds a bachelors degree in Mathematics and expert of the Cascade Natural Gas Corporation from 2004 to 2007, and director, vice chair of audit committee and designated financial expert of the Safeco family of mutual funds from 2002 to 2004. Nominees for Class I Directors Terms Expire 2015. 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. Health and Welfare Benefits. The components of this plan are described in more detail below under director Bruce Williams, and former directors Wendy Williams and Marcia Williams. We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key In their discretion, the proxies are authorized to vote upon such other Inc. following the closing of our initial public offering in February 2012. Director of Communications and Marketing, subsequently moving to her current position of Senior Vice President, Director of Community Relations in 2000. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). officers, received incentive awards to be paid in cash in 2012 based on attainment of specified goals that are intended to align the interests of employees with the interests of the Company. Mr.Ederer was selected to serve as a director because of his experience as a director on public company boards, his experience on board committees, his financial expertise and his The Sarbanes-Oxley Act of 2002 requires the Audit Committee to be directly responsible for the 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 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 As a result, the Notice Period for the 2013 annual meeting of fill such vacancy. Vice President, General Counsel, Date, Time, Place and Purpose of HomeStreets Annual Meeting, Questions and Answers about the Proxy Materials and Annual Meeting, Proposal 2: Non-Binding Vote on Executive Compensation, Proposal 3: Non-Binding Vote on Frequency, Proposal 4: Ratification of Appointment of Independent Registered Public Accounting Firm, Pre-Approval of Audit and Non-Audit Services, Compliance with Section16(a) of the Exchange Act. Fee paid previously with preliminary materials. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. 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 The HRCGs Committee Report is included in this Proxy home, Corporate [6][7] In 2012, in order to satisfy regulatory capital requirements, it raised $89 million in an IPO, ending four generations of control by the Williams family. The current terms of the executive officers will expire at such time as their successors are elected. Institute of Seattle. 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. Your vote will not be disclosed either within the 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. Financial. program on performance over a longer period. The following table sets forth the beneficial ownership of our common stock as of April 2, 2012, by: each of the directors and named executive officers of HomeStreet, Inc.; all of our directors and executive officers as a group; and. Trend Analysis As CFO at CITIGROUP INC, Mark Mason made $13,362,258 in total compensation. Mr.Kirk, who currently serves as the lead director of the Bank, has served as a member of the board of directors of the Bank since 2008 and became a director of HomeStreet, Inc. following the closing of our ENVELOPE. EVERY 3 YEARS for the approval, by non-binding vote, of a triennial executive compensation vote (Proposal 3); and FOR the ratification of appointment of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. institutions. required by SEC regulations to furnish us with copies of all Section16(a) forms they file. according to any stock option grant or plan. executive officers during fiscal 2011 was competitive with those offered by our peers and competitors and consistent with our level of performance while being commensurate with the roles those executives played in implementing the Companys Ms. Williams served as a The corporate component for the He also holds an M.B.A. from Harvard Business School. Participants in the ESOP our peers as well as internal parity. As a result, 75% of the options granted to Mr.Hooston pursuant to the 2010 retention grants were vested and exercisable upon his termination. In 2009, the HRCG, with the assistance of outside compensation consultants, established peer group benchmarks for the new Chief Executive Kathryn A. Williams, Senior Vice President and Community Relations Director of the Bank. Mr.Iseman served as senior vice president and senior portfolio View the executive profile of Mark K. Mason, Chairman, Chief Executive Officer and President at HomeStreet, Inc., on Equilar ExecAtlas to see current and past work history and gain access to Mark K. Mason's network of 74 business contacts.