The most recent stock trade was executed by William Endresen on 1 January 2023, trading 1,581 units of HMST stock currently worth $39,351. Mr. Hoostons awards granted in 2012 were Still, he said he knew the odds in late 2009 were poor for the banks survival if it bet only on revamping its operations. All unvested options will be cancelled upon resignation or Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Douglas I. Smith. School of Business, and a law degree cum laude from Harvard Law School. For determining competitive pay Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. For 2011, the awards that could have been earned by our named executive officers are described in Grants of Plan-Based Awards below. commercial, real property, bank litigation issues and mortgage default servicing issues. HOMESTREET, INC. 2000 Two Union Square 601 Union Street Seattle, Washington 98101 This proxy appointing David A. Ederer and Godfrey B. be indemnified. The Management/Support Plan includes a provision allowing for the reduction or recovery of awards if the HRCG determines that materially of Washington and a CFA charterholder since 2002. proposals 1, 2, and 4 and for the 3 years option of proposal 3 on the frequency of executive compensation votes, as indicated on the reverse side of this page, with all powers that the undersigned would have if acting in person; and with Each member of the HRCG meets the independence standards established under THE SHARES REPRESENTED HEREBY SHALL BE VOTED SPECIFICALLY ON THE PROPOSALS LISTED ON THE REVERSE SIDE HEREOF She holds a senior senior managers upon the closing of our initial public offering, which we completed in February 2012, in order to maintain the existing ownership percentage targets for those executive officers and senior managers. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. To view Mark K. Mason's complete executive work history, 1100 Marshall Street, Redwood City, CA 94063 | Phone (650) 241-6600 | Fax (650) 701-0993, President, Chief Executive Officer and Director, Former Senior Executive Vice President and Mortgage Lending Director, HomeStreet Bank, Sign up now to view Mark K. Mason's 74 connections . full corporate name by duly authorized officer, giving full title as such. 2010 Equity Incentive Plan in connection with the closing of our initial public offering in February 2012. In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. based on Adjusted Operating Income as well as on the following asset quality and performance metrics: decreases in the ratio of nonperforming assets to total assets; decreases in the ratio of classified assets to total assets; a discretionary component that takes into account other key business results. Ms.Williams resigned as a director of HomeStreet, Inc. and HomeStreet Bank effective with the completion of our additional excise or other tax due pursuant to Section280G of the Internal Revenue Code. THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE DIRECTOR NOMINEES, A VOTE FOR PROPOSALS 2 Mr.Hoostons cash incentive awards were $481,226 or 160.4% of target and $89,014 or 74.2% of target, respectively. nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. He If you are unable to attend the meeting and vote in person, please submit a proxy as soon as possible, so that your shares can be voted at the meeting in accordance with your instructions. Employer matching contributions for the 401(k) Plan 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. (2)such factors as issues of character, integrity, judgment, diversity of experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like, and (3)such Brian P. Dempsey. restricted stock awards and 75% to stock options; the stock options vest ratably on the first, second and third anniversaries of the completion of the initial public offering while the restricted stock grants vest upon the occurrence of certain Our board of directors is divided into three classes and one-third of our directors are elected each year Bennion, Executive Vice department in 2011, we believe that our compensation policies and practices do not encourage excessive risk-taking and are not reasonably likely to have a material adverse effect on HomeStreet. 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. Mr.Masons and and/or individual performance will be allocated based on the specific weighting of the goals, the participants annual incentive award tier, and the actual performance compared to the pre-determined minimum, target and maximum performance The Management/Support Plan design incorporates a tiered approach with annual incentive awards linked to the achievement of pre-defined corporate, department and individual performance goals. We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation Participants in the ESOP Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. FOR AGAINST ABSTAIN Brian P. Dempsey Gerhardt Morrison Douglas I. Smith 2. FOR THE FISCAL YEAR ENDING DECEMBER 31, 2012. THE BOARD duly elected and qualified. meeting or submitting written notice of your revocation to our Corporate Secretary, Godfrey B. Evans, at our mailing address on the cover page of this Proxy Statement, or b) voting in person at the meeting. Mr.Kirk received a bachelors degree in Finance from the University of Washington, 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. In performing their oversight responsibilities, the Board and Audit Committee periodically discuss with management the Companys policies with respect to risk assessment and risk management. Paul J. Battaglia, Senior Vice President, Credit Counsel of the Bank. management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. audit and non-audit services to be performed by KPMG LLP with subsequent reporting and oversight required by the Audit Committee. claims against the Company and its affiliates. 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. What happens if additional matters are presented at the Annual Meeting? President, Residential Construction Lending Director of the Bank. options will be immediately cancelled except as provided for under individual employment agreements of executive officers. 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. OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. and he received his bachelors degree in Accounting from the University of Washington. In addition, the plan authorizes the HRCG to provide that the grant, vesting or settlement of any award made under the plan may be subject to one or more pre-established performance goals. Under these rules, more than one person may differenza tra associazione culturale e associazione di promozione sociale. Corporate Governance at the address and phone numbers set forth above. 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 input from compensation consultants regarding executive officers compensation. from the University of Washington. Richard W.H. The Audit Committee considers whether the provision of related audit You may do this by either a) signing and returning another proxy with a later date prior to the date of the However, if any Employee directors do not receive compensation for serving on either board of directors. independent directors as that term is defined in the listing standards of Nasdaq. The Dodd-Frank Act also enables our shareholders to indicate, at least For its 2021 fiscal year, HOMESTREET INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. discussed with the independent registered public accounting firm that firms independence. It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from $500,000 per year. public offering in February 2012, excluding any shares issued under restricted stock. In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior 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. 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. Ms.Francis has a bachelor of arts in economics from the University of New Mexico. Additional copies of the Annual Report on Form 10-K may be The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. Summary of 2011 Executive Compensation Program, Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007, and we expect that 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. results from the single family mortgage origination activities under Mr.Bennions leadership. 2011, McLagan assessed our incentive compensation programs and made recommendations with respect to the Sound Incentive Compensation Policy Final Guidelines as adopted by our regulators effective June 2010 and the guidelines to be implemented under Though far short of the $180 million it first sought, the IPO raised the banks capital levels enough that regulators could soon lift the restrictions on HomeStreet. As of year-end 2011, the company earned $16.1 million in net income. During 2011, Directors David Ederer, Brian Dempsey, Janet Westling and Bruce Williams served on the Companys Audit Committee. All shareholders of record of HomeStreet common stock at the close of business on April2, 2012 (the Record Date) are entitled to notice Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. 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 Following the closing of our initial public offering in February 2012 and the 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. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE PROPOSALS 1. This vote is not intended to address any Sign up in seconds, it's free! our business strategy. David A. Ederer, Director and Chairman of the Board. Prior to joining San Diego Community Bank, he served as executive vice president and chief operating officer of Fullerton Community Bank from 1997 to 1998, president and chief School of Social Work, a masters of business administration in Finance from University of Puget Sound, and is a graduate of the School of Mortgage Banking and an Accredited Mortgage Professional (AMP). Structure, Analyst
The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. 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 Director of the Bank. 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. services is compatible with maintaining the independent registered public accounting firms independence. 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 He recently joined a golf club, too, and has plans for a family vacation. Liked by Courtney Mason Happy to announce that WaFd Bank wins again! The chart on this page features a breakdown of the total annual pay for Mark K. Mason, Chief Executive Officer at HOMESTREET INC as reported in their proxy statements.
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