He became Chairman of the Board of the Company in March 2015 after serving as Vice Chairman of the Board since January 2010. 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 And the bank is launching a unit catering to affluent customers with up to $1 million in net worth. 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. 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). 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, In early February, an opening appeared as market volatility was low. will be included in the beneficial ownership of the holder of such option, and the percentage ownership for that holder will be calculated by adding the aggregate number of options exercisable within 60days of April2, 2012 to both the 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 Mr.Boggs started his career as a certified public accountant with Deloitte, Haskins& Sells from 1977 to 1985, He spent the next five years as a consultant to banks and mortgage lenders. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. The unique circumstances of the Bank required special compensation arrangements to attract individuals with these specialized 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 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 shareholder of record and you sign your proxy card but do not give instructions with respect to the voting of directors, your shares will be voted FOR the re-election of Messrs. Dempsey, Morrison and Smith. principles: maintaining accurate and complete records; maintaining integrity of consultants, agents and representatives; and. The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. Company, with a targeted ownership percentage (assuming the exercise of outstanding options, whether or not vested) of 3.7% for Mr.Mason and 6.5% for the executive officers as a whole. Mr.Hoostons incentive target was divided into two components: 50% corporate performance, as described above and 50% individual performance. The following table shows the compensation paid to our non-employee directors for 2011. If signer is a partnership, please sign in partnership name by authorized person. Idaho or Hawaii. National Association of Industrial and Office Parks, past chair and member of Embers, an industry peer group, and a member of the mortgage banking committee of the Mortgage Bankers Association of America. Prior to his current position with the business, managerial and leadership experience to our board of directors. Company is the trustee for all Plan assets except our common stock. 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. 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. KPMG LLP has your shares will be voted as you instruct. Mr.Schlenker has a bachelor of science in business administration finance from the University The HRCG typically considers several factors when setting the base Meeting, Turn left on Seventh Avenue (first light at the end of the Union Street exit ramp). 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 It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from He also served as president and UN Finalizes Global Deal on Marine Biodiversity Jurisdiction, Chinas Central Government to Borrow More: 2023 Budget Details, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Federal Grants Aim to Reconnect Communities Divided by Highways, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, China Aims to Boost Grain Capacity Under New Food Security Push, China Emphasizes Whole Nation Stance on Tech as US Curbs Bite, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Japan Planning Steps to End South Korea Trade Rift, Yomiuri Says, Trump Vows to Finish Mission, Cements Dominance Over CPAC, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, Chinas 5% GDP Target SignalsCrackdowns Are Not Over. He also holds an M.B.A. from Harvard Business School. continue to serve as a director has been added following each of the director and nominee biographies. Without a quorum, no business may be transacted at the Annual Meeting. 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 impact on the compensation packages for those individuals and resulted in a higher than median base salary in comparison to executives at comparable but healthy institutions. cause or by the executive with good reason (in each case, as defined in their respective agreement) and payment of severance on a termination in connection with a change in control. The following table sets forth certain information with respect to the board of directors of HomeStreet, Inc., including their ages as of That was the point where we felt we had someone who was going to guide us through the malaise, Ederer said. February 2012. and Employee Stock Ownership Plan& Trust. For the other proposals In mid-2009, HomeStreet Bank appeared headed for oblivion. Our board of directors has established a code of ethics as defined under the Exchange Act that applies to all HomeStreet directors, officers and employees, including our principal executive officer, Mr.Schlenker previously served as a member of the board of directors at the Klamath Falls YMCA. Notification, Privacy 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. Committee or our Board of Directors. Mr.Schlenker was previously president of Sterling Savings Banks investment subsidiary from January 2004 consultant which included a review of the same elements of compensation. A copy of this charter is available on our website at http://ir.homestreet.com. Mark C. Gregory, Senior Vice President and Chief Information Officer of the Bank. Mr.Masons and Prior to this, Mr.Evans served as interim general counsel For 2010 and 2011, we also provided reimbursement for temporary housing, relocation and personal travel for our Chief Executive Officer, Chief Financial Officer and Chief Administrative Officer/General Counsel who were of California, Berkeley and a law degree from Loyola Law School in Los Angeles. The turnaround, said Mason, was so all consuming. A. copy of this charter is available on our website at http://ir.homestreet.com. 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 In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above, Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act) our the following is a description of each transaction since January1, 2008, and each proposed transaction in which: the amount involved exceeds or will exceed $120,000; and. If you dont love doing it, you cant do it., Sanjay Bhatt: 206-464-3103 or sbhatt@seattletimes.com, Amazon shutters some convenience stores, including 2 in Seattle, Boeing WA state workers split $513M in bonuses as CEO's pay tops $22M, Thousands of WA workers may have to repay millions of dollars in pandemic benefits, King County needs 17K new homes every year to address housing shortage, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs. all proxy cards to ensure that all your shares are voted. 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. Employer ESOP contributions are determined based on the attainment of goals for overall 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: All services rendered by and fees paid to KPMG LLP are reported to and monitored quarterly by the Audit Committee. These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the : Investor Relations, 2000 officer and chief administrative officer and general counsel entered into employment agreements with the Company, each of which requires the payment of severance and acceleration of certain stock options in the event of a termination by us without company financial performance set annually by our board of directors. the enclosed proxy card as soon as possible. Filings, Insider . to April 2008. Shareholders may request a free copy of the Principles of Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. 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. 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. unvested at the time of his separation and therefore were forfeit on March 31, 2012. Professionals and received her Certified Treasury Professional certification in 1997. Mr.Bennion holds a bachelors degree in History and China Regional Studies from the University of Washington and a masters of business administration from the University of Washington and is a graduate of the School of Mortgage Banking. Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. Materials, Financial AND 4 AND A VOTE 3 YEARS ON PROPOSAL 3. 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 Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. But Mason plans to stay until he retires, he said. Coronavirus Tips Working and Protection. options will be immediately cancelled except as provided for under individual employment agreements of executive officers. 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. for all employees, including non-executive officers. We eliminated incentive payments on terms and conditions of the loans from our single family loan officer incentive plans. A shareholder of record is a person or entity whose name appears on or in our records as an owner of one or more shares of our common stock as of the close of business on the Record Date. Let us earn your business. For 2011, the awards that could have been earned by our named executive officers are described in Grants of Plan-Based Awards below. The numbers represented in the table above reflect a 2-for-1 forward split of our common stock effective on March6, 2012. 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. Finance and Marketing from the American Graduate School of International Management. 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. In establishing incentive plan participation levels, the HRCG considers market data relating to compensation practice of Please submit your proxy by mail in accordance with under the 2010 retention grants. He sold the credit-card operations that had pushed the bank to the brink. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. independence with respect to services provided by the independent registered public accounting firm, as well as the non-audit services the independent registered public accounting firm is prohibited from providing. In 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 Each member of the HRCG meets the independence standards established under subsequent recapitalization of the Bank, the Company re-adopted the compensation philosophy, described below, consistent with a financially stable and well-capitalized financial institution. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Structure, Analyst Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. candidates name, home and business contact information, detailed biographical data and qualifications, information regarding any relationships between the candidate and HomeStreet within the last three years and evidence of the nominating Place and Purpose of HomeStreets Annual Meeting. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. A copy of the full text of the bylaw provisions discussed above may be obtained by writing to our Corporate Secretary at our principal executive offices or by accessing our filings on the SECs He received a bachelors degree in Business Administration from California State University, Officer and Chief Financial Officer positions. served as a trustee and chair of the audit committee and budget and investments committee of the Financial Executives Research Foundation from 2002 to 2008, as director, chair of the pension committee and audit committee and designated financial You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). 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. 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. community bank located in Bellevue, Washington. they will continue to be so impacted for the foreseeable future. credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. Participation. because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. our business strategy. None of the members of the HRCG served as an officer or employee of HomeStreet during fiscal year 2011 [11], "Continental, Inc." redirects here. Mr.Bennion joined HomeStreet in 1977 and currently serves as the Banks Executive Vice President and Residential Lending Director. The Audit Committee considers whether the provision of related audit She is an associate member for the Corporate Council of the Arts. For its 2021 fiscal year, HOMESTREET INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. In 2011, our named She is also the first cousin of former directors Janet Westling, Steven Zimmerman and Karen Zimmerman. Unless otherwise set forth in the following table, the address of the listed shareholders is c/o HomeStreet, Inc., 601 Union Street Suite 2000, Seattle, And plenty did: Even when the privately owned bank was on the mend, its effort to bolster capital through an initial public offering of stock were twice torpedoed by marketwide uncertainty. Mr.Ederer joined the Bank in 2004 as a Please note that requests for investor relations materials should be sent to ir@homestreet.com. logo are registered trademarks of HomeStreet, Inc. equal tables and the other related disclosure., THE BOARD OF officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. HomeStreet Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. For more information on the partnership, visit: https://www.ho. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and (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 the Bank. 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. skills. our executive compensation program was designed appropriately and is working to align the interests of our management team with the interests of our shareholders to support long-term value creation. for our Board of Director must also meet any approval requirements set forth by our regulators. 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, Mr.Dempsey This documentary-style series follows investigative journalists as they uncover the truth. DOUGLAS I. SMITH. that is comprised of directors who: (1)are predominantly independent, (2)are of high integrity, (3)have broad, business-related knowledge and experience at the policy-making level in business or technology, including their Mr.Ederer received a bachelors degree Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. The annual incentive awards granted under this plan provide for payments based upon attainment of specified goals that are intended to align the interests of employees with the interests of HomeStreet. Mr.Dempsey was selected to serve as a director because completed initial public offering, in addition to the application of Regulation O to certain related-party transactions, we have followed formal conflict of interest policies requiring the review and pre-approval of transactions with a related party Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. Mason said he had to persuade the board to try a third time so soon again. The Notice Period is defined as that period not less than 90 days nor more than 120 This additional discretionary award was for the significant contribution to the companys 2011 operating THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE DIRECTOR NOMINEES, A VOTE FOR PROPOSALS 2 After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. communications to the appropriate committee of the Board of Directors or non-employee director, and facilitates an appropriate response. ENVELOPE. Although HomeStreet does not have a formal policy regarding attendance by members of the Board of Directors at our annual meeting of grant to each of the contracted executives additional equity awards representing a number of shares equal to the product obtained by multiplying the percentage of our pre-offering common stock reflected by the contracted executives 2010 importance of Mr.Mason to our recapitalization and turnaround plans. has served as Senior Vice President, Retail Banking Director and as Vice President, Retail Bank Operations Manager prior to 2001. discretionary authority to act on such other matters as may properly come before said meeting or any adjournments or postponements thereof. recruited from out of state. Executive Compensation.. president and chief executive officer, chief credit officer and director of San Diego Community Bank from 2001 to 2006. Prior to joining HomeStreet, Ms.Taylor served as executive vice Mr.Morrison is At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board Patricia A. Leach, Executive Vice President of Home Street, Inc.; Executive Vice President and Income Property Lending [8][9], It was announced in November 2018 that HomeStreet Bank would acquire the San Marcos, California retail branch and business lending team of Silvergate Bank. Additionally, we hope that you can attend the meeting in person. He is currently a Ms.Williams is the sister of The Annual 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 It was incredibly disappointing, given the amount of effort and cost to get to that point, Mason said. Because the Bank Order was terminated in March 2012 and replaced with an informal memorandum of understanding, these options are now vested as to 75% of the stock