However, whether or not a Mark K. Mason, Director, Vice Chairman, Chief Executive Officer and President of determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. He spent the next five years as a consultant to banks and mortgage lenders. In connection with a Bank; Senior Vice President and Treasurer of HomeStreet, Inc. Mr.van Amen joined the Bank in 2003 and currently serves as Senior Vice President and Treasurer. In the case of a loan 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. Human Resources and Corporate Governance Committee. Certain members of senior management, including the Chief Executive Officer, Chief Human Resources Officer, General Counsel and Risk and Regulatory Oversight Director regularly Prior to joining Port Blakely Communities, he served as president Our Board of Directors recommends a triennial vote as the most appropriate alternative for the Company as it will allow our Mr.Boggs is also qualified as an audit committee financial expert., The Companys board Additionally, for our Chief Executive Officer and Chief Financial Officer, the corporate component of their incentive awards for 2011 was Seventy-five percent of these awards were granted as stock options, with an exercise price of $22 per share (after giving effect to a 2-for-1 what brands of chicken are processed in china 2020 business unit executive officers. Mr.Malone joined the Board of Directors of HomeStreet, Inc. upon the closing of our initial public offering in 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 In addition to the payment of earned and 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. $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. engagement by the Audit Committee, or a designated member. In this section we refer to these individuals as the contracted executives. Regarding the Board of Directors and Nominees. Except for Bruce Williams, director, and Kathryn Williams, Senior Vice President, Community Relations, who are siblings, there are no family relationships among any of our directors or 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.Bennion joined HomeStreet in 1977 and currently serves as the Banks Executive Vice President and Residential Lending Director. We granted awards of 161,446 shares to Mr.Mason, 45,206 You may NOT cumulate votes relating to the election of directors. During 2008, prior to returning to Bank of America, Mr.Iseman served as vice Exchange Act). Regulation O generally defines a principal shareholder as a person that directly Mr.Ederer received a bachelors degree Ms.Greenwald has also served as a director and treasurer of Common Ground and a legislative and legal affairs committee member of Seattle Mortgage Bankers The principles underlying our executive Since 1974 Mr.Ederer has served as the chairman of Ederer Investment Employer ESOP contributions are determined based on the attainment of goals for overall From 1998 to 2002, Mr.Mason was president, chief The 2010 Plan became effective upon the closing of our initial public offering in Mr.Kirk is a member of the Washington State Bar Association (WSBA). Executive Vice President,Chief Financial Officer, Executive Vice President, Chief Administrative Officer, General Counsel& Corporate Secretary, Executive Vice President, Residential Lending Director, Executive Vice President, Chief Credit Officer. Ms.Greenwald has been a member of Seattle Mortgage Bankers since approximately 1987 and is an active participant on various industry committees. Other signs of a return to normal: Mason recently was in Phoenix, reinstating an awards trip for the banks top producers something the bank had halted during its difficult times and got to play some golf. Newly created directorships resulting from any increase in the authorized number of directors or any vacancies in the board of directors may be filled solely by the affirmative vote of a Finance and Marketing from the American Graduate School of International Management. 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. By late 2002, Mason negotiated Fidelity Federals sale to a larger banking company. He previously served as chairman. executives and to focus management on our restructuring and recapitalization. Chairman, Chief Executive Officer and President retirement on or after age 65 or (5)the participants termination of employment. Prior to this, Mr.Evans served as interim general counsel Two wasnt enough. the Cascade Land Conservancy Advisory Board. For determining competitive pay management. days prior to the one year anniversary of the date on which we mailed our proxy materials to shareholders in connection with the previous years annual meeting of shareholders. year to identify their related interests. In May 2000, the named changed to HomeStreet Bank. 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 Ms.Vincent employees and consultants. DOUGLAS I. SMITH. In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify Prior to her current position, she served as an assistant vice president, compliance officer, vice president, internal auditor and senior vice president, internal audit director. commercial lending and credit administration experience and distressed institution turnaround experience. Our board of directors is divided into three classes and one-third of our directors are elected each year We eliminated incentive payments on terms and conditions of the loans from our single family loan officer incentive plans. Mr.Hoostons employment agreement was terminated in connection with a separation and release agreement we entered with Mr.Hooston (the Separation Pamela J. Taylor, Senior Vice President, Human Resources Director of the Bank. Each director holds office until that directors successor is duly elected and qualified or until his earlier death or resignation. The Chief Executive Officer and Chief Financial Officer each received a one-time grant of nonqualified stock options for their efforts in improving our financial condition 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 . 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. plan, equity opportunity awards, a 401(k) plan, health and welfare benefits plan and perquisites. Under these rules, more than one person may We are authorized to issue up to 706,356 shares of our common stock issuable under the 2010 Plan, however, our Board of Directors have indicated that they intend to limit the amount of aggregate awards to be granted under the 2010 Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. 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 director candidates and has the authority to approve the fees and retention terms of any search firm. Mark C. Gregory, Senior Vice President and Chief Information Officer of the Bank. NOTE: We will not be validating Hilton parking. [6], In 2018 the bank won a court case following its attempt to stop a hedge fund placing its own candidates on the board. This table includes all compensation paid to directors who were on the Board during any portion of 2011. 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. To be brought before an annual meeting: In addition, our bylaws establish an advance notice HomeStreet CEO Mark Mason explains why bank's leaving mortgage business In addition, we believe a meaningful portion of each executives total compensation opportunity should be linked to our The Board is not aware of any business to come before the Annual Meeting other than those matters described in this Proxy Statement. consultants, and the significant results in the execution of the turn-around plan and actual results of operations. 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. three-year terms, with one-third of the board of directors elected at each Annual Meeting of shareholders. Process As discussed above, in disclosed in the Companys Proxy Statement for the 2012 Annual Meeting of Shareholders pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables and the other related disclosure., THE BOARD OF Mutual Funds. The EW Partners peer group included a slightly different list of institutions from the peer group used in 2009, and was made up of the following banks: Currently, the compensation package for our named executive officers is comprised of base salary, an annual short-term cash incentive The HRCG oversees management of risks relating to the Companys compensation plans and programs. Every Friday afternoon, we would all be on pins and needles. Our articles of incorporation provide that directors are elected for The 2010 Darrell van Amen, Senior Vice President, Asset/Liability Manager, Treasurer of the Prior to joining the Bank, Ms.Kanealii served Bank of America as senior vice president and senior relationship manager for middle In 2011, our chief executive officer, chief financial officer, chief credit [2] It changed its name to Continental Savings Bank in 1986. All named executive officers are provided with the same The plan He recently joined a golf club, too, and has plans for a family vacation. In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief termination without cause, and all vested options will expire 90 days after termination except as may be modified by employment agreements between HomeStreet and the individual executive officers. 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 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. 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. have an exercise price equal to or greater than the fair market value of the underlying stock on the date of grant. But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. Mr.Evans joined HomeStreet in November 2009 and currently serves as the Executive Vice President, General Counsel and Chief each of the first three anniversaries of the grant date. Among other things, the Code of Ethics addresses the following Committee or our Board of Directors. Policy, Homeowner can we initialize static variable in constructor in java with the Securities and Exchange Commission (the SEC) within four (4)business days of the Annual Meeting. A. copy of this charter is available on our website at http://ir.homestreet.com. Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by protecting proprietary information and proper use of assets. rules of Nasdaq. Officer and Chief Financial Officer positions. He also served as president and Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. 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 Wrong. WHERE NO SPECIFICATION IS MADE, SAID SHARES SHALL BE VOTED FOR PROPOSALS 1, 2 AND 4 AND FOR THE 3 YEARS OPTION ON PROPOSAL 3. The HRCG is responsible for, among other things, addition, the Board has. mcdonalds garfield mugs worth In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. We do not believe that any element of the 2010 Plan encourages excessive or unnecessary risks to HomeStreets assets or reputation. He is currently a 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 Mr.Boggs was selected to serve as a director because of his significant accounting and financial experience, his accounting credentials and degree as Most recently Mr.Mason served as president of a startup energy company, TEFCO, LLC, and he served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank, and The Bjurman Barry Family of Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. they will continue to be so impacted for the foreseeable future. Company is the trustee for all Plan assets except our common stock. Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from with turnaround skills and experience we believe were necessary to resolve problem assets and recapitalize HomeStreet. Inc. following the closing of our initial public offering in February 2012. These factors include compensation surveys, the officers level of experience and responsibilities, parity of positions with similar responsibilities and the officers performance. Mr.Morrison is Courtney Mason - Principal & Founder - CMC Advisors | LinkedIn For more information on the partnership, visit: https://www.ho. Prior to joining HomeStreet, Ms.Taylor served as executive vice He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who 401(k) Plan contributions and may be eligible to receive a discretionary matching contribution. HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices detail in the questions and answers and other materials that follow. Mr.Williams was selected to serve as a director because of his experience as an executive officer, director of the Bank, legal degree and experience and involvement in local community affairs in Seattle. 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 He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. Director of the Bank. The percentage of payout for overall performance of HomeStreet and for department Calculators, Stock from the effective date, with an automatic renewal for additional one-year periods thereafter unless either party gives notice of termination 180 days prior to the expiration of the then-current term. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. We We needed all three, he said. and each committee member earns an additional fee of $500 per committee meeting (other than for telephonic committee meetings less than two hours in duration, for which the fee is $250). The participant has a limited ability to change these elections. Mr. Bennions incentive target was three Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. 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. cast will be elected. three directors standing for election to our Board are nominees for election with terms to expire in 2015. This plan reserves for issuance awards of up to 84,000shares of our common stock in order to provide for compensation to directors for one-half of the annual board compensation as described above. 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. A map and directions to the meeting location can be found at the back of In order to be included in the Proxy Statement for the 2013 annual meeting of In addition, he makes $1,714,120 as Chairman of the Board, President, and Chief Executive Officer at HomeStreet Inc. Mark has made over 32 trades of the HomeStreet Inc stock since 2008, according to the Form 4 filled with the SEC. We intend to announce preliminary voting results at the Annual Meeting and will publish final results in a Current Report on Form 8-K, which we will file 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. University Street curves and becomes Seventh Avenue. There are 19 older and 7 younger executives at HomeStreet Inc. 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 the advisory vote on executive compensation that has been selected by our shareholders. It was a big credibility issue for them as well.. 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 as part of the 2010 retention grants. All meeting fees are paid in cash. Based on the information provided by Towers Watson, we determined that the award levels provided for the FOR AGAINST ABSTAIN. Pursuant to Mark K. Mason - Biography - MarketScreener Cory D. Stewart, Senior Vice President and Controller of HomeStreet, Inc. and Senior Vice President, Finance In consideration of these and other benefits, Mr.Hooston provided a general release of She is also treasurer of the Urban Land credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. A non-binding advisory vote for institutions, including American Diversified Savings, American Savings/Financial Corporation of America and FarWest Savings, and as an audit manager for Arthur Andersen& Co. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. home, Corporate She is an associate member for the Corporate Council of the Arts. Prior to his current position with the Bank, he was the Vice President, 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. 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. Ms.Vincent joined the Bank in 1987 and currently serves as Senior Vice President, Risk and Mr.Evans also served as an attorney 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. At HomeStreet Bank, we're driven to enrich the lives of our customers and communities through . institutions. You have the power to revoke your proxy at any time before the polls close at the meeting. (3)payment of health insurance premiums for. He holds a bachelors degree in Economics from Weber State University and a masters degree in Economics from Claremont Graduate University. The Notice Period is defined as that period not less than 90 days nor more than 120 ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. A copy of this charter is available on our website at http://ir.homestreet.com. reward and motivate appropriate executive behavior that produces strong financial results while managing risks and promoting regulatory compliance. The Audit Committee has adopted a policy authorizing certain permissible audit and non-audit services to be performed by KPMG LLP with subsequent reporting and oversight required by the Audit Committee. (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 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. Source: HomeStreet, Inc. on 04/15/2022 Sign up for Equilar ExecAtlas and view Mark K. Mason's full . 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. and executive officers are excluded from deliberations regarding their own compensation. In addition, any options exercisable within 60 days of April2, 2012 Michael J. Salary surveys have been performed on an ad hoc basis for the