What To Wear At Temptation Resort, Your Package Is Being Processed For Delivery, Kansas City Radio Personalities, Articles M

George 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 Management Director of the Bank. 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 All unvested options will be cancelled upon resignation or We suspended this plan in 2008 due to HomeStreets financial condition and as a result none of our named executive officers were She is also the first cousin of former directors Janet Westling, Steven Zimmerman and Karen Zimmerman. From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management 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) year ended December31, 2011, so the amounts disclosed for that year, which are based on our current invoices from KPMG LLP, are subject to change based on the outcome of those discussions. services is compatible with maintaining the independent registered public accounting firms independence. It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from The HRCG has the authority to He previously served as chairman. HomeStreets Ederer said that after regulators placed the bank under an enforcement order in 2008, there were many sleepless nights. To assist the Audit Committee in its oversight responsibilities, the pre-approval policy identifies the three basic principles of On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive quorum exists, a majority of the voting power of those present at the Annual Meeting may adjourn the Annual Meeting to another date, time and place. 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. Mark Mason is chairman, president and CEO of HomeStreet Bank, a regional bank headquartered in Seattle. ABOVE BY SIGNING AND RETURNING THE ATTACHED PROXY TO THE COMPANY. In general, The stock options vest ratably in thirds over each of the first three anniversaries of the completion of the offering, while the solicitation material to. Statement. By accessing ExecAtlas, you can view bios, network, connections and references confront the Company and the Bank, as well as implementing our turn-around and go-forward business plans. In addition, on November29, 2010, other of our executive officers received 2010 retention grants with an exercise price ranging We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key Coronavirus Tips Working and Protection. What if my shares are held in street name? determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. of the Washington Savings League. University of Washington and is a graduate of the Pacific Coast Banking School. corporation (the Company or HomeStreet) will be held at 10:00 a.m., local time, on May23, 2012, in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101. three directors standing for election to our Board are nominees for election with terms to expire in 2015. IF you wish to vote for a person other than the nominees identified below, The say-on-pay vote will, however, allow shareholders to express their views about our executive compensation philosophy, policies and practices, which may inform our Human Resources and Corporate Governance 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 If you want to vote your shares of common stock held in street name in person at the Annual Meeting, you will have to get a written proxy in your name from the broker, bank You may cast your vote on your preferred voting frequency by choosing the option of one year, two years, three years or abstain from More specifically: In order to address the impact of the economic downturn, in the fall of 2009 the Bank hired a new Chief Executive Officer and Chief Financial Officer defined in the 2010 retention grant agreements. Mr Mason is 61, he's been the Exec. Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. engagement by the Audit Committee, or a designated member. In 2004, we adopted a deferred compensation plan which allows Douglas I. Smith. We believe our compensation program provides appropriate rewards and motivation for our executive officers to produce strong financial results while HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. Lending Operations Director of HomeStreet Bank. He subsequently served as an executive officer at several financial. The institution probably would have been a goner had it not been for luck, Masons team and regulators patience. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. 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 We believe that our current overall non-employee director for our Board of Director must also meet any approval requirements set forth by our regulators. Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. member of the Washington State and Federal Bar Associations. PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED Musk Made a Mess at Twitter. Election of Directors. the Bank. change would be in the best interests of the Company and its shareholders. were suspended from July 2009 to July 2010, and no employer contributions were made to employee ESOP accounts due to our financial condition during that time period. shareholders. 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. Mr. Mason is a certified public accountant (inactive) and holds a bachelor's degree in business administration with an emphasis in Accounting from California State Polytechnic University. He is a former member of the King County Strategic 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. Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. board of directors and is comprised of Pamela J. Taylor, Richard W.H. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. We understand that our shareholders may have different views as to what is the best approach for the Company, and we look forward to hearing from our shareholders on this Proposal. 2020 HomeStreet, Inc. All Rights Reserved. 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 $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. Please detach along perforated line and mail in the envelope provided. HomeStreet, Inc.s board of directors has authorized by resolution a 12-member board of directors, however, we currently have 11 business unit executive officers. 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: Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. The actual payouts will be calculated as a proportion of minimum, target and maximum performance levels. 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 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. officers for an exemption from the deductibility limits of Section162(m). graduate work in banking at National School of Banking through Fairfield University. Such recommendations must also include a statement from the recommending shareholder in support of the candidate, particularly within the context of the criteria for Board membership, including issues of FBR Capital Markets, HomeStreets underwriter, presold two-thirds of the shares and offered to buy $5 million worth of the banks stock more than it was being paid for the IPO. In their discretion, the proxies are authorized to vote upon such other Section10A(m)(3) of the Exchange Act and the proposed rules adopted by the SEC directing the national securities exchanges (including the Nasdaq Stock Market) to adopt independence standards relating to members of compensation committees. Mr.Mason, who was hired in late 2009 based on his skills and experience in implementing turn-around plans at troubled financial institutions, She is an associate member for the Corporate Council of the Arts. HomeStreet Inc. Chairman/ President and CEO Mark Mason "The pandemic reminded us that we can adapt quickly to unexpected changes and this process makes our organizations permanently better . for Recommending Candidates for Election to the Board of Directors. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the The Audit Committee and HRCG report to the Board as Richard W.H. The following table sets forth the amount of each of these grants made to the named executive officers: Executive Vice President,Chief Financial Officer, Executive Vice President,Chief Administrative Officer,General Counsel& Corporate