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. 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 solicitation material to. comply with these guidelines such as: We have designed incentives tied to short-term revenue and profits with elements that include qualitative components such as credit quality, and we HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. On March14, 2012, we announced a mutually agreed upon separation with our Chief confront the Company and the Bank, as well as implementing our turn-around and go-forward business plans. Wallmine is a radically better financial terminal. Who is paying NOTE: We will not be validating Hilton parking. executive and his dependents for up to 18 months. Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. 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. company financial performance set annually by our board of directors. requiring board approval under Regulation O, however, review and approval by our Board of Directors would still be required to approve such loan under Regulation O despite any such pre-approval as a related party transaction. Additional copies of the Annual Report on Form 10-K may be to provide updated peer group benchmarks for our Chief Executive Officer in order to determine if the compensation package provided for that executive officer would require any adjustments to be competitive in 2012, especially in light of the However, because this vote is advisory and not binding on the Company, the Human Resources and Corporate Governance Committee or our Board of Directors in any Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. Mark Mason is on Facebook. [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. But when the board met Mason, Ederer said, they felt confident. Our board of directors is divided into three classes and one-third of our directors are elected each year ABOVE BY SIGNING AND RETURNING THE ATTACHED PROXY TO THE COMPANY. member of the Washington State and Federal Bar Associations. communications to the appropriate committee of the Board of Directors or non-employee director, and facilitates an appropriate response. on satisfaction of performance goals. Subsequently, However, it has IF you wish to vote for a person other than the nominees identified below, Prices, Financial
For determining competitive pay 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. 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 The Audit Committee Report is included in this Proxy Statement. 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. regulators on February25, 2009. In the course of determining the independence of each non-employee director, the Board of Directors considered the annual amount of HomeStreets sales The Bank surveys Company and Bank directors and senior and executive officers each 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. The Board of Directors has determined that, with the exception of Mark Mason and Bruce Williams, all of its current members are proven expertise and managerial talent. Agreement) in connection with that departure. While we have not established specific minimum qualifications for director candidates, we believe that candidates and nominees must reflect a Board of the Washington Savings League. Prior to his current position and since joining the Company in 2009, Source: HomeStreet, Inc. on 04/15/2022 Sign up for Equilar ExecAtlas and view Mark K. Mason's full . 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. No equity grants were made in 2011 to any of our named executive officers. We awarded a special, one-time performance and retention incentive bonus to certain key executives in the second half of 2010 to incentivize and retain The Annual All services rendered by and fees paid to KPMG LLP are reported to and monitored quarterly by the Audit Committee. 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 However, our Board of Directors approved grants of stock options and restricted stock awards to our executive officers and senior managers in 2011 that were granted effective upon the closing of our initial public offering in February 2012. [11], "Continental, Inc." redirects here. The following table sets forth certain information with respect to the board of directors of HomeStreet, Inc., including their ages as of 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 As part of those grants, our Executive Vice President, Chief Credit Officer received a grant of 4,000 options related to his prior position as Senior Vice President, Credit Administration Manager at an exercise price 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. 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. The #MissHomeStreet team, of course. 61 Malone. The participant has a limited ability to change these elections. Amounts Let us earn your business. 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. Named Executive Officers. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. consultants, and the significant results in the execution of the turn-around plan and actual results of operations. This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net to have a material adverse effect on HomeStreet. Employees are eligible to participate in the 401(k) Plan if they meet the applicable service requirements and are at least 18 years old. As a result, 75% of the options granted to Mr.Hooston pursuant to the 2010 retention grants were vested and exercisable upon his termination. Corporate Governance at the address and phone numbers set forth above. Executive He graduated cum laude with a bachelors degree in accounting and an MBA from the University of Utah. any of our directors, executive officers or beneficial holders of more than 5% of our capital stock, or any immediate family member of or person This report is not for commercial use. There are no executives at HomeStreet Inc getting paid more. All unvested options will be cancelled upon resignation or Boggs, Brian Dempsey, Victor Indiek, George Judd Kirk and Douglas Smith were elected to serve on the Audit Committee effective on the closing of our initial public offering on February15, 2012. purposes of hiring employees but as no base salary increases have been granted to any named executive officers since 2008, no base salary surveys were conducted during 2009, 2010 or 2011 other than the Chief Executive Officers base salary, Ms.Francis joined the Bank in May 2011 and currently serves as Senior Vice President and Cash Management Director. [6], In 2018 the bank won a court case following its attempt to stop a hedge fund placing its own candidates on the board. Union& Two Union Square share underground parking. How does the Board of Directors recommend I vote? and reducing overall credit risk and nonperforming assets. This documentary-style series follows investigative journalists as they uncover the truth. By accessing ExecAtlas, you can view bios, network, connections and references The Audit Committee considers whether the provision of related audit written comments on your proxy card, such comments may be forwarded to the Companys management, however, there can be no guarantee that such comments will be forwarded or reviewed. Lending Operations Director of HomeStreet Bank. We believe our compensation program provides appropriate rewards and motivation for our executive officers to produce strong financial results while HomeStreet, Inc.s board of directors has authorized by resolution a 12-member board of directors, however, we currently have 11 Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. Assistance. Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the 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 Participation levels in all incentive board of directors and is comprised of Pamela J. Taylor, Richard W.H. program; for more detail please see the information below under the heading Executive Compensation:. compensation, unused vacation time and unreimbursed expenses, in the event of a termination without cause or resignation for good reason not involving a change in control, in exchange for executing a release, a contracted executive will receive: Please note that requests for investor relations materials should be sent to ir@homestreet.com. including the named executive officers. benchmark group as independently assessed by EW Partners. 2012. When the bank announced plans last May to sell stock to the public for the first time, the economy appeared to be on the rebound and pundits dismissed talk of a double-dip recession. 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 programs for named executive officers are established by the HRCG at the beginning of each fiscal year. Powered By Q4 Inc. forward stock split that was effective March6, 2012); the remaining 25.0% were granted as restricted stock awards. Corporate performance for these executives was based on achievement of HomeStreets difficult quest for capital was over. Join Facebook to connect with Mark Mason and others you may know. voting when you vote in response to the resolution set forth below: RESOLVED, that the option of once every one year, mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. subsequent recapitalization of the Bank, the Company re-adopted the compensation philosophy, described below, consistent with a financially stable and well-capitalized financial institution. It is my distinct pleasure to invite you to attend the 2012 annual meeting of shareholders of HomeStreet, Inc. $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. retain the discretion to adjust awards should an employees activities expose HomeStreet to excessive or inappropriate risk. The HRCG reviewed the McLagan report and took it into consideration in determining its 2011 incentive plan arrangements for the entire organization. It changed its name to Continental Savings Bank in 1986. The Board of incentive bonus awards. initial public offering. The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s at 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 meeting fees are paid in cash. 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 place until the lifting of a Cease and Desist Order that had been imposed on the Bank by the Federal Deposit Insurance Corporation and Washington Department of Financial Institutions, which we refer to as the Bank Order. The Bank Order Mr.Kirk served as president of Port Blakely Communities, Inc. from 1997 to 2007 and as its Chief Executive Officer from 2007 to 2008. In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify previously. Sign up Already have an account? accounts during 2011. American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that ENVELOPE. As of the record date, 7,162,606.8 shares of our common stock were issued, outstanding and entitled to vote at the Annual Meeting. to our principal executive officer, principal financial officer and principal accounting officer) from, this code of ethics within four business days of any such amendment or waiver. 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. participants in this plan for the year ended December31, 2011. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. The HRCG regularly reviews The following table presents fees billed for professional audit services and other services rendered to HomeStreet by KPMG LLP for the Income at a target of $43.3 million (2)reducing non-performing assets to total assets to 5.8% (3)reducing classified assets to total assets to below 9.0% (4)achieving a net interest margin of at least 2.46% and (5)increasing Election of Directors. implemented compensation practices consistent with our complementary goals of preserving the Banks safety and soundness, assuring the survival and success of HomeStreet, fairly compensating employees, and attracting and retaining management HomeStreet is a good example where it makes a lot more sense to bring someone like Mark in to revive the place rather than watch the thing deteriorate until it has to be sold off, said Rick Riccobono, director of banks for the state Department of Financial Institutions. Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. Structure, Analyst
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. A non-binding advisory vote for your shares will be voted as you instruct. [4] Its current headquarters are in Seattle, Washington. The plan Previously, Mark was a Board Member at Washing Read More Contact Mark Mason's Phone Number and Email Last Update 12/10/2022 12:56 AM Email m***@homestreet.com Engage via Email Contact Number (206) ***-**** Engage via Phone Mobile Number 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. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. for Gibson, Dunn& Crutcher LLP from 1982 to 1987. 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. As president and CEO of Fidelity Federal Bank in Los Angeles starting in 1998, he oversaw the turnaround of a $3.7 billion bank. In May 2011, to provide additional compensation incentives and reward certain key executives who have played an important role in recapitalizing the The SEC has defined beneficial ownership of a security to mean, generally, the possession, including shared possession, directly or indirectly, of voting power or investment power. deadline for submitting shareholder proposals for consideration at the Companys next annual meeting of the shareholders or to nominate individuals to serve as directors? You can see the complete history of Mr. Mason stock trades at the bottom of the page. ESOP stock accounts are invested in director Bruce Williams, and former directors Wendy Williams and Marcia Williams. 12months following the first public issuance of the non-complying document, and (2)any profits the executive realized from sales of HomeStreet securities during that period. Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. Mr.Boggs joined the Bank in 2006 as a member of the board of directors and became a director of HomeStreet, You may cast your vote on your preferred voting frequency by choosing the option of one year, two years, three years or abstain from 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. Notification, Privacy
president and chief executive officer, chief credit officer and director of San Diego Community Bank from 2001 to 2006. In addition to the prohibitions against solicitation of customers and employees bank counsel has focused on. 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. audited the Companys financial statements since fiscal 2003. Mr.Hoostons incentive target was divided into two components: 50% corporate performance, as described above and 50% individual performance. The unique circumstances presented by the Banks financial condition and the market downturn had a direct HomeStreet Bank CEO Mark Mason is leading the bank's retreat from the mortgage banking business. darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and 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. Additionally, for our Chief Executive Officer and Chief Financial Officer, the corporate component of their incentive awards for 2011 was Mr.Iseman served as senior vice president and senior portfolio In 2011, our chief executive officer, chief financial officer, chief credit Administrative Officer with the goal of providing stability to the Company and retaining the leadership, talent, skills, expertise and experience that they provide to us as they implement our turnaround plan. This Proxy Statement, HomeStreets 2011 Annual Report on Form 10-K and the Companys other reports filed nonperforming assets, OREO valuation adjustments and accruals for incentive payments for all plan participants. 2010 Chief Executive Officer and Chief Financial Officer. In 1999, we adopted a plan to permit directors to defer all or a portion of their fees received for services as a director that would business, managerial and leadership experience to our board of directors.