take you up to the Hilton Lobby. We have created strong controls over the process for designing, implementing and monitoring incentive pay, which are incorporated into the overall Douglas I. Smith. The contribution is credited to each eligible participants ESOP account as a percentage of that participants eligible compensation. Mark K. Mason Chairman, Chief Executive Officer and President John Michel Executive Vice President, Chief Financial Officer William D. Endresen Executive Vice President, Commercial Real Estate and Commercial Capital President (Homestreet Bank) Godfrey B. Evans In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. Each of the directors attended or participated in 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 Executive Deferred Compensation. To ratify the appointment of KPMG as HomeStreet, Inc.s independent registered public accounting firm for the fiscal year ending December31, 2012. The More Than 100 Years of Helping People and Their Businesses | HomeStreet . unvested at the time of his separation and therefore were forfeit on March 31, 2012. 2012. of Directors (the Board) to vote on two non-binding proposals relating to executive compensation, and to ratify the selection of the Companys independent registered public accounting firm of for the year ending December31, compensation arrangements. 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. The level of awards was based on an analysis conducted by Towers Watson, an and subsequently rejoined the board of directors of the Company in October 2008. each of the first three anniversaries of the grant date. All proxy statements are public filings made available to the general public by the SEC. The HRCG will apply these same principles when evaluating Board candidates who may be elected initially by the full Board to fill vacancies or add It took a substantial amount of work on my part and on the part of underwriters to convince the board that this was right time.. compensation committee, be sufficient to promote the safety and soundness of the Company and the Bank and, ultimately, to return HomeStreet to profitability, address the regulatory and operational burdens that we faced during that time, and execute participate in the HRCG process for compensating named executive officers. Thomas E. King. We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. She returned to the Bank in 1988 as Senior Vice President and Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. shareholders are entitled to vote, on an advisory or non-binding basis, on the compensation of our named executive officers as disclosed in accordance with the SECs rules in the Executive Compensation section of this Proxy of Skinner Development Company and until 1986, chaired the Real Estate Department of Davis Wright TremaineLLP in Seattle. 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 Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. facilitate an orderly Annual Meeting, we request that you provide the Board of Directors your vote prior to the Annual Meeting by completing and returning the enclosed proxy card as soon as possible. Ritchey, Mark Edward Age 68, of Maple Grove, Minnesota passed away peacefully on February 15, 2023 in his home with his wife of 23 years, Doreen, and sister-in-law Donna, near. Bank upon the closing of our initial public offering in February 2012. Our Board of Directors approved these grants to be made at the closing of our initial public offering in February 2011 even though the post-offering agreements were not yet effective. These grants were allocated 25% to constitute an excess parachute payment within the meaning of Section280G of the Internal Revenue Code, the Company will pay that individual an additional amount so that his net payment will not be diminished in any respect by the This will not prevent you from voting in person, but will ensure that your vote is Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. officers, as disclosed 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.. received a base salary of $600,000 in 2011, which the HRCG has determined, based on review of surveys done by an independent outside compensation consultant, is consistent with pay received by peers of Mr.Mason at similarly situated financial 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. In addition to the payment of accrued and unpaid salary and incentive 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 University's Albers School of Business and Economics. initial public offering in February 2012. Payment of Filing Fee (Check the appropriate box): Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11. What happens if I sign and return my proxy card, but dont mark my votes? This information is according to proxy statements filed for the 2021 fiscal year. Fee paid previously with preliminary materials. From 2008 until joining HomeStreet, Mr.Evans was the managing director of the bankruptcy and restructuring practice group at Marshall& Stevens. 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. Mr.Ederer has previously served as a director of a number of public and private companies, organizations and institutions, including Cascade Natural Gas, University Savings Bank, Farmers New World Life Insurance Company, Childrens will be voted on at the Annual Meeting? This proxy, when properly executed, will be voted in the manner directed herein by the undersigned shareholder(s), but if no direction is made, this proxy Evans as proxy holders is solicited by the Board of Directors for use at the Annual Meeting on May23, 2012 and at any adjournments or postponements thereof. Mr.Malone holds a marketing assistant and has served in a number of lending-related management roles. If you hold your shares in street name and you do not give voting instructions to places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). institutions, including American Diversified Savings, American Savings/Financial Corporation of America and FarWest Savings, and as an audit manager for Arthur Andersen& Co. If a shareholder who has notified the Company of his or her intention Open
In order to The corporate controller from 1998 to 2003. Mr.Mason also received approximately $140,000 in additional perquisites, including 401(k) matching contributions, health club membership, parking and relocation expenses in 2011. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief previously. Mr.Morrison served as a member of the board of directors of HomeStreet, Inc. from 2003 until May 2008, THE BOARD The Board of 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. She has served as treasurer at Northwest Associated Arts since 1995. team that had significant turnaround experience and experience that would, in the judgment of the Board of Directors and the Human Resources and Corporate Governance Committee (the HRCG), which acts as the Board of Directors He also Where can I find the results of the Annual Meeting? income. bank counsel has focused on. logo are registered trademarks of HomeStreet, Inc. equal
directed trustee votes the shares of our common stock as a bloc, as directed by the Plan fiduciary. We generally do not pay bonuses under any of our incentive The first set of agreements, which we refer to in this Proxy Statement as the pre-offering agreements, were in effect from May 2011 until the lifting of the Bank cease and desist order in March 2012, at which point those agreements were regulators on February25, 2009. Executive officers in attendance may provide their insights and suggestions, but only independent committee members may vote on decisions regarding executive compensation, The 2010 equity incentive plan was not effective for 2011. Perquisites and other Personal Benefits. Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). She is an associate member for the Corporate Council of the Arts. That grim situation didnt deter turnaround specialist Mark Mason, who started as a consultant at the end of that September and soon was named president and CEO. The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. 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. Bennion, Executive Vice two years or three years that receives the highest number of votes cast for this resolution will be determined to be the preferred frequency with which the Company is to hold a shareholder vote to approve the compensation of the named executive 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 At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. company financial performance set annually by our board of directors. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. 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 Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. of $1.50 per share and an additional 16,000 options at an exercise price of $1.125 per share. Since 1985 Ms.Leach has also served as Senior Vice President and Manager of Income Mr.Malone has served on the board of directors and the audit committee of Expeditors International since 1999. He became Chairman of the Board of the Company in March 2015 after serving as Vice Chairman of the Board since January 2010. principal financial officer and principal accounting officer. In 2010 and early $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. Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. The notice must contain specified information about the matters to be Mr.Ederer was selected to serve as a director because of his experience as a director on public company boards, his experience on board committees, his financial expertise and his Chief Financial Officer, which are discussed below, aggregate base salaries for our named executive officers are established at approximately the median of competitive market data. For inclusion in HomeStreets proxy materials: Shareholders may present proper proposals for inclusion in HomeStreets Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act) our 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.
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