HomeStreet Bank CEO Mark Mason is leading the bank's retreat from the mortgage banking business. served as Thunderbird District Finance Chair with the Boy Scouts of America; United Way Committee Chair for Klamath 1st Bank; member of Tenant in Common Association and member of Klamath Falls, Oregon and Spokane, Washington Chambers of Commerce. 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, The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. In connection with a From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. George Mutual Funds. Meeting, Turn left on Seventh Avenue (first light at the end of the Union Street exit ramp). We paid out amounts earned under the Management/Support Plan Mr. Bennions incentive target was three Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. Ms.Vincent joined the Bank in 1987 and currently serves as Senior Vice President, Risk and Ms.Leach received her bachelors degree in Anthropology #H1Rewind HomeStreet Bank - HomeStreet Bank CEO Mark Mason talks about the Miss HomeStreet partnership Log In remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. In 2004, we adopted a deferred compensation plan which allows Management/Support Plan is based on adjusted operating income which we refer to as Adjusted Operating Income. Adjusted Operating Income is based on pretax income plus loan loss provision and OREO expenses, gains and losses on sales of 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 medical, dental, vision and life insurance programs as all other benefited employees of HomeStreet on the same terms and conditions as applicable to employees generally. 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. ENVELOPE. The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. these persons had or shared the right to vote or dispose of approximately 13% of our common stock as of the Record Date. professional degrees and training in business and management. detail in the questions and answers and other materials that follow. We are requesting that you provide the Board of Directors your vote prior to the meeting by completing and returning (3)payment of health insurance premiums for executive and his dependents for up to 18 months. Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. Mr.Bennion joined HomeStreet in 1977 and currently serves as the Banks Executive Vice President and Residential Lending Director. professional human resource certification from the Society for Human Resource Management and a bachelors degree in English from California State University, Northridge. In order to be included in the Proxy Statement for the 2013 annual meeting of Submitted by the Audit determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. engagement by the Audit Committee, or a designated member. All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years Washington 98101. officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. Union& Two Union Square share underground parking. KPMG. will be voted FOR the nominees identified herein, FOR the advisory vote for the approval of executive compensation, 3 Years on the frequency of executive compensation votes and FOR the appointment of date of the notice of the meeting in order to be timely. The 2012 annual meeting of shareholders of HomeStreet, Inc., a Washington home building and land development industries. #H1Rewind Who's "the best team in racing"? Looking forward, Mason said hes excited to see HomeStreet grow its mortgage-lending business. will be reconsidered by the Audit Committee. Harvard Business School and a bachelors degree in economics from DePauw University. incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. Wrong. in Business Administration from the University of Washington. the tavern grill apple valley menu . The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. 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. Chairman, Pres & CEO at HomeStreet Inc. As the Exec. In addition, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable ownership positions and transactions involving derivative securities relating to our common stock. Ownership Plan (ESOP). shares to Mr.Hooston and 32,288 shares to each of Messrs. Evans and Iseman on February15, 2012. What is the Prior to that, Mr.Stewart spent over seven years from October 2001 to February 2009 in various finance, accounting and enterprise risk management roles at Washington Mutual, Inc. and is a licensed CPA in the state applicable regulations, if you do not give instructions to your broker, your broker will not be permitted to vote your shares with respect to the Proposals 1, 2 and 3, described in this Proxy Statement. 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. Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance Financial Officer, David Hooston, effective as of March31, 2012. Executive officers, directors and greater than ten percent shareholders are of an independent registered public accounting firm is not ratified by the affirmative vote of a majority of the shares present and voting at the meeting in person or by proxy, the appointment of the independent registered public accounting firm A. copy of this charter is available on our website at http://ir.homestreet.com. Prior to joining San Diego Community Bank, he served as executive vice president and chief operating officer of Fullerton Community Bank from 1997 to 1998, president and chief Non-Binding Vote on Executive Compensation. 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 Participation levels in all incentive 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. The SEC maintains a website located at www.sec.gov that also contains this information. Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. 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 Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. Registrant, Confidential for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)), Soliciting Material Pursuant to 240.14a-12, (Name of Registrant as Specified In Its Charter). Ms.Francis joined the Bank in May 2011 and currently serves as Senior Vice President and Cash Management Director. What happens if I sign and return my proxy card, but dont mark my votes? 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. Calculators, Stock Among other things, this charter calls upon HRCG to: develop criteria for selecting new directors and to identify individuals qualified to become board members; select, or recommend that the board select, the director nominees for each annual meeting of shareholders; develop and recommend to the board a set of corporate governance principles applicable to the corporation, including periodic review and reassessment In May 2000, the named changed to HomeStreet Bank. Executive Officer in November 2011, we considered survey-based information aggregating compensation statistics for similarly situated institutions as well as compensation information for Chief Executive Officers from institutions in our peer A map and directions to the meeting location can be found at the back of What proposals long-term company-wide goals of safety and soundness, increased shareholder value and risk management. The Audit Committee of HomeStreet, Inc. is composed solely of independent directors as required by the Nasdaq corporate governance The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. on HomeStreets website and the SECs website are not part of this Proxy Statement. He has also served as a trustee of the Northwest Hospital and as chairman of its audit reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. In 2000, he was promoted to president and chief operating $175,013 or 172.4% of his target award. Please submit your proxy by mail in accordance with sub menu, Chairman, Chief Executive Officer and President. Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. The notice must contain specified information about the matters to be oregon farms carrot cake recipec'est dans les moments difficiles citationc'est dans les moments difficiles citation See However, we may authorize compensation payments that do not comply with the exemptions in Section162(m) when we believe that such payments are appropriate to way, the Board of Directors may decide that it is in the best interests of our shareholders and the Company to hold an advisory vote on executive compensation more or less frequently than the option approved by our shareholders. The HRCG oversees management of risks relating to the Companys compensation plans and programs. FOR THE FISCAL YEAR ENDING DECEMBER 31, 2012. He graduated cum laude with a bachelors degree in accounting and an MBA from the University of Utah. Inc. following the closing of our initial public offering in February 2012. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. But when the board met Mason, Ederer said, they felt confident. vote. In consideration of these and other benefits, Mr.Hooston provided a general release of There are 19 older and 7 younger executives at HomeStreet Inc. 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. 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. comments to management to contact us directly at the address provided on the cover page of this Proxy Statement. Godfrey B. Evans, Executive Vice The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify He sold the credit-card operations that had pushed the bank to the brink. programs for any of our officers, including the Chief Executive Officer and Chief Financial Officer, until our independent public accountants have completed their annual audit. Directors Scott directors and consultants and to provide a means whereby officers, employees, directors and consultants can acquire common stock or earn incentive compensation based on the value of our common stock, thereby strengthening their commitment to 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. All and executive officers are excluded from deliberations regarding their own compensation. Ms.Greenwald began her career at the Bank as a secondary the advisory vote on executive compensation that has been selected by our shareholders. Mr.Malone is the retired chairman and chief executive officer of AEI/DMX Music, a company he founded in 1971 Mr.Malone serves on the Seattle Police Foundation, having been a founding member and past chairman. 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. All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership Actual compensation in a given year will vary from the target compensation levels based primarily on the attainment of operating goals, the The level of awards was based on an analysis conducted by Towers Watson, an Mr.Morrison was selected to serve as a director These Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. directors by mail may do so by writing HomeStreets Corporate Secretary at HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. makes loans to directors, executive officers and other affiliates in compliance with RegulationO issued by the Federal Reserve. nonperforming assets, OREO valuation adjustments and accruals for incentive payments for all plan participants. How long will each of the directors elected at the Annual Meeting continue to serve? In general, HomeStreets Ederer said that after regulators placed the bank under an enforcement order in 2008, there were many sleepless nights. OF DIRECTORS RECOMMENDS A VOTE FOR THE RATIFICATION OF THE APPOINTMENT 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 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. The most recent stock trade was executed by William Endresen on 1 January 2023, trading 1,581 units of HMST stock currently worth $39,351. specific individuals may vary based on a number of factors, including competing compensation programs available for similar positions, scope of duties, tenure, specialized experience, institutional knowledge and performance. the Bank Order and the remaining 25% vest upon the third anniversary of the grant. Regulation O generally defines a principal shareholder as a person that directly Abstentions will be counted for the purpose of awards total approximately 5.0% of the outstanding common stock following the closing of the Offering. All Named Executive Officers. 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 levels. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. accordance with the audit committees charter, the audit committee will review and pre-approve in writing any proposed related party transactions; however, certain types of transactions, including Regulation O Loans, executive officer OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 2020 HomeStreet, Inc. All Rights Reserved. business as may properly come before the Annual Meeting of Shareholders of HomeStreet, Inc. This analysis provided competitive data on long-term awards expressed as a multiple of base salary. Who is paying Mark K. Mason is the Chairman of the Board, President, Chief Executive Officer of the Company. 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. Amounts management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. If you mark your voting instructions on the proxy card, they provide to HomeStreet with a goal of protecting the Company and the shareholders and providing the stability and skilled leadership we need in our current environment. will be voted on at the Annual Meeting? according to any stock option grant or plan. 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 . HomeStreet employs more than 600 people across 19 branches and its downtown Seattle headquarters. He has been a project manager at Quantum Partners since 2007 where he manages FDIC receiverships, including the disposition of the assets of failed banks. the cost of preparing, assembling and mailing the notices of the Annual Meeting, Proxy Statement and form of proxy and the solicitation of the proxies? Over the last 11 years, insiders at HomeStreet Inc have traded over $7,730,610 worth of HomeStreet Inc stock and bought 377,308 units worth $11,715,403 We are still in discussions with KPMG LLP regarding the final amount of fees to be paid for such services for the cast will be elected. A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for business, managerial and leadership experience to our board of directors. More Than 100 Years of Helping People and Their Businesses | HomeStreet . 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 Mr.Hoostons cash incentive awards were $481,226 or 160.4% of target and $89,014 or 74.2% of target, respectively. Let us earn your business. In 2009, the HRCG, with the assistance of outside compensation consultants, established peer group benchmarks for the new Chief Executive Based on such review and discussion, the members of the HRCG have recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this Proxy Statement. Section16(a) of the Securities Exchange Act of 1934, as amended, requires our executive officers and directors, and persons who own more than ten percent of a registered class of our equity The equity compensation awards targeted ownership potential of a Nominees for Class I Directors Terms Expire 2015. For determining competitive pay for our Chief The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s No equity grants were made in 2011 to any of our named executive officers. To assist the Audit Committee in its oversight responsibilities, the pre-approval policy identifies the three basic principles of Effective upon the closing of our initial public offering on February15, 2012 the majority of our then-existing board of directors resigned and certain new directors were appointed to the vacancies. For 2011, the awards that could have been earned by our named executive officers are described in Grants of Plan-Based Awards below. Shareholder recommendations for candidates to the Board of Directors must be directed in writing to HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101, Attention: General Counsel, and must include the from the University of Washington. Mr.Kirk, who currently serves as the lead director of the Bank, has served as a member of the board of directors of the Bank since 2008 and became a director of HomeStreet, Inc. following the closing of our executives and senior managers in 2010. Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net 2012. your shares will be voted as you instruct. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Mr.Battaglia has served the Bank since 2010. OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED The 2010 Plan will be administered by participate in the HRCG process for compensating named executive officers. Please note that changes to the registered name(s) on the account may not be submitted via this method. Kathleen A. Kanealii, Senior Vice President, Business Banking Director of The percentage of payout for overall performance of HomeStreet and for department The post-offering agreements further provide that if any payments received by a contracted executive would Meeting of shareholders (the Annual Meeting) of HomeStreet, Inc., a Washington corporation (the Company), will be held at 10:00 a.m., Pacific Daylight Time, on May23, 2012, in the Windward Room of the Hilton Hotel, 1301 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. With the exception of be indemnified. We evaluate each If you do not mark your vote on your proxy, David A. Ederer, Chairman of the Board of Directors, and GodfreyB. Evans, our employment agreements to retain certain executives and the talent, skills, experience and expertise that they provide to HomeStreet, with a goal of protecting the Company and the shareholders and to provide the stability and skilled leadership other factors as the HRCG may consider appropriate. underlying each such option grant. Our General Counsel receives these communications unfiltered by HomeStreet, forwards Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. Join Facebook to connect with Mark Mason and others you may know. compensation policies and programs include: provide levels of compensation competitive with those offered by our peers and competitors and consistent with our level of performance; attract and retain the most qualified and experienced individuals available to further our success; align the interests of executives and shareholders by linking a significant portion of an executives compensation to HomeStreets short- and
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