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 This additional discretionary award was for the significant contribution to the companys 2011 operating 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. the shareholders of said corporation to be held May23, 2012, at 10:00 a.m. in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101, and any adjournments or postponements thereof, and to vote the shares of the independent compensation consultant. In 2010 and early Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly independence. He takes this stuff all in stride.. 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 rules of Nasdaq. Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. engagement by the Audit Committee, or a designated member. Mr.Dempsey previously served as a member of the board of directors of the Federal Home Loan Bank of Seattle, as president of Talmadge Hamilton House (a United Way Agency) and as chairman These pre-offering agreements, which were in effect for most of 2011 and the beginning of 2012, provided for base salaries of not less than $600,000 for Mr.Mason, $300,000 for Mr.Hooston, A majority of our directors satisfy the definition of independent director under the corporate governance A DOUGLAS I. SMITH. She has served as Senior Vice President of the Bank since 1988, and as Vice President of Loan Administration at the Bank from 1978 through 1985. income. Prior to being named Citi CFO, Mr. Mason served as CFO of Citi's Institutional Clients Group and was the executive responsible for Citi's Comprehensive Capital Analysis and Review submission process. You may do this by either a) signing and returning another proxy with a later date prior to the date of the shareholders. This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian 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 With this letter, we are including the notice for the annual meeting, the Proxy Statement, the 2011 annual by the chief executive officer and audit committee where the related party is a director or by the chairman, chief executive officer or general counsel for non-director employees. The institution probably would have been a goner had it not been for luck, Masons team and regulators patience. the Cascade Land Conservancy Advisory Board. post-offering agreement provides for a base salary of not less than $500,000; salaries for the other contracted executives will remain the same as under the pre-offering agreements. Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net 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. 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 awards total approximately 5.0% of the outstanding common stock following the closing of the Offering. We needed all three, he said. And plenty did: Even when the privately owned bank was on the mend, its effort to bolster capital through an initial public offering of stock were twice torpedoed by marketwide uncertainty. In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. Each director holds office until that directors successor is duly elected and qualified or until his earlier death or resignation. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. Summary of 2011 Executive Compensation Program, Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007, and we expect that There are 15 older and 9 younger executives at HomeStreet Inc. of knowledge, experience and capability on the Board of Directors and considers (1)the current size and composition of the Board of Directors and the needs of the Board of Directors and the respective committees of the Board of Directors, 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. Please submit your proxy by mail in accordance with 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 At the bottom of the escalators you will see another elevator on your left that will The established incentive targets as a percentage of base salary are: 50.0% for the Chief Executive Officer, 40.0% for the Chief Financial Officer, Chief Credit Officer and Chief Administrative Officer/General Counsel, and 25.0% to 50.0% for 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 purposes of the Management/Support Incentive Plan was $51.9 million. Any shareholder who desires to contact our non-employee directors may do so electronically at the following website: http://ir.homestreet.com. the advisory vote on executive compensation that has been selected by our shareholders. member of the Washington State and Federal Bar Associations. does costco optical accept iehp; pride and ego in a relationship; how many players on a nba playoff roster; who sells morning star bamboo flooring; zoroastrian deity physiology; 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. consulting services to banks and other financial services companies. Abstentions will be counted for the purpose of What does In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan under which certain officers, including our named executive Although HomeStreet does not have a formal policy regarding attendance by members of the Board of Directors at our annual meeting of shareholders, shareholder proposals must be received by HomeStreets Corporate Secretary no later than December 28, 2012, and must otherwise comply with the requirements of Rule 14a-8 of the Securities Exchange Act of 1934, as amended (the Cory D. Stewart, Senior Vice President and Controller of HomeStreet, Inc. and Senior Vice President, Finance Financial Officer, David Hooston, effective as of March31, 2012. We do not currently anticipate that any other matters will be raised at the Annual Meeting. See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. Mr.Dempsey was selected to serve as a director because He is a former member of the King County Strategic Mr.Malone holds a Ms.Greenwald began her career at the Bank as a secondary Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year according to any stock option grant or plan. Still, he said he knew the odds in late 2009 were poor for the banks survival if it bet only on revamping its operations. Ms.Greenwald has been a member of Seattle Mortgage Bankers since approximately 1987 and is an active participant on various industry committees. Ms.Francis has more than seventeen years of cash management sales experience and most recently managed the cash management department of Puget Sound Bank, a three directors standing for election to our Board are nominees for election with terms to expire in 2015. 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. The Audit Committee Report is included in this Proxy Statement. chairman of University Savings Bank from 1984 to 1994. Calculators, Stock incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. The Sarbanes-Oxley Act of 2002 requires the Audit Committee to be directly responsible for the the Company in 2008. Election of Directors. 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 such beneficial owners. For 2010 and 2011, we also provided reimbursement for temporary housing, relocation and personal travel for our Chief Executive Officer, Chief Financial Officer and Chief Administrative Officer/General Counsel who were protecting proprietary information and proper use of assets. Submitted by the Audit mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years Agreement) in connection with that departure. The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. Mr. Bennions incentive target was three Ownership Plan (ESOP). market commercial lending, and vice president, business banking. 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 restricted stock awards vest upon the occurrence of an increase in the price of our common stock in comparison to the initial public offering price of $22 per share: one-third of the restricted stock awards vest upon an increase in our stock price Hospital and Seattle Pacific University. Additionally, we hope that you can attend the meeting in person. Wallmine is a radically better financial terminal. Ms.Williams has also held leadership roles with a number of community She is a member of both the regional and national chapters of the Association for Financial Chairman Dave Ederer said directors of the family-owned Seattle bank dreaded Fridays the day regulators seize distressed banks. This philosophy pertains to executive compensation as well as employee compensation at all other levels Don't ever be with someone because someone else pressured you to. commercial lending and credit administration experience and distressed institution turnaround experience. 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. The HRCG has the authority to Summary Mark K. Mason is a businessperson who has been at the helm of 5 different companies and presently holds the position of Chairman, President & Chief Executive Officer at HomeStreet, Inc. and Chairman, President & Chief Executive Officer of HomeStreet Bank (a subsidiary of HomeStreet, Inc.). 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. HomeStreets Ederer said that after regulators placed the bank under an enforcement order in 2008, there were many sleepless nights. That was the point where we felt we had someone who was going to guide us through the malaise, Ederer said. 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. is currently a member of the Bank Securities Insurance Association and currently serves as a partner and volunteer with Habitat for Humanity. Officer/General Counsel received 20,000 options. Facebook gives people the power to share and makes the world. However, whether or not a Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. . shareholders, we encourage, but do not require, directors to attend. 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. KPMG LLP currently serves at the During the year ended December31, 2011, the Board of Directors held 22 meetings. 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 skills. The Board of We also believe the compensation paid to our 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. 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, 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. 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. 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 But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. 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 to, or purchases from, any company where a non-employee director serves as an executive officer as well as all other relevant facts and circumstances, including the directors commercial, accounting, legal, banking, consulting, charitable and He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. All incentive compensation plans are approved by the HRCG as required by regulatory guidelines. 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. 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 must be sent to every shareholder in advance of the company's annual shareholders meeting. In this section we refer to these individuals as the contracted executives. All named executive officers are provided with the same Information Regarding the Board of Directors and Nominees.