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Ms.Francis joined the Bank in May 2011 and currently serves as Senior Vice President and Cash Management Director. needed in our current environment. We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding chairman of University Savings Bank from 1984 to 1994. The transaction was expected to be finalized in the first half of 2019. In this section we refer to these individuals as the contracted executives. We granted awards of 161,446 shares to Mr.Mason, 45,206 For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. She returned to the Bank in 1988 as Senior Vice President and AS THERE SPECIFIED. The equity compensation awards targeted ownership potential of a Unless otherwise set forth in the following table, the address of the listed shareholders is c/o HomeStreet, Inc., 601 Union Street Suite 2000, Seattle, Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. Malone. In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. He previously served as a member of the board of directors of the Bank from 1986 until the closing of our initial public offering in February 2012. Mr.Masons and She has served as treasurer at Northwest Associated Arts since 1995. The level of awards was based on an analysis conducted by Towers Watson, an You can see the complete history of Mr. Mason stock trades at the bottom of the page. These agreements are described in more detail under the heading If the signer is a corporation, please sign Our Employee Stock Ownership Plan, or ESOP, is our largest single shareholder. 4. These The information 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. Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year AND 4 AND A VOTE 3 YEARS ON PROPOSAL 3. of those grants. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. 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 The Computer Science from Park College, Kansas City. These loans are made in the ordinary course of business on substantially the same terms, including interest rates rules as to both compensation and nominating committee requirements. Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. Since 1974 Mr.Ederer has served as the chairman of Ederer Investment benchmark group as independently assessed by EW Partners. Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. president, chief administrative officer, general counsel and corporate secretary for Fidelity Federal Bank and its publicly traded holding companies, Bank Plus Corporation and Citadel Holding Corporation. It turned out there were four times as many orders for shares than shares available. She holds a senior In May 2000, the named changed to HomeStreet Bank. purposes of the Management/Support Incentive Plan was $51.9 million. The banks chief financial officer, part of the turnaround team, recently announced his departure. Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. The HRCG will determine the amount of any award that was overpaid as a result of inaccurate information and will send shareholder of record and you sign your proxy card but do not give instructions with respect to the voting of directors, your shares will be voted FOR the re-election of Messrs. Dempsey, Morrison and Smith. For and in consideration of the payments and other benefits due to [Mark K. Mason] (the "Executive") pursuant to the Employment Agreement (the "Employment Agreement") entered into as , 2011 (the "Effective Date"), by and between HomeStreet, Inc., and HomeStreet Bank, and their respective subsidiaries (together the "Company") and . President of HomeStreet, Inc.; Executive Vice President and Residential Lending Director of the Bank. Its like triage, Mason said. More Than 100 Years of Helping People and Their Businesses | HomeStreet Mr. Mason brings extensive business, managerial and leadership experience to our Board. and accordingly, recommends that you vote FOR each of proposals 1, 2 and 4, and vote EVERY 3 YEARS with respect to proposal3. While we expect that all of the nominees In Mary Francis, Senior Vice President, Cash According to Trepp, a provider of bank ratings, about half the banks that were under regulatory restrictions as of May 2009 when HomeStreet was ordered to improve its finances and management have since failed or been acquired. Mr.Boggs previously year ended December31, 2010 and fees paid for audit services rendered by KPMG LLP for the year ended December31, 2011. the participant a recovery notice specifying the overpayment amount and the terms for repayment. on executive compensation that occurs triennially is the most appropriate alternative for the Company, and therefore our Board of Directors recommends that you vote for a three-year interval for the non-binding vote on executive compensation. 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 Founded in 1921, HomeStreet Bank offers consumer and commercial banking, mortgage lending and loans for residential construction, commercial real estate financing, and insurance products and services on the West Coast and Hawaii. duly elected and qualified. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid Such directors, officers and employees will not be In accordance with Mr.Masons employment agreements with the Company, as of March26, 2012, the date of the lifting of the cease and desist order imposed on the Bank, Mr.Masons base salary decreased to Based on the results of this assessment, we do not believe that our compensation policies and practices for all employees, including non-executive officers, create risks that are reasonably likely (3)payment of health insurance premiums for executive and his dependents for up to 18 months. 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 More specifically, detail in the questions and answers and other materials that follow. Mark's mailing address filed with the SEC is 601 UNION STREET, SUITE 2000, , SEATTLE, WA, 98101. [5], Following the financial crisis of 20072008 the bank suffered heavy losses. directors from 1998 to 2002. 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 The HRCG has the authority to People are worried about the taint of another unsuccessful offer on the companys reputation, he said. With the exception of the base salaries for our Chief Executive Officer and 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. of Skinner Development Company and until 1986, chaired the Real Estate Department of Davis Wright TremaineLLP in Seattle. 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 What if my shares are held in street name? We have a 40l(k) Savings Plan (the 401(k) Plan) and an Employee Stock Ownership Plan& Trust (the ESOP). 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. Since retiring from San Diego Community Bank following its sale to First Banks, Inc. in 2006, Mr.King has provided meeting or submitting written notice of your revocation to our Corporate Secretary, Godfrey B. Evans, at our mailing address on the cover page of this Proxy Statement, or b) voting in person at the meeting. Be Together for the Right Reasons. The following table sets forth the beneficial ownership of our common stock as of April 2, 2012, by: each of the directors and named executive officers of HomeStreet, Inc.; all of our directors and executive officers as a group; and. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. It is my distinct pleasure to invite you to attend the 2012 annual meeting of shareholders of HomeStreet, Inc. What happens if additional matters are presented at the Annual Meeting? unpaid salary and incentive compensation, unused vacation time, and unreimbursed expenses, in the event of termination of a contracted executives employment within one year or during the 90 days immediately preceding a change of Agreement) in connection with that departure. Request, Email In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior compensation arrangements. Corporate Governance at the address and phone numbers set forth above. committee, as a director and treasurer of Citizens for Smart Growth (Blaine County, Idaho), a trustee of Zion Preparatory Academy, chairman and trustee of Big Brothers of Seattle, a trustee of the Overlake School, and as a trustee of the Seattle corporate controller from 1998 to 2003. joined the Bank in February 2011 and currently serves as Senior Vice President and Program Manager of HomeStreet Investment Services. Mark K. Mason Net Worth (2022) | wallmine home, Corporate As of December31, 2011, none of our directors or executive officers had entered into a Rule 10b5-1 trading plan. HomeStreets executive base salaries are intended to be competitive with our peers. When shares are held jointly, each holder should sign. Regulation O generally defines a principal shareholder as a person that directly 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 Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by for Recommending Candidates for Election to the Board of Directors. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s Seventh Avenue runs under the Union Square buildings and the garage entrance is mid-block on the right side of the street. The Audit Committee and HRCG report to the Board as with any financial reporting requirements as a result of misconduct, our Chief Executive Officer and Chief Financial Officer must reimburse the Company for: (1)any bonus or other incentive or equity-based compensation received during the 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. Unless otherwise indicated, we believe that each of the shareholders listed has sole voting and shareholders will start on December28, 2012 and end on January27, 2013. If you provide professional degrees and training in business and management. HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. independent compensation consultant. Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. $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. The Dodd-Frank Act also enables our shareholders to indicate, at least well as his experience as a designated financial expert on audit committees. If you do not mark your vote on your proxy, David A. Ederer, Chairman of the Board of Directors, and GodfreyB. Evans, our Prior to joining the Banks board, Mr.King served as WHERE NO SPECIFICATION IS MADE, SAID SHARES SHALL BE VOTED FOR PROPOSALS 1, 2 AND 4 AND FOR THE 3 YEARS OPTION ON PROPOSAL 3. Company is the trustee for all Plan assets except our common stock. Employment Agreement - Mark Mason (post-offering) - SEC The Audit Committee Report is included in this Proxy Statement. Plus, the states economy has improved rapidly. Join Facebook to connect with Mark Mason and others you may know. Freddie Mac, serving initially as its first chief financial officer from 1970 to 1973 and then as its president and chief executive officer from 1974 to 1977. IF you wish to vote for a person other than the nominees identified below, Mason said he had to persuade the board to try a third time so soon again. 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. which was reviewed in November 2011. with the shareholders interests. We believe it is critical to HomeStreets success to attract, retain and incentivize highly qualified executives and to promote a In addition to the prohibitions against solicitation of customers and employees We are still in discussions with KPMG LLP regarding the final amount of fees to be paid for such services for the Assistance. Officer and Chief Financial Officer positions. Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. Bank through our initial public offering, our Board also approved grants of restricted stock awards and stock options to senior executive officers under our 2010 equity incentive plan, with such grants becoming effective upon the closing of our Ms.Greenwald has been a member of Seattle Mortgage Bankers since approximately 1987 and is an active participant on various industry committees. HomeStreets Ederer said that after regulators placed the bank under an enforcement order in 2008, there were many sleepless nights. The chairman of HomeStreet received a one-time grant of School of Business, and a law degree cum laude from Harvard Law School. previously. Equity Grants Effective at Closing of our Initial Public Offering. However, the Board of Directors is submitting the selection of KPMG LLP to our shareholders for ratification as a matter of good corporate practice. completed initial public offering, in addition to the application of Regulation O to certain related-party transactions, we have followed formal conflict of interest policies requiring the review and pre-approval of transactions with a related party 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. been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. as part of the 2010 retention grants. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. 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 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. Williams served as a business unit executive officers. Last updated: 4 January 2023 at 8:15pm EST. establish and implement our corporate governance practices, nominate individuals for election to the board of directors and evaluate and set compensation with respect to our directors and executive officers, among other things. 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. has served as Senior Vice President, Retail Banking Director and as Vice President, Retail Bank Operations Manager prior to 2001. From 1998 to 2002, Mr.Mason was president, chief [3] In May 2000, the named changed to HomeStreet Bank. In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for long-term financial performance; and. View All Leadership Share Bio Mark Mason - Facebook Mr.Battaglias career in both private practice and as in-house The following table shows the compensation paid to our non-employee directors for 2011. board of directors and is comprised of Pamela J. Taylor, Richard W.H. 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. Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. : Investor Relations, 2000 If you are a 90 days nor more than 120 days prior to the actual date of the 2013 meeting; provided, that if the notice of such meeting is less than 100 days before the date of such meeting, notice of such proposal must be made not less than 10 days after the