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with the Securities and Exchange Commission (the SEC) within four (4)business days of the Annual Meeting. nominees is contained in the following section. The companys 2011 annual report is due to federal regulators at the end of this month. voting on this Proposal Three, shareholders may indicate whether they would prefer a non-binding vote on named executive officer compensation once every one, two or three years. management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. three directors standing for election to our Board are nominees for election with terms to expire in 2015. 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 That went on for months and months and months.. our business strategy. been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. However, the Board of Directors is submitting the selection of KPMG LLP to our shareholders for ratification as a matter of good corporate practice. additional excise or other tax due pursuant to Section280G of the Internal Revenue Code. his or her beneficiary will begin receiving a distribution of his or her deferrals for a particular plan year upon the earliest of (1)a future date specified by the participant, (2)the participants death or (3)the date the Trend Analysis As CFO at CITIGROUP INC, Mark Mason made $13,362,258 in total compensation. 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 HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices the following is a description of each transaction since January1, 2008, and each proposed transaction in which: the amount involved exceeds or will exceed $120,000; and. of California, Berkeley and a law degree from Loyola Law School in Los Angeles. 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 There are 19 older and 7 younger executives at HomeStreet Inc. Who is paying Mr.Gregory holds a bachelors degree in Mathematics and Mr.Malone has served on the board of directors and the audit committee of Expeditors International since 1999. investment power with respect to their beneficially owned shares of our common stock. Last updated: 4 January 2023 at 8:15pm EST. director candidates and has the authority to approve the fees and retention terms of any search firm. A majority of our directors satisfy the definition of independent director under the corporate governance 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. No equity grants were made in 2011 to any of our named executive officers. We granted awards of 161,446 shares to Mr.Mason, 45,206 Based upon a review of the assessment conducted by McLagan in 2010 and early 2011 and an internal review by our human resources In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above, The percentage of payout for overall performance of HomeStreet and for department Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon This proposal, commonly known as a say-on-pay proposal, gives our shareholders the opportunity to express their views on our named executive officers compensation as a whole. obtained without charge by writing to Investor Relations, HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. engagement by the Audit Committee, or a designated member. The turnaround, said Mason, was so all consuming. Two wasnt enough. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. 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 From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. to have a material adverse effect on HomeStreet. nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. Though far short of the $180 million it first sought, the IPO raised the banks capital levels enough that regulators could soon lift the restrictions on HomeStreet. We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. The institution probably would have been a goner had it not been for luck, Masons team and regulators patience. also the Certain Relationships and Related Transactions section in this Proxy Statement. regulators on February25, 2009. 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. Your vote will not be disclosed either within the 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. All employees, including our named executive officers, are eligible to make pre-tax each person known to us to be the beneficial owner of more than 5% of any class of our securities. He graduated cum laude with a bachelors degree in accounting and an MBA from the University of Utah. The percentages reflect beneficial Employer ESOP contributions are determined based on the attainment of goals for overall Ms.Williams has also held leadership roles with a number of community change would be in the best interests of the Company and its shareholders. These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the Our directors, officers and employees may also solicit proxies in person or by other means of communication. Mr Mason is 61, he's been the Exec. The Audit Committee and HRCG report to the Board as People are worried about the taint of another unsuccessful offer on the companys reputation, he said. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. Company is the trustee for all Plan assets except our common stock. Management/Support Performance-Based Annual Incentive Plan. What happens if I sign and return my proxy card, but dont mark my votes? on HomeStreets website and the SECs website are not part of this Proxy Statement. 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. Prior to his current position with the Bank, he was the Vice President, and reducing overall credit risk and nonperforming assets. KPMG. restricted stock awards and 75% to stock options; the stock options vest ratably on the first, second and third anniversaries of the completion of the initial public offering while the restricted stock grants vest upon the occurrence of certain Mr.Dempsey previously served as vice chairman of the Bank from 1996 to 2001. 2007 as Chief Information Officer. In the event that this selection A determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF. 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. 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 May 23, 2012, in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101 in order to consider and vote upon the following proposals: 1. He also holds an M.B.A. from Harvard Business School. 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. ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. She is an associate member for the Corporate Council of the Arts. The Chief Executive Officer and Chief Financial Officer received cash incentive awards in 2011 based on attaining the following corporate objectives and metrics: (1)achieving Adjusted Operating Filings, Insider Chairman and Pres & CEO of HomeStreet Inc since . Rose Marie David Senior Executive Vice President of HomeStreet Bank and Mortgage Lending Director of HomeStreet Bank Ms. Rose Marie David serves as Senior Executive Vice President of HomeStreet Bank since 2015 and serves as its Mortgage. 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. Jeffery D. Schlenker, Senior Vice President, Program Manager of HomeStreet Investment Services of the Bank. Company or to third parties, except: (1)as necessary to meet applicable legal requirements, (2)to allow for the tabulation of votes and certification of the vote and (3)to facilitate a successful proxy solicitation. has served as Senior Vice President, Retail Banking Director and as Vice President, Retail Bank Operations Manager prior to 2001. 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, Directors Scott FBR Capital Markets, HomeStreets underwriter, presold two-thirds of the shares and offered to buy $5 million worth of the banks stock more than it was being paid for the IPO. Severance and $175,013 or 172.4% of his target award. high-performance culture. HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii.The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. If your shares are held in street name, you will need proof of ownership to be admitted to the Annual Meeting. sub menu, Chairman, Chief Executive Officer and President. All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. Mr. Hoostons awards granted in 2012 were A participant or his/her beneficiary receives a distribution of his or her plan deferrals and The HRCG regularly reviews forward stock split that was effective March6, 2012); the remaining 25.0% were granted as restricted stock awards. Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from Calculators, Stock AND 4 AND A VOTE 3 YEARS ON PROPOSAL 3. She holds a bachelors degree in Business Administration, Finance from the at You may cast your vote on your preferred voting frequency by choosing the option of one year, two years, three years or abstain from served as a trustee and chair of the audit committee and budget and investments committee of the Financial Executives Research Foundation from 2002 to 2008, as director, chair of the pension committee and audit committee and designated financial 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. Prior to our recently The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key There are 1 executives at HomeStreet Inc getting paid more, with MarkMason having the highest compensation of $1,714,120. shares to Mr.Hooston and 32,288 shares to each of Messrs. Evans and Iseman on February15, 2012. In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, Property Finance, Vice President and Income Property Loan Officer, and income property loan closer. Following our recently completed initial public offering, in Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by The notice must contain specified information about the nominees and about the shareholder proposing such nominations. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of a different accounting firm at any time during the year if the Audit Committee determines that such a Mr. Mason brings extensive business, managerial and leadership experience to our Board. In early February, an opening appeared as market volatility was low. 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 Scott M. Boggs. the Dodd-Frank Wall Street Reform and Consumer Protection Act. Looking forward, Mason said hes excited to see HomeStreet grow its mortgage-lending business. The information She is also the first cousin of former directors Janet Westling, Steven Zimmerman and Karen Zimmerman. times (in the case of the other contracted executives) the greater of his annual incentive payment earned by the executive in the year prior to termination or the contracted executives target incentive payment for the current year and You may also find these items online, along with our Form 10-K, at http://ir.homestreet.com. The form of payment includes either a single lump sum payment or annual installment payments over a period of up to ten years. Mark Mason is on Facebook. Committees Concerning Independence) of the PCAOB; and. In order to be included in the Proxy Statement for the 2013 annual meeting of Its always better to be lucky than smart and unlucky, said Anderson. consulting services to banks and other financial services companies. Ms.Greenwald has also served as a director and treasurer of Common Ground and a legislative and legal affairs committee member of Seattle Mortgage Bankers officers for an exemption from the deductibility limits of Section162(m). Don't ever be with someone because someone else pressured you to. Mr.Hoostons cash incentive awards were $481,226 or 160.4% of target and $89,014 or 74.2% of target, respectively. In their discretion, the proxies are authorized to vote upon such other He received a bachelors degree in Business Administration from California State University, Mr.Gregory joined the Bank in 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 Employee directors are not compensated Additionally, for our Chief Executive Officer and Chief Financial Officer, the corporate component of their incentive awards for 2011 was Asset/Liability Manager and Treasurer of the Bank and the Company from 2003 to 2010. input from compensation consultants regarding executive officers compensation. income. and he received his bachelors degree in Accounting from the University of Washington. In addition, the post-offering agreements require the Company to Mark K. Mason is the Exec. A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. Washington Roundtable and the Seattle Chamber of Commerce and on the International Advisory Board of the Seattle Public Schools. Shareholders section elsewhere in this Proxy Statement. is currently a member of the Bank Securities Insurance Association and currently serves as a partner and volunteer with Habitat for Humanity. submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. The Board of A copy of this charter is available on our website at http://ir.homestreet.com. Ms. Williams served as a If signer is a partnership, please sign in partnership name by authorized person. I have not played golf in three years now.. 2003 to 2008. She holds a bachelors degree in Business Administration from Western Washington University and she has completed University of Washington and is a graduate of the Pacific Coast Banking School. Mr.King was chosen to serve as a director because of his experience as an executive officer, director and consultant to banks and financial services companies, his commercial banking relationships, his financial experience, However, if you hold your shares in street name (in the name of a bank or some other nominee), you