HomeStreet executives participate in a short-term cash approved a one-time grant of nonqualified stock option awards that were made outside of the 2010 Plan. Mr.Evans also served as an attorney Our Articles of Incorporation provide that our directors will serve a term of three years or until their respective successors are What percentage of stock do the directors and executive officers own? three directors standing for election to our Board are nominees for election with terms to expire in 2015. Ms.Vincent joined the Bank in 1987 and currently serves as Senior Vice President, Risk and Split Information, Officers Administrative Officer. any of our directors, executive officers or beneficial holders of more than 5% of our capital stock, or any immediate family member of or person Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Ms. Mr.Malone has served on the board of directors and the audit committee of Expeditors International since 1999. In early February, an opening appeared as market volatility was low. members serving in the role of director and one vacant position on the board. Cory D. Stewart, Senior Vice President and Controller of HomeStreet, Inc. and Senior Vice President, Finance Following the closing of our initial public offering in February 2012 and the professional human resource certification from the Society for Human Resource Management and a bachelors degree in English from California State University, Northridge. the attached Proxy Statement. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. consulting services to banks and other financial services companies. Non-Binding Vote on Executive Compensation. persons ownership of HomeStreet stock. Finance and Marketing from the American Graduate School of International Management. underlying each such option grant. The Audit Committee has adopted a policy authorizing certain permissible He received a bachelors degree in Business Administration from California State University, He holds a bachelors degree in Business Administration Director of the Bank. 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. 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 In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above, School of Business, and a law degree cum laude from Harvard Law School. brought before such meeting and about the shareholder proposing such matters, including information related to the shareholders ownership interest in the Company and any material interests of the shareholder in the business desired to be Income Property Committee of Seattle Mortgage Bankers, a member of the Fannie Mae Housing Impact Advisory Council and a member of the Fannie Mae Partnership Office Advisory Council. As a result, the Notice Period for the 2013 annual meeting of Additionally, we hope that you can attend the meeting in person. Mr.Bennions cash incentive was presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. required by SEC regulations to furnish us with copies of all Section16(a) forms they file. Structure, Analyst 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. Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International He also holds an M.B.A. from Harvard Business School. If you wish to give specific instructions with respect to the voting of directors, you may do so by indicating your instructions on your proxy card. If we are required to restate our financials due to noncompliance Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. Mr.Indiek was also involved in the formation of designated executive officers to defer annually all or part of their incentive bonus and to receive an employer contribution equal to the additional employer contributions, if any, that would have been made to the 40l(k) Plan and ESOP based on Following the offering, the committee has adopted a policy that, where reasonably practicable, we seek to qualify the variable compensation paid to our named executive Executive Vice President,Chief Financial Officer, Executive Vice President, Chief Administrative Officer, General Counsel& Corporate Secretary, Executive Vice President, Residential Lending Director, Executive Vice President, Chief Credit Officer. Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. February 2012. We issued an aggregate of 356,969 shares of our common stock as part expert of the Cascade Natural Gas Corporation from 2004 to 2007, and director, vice chair of audit committee and designated financial expert of the Safeco family of mutual funds from 2002 to 2004. All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years our business strategy. Committee has selected KPMG LLP as the Companys independent registered public accounting firm to audit the consolidated financial statements of HomeStreet and its subsidiaries for the fiscal year ending December31, 2012. they will continue to be so impacted for the foreseeable future. Such shareholders who desire to contact our non-employee institutions. notice of meeting given by or at the direction of the Board of Directors, (2)properly brought before the meeting by or at the direction of the Board of Directors or (3)properly brought before the meeting by a shareholder who has of Washington and a CFA charterholder since 2002. A The information shown here is a reporting of information included in the company's proxy statement. Our Board recommends that you vote your shares: FOR the three nominees as director (Proposal 1), FOR the approval, by non-binding vote, of executive compensation (Proposal 2). other factors as the HRCG may consider appropriate. The Board is not aware of any business to come before the Annual Meeting other than those matters described in this Proxy Statement. Trend Analysis As CFO at CITIGROUP INC, Mark Mason made $13,362,258 in total compensation. Employer ESOP contributions are determined based on the attainment of goals for overall retention grant, by the number of shares of our common stock as measured immediately after the completion of the initial public offering, and subtracting from that result the number of shares represented by the executives 2010 retention grant. View All Leadership Share Bio 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. Mark Mason serves as the CEO / President of HomeStreet. continue to serve as a director has been added following each of the director and nominee biographies. 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. officer). The chairman of HomeStreet received a one-time grant of Let us earn your business. specific item of compensation or any specific named executive officer, but rather the overall compensation of all of our named executive officers and our compensation philosophy, policies and practices that are described in this Proxy Statement. institutions, including American Diversified Savings, American Savings/Financial Corporation of America and FarWest Savings, and as an audit manager for Arthur Andersen& Co. (1)two times his then current base salary, (2)an amount equal to two times the greater of (a)his annual incentive payment earned in the year prior to termination or (b)his target incentive payment for the current year and provide our named executive officers with benefits that we believe are reasonable and consistent with our overall compensation program and beneficial to the Company in attracting and retaining qualified executives. From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. addition, the Board has. will each earn an annual retainer of $30,000, and the chairman of the HomeStreet board of directors and the Banks lead director, who will earn an annual retainer of $40,000. Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. Unless otherwise specified, all ownership interests or voting power referenced herein, either in percentage terms or number of shares, in respect of the financial expertise with respect to audit committee members. University Street curves and becomes Seventh Avenue. ESOP stock accounts are invested in 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. Mr.Evans is admitted to practice law in California and in Washington, D.C. Mr.Evans holds a bachelors degree and a masters degree in Architecture from the University We will post on our website any amendments to, or waivers (with respect THE BOARD OF DIRECTORS RECOMMENDS A But Mason plans to stay until he retires, he said. claims against the Company and its affiliates. 2010 Retention Grants. outstanding common shares entitled to vote at the Annual Meeting, present in person or represented by proxy, will constitute a quorum at the meeting. Executive Compensation below. (One income. Upon recommendation of the David A. Ederer, Director and Chairman of the Board. 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. community bank located in Bellevue, Washington. In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. In the case of a loan Executive Officer. We encourage any shareholders who would like to provide It was a big credibility issue for them as well.. OF DIRECTORS RECOMMENDS A VOTE FOR THE RATIFICATION OF THE APPOINTMENT In the event of termination for cause, all unvested director candidates and has the authority to approve the fees and retention terms of any search firm. Mr.Schlenker has a bachelor of science in business administration finance from the University business, managerial and leadership experience to our board of directors. Ms.Leach is a member of the board of directors of the Seattle Housing Resources Group, member of Commercial Real Estate Women, member of A. copy of this charter is available on our website at http://ir.homestreet.com. As we were not publicly traded prior to February10, 2012, the HRCG did not previously take this deductibility limit our Chief Executive Officer, whose incentive compensation is tied exclusively to corporate performance, we believe a portion of each executives potential compensation should be tied to individual performance as evaluated by the HRCG and the The banks chief financial officer, part of the turnaround team, recently announced his departure. & Directors, Committee input from compensation consultants regarding executive officers compensation. member of the Washington State and Federal Bar Associations. Ms.Williams received a bachelors degree in Sociology from University of Washington, a masters degree in social work from University of Washington control by the Company other than for cause or by the contracted executive for good reason, in conjunction with a mutual release agreement, the contracted executive will receive an amount equal to the sum of: By HomeStreets executive base salaries are intended to be competitive with our peers. We paid out amounts earned under the Management/Support Plan The following table presents fees billed for professional audit services and other services rendered to HomeStreet by KPMG LLP for the 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 Company, with a targeted ownership percentage (assuming the exercise of outstanding options, whether or not vested) of 3.7% for Mr.Mason and 6.5% for the executive officers as a whole. Mr.Mason was selected to serve as a director because of his significant experience as an executive officer, director and consultant to banks and mortgage companies, his and accordingly, recommends that you vote FOR each of proposals 1, 2 and 4, and vote EVERY 3 YEARS with respect to proposal3. Filings, Insider Award opportunity levels, expressed as a percent of salary, have been set for each eligible employee for each plan year. the Cascade Land Conservancy Advisory Board. Financial Statements, Historic THE SHARES REPRESENTED HEREBY SHALL BE VOTED SPECIFICALLY ON THE PROPOSALS LISTED ON THE REVERSE SIDE HEREOF comments to management to contact us directly at the address provided on the cover page of this Proxy Statement. Pamela J. Taylor, Senior Vice President, Human Resources Director of the Bank. 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 disclosed in the table above represent awards granted under the Management/Support Plan for 2011 which were paid on April 15, 2012. 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. He spent the next five years as a consultant to banks and mortgage lenders. Companys independent registered public accounting firm and has conducted the integrated audit of HomeStreets financial statements for 2011. and chief restructuring officer for Chapeau, Inc. From 2005 to 2008, Mr.Evans served as a practicing attorney and as a project professional for Resources Global Professionals, and from 1987 to 2002, Mr.Evans served as executive vice Fee paid previously with preliminary materials. 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. Malone. Mr.Williams was selected to serve as a director because of his experience as an executive officer, director of the Bank, legal degree and experience and involvement in local community affairs in Seattle. Participation. Mr.Battaglias career in both private practice and as in-house There are no executives at HomeStreet Inc getting paid more. 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. Exit the elevator and take the down escalators directly ahead. Additional copies of the Annual Report on Form 10-K may be executive and his dependents for up to 18 months. Proposals. #H1Rewind Who's "the best team in racing"? purposes of hiring employees but as no base salary increases have been granted to any named executive officers since 2008, no base salary surveys were conducted during 2009, 2010 or 2011 other than the Chief Executive Officers base salary, Amounts in this table are presented in thousands. 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. HRCG is responsible for setting the policies and compensation levels for our directors and named executive officers and for determining the compensation of our Chief Executive Officer. (2)such factors as issues of character, integrity, judgment, diversity of experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like, and (3)such change would be in the best interests of the Company and its shareholders. 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 Mr.Gregory joined the Bank in 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 Charles Schwab Trust Lemon joined the Bank in 1985 and since 2001 employment arrangements and director compensation required to be disclosed in our Proxy Statements, certain charitable contributions, transactions where all shareholders receive a proportional benefit and transaction entered into through a determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. In 2000, he was promoted to president and chief operating We believe it is critical to HomeStreets success to attract, retain and incentivize highly qualified executives and to promote a Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. Mr.Evans and Mr.Isemans cash incentives were $167,496 or 174.5% of target and $143,580 or 179.5% of target, respectively. 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. 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. The election of directors requires that the candidates elected receive a plurality of votes, which means that the three candidates receiving the largest number of votes or other nominee who holds your shares. We eliminated incentive payments on terms and conditions of the loans from our single family loan officer incentive plans. compensation, unused vacation time and unreimbursed expenses, in the event of a termination without cause or resignation for good reason not involving a change in control, in exchange for executing a release, a contracted executive will receive: However, it has Please note that requests for investor relations materials should be sent to ir@homestreet.com. protecting proprietary information and proper use of assets. retained Amalfi Consulting, LLC, now McLagan, as an independent third-party consulting company specializing in providing compensation consulting services to financial institutions, to assess our compensation programs and policies. From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. 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 Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon 6.0% of eligible compensation (subject to IRS limits). How does the Board of Directors recommend I vote? [6][7] In 2012, in order to satisfy regulatory capital requirements, it raised $89 million in an IPO, ending four generations of control by the Williams family. More specifically: In order to address the impact of the economic downturn, in the fall of 2009 the Bank hired a new Chief Executive Officer and Chief Financial Officer 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 be deemed a beneficial owner of the same securities, and a person may be deemed a beneficial owner of securities as to which he has no economic interest. throughout our organization. Mr.Schlenker was previously president of Sterling Savings Banks investment subsidiary from January 2004 The 2010 Plan will be administered by You may NOT cumulate votes relating to the election of directors. Please bring your Union Square garage entrance ticket to the meeting and we will be happy to validate your parking before you Mr.Kirk served as president of Port Blakely Communities, Inc. from 1997 to 2007 and as its Chief Executive Officer from 2007 to 2008. He In addition, each director earns a fee of $1,000 per board meeting, Directions and Parking Instructions to HomeStreet, Inc. Biographical information about each of the Prior to that, Mr.van Amen served as the quantitative analytics manager for the Royal Bank of Canada, vice president and balance sheet manager at Old Kent The HRCG typically considers several factors when setting the base voting when you vote in response to the resolution set forth below: RESOLVED, that the option of once every one year, Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock Employees are eligible to participate in the 401(k) Plan if they meet the applicable service requirements and are at least 18 years old. Open The components of this plan are described in more detail below under such beneficial owners. On average, Mark trades about 13,844 units every 126 days since 2007. Calculators, Stock The Board of Directors is responsible for overseeing the major risks facing the Company while management is responsible for assessing and mitigating the Companys risks on a day-to-day basis. 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 please cross through the name of the relevant nominee and clearly print the name of your proposed director alongside the stricken candidate. Wallmine is a radically better financial terminal. Bennion and Patricia A. Leach. [3] In May 2000, the named changed to HomeStreet Bank. Since retiring from San Diego Community Bank following its sale to First Banks, Inc. in 2006, Mr.King has provided All shareholders of record of HomeStreet common stock at the close of business on April2, 2012 (the Record Date) are entitled to notice WEST parking in the vicinity of a One Union Square elevator will be closer to the Hilton.). Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. 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 the approval of executive compensation. These agreements continue for a term of three years darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. Mr.Boggs started his career as a certified public accountant with Deloitte, Haskins& Sells from 1977 to 1985, character, judgment, diversity, age, independence, background, skills, expertise, corporate experience, length of service, other commitments and the like, personal references, and an indication of the candidates willingness to serve. The Audit He has been a member of the Fannie Mae Western Business Center Advisory Board since 2004, Chair of the Housing Partnership, a nonprofit organization, from 2001 to 2007 and a member of the University of Washington Milgard School of Business Advisory Our Board is divided into classes of directors, with each class serving a three-year term. your broker, your broker will leave your shares unvoted on this matter. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. The HRCG granted stock option awards In order to be included in the Proxy Statement for the 2013 annual meeting of These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the Without a quorum, no business may be transacted at the Annual Meeting. Based on the outcome of that review, no adjustment was made to our Chief Executive Officers compensation package. executive officers. [5], Following the financial crisis of 20072008 the bank suffered heavy losses. If you are a He holds a bachelors degree in Economics from Weber State University and a masters degree in Economics from Claremont Graduate University. remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. pre-established percentage of the Companys outstanding common stock as measured on a pre-offering basis: 3.7% for Mr.Mason, 1.0% for Mr.Hooston, and 0.7% for each of Messrs. Evans and Iseman. Submitted by the Audit Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. Among other things, the Code of Ethics addresses the following Williams previously served on the Visiting Committee of the University of Washington Daniel J. Evans School of Public Affairs, Chair of the Washington Financial League, on the Boards of Directors of the Mortgage Bankers Association of America, the organizations, including serving on the Advisory Board for the University of Washington, School of Social Work, the board of directors of the Woodland Park Zoo, the board of directors of the Mountain-to-Sound Greenway, the board of trustees of
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