$500,000 per year. After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. Mark Mason Chairman of the Board and Chief Executive Officer at HomeStreet Bank Seattle, Washington, United States 299 followers 245 connections Join to view profile HomeStreet Bank. report and a proxy card. Mr.King, joined the board of directors of the Bank in 2010 and became a director of HomeStreet, Inc. following the closing of our initial public offering in February 2012. Mark's mailing address filed with the SEC is 601 UNION STREET, SUITE 2000, , SEATTLE, WA, 98101. including the named executive officers. (Continued and to be signed on the reverse side.) 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 Mr.Malone holds a The banks chief financial officer, part of the turnaround team, recently announced his departure. We granted awards of 161,446 shares to Mr.Mason, 45,206 The Companys Adjusted Operating Income as calculated for If you dont love doing it, you cant do it., Sanjay Bhatt: 206-464-3103 or
[email protected], Amazon shutters some convenience stores, including 2 in Seattle, Boeing WA state workers split $513M in bonuses as CEO's pay tops $22M, Thousands of WA workers may have to repay millions of dollars in pandemic benefits, King County needs 17K new homes every year to address housing shortage, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs. These participation levels may be increased or decreased after the beginning of a fiscal year at the discretion of the committee. 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. In performing their oversight responsibilities, the Board and Audit Committee periodically discuss with management the Companys policies with respect to risk assessment and risk management. He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. CONNECT with Mark K. Mason through your network of contacts. DIRECTORS RECOMMENDS A VOTE FOR THE ADVISORY (NON-BINDING). Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. 2010 Chief Executive Officer and Chief Financial Officer. from $1.125 to $1.50 per share. In May 2011, to provide additional compensation incentives and reward certain key executives who have played an important role in recapitalizing the Annual Meeting, Date, Time, 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 President of HomeStreet, Inc.; Executive Vice President and Residential Lending Director of the Bank. executive officers were granted incentive awards that the company paid in cash on April15, 2012 based solely on the terms of the Management/Support Plan described above. Prior to our recently No employee contributions were made to employee ESOP defined below) and who was a shareholder at the time of such notice and as of the record date. Chairman and Pres & CEO of HomeStreet Inc since . In addition to the payment of accrued and unpaid salary and incentive Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Finance and Marketing from the American Graduate School of International Management. David A. Ederer, Director and Chairman of the Board. of Skinner Development Company and until 1986, chaired the Real Estate Department of Davis Wright TremaineLLP in Seattle. (including, without limitation, for the purpose of soliciting additional proxies), the persons named as proxy holders, David Ederer and Godfrey Evans, or either of them, will have discretion to vote on those matters in accordance with their best Our board of directors is divided into three classes and one-third of our directors are elected each year Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. Charles Schwab Trust ending December31, 2012. ADVISORY (NON-BINDING) VOTE ON EXECUTIVE COMPENSATION. Equity Grants Effective at Closing of our Initial Public Offering. submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. the current composition and size of the Board of Directors. OF DIRECTORS RECOMMENDS A VOTE FOR THE RATIFICATION OF THE APPOINTMENT During 2011, Directors David Ederer, Brian Dempsey, Janet Westling and Bruce Williams served on the Companys Audit Committee. 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 Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. HomeStreet had a decidedly unlucky path to the capital markets, though. This information is according to proxy statements filed for the 2021 fiscal year. community bank located in Bellevue, Washington. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. the attached Proxy Statement. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Its like triage, Mason said. reward and motivate appropriate executive behavior that produces strong financial results while managing risks and promoting regulatory compliance. We suspended this plan in 2008 due to HomeStreets financial condition and as a result none of our named executive officers were Mark K. Mason is the Exec. The corporate component for the Mr.Smith has been elected to serve as a director because of his experience in the residential construction lending area as well as his experience in the HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Pamela J. Taylor, Senior Vice President, Human Resources Director of the Bank. 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. directors by mail may do so by writing HomeStreets Corporate Secretary at HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. It was incredibly disappointing, given the amount of effort and cost to get to that point, Mason said. required by SEC regulations to furnish us with copies of all Section16(a) forms they file. Prior to joining Port Blakely Communities, he served as president In consideration of these and other benefits, Mr.Hooston provided a general release of marketing assistant and has served in a number of lending-related management roles. Mr.Evans joined HomeStreet in November 2009 and currently serves as the Executive Vice President, General Counsel and Chief differenza tra associazione culturale e associazione di promozione sociale. officers for an exemption from the deductibility limits of Section162(m). remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. Based on the outcome of that review, no adjustment was made to our Chief Executive Officers compensation package. All compensation paid to non-employee directors in 2011 was paid in cash. Please bring your Union Square garage entrance ticket to the meeting and we will be happy to validate your parking before you Where can I find the results of the Annual Meeting? The estimated Net Worth of Mark K Mason is at least $6.8 Million dollars as of 1 January 2023. As a 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. A non-binding advisory vote for or indirectly, or acting through or in concert with one or more other persons, owns, controls or has the power to vote more than 10% of any class of voting shares. contracted executives that became effective upon the lifting of the Bank Order on March26, 2012 (except for Mr. Hoostons agreement, which was superseded by the Separation Agreement. capacity will count and tabulate the votes. 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. compliance framework. All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership 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. compensation committee, be sufficient to promote the safety and soundness of the Company and the Bank and, ultimately, to return HomeStreet to profitability, address the regulatory and operational burdens that we faced during that time, and execute Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. Income at a target of $43.3 million (2)reducing non-performing assets to total assets to 5.8% (3)reducing classified assets to total assets to below 9.0% (4)achieving a net interest margin of at least 2.46% and (5)increasing to have a material adverse effect on HomeStreet. We will post on our website any amendments to, or waivers (with respect Structure, Analyst Prior to working at HomeStreet, Mr. Williams served for two years in the U.S. Peace Corps as a college professor in Liberia. [3] In May 2000, the named changed to HomeStreet Bank. Management Director of the Bank. Ms.Vincent 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. The Board of Directors has determined that, with the exception of Mark Mason and Bruce Williams, all of its current members are services is compatible with maintaining the independent registered public accounting firms independence. Mark Mason is a Chairman & Chief Executive Officer at HomeStreet Bank based in Seattle, Washington. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Participants in the ESOP (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 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. Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. underlying each such option grant. If you are unable to attend the meeting and vote in person, please submit a proxy as soon as possible, so that your shares can be voted at the meeting in accordance with your instructions. He has previously served as a member of the oregon farms carrot cake recipec'est dans les moments difficiles citationc'est dans les moments difficiles citation and to vote at the Annual Meeting. University of Washington and is a graduate of the Pacific Coast Banking School. determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. 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 Employer ESOP contributions are determined based on the attainment of goals for overall initial public offering in February 2012. The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, levels. This report is not for commercial use. ABOVE BY SIGNING AND RETURNING THE ATTACHED PROXY TO THE COMPANY. However, all of our executive officers received retention equity grants in 2010 and restricted stock awards and option grants under our Mr.Bennions cash incentive was Jeffery D. Schlenker, Senior Vice President, Program Manager of HomeStreet Investment Services of the Bank. 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. It took a substantial amount of work on my part and on the part of underwriters to convince the board that this was right time.. Liked by Courtney Mason Happy to announce that WaFd Bank wins again! executive officers. additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with such solicitation. In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. This additional discretionary award was for the significant contribution to the companys 2011 operating places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). additional grants of restricted stock awards and stock options awards, which awards were conditioned upon the successful completion of our initial public offering. Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. 2003 to 2008. The committee also ordinarily reviews recommendations and Prior to joining the Banks board, Mr.King served as The HRCG granted stock option awards initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. For determining competitive pay Such shareholders who desire to contact our non-employee familial relationships. Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. The form of payment includes either a single lump-sum payment or annual installment payments over a period of years, but not more than ten years. Executive officers, directors and greater than ten percent shareholders are In 2010, the HRCG Mr.Dempsey Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who Each member of the HRCG meets the independence standards established under duly elected and qualified. You can vote in person at the meeting. 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The proposals scheduled to be voted on at the Annual Meeting are: The election of the three Class I directors listed in this Proxy Statement to serve for a term of three years or until their respective successors are Meeting, Turn left on Seventh Avenue (first light at the end of the Union Street exit ramp). We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. 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 Each director holds office until that directors successor is duly elected and qualified or until his earlier death or resignation. the Dodd-Frank Wall Street Reform and Consumer Protection Act. A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. KPMG LLP has principal at Indiek Realty/Finance, which he formed in 1995. The actual payouts will be calculated as a proportion of minimum, target and maximum performance levels. 2011, McLagan assessed our incentive compensation programs and made recommendations with respect to the Sound Incentive Compensation Policy Final Guidelines as adopted by our regulators effective June 2010 and the guidelines to be implemented under View All Leadership Share Bio 2011 In 2010 and early In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. Mr.Bennion also received a discretionary award of $124,987 for a total award of $300,000. Our Employee Stock Ownership Plan, or ESOP, is our largest single shareholder. 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. Judd Kirk. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. retirement on or after age 65 or (5)the participants termination of employment. Pursuant to well as his experience as a designated financial expert on audit committees. It was a big credibility issue for them as well.. Because the Bank Order was terminated in March 2012 and replaced with an informal memorandum of understanding, these options are now vested as to 75% of the stock From 1982 to 1987 Mr. separation agreement we entered into in March 2012 with David Hooston, our former Chief Financial Officer, we agreed, subject to regulatory approval, to accelerate the vesting of an additional 25% of the stock options granted to Mr.Hooston Committee Membership of Directors of HomeStreet, Inc. Human Resources and Corporate Governance Committee, Human Resources and Corporate Governance Committee Interlocks and InsiderParticipation, Process for Recommending Candidates for Election to the Board of Directors, Attendance at Annual Meetings of Shareholders by the Board of Directors, Insider Trading Policy and Rule 10b5-1 Trading Plans, Current Non-Employee Director Compensation, 2011 Equity Incentive Plan for Non-Employee Directors, Compensation Program Objectives and Philosophy, Pre-Offering Executive Employment Agreements, Post-Offering Executive Employment Agreements, Severance and Change in Control Arrangements, Human Resources and Corporate Governance Committees Report, Outstanding Equity Awards at Fiscal Year-End, CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, Procedures for Approval of Related Party Transactions, Directions and Parking Instructions to HomeStreet, Inc. Take the Seneca Street exit, (exit 165), on the left side of the freeway. In establishing the specific metrics for the Management/Support Plan, the HRCG focuses, among other things, on mitigating the possibility that such metrics will encourage participants to incur excessive or unnecessary risk. Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. shareholders, we encourage, but do not require, directors to attend. Mr.Bennion joined HomeStreet in 1977 and currently serves as the Banks Executive Vice President and Residential Lending Director. 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. 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, 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. Our articles of incorporation provide that directors are elected for That grim situation didnt deter turnaround specialist Mark Mason, who started as a consultant at the end of that September and soon was named president and CEO. 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. The HRCG typically considers several factors when setting the base 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. Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. 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 . such awards are fully vested immediately upon issuance. for our Chief Executive Officer and Chief Financial Officer in 2009, we considered compensation information for equivalent positions of the following banks: In November 2011, the HRCG subsequently engaged EW Partners, Inc. (EW Partners) Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. 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 In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior under the 2010 retention grants. Mark was preceded . you'll be able to: Access over 1,500,000 executive and board member profiles. compensation arrangements. If you want to vote your shares of common stock held in street name in person at the Annual Meeting, you will have to get a written proxy in your name from the broker, bank During 2008, prior to returning to Bank of America, Mr.Iseman served as vice Assistance. Named Executive Officers. of those grants. 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 Directions and Parking Instructions to HomeStreet, Inc. The option of one year, two years or three years that receives the highest number of votes cast by shareholders will be the frequency for 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 About Us. 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. 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. In addition, any options exercisable within 60 days of April2, 2012 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. In 2011, our named 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. Ms.Williams is the sister of and the diversion of corporate opportunities, the contracted executives agreements also contain a six-month non-competition agreement which restricts certain competitive acts on behalf of another bank or thrift located in Washington, Oregon, $16.1million, respectively. Mr.Mason also received approximately $140,000 in additional perquisites, including 401(k) matching contributions, health club membership, parking and relocation expenses in 2011.