Powered By Q4 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, If you mark your voting instructions on the proxy card, Mark Mason (executive) - Wikipedia [4] Its current headquarters are in Seattle, Washington. 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. determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. The Dodd-Frank Act also enables our shareholders to indicate, at least Participation levels in all incentive Ms.Greenwald began her career at the Bank as a secondary Subsequently, From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC, and he served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank, and The Bjurman Barry Family of Mutual Funds. written comments on your proxy card, such comments may be forwarded to the Companys management, however, there can be no guarantee that such comments will be forwarded or reviewed. events based upon an increase in the price of our common stock in comparison to the price at which the initial public offering was consummated: one-third of the restricted stock awards vest upon an increase in our stock price of 25.0% from the Mark K Mason, Homestreet Inc: Profile and Biography Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. oregon farms carrot cake recipe - japshakti.com He has also served as a trustee of the Northwest Hospital and as chairman of its audit [11], "Continental, Inc." redirects here. 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. Mr. Mason is a certified public accountant (inactive) and holds a bachelors degree in business administration with an emphasis in Accounting from California State Polytechnic University. The actual payouts will be calculated as a proportion of minimum, target and maximum performance levels. The Bank surveys Company and Bank directors and senior and executive officers each HomeStreet CEO Mark Mason talks about the Miss HomeStreet - YouTube Meeting, Turn left on Seventh Avenue (first light at the end of the Union Street exit ramp). Mr.Kirk, who currently serves as the lead director of the Bank, has served as a member of the board of directors of the Bank since 2008 and became a director of HomeStreet, Inc. following the closing of our Wallmine is a radically better financial terminal. Mark Mason is chairman, president and CEO of HomeStreet Bank, a regional bank headquartered in Seattle. Therefore, no specific target and maximum award opportunities were defined for 2011 and no awards were earned for 2011 performance results. chairman of University Savings Bank from 1984 to 1994. mcdonalds garfield mugs worth As president and CEO of Fidelity Federal Bank in Los Angeles starting in 1998, he oversaw the turnaround of a $3.7 billion bank. We believe it is critical to HomeStreets success to attract, retain and incentivize highly qualified executives and to promote a 2007 as Chief Information Officer. income. date of the notice of the meeting in order to be timely. Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who If the signer is a corporation, please sign independence with respect to services provided by the independent registered public accounting firm, as well as the non-audit services the independent registered public accounting firm is prohibited from providing. 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 turnaround plan, including reducing troubled assets, improving the Banks performance and raising the additional capital necessary to recapitalize the Bank and the Company through our initial public offering. Seventh Avenue runs under the Union Square buildings and the garage entrance is mid-block on the right side of the street. From 1982 to 1987 Mr. The remaining named executives received cash in Business Administration from the University of Washington. We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key People are worried about the taint of another unsuccessful offer on the companys reputation, he said. And hes the chief financial officer until he hires a new one. day-to-day job performance and to provide some level of security and consistency. 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 We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation The most active insiders traders include Mark K Mason, Michael J Malone, and John Michel. Join Facebook to connect with Mark Mason and others you may know. fill such vacancy. Highlights, As Reported 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. The Management/Support Plan includes a provision allowing for the reduction or recovery of awards if the HRCG determines that materially She is an associate member for the Corporate Council of the Arts. engagement by the Audit Committee, or a designated member. All proxy statements are public filings made available to the general public by the SEC. 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. The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the Our Board is divided into classes of directors, with each class serving a three-year term. Regulatory Oversight Director. 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. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). The HRCG typically considers several factors when setting the base can we initialize static variable in constructor in java In the event of termination for cause, all unvested We awarded a special, one-time performance and retention incentive bonus to certain key executives in the second half of 2010 to incentivize and retain Ms.Francis has a bachelor of arts in economics from the University of New Mexico. 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. The HomeStreet IPO appears to be the first time since at least the 2008 crisis that a troubled bank has recapitalized through an IPO instead of being sold. Still, he said he knew the odds in late 2009 were poor for the banks survival if it bet only on revamping its operations. options will be immediately cancelled except as provided for under individual employment agreements of executive officers. This Proxy Statement, HomeStreets 2011 Annual Report on Form 10-K and the Companys other reports filed If we are required to restate our financials due to noncompliance Mr.Masons Human Resources and Corporate Governance Committee, the Board of Directors has nominated Brian P. Dempsey, Gerhardt Morrison and Douglas I. Smith for re-election as Class I directors. claims against the Company and its affiliates. Any such discretionary matching contribution matches a participants pre-tax 40l(k) Plan contributions at a percentage we determine of the first We are requesting that you provide the Board of Directors your vote prior to the meeting by completing and returning However, our Board of Directors approved grants of stock options and restricted stock awards to our executive officers and senior managers in 2011 that were granted effective upon the closing of our initial public offering in February 2012. WEST parking in the vicinity of a One Union Square elevator will be closer to the Hilton.). See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. professional degrees and training in business and management. Ms. All services rendered by and fees paid to KPMG LLP are reported to and monitored quarterly by the Audit Committee. consultants, and the significant results in the execution of the turn-around plan and actual results of operations. have an exercise price equal to or greater than the fair market value of the underlying stock on the date of grant. He recently joined a golf club, too, and has plans for a family vacation. How many shares are entitled to vote at the meeting? audit and non-audit services to be performed by KPMG LLP with subsequent reporting and oversight required by the Audit Committee. the specific instructions set forth in the enclosed proxy card. Mr.Boggs was selected to serve as a director because of his significant accounting and financial experience, his accounting credentials and degree as All of the 2010 retention grants 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 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 incentive bonus awards. IDENTIFY executive and board member connections in Mark K. Mason's network. 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 additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with such solicitation. Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. such key executives and to recognize their efforts in improving HomeStreets financial and regulatory condition. Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International Our board of directors has established a code of ethics as defined under the Exchange Act that applies to all HomeStreet directors, officers and employees, including our principal executive officer, Theres a new pressure, of course, as CEO of a publicly traded company. Mr.Iseman joined the Bank in August 2009 and currently serves as the Executive Vice President and Chief Credit Officer of the Company and the Bank. Repertory Theatre. Directions and Parking Instructions to HomeStreet, Inc. 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. capacity will count and tabulate the votes. familial relationships. Mr.Williams has served as a member of the The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association, and is an advisory board member of Seattle Universitys Albers School of Business and Economics. In addition, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable will be voted on at the Annual Meeting? Newly created directorships resulting from any increase in the authorized number of directors or any vacancies in the board of directors may be filled solely by the affirmative vote of a Amounts such awards are fully vested immediately upon issuance. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Data Fraud Is Focus To Bolster Chinas Lackluster Carbon Market, China Gives New Backing to Coal Even as Clean Energy Accelerates, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from We paid out amounts earned under the Management/Support Plan 2010 Retention Grants. The HRCG has reviewed the Compensation Discussion and Analysis included in this Proxy Statement and discussed it with We do not currently anticipate that any other matters will be raised at the Annual Meeting. Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. additional directors prior to the annual meeting of shareholders at which directors are elected. How long will each of the directors elected at the Annual Meeting continue to serve? Mark K. Mason - Biography - MarketScreener for our Board of Director must also meet any approval requirements set forth by our regulators. Prior to his current position and since joining the Company in 2009, Paulette Lemon, Senior Vice President, Retail Banking Director of the Bank. offering price; an additional one-third vest upon an increase of 40.0% from the offering price and the remaining one-third vest upon an increase of 50.0% from the offering price. This information is according to proxy statements filed for the 2021 fiscal year. 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. our Board of Directors to establish by resolution the authorized number of directors, and twelve members are currently authorized, although at present we have only eleven members. take you up to the Hilton Lobby. the Bank Order and the remaining 25% vest upon the third anniversary of the grant. with the shareholders interests. core deposits by at least 3.0%. 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 Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. Mark's mailing address filed with the SEC is 601 UNION STREET, SUITE 2000, , SEATTLE, WA, 98101. Shareholder ratification of the selection of KPMG LLP is 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 He However, all of our executive officers received retention equity grants in 2010 and restricted stock awards and option grants under our our common stock. for Recommending Candidates for Election to the Board of Directors. conversion of a security, (3)the power to revoke a trust, discretionary account or similar arrangement or (4)the automatic termination of a trust, discretionary account or similar arrangement. Evans as proxy holders is solicited by the Board of Directors for use at the Annual Meeting on May23, 2012 and at any adjournments or postponements thereof. AND 4 AND A VOTE 3 YEARS ON PROPOSAL 3. Committees Concerning Independence) of the PCAOB; and. HomeStreet had a decidedly unlucky path to the capital markets, though. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. of the Washington Savings League. 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 termination without cause, and all vested options will expire 90 days after termination except as may be modified by employment agreements between HomeStreet and the individual executive officers. Ownership Plan (ESOP). In addition, any options exercisable within 60 days of April2, 2012 nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. A majority of our directors satisfy the definition of independent director under the corporate governance Susan C. Greenwald, Senior Vice President, Single Family under the 2010 retention grants. If you are the beneficial owner of shares held by a broker in street name, your broker, as the record holder of the shares, is required to vote the shares in accordance with your instructions. Mr.Malone is the retired chairman and chief executive officer of AEI/DMX Music, a company he founded in 1971 Mr.Malone serves on the Seattle Police Foundation, having been a founding member and past chairman. The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, In 2017, HomeStreet CEO Mark Mason explained why. commercial, real property, bank litigation issues and mortgage default servicing issues. Director of the Bank. This plan was adopted to further reduce expenses and preserve capital. Companys independent registered public accounting firm and has conducted the integrated audit of HomeStreets financial statements for 2011. these persons had or shared the right to vote or dispose of approximately 13% of our common stock as of the Record Date. Prior to his current position with the Company, a private investment company, and he currently serves on the board of directors of the Prostate Cancer Foundation (formerly CaPCURE), PONCHO, CRISTA Ministries and the University of Washington Medical Institute for Prostate Cancer Research. In consideration of these and other benefits, Mr.Hooston provided a general release of defined in the 2010 retention grant agreements. 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. Accordingly, assuming the presence of a quorum, abstentions will not affect the results of the matters to be considered at the Annual Meeting. April2, 2012. From 1998 to 2002, Mr.Mason was president, chief Harvard Business School and a bachelors degree in economics from DePauw University. The undersigned shareholder of HomeStreet, Inc. hereby appoints David A. Ederer and Godfrey B. Evans, and each of them, with power of substitution to each, to attend the Annual Meeting of Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from The Audit Committee held 14meetings during the last fiscal year. We are still in discussions with KPMG LLP regarding the final amount of fees to be paid for such services for the Each member of the HRCG meets the independence standards established under Financial Officer, the HRCG considered the peer group benchmarks suggested by an. All notices of proposals by shareholders, whether or not included in our proxy materials, should be sent to our Corporate Secretary at our principal executive offices. The Annual program; for more detail please see the information below under the heading Executive Compensation:. We believe stock ownership by our executive officers helps align the interests of our executive officers 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. did amanda kenney leave wtaj - drsujayabanerjee.com In A recent brokerage statement or a letter Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by Mark K. Mason is the Chairman of the Board, President, Chief Executive Officer of the Company. FOR AGAINST ABSTAIN. Last year, it earned a profit of about $17.6 million. However, we may authorize compensation payments that do not comply with the exemptions in Section162(m) when we believe that such payments are appropriate to ending December31, 2012. 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 nominations for the election of directors may be made (1)by or at the direction of the Board of Directors, or (2)by a shareholder who has delivered written notice to HomeStreets Corporate Secretary within the Notice Period (as The 2010 Plan will be administered by because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. But when the board met Mason, Ederer said, they felt confident. This report is not for commercial use. 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 level of awards was based on an analysis conducted by Towers Watson, an discretionary authority to act on such other matters as may properly come before said meeting or any adjournments or postponements thereof. Musk Made a Mess at Twitter. Shareholders may request a free copy of the Principles of DIRECTORS RECOMMENDS A VOTE FOR THE ADVISORY (NON-BINDING). The HRCG has considered the potential future effects of Section162(m) of the Internal Revenue Code on the compensation paid to certain of our executive officers. In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for or other nominee who holds your shares. 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 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 The 2010 Of this total $775,000 was received as a salary, $943,640 was received as a bonus, $0 was received in stock options, $765,386 was awarded as stock and $17,995 came from other types of compensation. Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. We generally do not pay bonuses under any of our incentive 1. regulators on February25, 2009. This vote is not intended to address any HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. There are 19 older and 7 younger executives at HomeStreet Inc. Who is paying The principles underlying our executive 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 Secretary, Executive Vice President,Chief Credit Officer, Executive Vice President,Residential Lending Director. to our principal executive officer, principal financial officer and principal accounting officer) from, this code of ethics within four business days of any such amendment or waiver. It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. vote. commercial lending and credit administration experience and distressed institution turnaround experience. awards granted effective upon the completion of such offering. director candidates and has the authority to approve the fees and retention terms of any search firm. Please bring your Union Square garage entrance ticket to the meeting and we will be happy to validate your parking before you as part of the 2010 retention grants. Together As a result of that review, the HRCG determined that the compensation packages offered to the Chief Executive Officer and Chief Financial Officer were appropriate and commensurate with the services required. At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board Mr.Kirk served as president of Port Blakely Communities, Inc. from 1997 to 2007 and as its Chief Executive Officer from 2007 to 2008. Prior to his current position with the Bank, he was the Vice President,
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