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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 of Washington and a CFA charterholder since 2002. Before we even get into what you should do in your relationship, let's start with what not to do. such awards are fully vested immediately upon issuance. Proxy Statement Pursuant to Section14(a) of the, Filed by the Registrantx Filed by a Party other than the The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. DIRECTORS RECOMMENDS A VOTE FOR THE ADVISORY (NON-BINDING). Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. home, Corporate Following our recently completed initial public offering, in member of its board of directors and in 2005 also became a member of the board of directors of HomeStreet, Inc. Mr.Ederer was elected chairman of that board in 2009. 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 Therefore, no specific target and maximum award opportunities were defined for 2011 and no awards were earned for 2011 performance results. The Audit Committee held 14meetings during the last fiscal year. The board of directors has adopted a policy for lending to our employees, directors and executive officers to ensure compliance with Regulation O loans by the Bank to our employees, directors and executive 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. That went on for months and months and months.. on satisfaction of performance goals. Executive officers in attendance may provide their insights and suggestions, but only independent committee members may vote on decisions regarding executive compensation, Notification, Privacy Fifty percent of the annual retainer is paid in cash and the of California, Berkeley and a law degree from Loyola Law School in Los Angeles. Among other things, the Code of Ethics addresses the following in Business Administration from the University of Washington. It turned out there were four times as many orders for shares than shares available. regulators on February25, 2009. We Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International recruited from out of state. completed initial public offering, in addition to the application of Regulation O to certain related-party transactions, we have followed formal conflict of interest policies requiring the review and pre-approval of transactions with a related party Mark K. Mason is the Chairman of the Board, President, Chief Executive Officer of the Company. 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 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. 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. Mr.Schlenker Change in Control Arrangements. 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. The HRCG periodically solicits advice from outside compensation consultants on its compensation policies and practices. 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 4. 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. Ratification of Appointment of Independent Registered Public Accounting Firm. Darrell S. Van Amen Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from 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. Your vote is important. We urge you to complete, sign and date your proxy card and promptly return it in the postage-paid envelope provided. 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. If a shareholder who has notified the Company of his or her intention Facebook gives people the power to share and makes the world. implemented compensation practices consistent with our complementary goals of preserving the Banks safety and soundness, assuring the survival and success of HomeStreet, fairly compensating employees, and attracting and retaining management professional degrees and training in business and management. Regarding the Board of Directors and Nominees. Except for Bruce Williams, director, and Kathryn Williams, Senior Vice President, Community Relations, who are siblings, there are no family relationships among any of our directors or The Bank surveys Company and Bank directors and senior and executive officers each As the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc, the total compensation of Mark Mason at HomeStreet Inc is $1,714,120. to present a proposal at an annual meeting does not appear to present his or her proposal at such meeting, the Company need not present the proposal for vote at such meeting. These agreements continue for a term of three years From January 2010 until March 2015, Mr. Mason was the Vice Chairman of the Companys Board. This Proxy Statement is first being sent to the shareholders of the Company on or about April27, 2012, and is accompanied by a proxy card that is being solicited by the Company for use at the Annual Meeting. 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 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 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 The equity compensation awards targeted ownership potential of a At each annual meeting, our shareholders elect directors within one class, and each class is staggered in a manner that causes It changed its name to Continental Savings Bank in 1986. (One salaries of each named executive officer. 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. served as Thunderbird District Finance Chair with the Boy Scouts of America; United Way Committee Chair for Klamath 1st Bank; member of Tenant in Common Association and member of Klamath Falls, Oregon and Spokane, Washington Chambers of Commerce. 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. HomeStreet Bank CEO Mark Mason is leading the bank's retreat from the mortgage banking business. Prices, Financial In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. 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 We also intend to enter into indemnification agreements with our future directors and executive officers. obtained without charge by writing to Investor Relations, HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. February 2009 to March 2012. rules as to both compensation and nominating committee requirements. Please note that requests for investor relations materials should be sent to ir@homestreet.com. Theres a new pressure, of course, as CEO of a publicly traded company. In addition to the payment of accrued and unpaid salary and incentive Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s From 1998 to 2002, Mr.Mason was president, chief Management Director of the Bank. 2011 Mr.Morrison served as a member of the board of directors of HomeStreet, Inc. from 2003 until May 2008, well as his experience as a designated financial expert on audit committees. (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 retention grants vest as follows: 25% vested immediately upon grant, 25% vest on the earlier of one year from the date of grant or upon completion of a capital raise, 25% vest on the earlier of two years from the date of grant or upon termination of Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. He holds a bachelors degree in Business Administration Please bring your Union Square garage entrance ticket to the meeting and we will be happy to validate your parking before you David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Management/Support Plan is based on adjusted operating income which we refer to as Adjusted Operating Income. Adjusted Operating Income is based on pretax income plus loan loss provision and OREO expenses, gains and losses on sales of the advisory vote on executive compensation that has been selected by our shareholders. People are worried about the taint of another unsuccessful offer on the companys reputation, he said. 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. We encourage any shareholders who would like to provide Its like triage, Mason said. Mr.Schlenker has a bachelor of science in business administration finance from the University days prior to the one year anniversary of the date on which we mailed our proxy materials to shareholders in connection with the previous years annual meeting of shareholders. All unvested options will be cancelled upon resignation or member of the Washington State and Federal Bar Associations. From 2008 until joining HomeStreet, Mr.Evans was the managing director of the bankruptcy and restructuring practice group at Marshall& Stevens. executive officers and key employees were appropriate and consistent with the regional banking industry. You have the power to revoke your proxy at any time before the polls close at the meeting. of those grants. In addition, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable University Street curves and becomes Seventh Avenue. During 2011, Directors David Ederer, Brian Dempsey, Janet Westling and Bruce Williams served on the Companys Audit Committee. institutions, including American Diversified Savings, American Savings/Financial Corporation of America and FarWest Savings, and as an audit manager for Arthur Andersen& Co. We granted awards of 161,446 shares to Mr.Mason, 45,206 Unless otherwise specified, all ownership interests or voting power referenced herein, either in percentage terms or number of shares, in respect of the A recent brokerage statement or a letter About Us | HomeStreet Bank Open FOR THE FISCAL YEAR ENDING DECEMBER 31, 2012. Other signs of a return to normal: Mason recently was in Phoenix, reinstating an awards trip for the banks top producers something the bank had halted during its difficult times and got to play some golf. The annual incentive awards granted under this plan provide for payments based upon attainment of specified goals that are intended to align the interests of employees with the interests of HomeStreet. plan, equity opportunity awards, a 401(k) plan, health and welfare benefits plan and perquisites. In addition, we believe a meaningful portion of each executives total compensation opportunity should be linked to our Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. 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. additional directors prior to the annual meeting of shareholders at which directors are elected. officers, received incentive awards to be paid in cash in 2012 based on attainment of specified goals that are intended to align the interests of employees with the interests of the Company. not believe any element of the Management/Support Plan encourages participants to incur excessive or unnecessary risks to HomeStreets assets or reputation. Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. bring back the old canadian flag - Newventureltd.com 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 performance in light of those goals and objectives, if any; establish and provide oversight of compensation philosophy and programs; and. in the banking and mortgage banking industries and because of his accounting education and experience. HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. We are authorized to issue up to 706,356 shares of our common stock issuable under the 2010 Plan, however, our Board of Directors have indicated that they intend to limit the amount of aggregate awards to be granted under the 2010 There are no executives at HomeStreet Inc getting paid more. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid ANNUAL MEETING OF SHAREHOLDERS OF HOMESTREET, INC. May23, 2012 NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL: The Notice of Section10A(m)(3) of the Exchange Act and the proposed rules adopted by the SEC directing the national securities exchanges (including the Nasdaq Stock Market) to adopt independence standards relating to members of compensation committees. The plan 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. The SEC has defined beneficial ownership of a security to mean, generally, the possession, including shared possession, directly or indirectly, of voting power or investment power. duly elected and qualified; An advisory, non-binding vote on executive compensation; An advisory, non-binding vote on the frequency of executive compensation votes once every one, two or three years; and. Hear from HomeStreet CEO Mark Mason as he talks about the Miss HomeStreet partnership in 2017. From 1982 to 1987 Mr. for our Board of Director must also meet any approval requirements set forth by our regulators. In 2000, he was promoted to president and chief operating Property Finance, Vice President and Income Property Loan Officer, and income property loan closer. Susan C. Greenwald, Senior Vice President, Single Family Section162(m) places a $1.0 He is a former member of the King County Strategic Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. Last year, it earned a profit of about $17.6 million. Jeffery D. Schlenker, Senior Vice President, Program Manager of HomeStreet Investment Services of the Bank. As a result, the Notice Period for the 2013 annual meeting of Ms.Greenwald began her career at the Bank as a secondary It is the responsibility of HomeStreets Audit Committee to pre-approve all audit and non-audit services provided by KPMG LLP. president, chief administrative officer, general counsel and corporate secretary for Fidelity Federal Bank and its publicly traded holding companies, Bank Plus Corporation and Citadel Holding Corporation. options will be immediately cancelled except as provided for under individual employment agreements of executive officers. Seventy-five percent of these awards were granted as stock options, with an exercise price of $22 per share (after giving effect to a 2-for-1 consultants, and the significant results in the execution of the turn-around plan and actual results of operations. FOLLOW changes in Mark K. Mason's employment. 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. The Sarbanes-Oxley Act of 2002 requires the Audit Committee to be directly responsible for the 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
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