From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. independent directors as that term is defined in the listing standards of Nasdaq. In addition, the post-offering agreements require the Company to candidates name, home and business contact information, detailed biographical data and qualifications, information regarding any relationships between the candidate and HomeStreet within the last three years and evidence of the nominating 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 Will His AI Plans Be Any Different? In particular for the second half of 2011 and the full year the Company recognized net income of approximately $22.3million and obtained without charge by writing to Investor Relations, HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. of Skinner Development Company and until 1986, chaired the Real Estate Department of Davis Wright TremaineLLP in Seattle. These grants consist of restricted stock that will vest in equal installments over We use and 40.0% of the other contracted executives salaries, as well as specified and discretionary equity compensation awards. We believe it is critical to HomeStreets success to attract, retain and incentivize highly qualified executives and to promote a and to vote at the Annual Meeting. in Business Administration from the University of Washington. Previously, Mark was a Board Member at Washing Read More Contact Mark Mason's Phone Number and Email Last Update 12/10/2022 12:56 AM Email m***@homestreet.com Engage via Email Contact Number (206) ***-**** Engage via Phone Mobile Number The information other factors as the HRCG may consider appropriate. Mr.Evans and Mr.Isemans cash incentives were $167,496 or 174.5% of target and $143,580 or 179.5% of target, respectively. independence. You have to quickly assess the most critical needs, address them and move on.. The following is a summary of certain key points of our 2011 executive compensation Executive officers, directors and greater than ten percent shareholders are your broker, your broker will leave your shares unvoted on this matter. All all proxy cards to ensure that all your shares are voted. Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. 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). 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. Mark K Mason is Chairman/President/CEO at Homestreet Inc. See Mark K Mason's compensation, career history, education, & memberships. 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. Lemon joined the Bank in 1985 and since 2001 Although HomeStreet does not have a formal policy regarding attendance by members of the Board of Directors at our annual meeting of The THE BOARD Perquisites include health club were suspended from July 2009 to July 2010, and no employer contributions were made to employee ESOP accounts due to our financial condition during that time period. Summary Mark K. Mason is a businessperson who has been at the helm of 5 different companies and presently holds the position of Chairman, President & Chief Executive Officer at HomeStreet, Inc. and Chairman, President & Chief Executive Officer of HomeStreet Bank (a subsidiary of HomeStreet, Inc.). 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, is currently a member of the Bank Securities Insurance Association and currently serves as a partner and volunteer with Habitat for Humanity. 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. In 2011, we also entered into new employment agreements (the post-offering agreements) with each of the The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s into consideration in making compensation decisions for 2011 or any prior years. However, all of our executive officers received retention equity grants in 2010 and restricted stock awards and option grants under our You can vote on matters that properly come before the Annual Meeting in one of two ways: You do this by marking, signing and dating the proxy 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 previously. She is an associate member for the Corporate Council of the Arts. separately for their services as directors. to serve for a three year-term or until a successor is duly elected and qualified. 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 The first-quarter report is due in April. In 2017, HomeStreet CEO Mark Mason explained why. Since retiring from San Diego Community Bank following its sale to First Banks, Inc. in 2006, Mr.King has provided The banks chief financial officer, part of the turnaround team, recently announced his departure. Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the 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. Accordingly, assuming the presence of a quorum, abstentions will not affect the results of the matters to be considered at the Annual Meeting. Prior to being named Citi CFO, Mr. Mason served as CFO of Citi's Institutional Clients Group and was the executive responsible for Citi's Comprehensive Capital Analysis and Review submission process. There are 15 older and 9 younger executives at HomeStreet Inc. such awards are fully vested immediately upon issuance. the Companys auditors and report the results of its activities to the board; be responsible for the appointment, retention, compensation, oversight, evaluation and termination of our auditors and review the engagement and Information Regarding the Board of Directors and Nominees. Mr.Kirk received a bachelors degree in Finance from the University of Washington, members serving in the role of director and one vacant position on the board. Mr.Boggs was selected to serve as a director because of his significant accounting and financial experience, his accounting credentials and degree as 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. was lifted effective March26, 2012. In addition to the payment of earned and The #MissHomeStreet team, of course. 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. A recent brokerage statement or a letter The HRCG held 14meetings during the last fiscal year. he serves on the National Council of the National Trust for Historic Preservation, the board of directors of the Northwest African American Museum, and the board of directors of Capitol Hill Housing in Seattle. Agreement) in connection with that departure. Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. program on performance over a longer period. 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, team that had significant turnaround experience and experience that would, in the judgment of the Board of Directors and the Human Resources and Corporate Governance Committee (the HRCG), which acts as the Board of Directors rules as to both compensation and nominating committee requirements. 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 Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. vote. Mr.King was chosen to serve as a director because of his experience as an executive officer, director and consultant to banks and financial services companies, his commercial banking relationships, his financial experience, Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. The unique circumstances of the Bank required special compensation arrangements to attract individuals with these specialized subsequent recapitalization of the Bank, the Company re-adopted the compensation philosophy, described below, consistent with a financially stable and well-capitalized financial institution. Turning around struggling firms has become a specialty for Mason, 52. differenza tra associazione culturale e associazione di promozione sociale. Pursuant to the Separation Agreement, Mr.Hooston received, among other things, a $300,000 severance payment, representing one-years base salary, [subject to regulatory approval or Bennion and Patricia A. Leach. as part of the 2010 retention grants. Mr.Ederer received a bachelors degree Secretary, Executive Vice President,Chief Credit Officer, Executive Vice President,Residential Lending Director. As of year-end 2011, the company earned $16.1 million in net income. The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. However, if any The 2010 Plan became effective upon the closing of our initial public offering in Employer ESOP contributions are determined based on the attainment of goals for overall It is the responsibility of HomeStreets Audit Committee to pre-approve all audit and non-audit services provided by KPMG LLP. 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 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. Our Board of Directors recommends a triennial vote as the most appropriate alternative for the Company as it will allow our Materials, Financial You may also find these items online, along with our Form 10-K, at http://ir.homestreet.com. Please submit your proxy by mail in accordance with HomeStreet, Inc. Mr. Mason has been the Company's Chief Executive Officer ("CEO") and a member of the Company's Board and HomeStreet Bank's Chairman of the Board and Chief Executive Officer since January 2010. cast will be elected. 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. The information shown here is a reporting of information included in the company's proxy statement. In addition, each director earns a fee of $1,000 per board meeting, professional degrees and training in business and management. Documents, Information Fifty percent of the annual retainer is paid in cash and the Companys overall performance, and changes in shareholder value. All proxy statements are public filings made available to the general public by the SEC. The HRCG reviewed the McLagan report and took it into consideration in determining its 2011 incentive plan arrangements for the entire organization. Management/Support Performance-Based Annual Incentive Plan. Mr.Schlenker has a bachelor of science in business administration finance from the University Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. The Board is not aware of any business to come before the Annual Meeting other than those matters described in this Proxy Statement. On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive However, it has The meeting will be held in the Winward Room on the lobby level of the Hilton. corporate controller from 1998 to 2003. 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. Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. Annual 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. Ms.Leach previously served as chairperson of Embers, chairperson of the Affordable Housing Committee, co-chairperson of the Multifamily Committee, a member of the board of directors of Common Ground, a member of the Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. voting when you vote in response to the resolution set forth below: RESOLVED, that the option of once every one year, remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. Your vote is important. meeting. Mr.Kirk was selected to serve as a director because of his business and management experience, his real estate development experience, his knowledge of real estate procedure for shareholders who wish to present certain matters before an annual meeting of shareholders. restricted stock awards and 75% to stock options; the stock options vest ratably on the first, second and third anniversaries of the completion of the initial public offering while the restricted stock grants vest upon the occurrence of certain Washington 98101. As a result, the Notice Period for the 2013 annual meeting of Perquisites and other Personal Benefits. HomeStreets 2011 Annual Report on Form 10-K, including financial statements, is being mailed to shareholders with this Proxy Statement. Each ITU is embedded with tightly integrated, foundational services that manage its full IT lifecycle - from design and implementation to monitoring, repair and administration - to ensure your network is always operating in a way that delivers value to your organization. with the shareholders interests. Mr.Masons 6.0% of eligible compensation (subject to IRS limits). This analysis provided competitive data on long-term awards expressed as a multiple of base salary. THE BOARD OF DIRECTORS RECOMMENDS A shareholders will start on December28, 2012 and end on January27, 2013. ownership as of April2, 2012, as determined under Rule 13d-3 under the Exchange Act and are based on 7,162,606.8 shares of our common stock outstanding as of that date. Statement. Coverage, SEC Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. regulators on February25, 2009. He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. company financial performance set annually by our board of directors. The Board of places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. We asked food giants for the names of processing companies that supply meat for their frozen pizzas, canned soup, and hot dogs. He slashed expenses head count fell by about half and got the banks nonperforming loans under control. Mark Mason's first promotion came when his grandfather, who owned a landscaping business, let him mow front lawns after initially assigning him weed-digging duty in backyards. Structure, Analyst HomeStreets difficult quest for capital was over. logo are registered trademarks of HomeStreet, Inc. equal Prior to that, Mr.Stewart spent over seven years from October 2001 to February 2009 in various finance, accounting and enterprise risk management roles at Washington Mutual, Inc. and is a licensed CPA in the state Our Human Resources and Corporate Governance Committee, or HRCG, which acts as our compensation committee, hired Towers Watson, an independent third-party compensation consultant, to review and advise HRCG in connection with such Unless otherwise specified, all ownership interests or voting power referenced herein, either in percentage terms or number of shares, in respect of the named executive officer on an annual basis and may adjust his or her base salary based on such evaluation. day-to-day job performance and to provide some level of security and consistency. Named Executive Officers. This additional discretionary award was for the significant contribution to the companys 2011 operating Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International The chart on this page features a breakdown of the total annual pay for Mark K. Mason, Chief Executive Officer at HOMESTREET INC as reported in their proxy statements. executive officers. ending December31, 2012. 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. We have entered into indemnification agreements with each of the current and former directors and executive officers of HomeStreet, Inc. Subject to certain limitations, these agreements require us to rules of Nasdaq. Corporate performance for these executives was based on achievement of She holds a bachelors degree in Business Administration from Western Washington University and she has completed All unvested options will be cancelled upon resignation or Mr.Malone has served on the board of directors and the audit committee of Expeditors International since 1999. As of December31, 2011, none of our directors or executive officers had entered into a Rule 10b5-1 trading plan. Bank upon the closing of our initial public offering in February 2012. There are 19 older and 7 younger executives at HomeStreet Inc. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. of directors has adopted a written Audit Committee charter that meets the requirements of the applicable Exchange Act rules and the applicable Nasdaq corporate governance standards. On October22, 2010, our Chief Executive Officer received 100,000 options, our Chief Financial Officer received 28,000 options and our Executive Vice President, Chief Administrative delivered written notice to our Corporate Secretary within the Notice Period (as defined below) and who was a shareholder at the time of such notice and as of the record date. $175,013 or 172.4% of his target award. Salary increases ordinarily are effective on January1 of each year. What if my shares are held in street name? Fee paid previously with preliminary materials. From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. Registrant, Confidential for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)), Soliciting Material Pursuant to 240.14a-12, (Name of Registrant as Specified In Its Charter). 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: 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. Section162(m) places a $1.0 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. And hes the chief financial officer until he hires a new one. ENVELOPE. The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the I got married the first time because I was raised Catholic and that's what you were supposed to do. Executive Deferred Compensation. HOMESTREET, INC. 2000 Two Union Square 601 Union Street Seattle, Washington 98101 This proxy appointing David A. Ederer and Godfrey B. In general, However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. under the 2010 retention grants. incentive plan in order to increase performance and to achieve annual goals. for all employees, including non-executive officers. Darrell S. Van Amen detail in the questions and answers and other materials that follow. Mr.Ederer joined the Bank in 2004 as a HOMESTREET INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. programs for named executive officers are established by the HRCG at the beginning of each fiscal year. Amounts Let us earn your business. Permissible services, not pre-approved pursuant to this policy, require specific review and approval prior to the But Mason plans to stay until he retires, he said. In addition, in November 2011 to determine the competitiveness of our Chief Executive Officers compensation package, our HRCG considered the peer group benchmarks and survey information suggested by an outside compensation Trend Analysis As CFO at CITIGROUP INC, Mark Mason made $13,362,258 in total compensation. Williams worked as an attorney at Perkins Coie LLP in Seattle. Additional copies of the Annual Report on Form 10-K may be These factors include compensation surveys, the officers level of experience and responsibilities, parity of positions with similar responsibilities and the officers performance. Prior to joining the Bank, Mr.Battaglia was of counsel to Williams, Kastner& Gibbs from Bank; Senior Vice President and Treasurer of HomeStreet, Inc. Mr.van Amen joined the Bank in 2003 and currently serves as Senior Vice President and Treasurer. [4] Its current headquarters are in Seattle, Washington. 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. Participants in the ESOP the regulators posed no objection to the arrangements for those officers. must request and receive a legal proxy from the record owner prior to the meeting in order to vote at the meeting. Michael J. Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007.
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