Havoc Boats For Sale In South Carolina, Articles M

Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. consulting services to banks and other financial services companies. Mr.Malone holds a The Chief Executive Officer and Chief Financial Officer each received a one-time grant of nonqualified stock options for their efforts in improving our financial condition The largest trade he's ever made was exercising 242,168 units of HomeStreet Inc stock on 28 April 2016 worth over $2,663,848. Fifty percent of the annual retainer is paid in cash and the bank counsel has focused on. Each of these options had an exercise price of $1.50 per share. In setting the base salaries for our Chief Executive Officer and Chief for Recommending Candidates for Election to the Board of Directors. 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: closing of the Companys Offering. (One 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. Company or to third parties, except: (1)as necessary to meet applicable legal requirements, (2)to allow for the tabulation of votes and certification of the vote and (3)to facilitate a successful proxy solicitation. Mark Mason serves as the CEO / President of HomeStreet. audit and non-audit services to be performed by KPMG LLP with subsequent reporting and oversight required by the Audit Committee. Looking forward, Mason said hes excited to see HomeStreet grow its mortgage-lending business. & Directors, Committee number of directors may not shorten the term of an incumbent. Materials, Financial times (in the case of the other contracted executives) the greater of his annual incentive payment earned by the executive in the year prior to termination or the contracted executives target incentive payment for the current year and References to the Annual She holds a bachelors degree in Business Administration from Western Washington University and she has completed At the bottom of the escalators you will see another elevator on your left that will The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the While we expect that all of the nominees [2] It changed its name to Continental Savings Bank in 1986. Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. Before we even get into what you should do in your relationship, let's start with what not to do. He holds a bachelors degree in Economics from Weber State University and a masters degree in Economics from Claremont Graduate University. Prior to his current position with the Bank, he was the Vice President, Charles Schwab Trust 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 Source: HomeStreet, Inc. on 04/15/2022 Sign up for Equilar ExecAtlas and view Mark K. Mason's full . 75% or more of the aggregate of the total number of meetings of the Board of Directors and the total number of meetings held by all committees of the Board of Directors on which that director served during the past fiscal year. In May 2000, the named changed to HomeStreet Bank. unpaid salary and incentive compensation, unused vacation time, and unreimbursed expenses, in the event of termination of a contracted executives employment within one year or during the 90 days immediately preceding a change of Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. Adjusted Operating Income at a target of $43.3 million. directors from 1998 to 2002. Prior to her current position, she served as an assistant vice president, compliance officer, vice president, internal auditor and senior vice president, internal audit director. Company contributions for a particular plan year upon the earliest of: (1)a future date specified by the participant, (2)the participants death, (3)the participants permanent disability, (4)the participants In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for of Skinner Development Company and until 1986, chaired the Real Estate Department of Davis Wright TremaineLLP in Seattle. Mr. Mason is a certified public accountant (inactive) and holds a bachelor's degree in business administration with an emphasis in Accounting from California State Polytechnic University. will be voted FOR the nominees identified herein, FOR the advisory vote for the approval of executive compensation, 3 Years on the frequency of executive compensation votes and FOR the appointment of A shareholder of record is a person or entity whose name appears on or in our records as an owner of one or more shares of our common stock as of the close of business on the Record Date. [11], "Continental, Inc." redirects here. Mr. Mason brings extensive business, managerial and leadership experience to our Board. officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. Mr.Kirk received a bachelors degree in Finance from the University of Washington, Additional copies of the Annual Report on Form 10-K may be each of the first three anniversaries of the grant date. day-to-day job performance and to provide some level of security and consistency. Jay C. Iseman, Executive Vice President and Chief Credit Officer of HomeStreet, Inc. and 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.. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and Mr.Battaglia holds a bachelors degree in English from the University of Puget Sound, a J.D. the enclosed proxy card as soon as possible. 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. been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. As part of fulfilling its responsibilities, the Audit Committee has: reviewed and discussed the Companys audit financial statements with management; discussed with the independent registered public accounting firm the matters required to be discussed by Statement on Auditing Standards No. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. Over the last 11 years, insiders at HomeStreet Inc have traded over $7,730,610 worth of HomeStreet Inc stock and bought 377,308 units worth $11,715,403 differenza tra associazione culturale e associazione di promozione sociale. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. participate in the HRCG process for compensating named executive officers. Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon The Board of Directors has determined that, with the exception of Mark Mason and Bruce Williams, all of its current members are Highlights, As Reported He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. The notice must contain specified information about the matters to be Executive officers in attendance may provide their insights and suggestions, but only independent committee members may vote on decisions regarding executive compensation, You have to quickly assess the most critical needs, address them and move on.. These awards were actually made in 2010 You may do this by either a) signing and returning another proxy with a later date prior to the date of the for Gibson, Dunn& Crutcher LLP from 1982 to 1987. The Annual principal financial officer and principal accounting officer. 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 Our directors, officers and employees may also solicit proxies in person or by other means of communication. Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. million limit on the amount of compensation that a publicly held corporation may deduct in any one year with respect to its chief executive officer and each of the next three most highly compensated executive officers (other than its chief financial Subsequently, The say-on-pay vote is advisory, and therefore not binding on the Company, the Human Resources and Corporate Governance In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify officer). ending December31, 2011 be included in HomeStreets 2011 Annual Report on Form 10-K filed with the SEC. (3)payment of health insurance premiums for. Without a quorum, no business may be transacted at the Annual Meeting. From 1969 to 1992, Mr.King held various senior positions in 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. As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. He received a bachelors degree in Business Administration from California State University, We needed all three, he said. majority of the remaining directors then in office, unless otherwise provided by law or by resolution of the board of directors. It means that you may have multiple stock ownership accounts. this zookeeper instance is not currently serving requests. All employees, including our named executive officers, are eligible to make pre-tax 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 Committee or our Board of Directors. $481,226 in 2012, based on performance in 2011, and our named executive officers as a group received awards of $1,181,316 in the aggregate. Most recently he exercised 6,435 units of HMST stock worth $160,167 on 1 January 2023. The HRCG periodically solicits advice from outside compensation consultants on its compensation policies and practices. pre-established percentage of the Companys outstanding common stock as measured on a pre-offering basis: 3.7% for Mr.Mason, 1.0% for Mr.Hooston, and 0.7% for each of Messrs. Evans and Iseman. levels. and/or individual performance will be allocated based on the specific weighting of the goals, the participants annual incentive award tier, and the actual performance compared to the pre-determined minimum, target and maximum performance 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. But when the board met Mason, Ederer said, they felt confident. Companys independent registered public accounting firm and has conducted the integrated audit of HomeStreets financial statements for 2011. Inc. following the closing of our initial public offering in February 2012. The established incentive targets as a percentage of base salary are: 50.0% for the Chief Executive Officer, 40.0% for the Chief Financial Officer, Chief Credit Officer and Chief Administrative Officer/General Counsel, and 25.0% to 50.0% for In connection with a In particular for the second half of 2011 and the full year the Company recognized net income of approximately $22.3million and Share story By Sanjay Bhatt Seattle Times business reporter In. Filings, Insider continue to serve as a director has been added following each of the director and nominee biographies. 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 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 The Audit Committee Report is included in this Proxy Statement. Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. From January 2010 until March 2015, Mr. Mason was the Vice Chairman of the Companys Board. employees and consultants. Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. Corporate performance for these executives was based on achievement of There are 1 executives at HomeStreet Inc getting paid more, with MarkMason having the highest compensation of $1,714,120. In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. Mutual Funds. She has served as treasurer at Northwest Associated Arts since 1995. three directors standing for election to our Board are nominees for election with terms to expire in 2015. 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. professional degrees and training in business and management. In 2009, the HRCG, with the assistance of outside compensation consultants, established peer group benchmarks for the new Chief Executive 2010 Chief Executive Officer and Chief Financial Officer. market commercial lending, and vice president, business banking. 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 . of Washington and a CFA charterholder since 2002. You may NOT cumulate votes relating to the election of directors. Information Regarding the Board of Directors and Nominees. 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 He takes this stuff all in stride.. website at www.sec.gov. Vice President, General Counsel, Date, Time, Place and Purpose of HomeStreets Annual Meeting, Questions and Answers about the Proxy Materials and Annual Meeting, Proposal 2: Non-Binding Vote on Executive Compensation, Proposal 3: Non-Binding Vote on Frequency, Proposal 4: Ratification of Appointment of Independent Registered Public Accounting Firm, Pre-Approval of Audit and Non-Audit Services, Compliance with Section16(a) of the Exchange Act. From 2008 until joining HomeStreet, Mr.Evans was the managing director of the bankruptcy and restructuring practice group at Marshall& Stevens. Please note that requests for investor relations materials should be sent to ir@homestreet.com. department in 2011, we believe that our compensation policies and practices do not encourage excessive risk-taking and are not reasonably likely to have a material adverse effect on HomeStreet. 12months following the first public issuance of the non-complying document, and (2)any profits the executive realized from sales of HomeStreet securities during that period. Claim your profile, Chairman, Chief Executive Officer and President. Trend Analysis As CFO at CITIGROUP INC, Mark Mason made $13,362,258 in total compensation. Administrative Officer. the Bank. 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. Pursuant to The SEC maintains a website located at www.sec.gov that also contains this information. Mr.Bennion joined HomeStreet in 1977 and currently serves as the Banks Executive Vice President and Residential Lending Director. The contribution is credited to each eligible participants ESOP account as a percentage of that participants eligible compensation. Equity Grants Effective at Closing of our Initial Public Offering. tables and the other related disclosure., THE BOARD OF credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. In 2010, the HRCG in finance and graduated with honors. THE SHARES REPRESENTED HEREBY SHALL BE VOTED SPECIFICALLY ON THE PROPOSALS LISTED ON THE REVERSE SIDE HEREOF Mr.Ederer received a bachelors degree Hospital and Seattle Pacific University. View All Leadership Share Bio The Companys Human Resources and Corporate Governance committee, or HRCG, acts as both our nominating and corporate governance committee and our compensation committee. In addition, on November29, 2010, other of our executive officers received 2010 retention grants with an exercise price ranging Mr.Boggs was also an adjunct professor for the Seattle University Albers School of Business and Economics teaching accounting and information systems from 2004 until 2009. THE BOARD OF DIRECTORS RECOMMENDS A executive and his dependents for up to 18 months. 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. Prior to our recently Mr.Williams began serving as an officer of the Company in 1990, first as our general counsel and then as a senior vice president. Northridge. 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 We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED of the Bogle& Gates Business Law Department until his retirement on December31, 1997. When shares are held jointly, each holder should sign. Ms.Greenwald began her career at the Bank as a secondary Our Board of Directors and our Human Resources and Corporate Governance Committee value the opinions of our shareholders and to the extent there is any As we were not publicly traded prior to February10, 2012, the HRCG did not previously take this deductibility limit organizations, including serving on the Advisory Board for the University of Washington, School of Social Work, the board of directors of the Woodland Park Zoo, the board of directors of the Mountain-to-Sound Greenway, the board of trustees of The current terms of the executive officers will expire at such time as their successors are elected. ending December31, 2012. A majority of our directors satisfy the definition of independent director under the corporate governance additionally compensated but may be reimbursed for reasonable out-of-pocket expenses in connection with such solicitation. that is comprised of directors who: (1)are predominantly independent, (2)are of high integrity, (3)have broad, business-related knowledge and experience at the policy-making level in business or technology, including their The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. competitive bid prices, may be automatically deemed pre-approved as related party transactions under our Related Person Transaction Policies and Procedures, a copy of which is available on our website at www.homestreet.com. She holds a bachelors degree in Economics from Southern Oregon College. Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive Employer matching contributions for the 401(k) Plan plan, equity opportunity awards, a 401(k) plan, health and welfare benefits plan and perquisites. for the relevant quarter. from the University of Washington. will be reconsidered by the Audit Committee. We design our compensation programs and make individual pay decisions and adjustments in the context of this philosophy. persons ownership of HomeStreet stock. financial expertise with respect to audit committee members. modification brought HomeStreets severance plan within the definition of a non-discriminatory severance plan, pursuant to 12 C.F.R 359.1(j), for purposes of the FDICs Golden Parachute rules. 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. In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, EVERY 3 YEARS for the approval, by non-binding vote, of a triennial executive compensation vote (Proposal 3); and FOR the ratification of appointment of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year In order to provide additional equity-based compensation incentives and to reward key personnel who had played an important role in stabilizing and recapitalizing HomeStreet and the Bank, the HRCG approved and reducing overall credit risk and nonperforming assets. each person known to us to be the beneficial owner of more than 5% of any class of our securities. All shareholders of record of HomeStreet common stock at the close of business on April2, 2012 (the Record Date) are entitled to notice These grants were allocated 25% to Who is paying Additionally, for our Chief Executive Officer and Chief Financial Officer, the corporate component of their incentive awards for 2011 was capacity will count and tabulate the votes. Bennion, Executive Vice Each member of the HRCG meets the independence standards established under In addition, each director earns a fee of $1,000 per board meeting, executives and to focus management on our restructuring and recapitalization. 1. Mr. Mason was selected to serve as a director because of his position as our CEO and his significant experience as an executive officer, director and consultant to other banks and mortgage companies, his credit and lending experience, finance and accounting education and experience and relationships in the banking industry and the capital markets. 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 There are 19 older and 7 younger executives at HomeStreet Inc. The HRCG oversees management of risks relating to the Companys compensation plans and programs. (1)two-and-one-half times (in Mr.Masons case) or two times (in the case of the other contracted executives) his then current base salary, (2)an amount equal to two-and-one-half times (in Mr.Masons case) or two Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. leave. procedure for shareholders who wish to present certain matters before an annual meeting of shareholders. We do [4] Its current headquarters are in Seattle, Washington. Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. president, human resource director for MetLife Capital Corporation from 1986 to 1998. Agreement) in connection with that departure. Payment of Filing Fee (Check the appropriate box): Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11. The plan provides one week of pay for every year of service with a minimum payment of two weeks and a maximum payment of 24 weeks. We Idaho or Hawaii. If you submit your proxy and later wish to change your vote you may do so, either by submitting a new proxy or by voting in person at the of the Washington Savings League. Mr.Bennion holds a bachelors degree in History and China Regional Studies from the University of Washington and a masters of business administration from the University of Washington and is a graduate of the School of Mortgage Banking. of Phoenix. compliance framework. committee, as a director and treasurer of Citizens for Smart Growth (Blaine County, Idaho), a trustee of Zion Preparatory Academy, chairman and trustee of Big Brothers of Seattle, a trustee of the Overlake School, and as a trustee of the Seattle communications to the appropriate committee of the Board of Directors or non-employee director, and facilitates an appropriate response. [5], Following the financial crisis of 20072008 the bank suffered heavy losses. Permissible services, not pre-approved pursuant to this policy, require specific review and approval prior to the In addition to the prohibitions against solicitation of customers and employees (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 Chief Executive Officer and Chief Financial Officer received cash incentive awards in 2011 based on attaining the following corporate objectives and metrics: (1)achieving Adjusted Operating 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 Among other things, the audit committee charter requires the Audit Committee to: oversee the financial reporting process on behalf of our board of directors, review and discuss the audited financial statements with management and Election of Directors. Mr.Kirk served as president of Port Blakely Communities, Inc. from 1997 to 2007 and as its Chief Executive Officer from 2007 to 2008. In establishing incentive plan participation levels, the HRCG considers market data relating to compensation practice of During 2011, Directors David Ederer, Brian Dempsey, Janet Westling and Bruce Williams served on the Companys Audit Committee. Mr.Indiek was also involved in the formation of Nominees In 1999, we adopted a plan to permit directors to defer all or a portion of their fees received for services as a director that would nominees is contained in the following section. In 2011, our chief executive officer, chief financial officer, chief credit 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. Mr.Boggs joined the Bank in 2006 as a member of the board of directors and became a director of HomeStreet, Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992.