President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. 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. The Dodd-Frank Act also enables our shareholders to indicate, at least as your name or names appear on this Proxy. 1. 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 University's Albers School of Business and Economics. Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. For the other proposals three-year terms, with one-third of the board of directors elected at each Annual Meeting of shareholders. not required by our bylaws or other applicable legal requirements. You can vote in person at the meeting. Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. Its always better to be lucky than smart and unlucky, said Anderson. 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. She has served as treasurer at Northwest Associated Arts since 1995. Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net This proxy, when properly executed, will be voted in the manner directed herein by the undersigned shareholder(s), but if no direction is made, this proxy 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. Our Executive Vice President, Residential Lending also received a grant of 8,000 options at a price per share of $1.50. The plan As of year-end 2011, the company earned $16.1 million in net income. What does from the University of New Hampshire and a Master Urban& Regional Planning degree in Housing and Real Estate Finance from George Washington University. Companys outstanding shares, have been calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the Exchange Act) as reflected in the beneficial ownership table shown in the Principal 2009 to 2010, senior in-house counsel at Washington Mutual Bank and JP Morgan Chase from 2005 to 2009. 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 meeting. 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. Mr.Dempsey previously served as vice chairman of the Bank from 1996 to 2001. compensation arrangements. Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. HomeStreet scooped up business as the nations biggest lenders pulled back on new mortgages to limit their exposure, said Trepp analyst Matthew Anderson. The post-offering agreements further provide that if any payments received by a contracted executive would We also intend to enter into indemnification agreements with our future directors and executive officers. Director of the Bank. The say-on-pay vote will, however, allow shareholders to express their views about our executive compensation philosophy, policies and practices, which may inform our Human Resources and Corporate Governance Meeting of shareholders (the Annual Meeting) of HomeStreet, Inc., a Washington corporation (the Company), will be held at 10:00 a.m., Pacific Daylight Time, on May23, 2012, in the Windward Room of the Hilton Hotel, 1301 Other than as set forth in this section, the ENVELOPE. corporation (the Company or HomeStreet) will be held at 10:00 a.m., local time, on May23, 2012, in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101. the Cascade Land Conservancy Advisory Board. By All In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify To view Mark K. Mason's complete executive work history, 1100 Marshall Street, Redwood City, CA 94063 | Phone (650) 241-6600 | Fax (650) 701-0993, President, Chief Executive Officer and Director, Former Senior Executive Vice President and Mortgage Lending Director, HomeStreet Bank, Sign up now to view Mark K. Mason's 74 connections . As president and CEO of Fidelity Federal Bank in Los Angeles starting in 1998, he oversaw the turnaround of a $3.7 billion bank. It means that you may have multiple stock ownership accounts. Structure, Analyst Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. 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 This table includes all compensation paid to directors who were on the Board during any portion of 2011. Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. Mark C. Gregory, Senior Vice President and Chief Information Officer of the Bank. Annual Meeting, Date, Time, HomeStreet employs more than 600 people across 19 branches and its downtown Seattle headquarters. rules as to both compensation and nominating committee requirements. michael cooper toronto first wife; kali flanagan back to the start; who owns slomin's oil; smith and wesson revolver for ladies; Posted on June 10, 2022 by . All services rendered by and fees paid to KPMG LLP are reported to and monitored quarterly by the Audit Committee. Where can I find the results of the Annual Meeting? THE BOARD During the year ended December31, 2011, the Board of Directors held 22 meetings. How does the Board of Directors recommend I vote? Idaho or Hawaii. Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who (Communication With Audit Committees), as amended and adopted by the Public Company Accounting Oversight Board (PCAOB) in Rule 3200T; received the written disclosures and the letter from the independent registered public accounting firm required by Rule 3526 (Communication with Audit We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding management. Calculators, Stock once every six years, how frequently we should seek a non-binding vote on the compensation of our named executive officers, as disclosed pursuant to the SECs compensation disclosure rules, such as Proposal Two of this Proxy Statement. FOR AGAINST ABSTAIN Brian P. Dempsey Gerhardt Morrison Douglas I. Smith 2. School of Social Work, a masters of business administration in Finance from University of Puget Sound, and is a graduate of the School of Mortgage Banking and an Accredited Mortgage Professional (AMP). In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. the HRCG. Turn right onto Sixth Avenue (first light at the end of the Seneca Street exit ramp), Turn right at University Street ( be careful to stay left of the concrete divider that separates the two-lane access road around the Union Square Patricia A. Leach, Executive Vice President of Home Street, Inc.; Executive Vice President and Income Property Lending To promote these objectives, we developed compensation arrangements for our new executive team, and maintained a general salary freeze in effect from 2009 through 2011 other than for special retention bonuses for certain key Corporate Secretary, General Counsel and Chief Administrative Officer, will vote your shares as recommended by the Board of Directors: FOR each of the director nominees identified herein, EVERY 3 YEARS for Proposal 3 and FOR approval of the other The Seattle-based bank's mortgage banking segment lost $16.7 million last year as interest. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. In addition to the payment of earned and website at www.sec.gov. In mid-2009, HomeStreet Bank appeared headed for oblivion. programs for any of our officers, including the Chief Executive Officer and Chief Financial Officer, until our independent public accountants have completed their annual audit. Mutual Funds. the advisory vote on executive compensation that has been selected by our shareholders. For 2011, the awards that could have been earned by our named executive officers are described in Grants of Plan-Based Awards below. We are still in discussions with KPMG LLP regarding the final amount of fees to be paid for such services for the In 2010, the HRCG 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. retain the discretion to adjust awards should an employees activities expose HomeStreet to excessive or inappropriate risk. Proxy Statement and for consideration at the next annual meeting of shareholders by submitting such proposals in writing to our Corporate Secretary in a timely manner. Mr.Battaglias career in both private practice and as in-house 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 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 From 1969 to 1992, Mr.King held various senior positions in Generally, we A copy of this charter is available on our website at http://ir.homestreet.com. Ms.Leach is a member of the board of directors of the Seattle Housing Resources Group, member of Commercial Real Estate Women, member of 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. Effective upon the closing of our initial public offering on February15, 2012 the majority of our then-existing board of directors resigned and certain new directors were appointed to the vacancies. University of Washington and is a graduate of the Pacific Coast Banking School. Peer group benchmarking was not used over the three preceding years for other management positions because we were not increasing base salaries for those other officers. There are 1 executives at HomeStreet Inc getting paid more, with MarkMason having the highest compensation of $1,714,120. Executive Officer. You have to quickly assess the most critical needs, address them and move on.. The HRCG held 14meetings during the last fiscal year. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. Mr. Bennions incentive target was three and the diversion of corporate opportunities, the contracted executives agreements also contain a six-month non-competition agreement which restricts certain competitive acts on behalf of another bank or thrift located in Washington, Oregon, of his significant experience as an executive officer and director of several financial institutions, his experience as a director on several public company boards, his experience on board committees and his professional degrees and training in As Chief Executive Officer at HomeStreet, Inc., Mark K. Mason made $2,502,021 in total compensation. 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 HomeStreet had a decidedly unlucky path to the capital markets, though. with turnaround skills and experience we believe were necessary to resolve problem assets and recapitalize HomeStreet. board of directors and is comprised of Pamela J. Taylor, Richard W.H. If the signer is a corporation, please sign Submitted by the Audit On March14, 2012, we announced a mutually agreed upon separation with our Chief member of the board of HomeStreet, Inc. from 1994 to 2012 and as a member of the board of the Bank from 1999 to 2012. $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. 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. We believe that our current overall non-employee director CONNECT with Mark K. Mason through your network of contacts. In 2011, our chief executive officer, chief financial officer, chief credit Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. During 2008, prior to returning to Bank of America, Mr.Iseman served as vice Pursuant to If you would like to receive electronic notification of documents filed with the Securities and Exchange Commission and the issuance of press releases, you may subscribe to e-mail alerts via the web site The institution probably would have been a goner had it not been for luck, Masons team and regulators patience. We granted awards of 161,446 shares to Mr.Mason, 45,206 Plan such that the total amount of all awards including certain awards made outside of the plan in 2010 as retention grants will not exceed 10.0% of our outstanding shares of common stock as measured immediately after the closing of our initial We believe stock ownership by our executive officers helps align the interests of our executive officers 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 ANNUAL MEETING OF SHAREHOLDERS OF HOMESTREET, INC. May23, 2012 NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL: The Notice of independence of our auditors; review and approve non-audit services, including a reconciliation of fees actually paid for non-credit services as compared to fees previously approved executives and senior managers in 2010. Brian P. Dempsey. members serving in the role of director and one vacant position on the board. Ms.Williams received a bachelors degree in Sociology from University of Washington, a masters degree in social work from University of Washington Prior to joining HomeStreet, Ms.Taylor served as executive vice IF you wish to vote for a person other than the nominees identified below, The banks chief financial officer, part of the turnaround team, recently announced his departure. the approval of executive compensation. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. recruited from out of state. The Audit Committee reviews and discusses with in each of the last two fiscal years were pre-approved by the Audit Committee. served as a trustee and chair of the audit committee and budget and investments committee of the Financial Executives Research Foundation from 2002 to 2008, as director, chair of the pension committee and audit committee and designated financial 2010 Retention Grants. duly elected and qualified. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Committee of the Board of HomeStreet, Inc. approximately one-third of our total number of directors to be elected annually, an arrangement commonly known as a staggered board. other factors as the HRCG may consider appropriate. To assist the Audit Committee in its oversight responsibilities, the pre-approval policy identifies the three basic principles of institutions. 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. sub menu, Chairman, Chief Executive Officer and President. In the event that this selection 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 Documents, Information You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). and Employee Stock Ownership Plan& Trust. You may also find these items online, along with our Form 10-K, at http://ir.homestreet.com. 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. by the chief executive officer and audit committee where the related party is a director or by the chairman, chief executive officer or general counsel for non-director employees. Perquisites include health club Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). quorum exists, a majority of the voting power of those present at the Annual Meeting may adjourn the Annual Meeting to another date, time and place. director candidates and has the authority to approve the fees and retention terms of any search firm. nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. Mr Mason is 61, he's been the Exec. 2012. Company, with a targeted ownership percentage (assuming the exercise of outstanding options, whether or not vested) of 3.7% for Mr.Mason and 6.5% for the executive officers as a whole. The HRCGs criteria and process for evaluating and identifying the candidates that it recommends to the full Board of Directors for selection as director nominees are as follows: In its evaluation of director candidates, including the members of the Board of Directors eligible for re-election, the HRCG seeks to achieve a balance References to the Annual We have created strong controls over the process for designing, implementing and monitoring incentive pay, which are incorporated into the overall Our articles of incorporation provide that directors are elected for The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. 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. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Biographical information about each of the on HomeStreets website and the SECs website are not part of this Proxy Statement. Paul J. Battaglia, Senior Vice President, Credit Counsel of the Bank. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. 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. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. Our directors, officers and employees may also solicit proxies in person or by other means of communication. A quorum refers to the number of shares that must be represented at a meeting in order to lawfully conduct business. We have a 40l(k) Savings Plan (the 401(k) Plan) and an Employee Stock Ownership Plan& Trust (the ESOP). 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, Mr.Dempsey previously served as a member of the board of directors of the Federal Home Loan Bank of Seattle, as president of Talmadge Hamilton House (a United Way Agency) and as chairman 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. On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive 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. Mason joined Citigroup in 2001 and has held a number of executive positions at the firm, including Chief Financial Officer of Citi's Institutional Clients Group, Chief Executive Officer of Citi Private Bank, Chief Executive Officer of Citi Holdings, and Chief Financial Officer and Head of Strategy and M&A for Citi's Global Wealth Management American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that . Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. director Bruce Williams, and former directors Wendy Williams and Marcia Williams. Victor H. Indiek. February 2012. Regulatory Oversight Director. 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 for Recommending Candidates for Election to the Board of Directors. 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 Any such discretionary matching contribution matches a participants pre-tax 40l(k) Plan contributions at a percentage we determine of the first As part of those grants, our Executive Vice President, Chief Credit Officer received a grant of 4,000 options related to his prior position as Senior Vice President, Credit Administration Manager at an exercise price Of this total $750,000 was received as a salary, $5,488,167 was received as a bonus, $0 was received in stock options, $7,106,691 was awarded as stock and $17,400 came from other types of compensation. School of Business, and a law degree cum laude from Harvard Law School. Participants in the ESOP The Management/Support Plan design incorporates a tiered approach with annual incentive awards linked to the achievement of pre-defined corporate, department and individual performance goals. The HRCG has reviewed the Compensation Discussion and Analysis included in this Proxy Statement and discussed it with Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. marketing assistant and has served in a number of lending-related management roles. any of our directors, executive officers or beneficial holders of more than 5% of our capital stock, or any immediate family member of or person In addition, all of the contracted executives unvested restricted stock and stock options will immediately vest and will remain exercisable shareholders will start on December28, 2012 and end on January27, 2013. Chairman, Pres & CEO at HomeStreet Inc. As the Exec. 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. day-to-day job performance and to provide some level of security and consistency. obtained without charge by writing to Investor Relations, HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. Please bring your Union Square garage entrance ticket to the meeting and we will be happy to validate your parking before you bank counsel has focused on. Director of the Bank. Prior to his current position with the The meeting will be held in the Winward Room on the lobby level of the Hilton. Award opportunity levels, expressed as a percent of salary, have been set for each eligible employee for each plan year. Lending Operations Director of HomeStreet Bank. addition, the Board has. We adopted a broad-based, non-discretionary severance plan following approval by our Your vote will not be disclosed either within the Corporate Governance at the address and phone numbers set forth above. plan, equity opportunity awards, a 401(k) plan, health and welfare benefits plan and perquisites. professional degrees and training in business and management. DIRECTORS RECOMMENDS A VOTE FOR THE ADVISORY (NON-BINDING). HomeStreet, Inc.s board of directors has authorized by resolution a 12-member board of directors, however, we currently have 11 For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. You may cast your vote on your preferred voting frequency by choosing the option of one year, two years, three years or abstain from Join Facebook to connect with Mark Mason and others you may know. Administrative Officer. The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, In addition, any options exercisable within 60 days of April2, 2012 the Bank. Computer Science from Park College, Kansas City. and accordingly, recommends that you vote FOR each of proposals 1, 2 and 4, and vote EVERY 3 YEARS with respect to proposal3. Share story By Sanjay Bhatt Seattle Times business reporter In. 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 HRCG typically considers several factors when setting the base 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 At the bottom of the escalators you will see another elevator on your left that will As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive