In addition to the prohibitions against solicitation of customers and employees HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock 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. She holds a senior President of HomeStreet, Inc.; Executive Vice President and Residential Lending Director of the Bank. brought before the meeting. . He also 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. Institute of Seattle. OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED TRIENNIAL VOTE AS THE FREQUENCY WITH WHICH SHAREHOLDERS ARE PROVIDED AN with the SEC are also available on HomeStreets website at http://ir.homestreet.com after the reports are filed with the SEC. Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. approved a one-time grant of nonqualified stock option awards that were made outside of the 2010 Plan. HomeStreet, Inc. Mr.Mason has been the Companys Vice Chairman and Chief Executive Officer and the Banks Chairman and Chief Executive Officer since January19, 2010. You may NOT cumulate votes relating to the election of directors. incentive bonus awards. way, the Board of Directors may decide that it is in the best interests of our shareholders and the Company to hold an advisory vote on executive compensation more or less frequently than the option approved by our shareholders. The Audit Committee considers whether the provision of related audit Mr.Ederer received a bachelors degree the cost of preparing, assembling and mailing the notices of the Annual Meeting, Proxy Statement and form of proxy and the solicitation of the proxies? obtained without charge by writing to Investor Relations, HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. University Street curves and becomes Seventh Avenue. 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, 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. 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 Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. determining the presence or absence of a quorum for the transaction of business. If you provide Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. See Management Committees of the Board of Directors HomeStreet had planned to complete its IPO in early August. The Company is paying all such costs. Adjusted Operating Income at a target of $43.3 million. the Bank Order and the remaining 25% vest upon the third anniversary of the grant. Mark Mason serves as the CEO / President of HomeStreet. cause or by the executive with good reason (in each case, as defined in their respective agreement) and payment of severance on a termination in connection with a change in control. will be included in the beneficial ownership of the holder of such option, and the percentage ownership for that holder will be calculated by adding the aggregate number of options exercisable within 60days of April2, 2012 to both the 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 2011, our named The bank finished its worst quarter ever in September 2009, losing nearly $43 million. The Companys Adjusted Operating Income as calculated for shares to Mr.Hooston and 32,288 shares to each of Messrs. Evans and Iseman on February15, 2012. All of the 2010 retention grants board of directors and is comprised of Pamela J. Taylor, Richard W.H. We do not believe that any element of the 2010 Plan encourages excessive or unnecessary risks to HomeStreets assets or reputation. Committee or our Board of Directors. Executive officers in attendance may provide their insights and suggestions, but only independent committee members may vote on decisions regarding executive compensation, 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. for the relevant quarter. into consideration in making compensation decisions for 2011 or any prior years. In addition, on November29, 2010, other of our executive officers received 2010 retention grants with an exercise price ranging The most recent stock trade was executed by William Endresen on 1 January 2023, trading 1,581 units of HMST stock currently worth $39,351. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). constitute an excess parachute payment within the meaning of Section280G of the Internal Revenue Code, the Company will pay that individual an additional amount so that his net payment will not be diminished in any respect by the From 1982 to 1987 Mr. shareholders will start on December28, 2012 and end on January27, 2013. We are still in discussions with KPMG LLP regarding the final amount of fees to be paid for such services for the He received a bachelors degree in Business Administration from California State University, What is the or indirectly, or acting through or in concert with one or more other persons, owns, controls or has the power to vote more than 10% of any class of voting shares. Therefore, no specific target and maximum award opportunities were defined for 2011 and no awards were earned for 2011 performance results. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. We granted awards of 161,446 shares to Mr.Mason, 45,206 Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. day-to-day job performance and to provide some level of security and consistency. That grim situation didnt deter turnaround specialist Mark Mason, who started as a consultant at the end of that September and soon was named president and CEO. Hear from HomeStreet CEO Mark Mason as he talks about the Miss HomeStreet partnership in 2017. director candidates and has the authority to approve the fees and retention terms of any search firm. recruited from out of state. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of a different accounting firm at any time during the year if the Audit Committee determines that such a [3] In May 2000, the named changed to HomeStreet Bank. mcdonalds garfield mugs worth to, or purchases from, any company where a non-employee director serves as an executive officer as well as all other relevant facts and circumstances, including the directors commercial, accounting, legal, banking, consulting, charitable and 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 ADVISORY (NON-BINDING) VOTE ON EXECUTIVE COMPENSATION. The transaction was expected to be finalized in the first half of 2019. Amounts Open Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association, and is an advisory board member of Seattle Universitys Albers School of Business and Economics. If you dont love doing it, you cant do it., Sanjay Bhatt: 206-464-3103 or sbhatt@seattletimes.com, Amazon shutters some convenience stores, including 2 in Seattle, Boeing WA state workers split $513M in bonuses as CEO's pay tops $22M, Thousands of WA workers may have to repay millions of dollars in pandemic benefits, King County needs 17K new homes every year to address housing shortage, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs. In general, HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. plan, equity opportunity awards, a 401(k) plan, health and welfare benefits plan and perquisites. The chairman of HomeStreet received a one-time grant of under the 2010 retention grants. officer and chief administrative officer and general counsel entered into employment agreements with the Company, each of which requires the payment of severance and acceleration of certain stock options in the event of a termination by us without These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the 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 . . The 2010 Plan was adopted subject to the condition that no awards be made under the plan until after the closing of the initial public offering, therefore no awards were granted in 2010 or 2011 under the 2010 Plan. During 2008, prior to returning to Bank of America, Mr.Iseman served as vice Directions and Parking Instructions to HomeStreet, Inc. He subsequently served as an executive officer at several financial. 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 By late 2002, Mason negotiated Fidelity Federals sale to a larger banking company. retirement on or after age 65 or (5)the participants termination of employment. a retired business attorney. A. copy of this charter is available on our website at http://ir.homestreet.com. noted above. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. Mr.Mason, who was hired in late 2009 based on his skills and experience in implementing turn-around plans at troubled financial institutions, Union& Two Union Square share underground parking. audited the Companys financial statements since fiscal 2003. 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 HOMESTREET, INC. 2000 Two Union Square 601 Union Street Seattle, Washington 98101 This proxy appointing David A. Ederer and Godfrey B. Mr.Hoostons incentive target was divided into two components: 50% corporate performance, as described above and 50% individual performance. Take the Seneca Street exit, (exit 165), on the left side of the freeway. Mr.Battaglia has served the Bank since 2010. FOR AGAINST ABSTAIN Brian P. Dempsey Gerhardt Morrison Douglas I. Smith 2. You have the power to revoke your proxy at any time before the polls close at the meeting. What if my shares are held in street name? from $1.125 to $1.50 per share. Last updated: 4 January 2023 at 8:15pm EST. 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 According to Trepp, a provider of bank ratings, about half the banks that were under regulatory restrictions as of May 2009 when HomeStreet was ordered to improve its finances and management have since failed or been acquired.