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. Prior to his current position and since joining the Company in 2009, Charles Schwab Trust 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. In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. The companys 2011 annual report is due to federal regulators at the end of this month. independent directors as that term is defined in the listing standards of Nasdaq. 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 David Westin speaks with top names in finance about the week's biggest issues on Wall Street. shareholders are entitled to vote, on an advisory or non-binding basis, on the compensation of our named executive officers as disclosed in accordance with the SECs rules in the Executive Compensation section of this Proxy Paul J. Battaglia, Senior Vice President, Credit Counsel of the Bank. served as Thunderbird District Finance Chair with the Boy Scouts of America; United Way Committee Chair for Klamath 1st Bank; member of Tenant in Common Association and member of Klamath Falls, Oregon and Spokane, Washington Chambers of Commerce. Washington Roundtable and the Seattle Chamber of Commerce and on the International Advisory Board of the Seattle Public Schools. Annual Meeting, Date, Time, The HRCG granted stock option awards Request, Email WHERE NO SPECIFICATION IS MADE, SAID SHARES SHALL BE VOTED FOR PROPOSALS 1, 2 AND 4 AND FOR THE 3 YEARS OPTION ON PROPOSAL 3. makes loans to directors, executive officers and other affiliates in compliance with RegulationO issued by the Federal Reserve. We asked food giants for the names of processing companies that supply meat for their frozen pizzas, canned soup, and hot dogs. 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.). Therefore, no specific target and maximum award opportunities were defined for 2011 and no awards were earned for 2011 performance results. The participant has a limited ability to change these elections. The estimated Net Worth of Mark K Mason is at least $6.8 Million dollars as of 1 January 2023. complex from the freeway on-ramp). mcdonalds garfield mugs worth directed trustee votes the shares of our common stock as a bloc, as directed by the Plan fiduciary. Proposal to elect directors from among the nominees set forth below. Every Friday afternoon, we would all be on pins and needles. from the University of Washington. Annual A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. The Company is paying all such costs. with the shareholders interests. The remaining named executives received cash Mark K. Mason is the Chairman of the Board, President, Chief Executive Officer of the Company. Mark Mason Net Worth (2023) | wallmine A base salary is provided to HomeStreet executives to pay for the basic cast will be elected. More specifically: In order to address the impact of the economic downturn, in the fall of 2009 the Bank hired a new Chief Executive Officer and Chief Financial Officer Washington 98101. approximately one-third of our total number of directors to be elected annually, an arrangement commonly known as a staggered board. As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices The information KPMG LLP has initial public offering. full corporate name by duly authorized officer, giving full title as such. In particular, the Chief Executive Officer provides recommendations relating to other executive officers; however, after the HRCG reviews and discusses the The Bank surveys Company and Bank directors and senior and executive officers each All 2010 retention grants will become vested and exercisable immediately upon a change of control of HomeStreet, Inc., as appropriate on matters that involve specific areas of risk that each Committee oversees. for the relevant quarter. At HomeStreet Bank, we're driven to enrich the lives of our customers and communities through . During 2008, prior to returning to Bank of America, Mr.Iseman served as vice separately for their services as directors. Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. business unit executive officers. 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 We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation and each committee member earns an additional fee of $500 per committee meeting (other than for telephonic committee meetings less than two hours in duration, for which the fee is $250). comply with these guidelines such as: We have designed incentives tied to short-term revenue and profits with elements that include qualitative components such as credit quality, and we While we have not established specific minimum qualifications for director candidates, we believe that candidates and nominees must reflect a Board The names of the executive officers and key employees of HomeStreet, Inc. and its wholly owned subsidiary HomeStreet Bank, their ages, their positions the following is a description of each transaction since January1, 2008, and each proposed transaction in which: the amount involved exceeds or will exceed $120,000; and. Mr.Boggs started his career as a certified public accountant with Deloitte, Haskins& Sells from 1977 to 1985, In the case of a loan In addition, on November29, 2010, other of our executive officers received 2010 retention grants with an exercise price ranging It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. specific item of compensation or any specific named executive officer, but rather the overall compensation of all of our named executive officers and our compensation philosophy, policies and practices that are described in this Proxy Statement. Section162(m) places a $1.0 People are worried about the taint of another unsuccessful offer on the companys reputation, he said. American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that this zookeeper instance is not currently serving requests. the Company, providing fair compensation to employees and attracting and retaining management and other employees whom we believe to be capable of addressing the regulatory and business challenges that have confronted and, in most cases, continue to 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. membership and parking. Mr.Bennion is the past director of the Homebuilders Association of Tacoma-Pierce County, the past director and president of Puget Sound Mortgage Lenders Association and Washington Mortgage Lenders Association. Sign up in seconds, it's free! 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. 401(k) Plan contributions and may be eligible to receive a discretionary matching contribution. How long will each of the directors elected at the Annual Meeting continue to serve? The Audit Committee Report is included in this Proxy Statement. participants eligible compensation if certain IRS limitations on compensation and benefits did not apply. 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 can we initialize static variable in constructor in java (Continued and to be signed on the reverse side.) All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. Chairman and Pres & CEO of HomeStreet Inc since . The Sarbanes-Oxley Act of 2002 requires the Audit Committee to be directly responsible for the Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. 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. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. Participants in the ESOP Our Board is divided into classes of directors, with each class serving a three-year term. After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. [6], In 2018 the bank won a court case following its attempt to stop a hedge fund placing its own candidates on the board. Repertory Theatre. It turned out there were four times as many orders for shares than shares available. independence. Directors Scott Prior to working at HomeStreet, Mr. Williams served for two years in the U.S. Peace Corps as a college professor in Liberia. Ms. For inclusion in HomeStreets proxy materials: Shareholders may present proper proposals for inclusion in HomeStreets Mr. Bennions incentive target was three president, human resource director for MetLife Capital Corporation from 1986 to 1998. places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). Pursuant to The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. We believe stock ownership by our executive officers helps align the interests of our executive officers OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED Mr.Mason received a cash incentive payment of provide our named executive officers with benefits that we believe are reasonable and consistent with our overall compensation program and beneficial to the Company in attracting and retaining qualified executives. Paulette Lemon, Senior Vice President, Retail Banking Director of the Bank. The HRCG oversees management of risks relating to the Companys compensation plans and programs. Administrative Officer with the goal of providing stability to the Company and retaining the leadership, talent, skills, expertise and experience that they provide to us as they implement our turnaround plan. All We suspended this plan in 2008 due to HomeStreets financial condition and as a result none of our named executive officers were meeting or submitting written notice of your revocation to our Corporate Secretary, Godfrey B. Evans, at our mailing address on the cover page of this Proxy Statement, or b) voting in person at the meeting. What happens if I sign and return my proxy card, but dont mark my votes? Mr.Mason in the aggregate amount of $288,885. What percentage of stock do the directors and executive officers own? date of the notice of the meeting in order to be timely. Most recently he exercised 6,435 units of HMST stock worth $160,167 on 1 January 2023. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. [3] In May 2000, the named changed to HomeStreet Bank. These loans are made in the ordinary course of business on substantially the same terms, including interest rates Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. institutions. Financial. Patti Payne: Top leaders share lessons learned from a most challenging stock options, stock appreciation rights (SARs), restricted stock awards, restricted stock units, stock bonus awards and cash incentive bonus awards. These The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Prior to his current position with the for Recommending Candidates for Election to the Board of Directors. your shares will be voted as you instruct. The Plan is administered by the Plan fiduciary, which is a committee appointed by HomeStreet, Inc.s 1. Mary L. Vincent, Senior Vice President, Risk& Regulatory Oversight Director of the Bank. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. additional grants of restricted stock awards and stock options awards, which awards were conditioned upon the successful completion of our initial public offering. Subsequently, We design our compensation programs and make individual pay decisions and adjustments in the context of this philosophy. initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. 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 approved a one-time grant of nonqualified stock option awards that were made outside of the 2010 Plan. Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. The transaction was expected to be finalized in the first half of 2019. days prior to the one year anniversary of the date on which we mailed our proxy materials to shareholders in connection with the previous years annual meeting of shareholders. All services rendered by and fees paid to KPMG LLP are reported to and monitored quarterly by the Audit Committee. Committee as they review executive compensation for the remainder of this year and future years. 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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. commercial lending and credit administration experience and distressed institution turnaround experience. That was the point where we felt we had someone who was going to guide us through the malaise, Ederer said. such key executives and to recognize their efforts in improving HomeStreets financial and regulatory condition. Officer/General Counsel received 20,000 options. voting when you vote in response to the resolution set forth below: RESOLVED, that the option of once every one year, place until the lifting of a Cease and Desist Order that had been imposed on the Bank by the Federal Deposit Insurance Corporation and Washington Department of Financial Institutions, which we refer to as the Bank Order. The Bank Order [11], "Continental, Inc." redirects here. It was a big credibility issue for them as well.. 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. directors and consultants and to provide a means whereby officers, employees, directors and consultants can acquire common stock or earn incentive compensation based on the value of our common stock, thereby strengthening their commitment to The numbers represented in the table above reflect a 2-for-1 forward split of our common stock effective on March6, 2012. or any of the three previous years or has had any relationships or participated in any related party transactions that qualify as interlocking or cross-board memberships that are required to be disclosed under the rules of the SEC. Definitive Proxy Statement Susan C. Greenwald, Senior Vice President, Single Family participants in this plan for the year ended December31, 2011. department and/or individual performance will be based on the department and/or plan participants individual success as measured against the predetermined goals. In addition, any options exercisable within 60 days of April2, 2012 retention grant, by the number of shares of our common stock as measured immediately after the completion of the initial public offering, and subtracting from that result the number of shares represented by the executives 2010 retention grant. WEST parking in the vicinity of a One Union Square elevator will be closer to the Hilton.). But Mason plans to stay until he retires, he said. it mean if I get more than one proxy card? please cross through the name of the relevant nominee and clearly print the name of your proposed director alongside the stricken candidate. 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. The HomeStreet IPO appears to be the first time since at least the 2008 crisis that a troubled bank has recapitalized through an IPO instead of being sold. designated executive officers to defer annually all or part of their incentive bonus and to receive an employer contribution equal to the additional employer contributions, if any, that would have been made to the 40l(k) Plan and ESOP based on When the bank announced plans last May to sell stock to the public for the first time, the economy appeared to be on the rebound and pundits dismissed talk of a double-dip recession. Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. In 2004, we adopted a deferred compensation plan which allows 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 The 2010 equity incentive plan was not effective for 2011. But when the board met Mason, Ederer said, they felt confident. In 2010 and early Employer ESOP contributions are determined based on the attainment of goals for overall 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. protecting proprietary information and proper use of assets. Mr.Malone is the retired chairman and chief executive officer of AEI/DMX Music, a company he founded in 1971 Mr.Malone serves on the Seattle Police Foundation, having been a founding member and past chairman. Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. The SEC maintains a website located at www.sec.gov that also contains this information. Please contact our investor relations department by calling 206-264-4200, by writing to HomeStreet, Inc., attn. In setting the base salaries for our Chief Executive Officer and Chief The Board of Directors believes the proposals are in the best interests of HomeStreet and its shareholders Mark K Mason is Chairman/President/CEO at Homestreet Inc. See Mark K Mason's compensation, career history, education, & memberships. 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. With the exception of In general, certain performance-based compensation approved by shareholders is not subject to this deduction limit. marketing assistant and has served in a number of lending-related management roles. In the event that this selection HomeStreet is a good example where it makes a lot more sense to bring someone like Mark in to revive the place rather than watch the thing deteriorate until it has to be sold off, said Rick Riccobono, director of banks for the state Department of Financial Institutions. The first-quarter report is due in April. Secretary, Executive Vice President,Chief Credit Officer, Executive Vice President,Residential Lending Director. Judd Kirk. The 2010 retention grants will terminate on the tenth anniversary of the date of grant if they have not been exercised in full before that time. 2019-2020 voted Best Bank by Money Magazine for the 3rd year in a row! The annual incentive awards granted under this plan provide for payments based upon attainment of specified goals that are intended to align the interests of employees with the interests of HomeStreet.
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