Interest earned on participant deferrals is equal to the average five year daily treasury rate for the quarter. presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who In connection with a In addition, we suspended our employer matching contribution under our 401(k) plan from July 2009 to July 2010. 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. In consideration of these and other benefits, Mr.Hooston provided a general release of 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 Chairman, Chief Executive Officer and President Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon 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. Mr.Indiek joined the Board of Directors of HomeStreet, Inc.and the initial public offering. awards total approximately 5.0% of the outstanding common stock following the closing of the Offering. As a result, the Notice Period for the 2013 annual meeting of Mark K. Mason, Director, Chairman, Chief Executive Officer and President of HomeStreet, Inc. Mr. Mason has been the Companys Chief Executive Officer and HomeStreet Banks Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. Prior to his current position with the What is the voting requirement to approve each of the proposals? 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 Corporate performance for these executives was based on achievement of We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that By 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 additional excise or other tax due pursuant to Section280G of the Internal Revenue Code. unvested at the time of his separation and therefore were forfeit on March 31, 2012. You may also find the annual proxy statement by going directly to the company's website. In setting the base salaries for our Chief Executive Officer and Chief As of the record date, 7,162,606.8 shares of our common stock were issued, outstanding and entitled to vote at the Annual Meeting. In 2011, the Companys board of directors met 22times. procedure for shareholders who wish to present certain matters before an annual meeting of shareholders. No employee contributions were made to employee ESOP The Company is paying all such costs. The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. KPMG LLP has 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. under the 2010 retention grants. Perquisites and other Personal Benefits. 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 in Business Administration from the University of Washington. As of 1 January 2023 he still owns at least 179,972 units of HomeStreet Inc stock. 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 Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. incentive bonus awards. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. 401(k) Plan contributions and may be eligible to receive a discretionary matching contribution. The first-quarter report is due in April. A majority of the Ownership, Proxy of such principles; administer our equity incentive plans, pursuant to the authority delegated to it by our Board of Directors; set the corporate goals and objectives, if any, relevant to our executive officers compensation and evaluate our executive officers Kathleen A. Kanealii, Senior Vice President, Business Banking Director of Thank you for your ongoing support of and continued interest in HomeStreet, Inc. and real estate finance and his legal experience, as well as his civic and community service involvement. We use employment agreements with our named executive officers to retain those key executives and the talent, skills, experience and expertise that Annual Meeting, Date, Time, If a shareholder who has notified the Company of his or her intention levels. Since 1974 Mr.Ederer has served as the chairman of Ederer Investment manager of commercial special assets with Bank of America between 2008 and 2009 and as vice president and client manager with Bank of America from 2000 to 2007. Although HomeStreet does not have a formal policy regarding attendance by members of the Board of Directors at our annual meeting of 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 Mr.Mason, who was hired in late 2009 based on his skills and experience in implementing turn-around plans at troubled financial institutions, What happens if I sign and return my proxy card, but dont mark my votes? Susan C. Greenwald, Senior Vice President, Single Family contracted executives that became effective upon the lifting of the Bank Order on March26, 2012 (except for Mr. Hoostons agreement, which was superseded by the Separation Agreement. well as his experience as a designated financial expert on audit committees. Mark K Mason is Chairman/President/CEO at Homestreet Inc. See Mark K Mason's compensation, career history, education, & memberships. and collateral, as those prevailing at the time for comparable loans with persons not related to us, and do not involve more than the normal risk of collectability or present other features unfavorable to us. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. As the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc, the total compensation of Mark Mason at HomeStreet Inc is $1,714,120. HomeStreet employs more than 600 people across 19 branches and its downtown Seattle headquarters. 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. executives and senior managers in 2010. 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. Regulation O generally defines a principal shareholder as a person that directly 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. bring back the old canadian flag - Newventureltd.com Charles Schwab Trust Human Resources and Corporate Governance Committee. Certain members of senior management, including the Chief Executive Officer, Chief Human Resources Officer, General Counsel and Risk and Regulatory Oversight Director regularly Insider Trading Policy and Rule 10b5-1 Named Executive Officers. University of Washington School of Law. Mr.Indiek was also involved in the formation of which was reviewed in November 2011. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. shareholders will start on December28, 2012 and end on January27, 2013. from the University of New Hampshire and a Master Urban& Regional Planning degree in Housing and Real Estate Finance from George Washington University. Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the conversion of a security, (3)the power to revoke a trust, discretionary account or similar arrangement or (4)the automatic termination of a trust, discretionary account or similar arrangement. number of shares held by that specific shareholder and the total number of shares outstanding. See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. from the record holder of your shares is an example of proof of ownership. 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. Are you Mark K. Mason? Each of these options had an exercise price of $1.50 per share. If signer is a partnership, please sign in partnership name by authorized person. principal financial officer and principal accounting officer. The stock options vest ratably in thirds over each of the first three anniversaries of the completion of the offering, while the The HRCG typically considers several factors when setting the base Institute of Seattle. The HRCG reviewed the McLagan report and took it into consideration in determining its 2011 incentive plan arrangements for the entire organization. This vote is not intended to address any Mr.Malone was selected to serve as a director because of his experience as a public company director and committee member and his business experience and training. proven expertise and managerial talent. No equity grants were made in 2011 to any of our named executive officers. A recent brokerage statement or a letter It was a big credibility issue for them as well.. Mr.Malone holds a Following the closing of our initial public offering in February 2012 and the & Directors, Committee Who can help answer any other questions I may have? Executive officers, directors and greater than ten percent shareholders are University of Washington and is a graduate of the Pacific Coast Banking School. #H1Rewind Who's "the best team in racing"? Our Articles of Incorporation provide that our directors will serve a term of three years or until their respective successors are 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 In 2010, the HRCG has served as Senior Vice President, Retail Banking Director and as Vice President, Retail Bank Operations Manager prior to 2001. While we expect that all of the nominees 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 May 23, 2012, in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101 in order to consider and vote upon the following proposals: 1. In 2000, he was promoted to president and chief operating with the SEC are also available on HomeStreets website at http://ir.homestreet.com after the reports are filed with the SEC. may direct the Plan trustee as to how to vote their shares of our common stock in their ESOP stock accounts with regard to approval or disapproval of any of the following events: (1)corporate merger of HomeStreet, Inc., But when the board met Mason, Ederer said, they felt confident. salaries of each named executive officer. : Investor Relations, 2000 also the Certain Relationships and Related Transactions section in this Proxy Statement. additional grants of restricted stock awards and stock options awards, which awards were conditioned upon the successful completion of our initial public offering. This plan reserves for issuance awards of up to 84,000shares of our common stock in order to provide for compensation to directors for one-half of the annual board compensation as described above. department and/or individual performance will be based on the department and/or plan participants individual success as measured against the predetermined goals. as your name or names appear on this Proxy. Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101 Your Vote is Important to the Company! Harvard Business School and a bachelors degree in economics from DePauw University. take you up to the Hilton Lobby. Mr.Masons the advisory vote on executive compensation that has been selected by our shareholders. We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding Adjusted Operating Income at a target of $43.3 million. The following is a summary of certain key points of our 2011 executive compensation In order to We adopted a broad-based, non-discretionary severance plan following approval by our Mark was preceded . The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Look for overhead signs in the garage directing you to WEST or One Union Square elevators. The following table presents fees billed for professional audit services and other services rendered to HomeStreet by KPMG LLP for the In the event that this selection 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. for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. Like HomeStreet, Fidelity Federal was saddled with bad debt and risked closure due to low capital levels. These grants were allocated 25% to Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. In addition, any options exercisable within 60 days of April2, 2012 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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 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. undersigned at such meeting with respect to the election of directors of HomeStreet, Inc., for a term ending at the annual meeting of shareholders in 2015 or upon the due election and qualification of successors, in each case at any time, and for The meeting will be held in the Winward Room on the lobby level of the Hilton. Together Patti Payne: Top leaders share lessons learned from a most challenging mcdonalds garfield mugs worth Washington Roundtable and the Seattle Chamber of Commerce and on the International Advisory Board of the Seattle Public Schools. Because the Bank Order was terminated in March 2012 and replaced with an informal memorandum of understanding, these options are now vested as to 75% of the stock The Audit Committee Report is included in this Proxy Statement. 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 If the signer is a corporation, please sign Employee directors do not receive compensation for serving on either board of directors. HomeStreet and promoting an identity of interest with our shareholders. It changed its name to Continental Savings Bank in 1986. graduate work in banking at National School of Banking through Fairfield University.
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