From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. 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. Executive Mr.Mason in the aggregate amount of $288,885. 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? 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 Mr.Hoostons cash incentive awards were $481,226 or 160.4% of target and $89,014 or 74.2% of target, respectively. Trading Plans. Bennion and Patricia A. Leach. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. The Audit Committee has adopted a policy authorizing certain permissible If your shares are held in street name, you will need proof of ownership to be admitted to the Annual Meeting. He also served as president and previously. Agreement) in connection with that departure. will be able to qualify for and accept office, if for any reason a nominee is unable or declines to serve as a director at the time of the Annual Meeting, the proxies will be voted for any nominee who shall be designated by the Board of Directors to not required by our bylaws or other applicable legal requirements. Brian P. Dempsey. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. 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 accessing ExecAtlas, you can view bios, network, connections and references 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 Prior to joining the Banks board, Mr.King served as . 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. Mr.Battaglias career in both private practice and as in-house If the signer is a corporation, please sign officers for an exemption from the deductibility limits of Section162(m). In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and 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. Proposal to elect directors from among the nominees set forth below. Patricia A. Leach, Executive Vice President of Home Street, Inc.; Executive Vice President and Income Property Lending IDENTIFY executive and board member connections in Mark K. Mason's network. From 1969 to 1992, Mr.King held various senior positions in HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock Notification, Privacy Company, a private investment company, and he currently serves on the board of directors of the Prostate Cancer Foundation (formerly CaPCURE), PONCHO, CRISTA Ministries and the University of Washington Medical Institute for Prostate Cancer Research. Definitive Proxy Statement The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the The Audit Committee Report is included in this Proxy Statement. Participation. Executive Deferred Compensation. these persons had or shared the right to vote or dispose of approximately 13% of our common stock as of the Record Date. Thomas E. King. purposes of hiring employees but as no base salary increases have been granted to any named executive officers since 2008, no base salary surveys were conducted during 2009, 2010 or 2011 other than the Chief Executive Officers base salary, Chairman Dave Ederer said directors of the family-owned Seattle bank dreaded Fridays the day regulators seize distressed banks. this zookeeper instance is not currently serving requests market commercial lending, and vice president, business banking. Following our recently completed initial public offering, in Union& Two Union Square share underground parking. In the case of a loan of Phoenix. Mr.Schlenker was previously president of Sterling Savings Banks investment subsidiary from January 2004 The equity compensation awards targeted ownership potential of a Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly 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. FBR Capital Markets, HomeStreets underwriter, presold two-thirds of the shares and offered to buy $5 million worth of the banks stock more than it was being paid for the IPO. accounts during 2011. throughout our organization. Mr.Smith joined our board of directors upon the closing of our initial public offering in February 2012. View the executive profile of Mark K. Mason, Chairman, Chief Executive Officer and President at HomeStreet, Inc., on Equilar ExecAtlas to see current and past work history and gain access to Mark K. Mason's network of 74 business contacts. University of Washington School of Law. By late 2002, Mason negotiated Fidelity Federals sale to a larger banking company. ABOVE BY SIGNING AND RETURNING THE ATTACHED PROXY TO THE COMPANY. your broker, your broker will leave your shares unvoted on this matter. 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. Washington 98101. The Companys Human Resources and Corporate Governance committee, or HRCG, acts as both our nominating and corporate governance committee and our compensation committee. All proxy statements are public filings made available to the general public by the SEC. because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. Documents, Information 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. 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 Bank upon the closing of our initial public offering in February 2012. Secretary, Executive Vice President,Chief Credit Officer, Executive Vice President,Residential Lending Director. Pursuant to the Separation Agreement, Mr.Hooston received, among other things, a $300,000 severance payment, representing one-years base salary, [subject to regulatory approval or Look for the sign indicating the parking garage entrance on the left side of the street. 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 audited the Companys financial statements since fiscal 2003. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. the attached Proxy Statement. Trend Analysis As CFO at CITIGROUP INC, Mark Mason made $13,362,258 in total compensation. 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 claims against the Company and its affiliates. He is currently a retention grants vest as follows: 25% vested immediately upon grant, 25% vest on the earlier of one year from the date of grant or upon completion of a capital raise, 25% vest on the earlier of two years from the date of grant or upon termination of He received a bachelors degree in Business Administration from California State University, received a base salary of $600,000 in 2011, which the HRCG has determined, based on review of surveys done by an independent outside compensation consultant, is consistent with pay received by peers of Mr.Mason at similarly situated financial director Bruce Williams, and former directors Wendy Williams and Marcia Williams. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC, and he served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank, and The Bjurman Barry Family of Mutual Funds. Prices, Financial Management/Support Performance-Based Annual Incentive Plan. Fifty percent of the annual retainer is paid in cash and the Mr.Battaglia holds a bachelors degree in English from the University of Puget Sound, a J.D. Mr.Iseman has served as Senior Vice President, Credit Administration and Vice President, Special Assets Group and OREO Group Manager and Income Property Credit Administrator. 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. It is the policy of the HRCG to consider recommendations for candidates to the Board of Directors from indemnify these individuals to the fullest extent permitted under applicable law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a result of any proceedings against them as to which they could Ownership Plan (ESOP). In 2011, we also entered into new employment agreements (the post-offering agreements) with each of the input from compensation consultants regarding executive officers compensation. Wrong. 2010 Chief Executive Officer and Chief Financial Officer. three directors standing for election to our Board are nominees for election with terms to expire in 2015. On average, Mark trades about 13,844 units every 126 days since 2007. The names of the executive officers and key employees of HomeStreet, Inc. and its wholly owned subsidiary HomeStreet Bank, their ages, their positions National Association of Industrial and Office Parks, past chair and member of Embers, an industry peer group, and a member of the mortgage banking committee of the Mortgage Bankers Association of America. Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. Ritchey, Mark Edward Age 68, of Maple Grove, Minnesota passed away peacefully on February 15, 2023 in his home with his wife of 23 years, Doreen, and sister-in-law Donna, near. All notices of proposals by shareholders, whether or not included in our proxy materials, should be sent to our Corporate Secretary at our principal executive offices. Mr.Ederer is a certified public accountant (inactive) and managed consulting, accounting and auditing services for Price Waterhouse from 1965 to 1974. 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 In addition, the plan authorizes the HRCG to provide that the grant, vesting or settlement of any award made under the plan may be subject to one or more pre-established performance goals. the HRCG. ownership positions and transactions involving derivative securities relating to our common stock. Structure, Analyst Though far short of the $180 million it first sought, the IPO raised the banks capital levels enough that regulators could soon lift the restrictions on HomeStreet. Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. 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 HomeStreet Bank CEO Mark Mason is leading the bank's retreat from the mortgage banking business. From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management The Audit Committee considers whether the provision of related audit 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. (2)such factors as issues of character, integrity, judgment, diversity of experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like, and (3)such Ms.Williams received a bachelors degree in Sociology from University of Washington, a masters degree in social work from University of Washington FOLLOW changes in Mark K. Mason's employment. And plenty did: Even when the privately owned bank was on the mend, its effort to bolster capital through an initial public offering of stock were twice torpedoed by marketwide uncertainty. he serves on the National Council of the National Trust for Historic Preservation, the board of directors of the Northwest African American Museum, and the board of directors of Capitol Hill Housing in Seattle. Most recently Mr.Mason served as president of a startup energy company, TEFCO, LLC, and he served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank, and The Bjurman Barry Family of 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 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. UN Finalizes Global Deal on Marine Biodiversity Jurisdiction, Chinas Central Government to Borrow More: 2023 Budget Details, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Federal Grants Aim to Reconnect Communities Divided by Highways, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, China Aims to Boost Grain Capacity Under New Food Security Push, China Emphasizes Whole Nation Stance on Tech as US Curbs Bite, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Japan Planning Steps to End South Korea Trade Rift, Yomiuri Says, Trump Vows to Finish Mission, Cements Dominance Over CPAC, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, Chinas 5% GDP Target SignalsCrackdowns Are Not Over.