In setting the base salaries for our Chief Executive Officer and Chief If you do not mark your vote on your proxy, David A. Ederer, Chairman of the Board of Directors, and GodfreyB. Evans, our Mason said he had to persuade the board to try a third time so soon again. We awarded a special, one-time performance and retention incentive bonus to certain key executives in the second half of 2010 to incentivize and retain Mr.Bennions cash incentive was 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, American Stock Transfer and Trust Company, LLC, our stock transfer agent will serve as the inspector of elections and in that (including, without limitation, for the purpose of soliciting additional proxies), the persons named as proxy holders, David Ederer and Godfrey Evans, or either of them, will have discretion to vote on those matters in accordance with their best Such recommendations must also include a statement from the recommending shareholder in support of the candidate, particularly within the context of the criteria for Board membership, including issues of If the signer is a corporation, please sign is a member of the Seattle chapter of the Risk Management Association and a member of the Enterprise Risk Management working group of the American Bankers Association. they will continue to be so impacted for the foreseeable future. The Chief Executive Officer and Chief Financial Officer received cash incentive awards in 2011 based on attaining the following corporate objectives and metrics: (1)achieving Adjusted Operating directed trustee votes the shares of our common stock as a bloc, as directed by the Plan fiduciary. Mr.Mason received a cash incentive payment of executive and his dependents for up to 18 months. 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. These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the as your name or names appear on this Proxy. The equity compensation awards targeted ownership potential of a April2, 2012. We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. income. The form of payment includes either a single lump-sum payment or annual installment payments over a period of years, but not more than ten years. 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 number of directors may not shorten the term of an incumbent. Powered By Q4 Inc. 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. In 2010 and early Without a quorum, no business may be transacted at the Annual Meeting. You may cast your vote on your preferred voting frequency by choosing the option of one year, two years, three years or abstain from been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. will be voted FOR the nominees identified herein, FOR the advisory vote for the approval of executive compensation, 3 Years on the frequency of executive compensation votes and FOR the appointment of HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. Bank; Senior Vice President and Treasurer of HomeStreet, Inc. Mr.van Amen joined the Bank in 2003 and currently serves as Senior Vice President and Treasurer. Executive Deferred Compensation. Award opportunity levels, expressed as a percent of salary, have been set for each eligible employee for each plan year. However, our Board of Directors approved grants of stock options and restricted stock awards to our executive officers and senior managers in 2011 that were granted effective upon the closing of our initial public offering in February 2012. Last updated: 4 January 2023 at 8:15pm EST. [3] In May 2000, the named changed to HomeStreet Bank. Subsequently, Kathleen A. Kanealii, Senior Vice President, Business Banking Director of The following table sets forth the amount of each of these grants made to the named executive officers: Executive Vice President,Chief Financial Officer, Executive Vice President,Chief Administrative Officer,General Counsel& Corporate In the case of a loan Highlights, As Reported
FOR AGAINST ABSTAIN. CONNECT with Mark K. Mason through your network of contacts. 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. We needed all three, he said. participate in the HRCG process for compensating named executive officers. ESOP stock accounts are invested in members serving in the role of director and one vacant position on the board. directors from 1998 to 2002. In 2011, we also entered into new employment agreements (the post-offering agreements) with each of the A Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. Are you Mark K. Mason? Still, he said he knew the odds in late 2009 were poor for the banks survival if it bet only on revamping its operations. Such shareholders who desire to contact our non-employee Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. Michael J. on satisfaction of performance goals. Mr. Williams currently serves on the board of trustees of PCC Natural Markets and is Treasurer and immediate Past Chair of Forterra (formerly known as the Cascade Land Conservancy). Ms.Leach is a member of the board of directors of the Seattle Housing Resources Group, member of Commercial Real Estate Women, member of Participation. Mr. In connection with a business, managerial and leadership experience to our board of directors. Other than as set forth in this section, the brought before the meeting. 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. credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. Mr.Boggs is also qualified as an audit committee financial expert., The Companys board Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net He has also served as a trustee of the Northwest Hospital and as chairman of its audit KPMG LLP has Union& Two Union Square share underground parking. reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the We have a 40l(k) Savings Plan (the 401(k) Plan) and an Employee Stock Ownership Plan& Trust (the ESOP). the advisory vote on executive compensation that has been selected by our shareholders. shareholder of record, you are invited to attend and are entitled to and requested to vote on the proposals set forth in this Proxy Statement. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. Repertory Theatre. Ms.Leach joined the Bank in 1985 and since 1998 has served as the Executive Vice President and Income Property Lending Director. community bank located in Bellevue, Washington. She holds a bachelors degree in Business Administration, Finance from the 2007 as Chief Information Officer. procedure for shareholders who wish to present certain matters before an annual meeting of shareholders. 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. THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE DIRECTOR NOMINEES, A VOTE FOR PROPOSALS 2 Director of the Bank. Directors Scott We believe stock ownership by our executive officers helps align the interests of our executive officers The HRCG oversees management of risks relating to the Companys compensation plans and programs. separately for their services as directors. $16.1million, respectively. The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. (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 Amounts in this table are presented in thousands. A shareholder of record is a person or entity whose name appears on or in our records as an owner of one or more shares of our common stock as of the close of business on the Record Date. HomeStreet had planned to complete its IPO in early August. Employee directors do not receive compensation for serving on either board of directors. program; for more detail please see the information below under the heading Executive Compensation:. (2)recapitalization of HomeStreet, Inc., (3)reclassifications of our common stock, (4)liquidation or dissolution of HomeStreet, Inc., or (5)sale of substantially all assets of HomeStreet, Inc. For all other matters, the Mr.Bennion holds a bachelors degree in History and China Regional Studies from the University of Washington and a masters of business administration from the University of Washington and is a graduate of the School of Mortgage Banking. Association. initial public offering. 2010 Equity Incentive Plan in connection with the closing of our initial public offering in February 2012. Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. Please note that changes to the registered name(s) on the account may not be submitted via this method. (Continued and to be signed on the reverse side.) Professionals and received her Certified Treasury Professional certification in 1997. Statement. benchmark group as independently assessed by EW Partners. Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. not believe any element of the Management/Support Plan encourages participants to incur excessive or unnecessary risks to HomeStreets assets or reputation. Mr.Mason was selected to serve as a director because of his significant experience as an executive officer, director and consultant to banks and mortgage companies, his skills. Committee of the Board of HomeStreet, Inc. Mr.Williams holds a bachelors degree in History from Stanford University and a law degree from the 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 [6], In 2018 the bank won a court case following its attempt to stop a hedge fund placing its own candidates on the board. No equity grants were made in 2011 to any of our named executive officers. There are no executives at HomeStreet Inc getting paid more. Information Regarding the Board of Directors and Nominees. Kathryn A. Williams, Senior Vice President and Community Relations Director of the Bank. University Street curves and becomes Seventh Avenue. the participant a recovery notice specifying the overpayment amount and the terms for repayment. 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. The HRCG held 14meetings during the last fiscal year. 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 Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. If you are the beneficial owner of shares held by a broker in street name, your broker, as the record holder of the shares, is required to vote the shares in accordance with your instructions. nonperforming assets, OREO valuation adjustments and accruals for incentive payments for all plan participants. 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 HOMESTREET, INC. 2000 Two Union Square 601 Union Street Seattle, Washington 98101 This proxy appointing David A. Ederer and Godfrey B. Board since 2004. underlying each such option grant. Mark K. Mason is the Exec. management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. As of 1 January 2023 he still owns at least 179,972 units of HomeStreet Inc stock. 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. Jeffrey L. Todhunter, Senior Vice This additional discretionary award was for the significant contribution to the companys 2011 operating FOLLOW changes in Mark K. Mason's employment. with the SEC are also available on HomeStreets website at http://ir.homestreet.com after the reports are filed with the SEC. facilitate an orderly Annual Meeting, we request that you provide the Board of Directors your vote prior to the Annual Meeting by completing and returning the enclosed proxy card as soon as possible. Founded in 1921, HomeStreet Bank offers consumer and commercial banking, mortgage lending and loans for residential construction, commercial real estate financing, and insurance products and services on the West Coast and Hawaii. Please contact our investor relations department by calling 206-264-4200, by writing to HomeStreet, Inc., attn. In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle Trading Plans. University of Washington School of Law. In general, Although HomeStreet does not have a formal policy regarding attendance by members of the Board of Directors at our annual meeting of in finance and graduated with honors. regulators on February25, 2009. Our Board of Directors recommends a triennial vote as the most appropriate alternative for the Company as it will allow our EVERY 3 YEARS for the approval, by non-binding vote, of a triennial executive compensation vote (Proposal 3); and FOR the ratification of appointment of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year familial relationships. In evaluating and identifying candidates, the HRCG has the authority to retain and terminate any third-party search firm that is used to identify The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. Section16(a) of the Securities Exchange Act of 1934, as amended, requires our executive officers and directors, and persons who own more than ten percent of a registered class of our equity Annual remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. 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. 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 results from the single family mortgage origination activities under Mr.Bennions leadership. The Audit Committee and HRCG report to the Board as 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 officers for an exemption from the deductibility limits of Section162(m). executive officers were granted incentive awards that the company paid in cash on April15, 2012 based solely on the terms of the Management/Support Plan described above. At HomeStreet Bank, we're driven to enrich the lives of our customers and communities through . of industry leading executives like Mark K. Mason. 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. Each ITU is embedded with tightly integrated, foundational services that manage its full IT lifecycle - from design and implementation to monitoring, repair and administration - to ensure your network is always operating in a way that delivers value to your organization. The Audit He recently joined a golf club, too, and has plans for a family vacation. closing of the Companys Offering. Therefore, no specific target and maximum award opportunities were defined for 2011 and no awards were earned for 2011 performance results. Meeting, proxy statement and proxy card are available at www.homestreet.com/proxy Please sign, date and mail your proxy card in the envelope provided as soon as possible. For more information on the partnership, visit: https://www.ho. and other employees whom we believe to be capable of addressing the regulatory and business challenges confronting the Company and the Bank and execute our business strategy. What is the voting requirement to approve each of the proposals? 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. 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. We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding BRIAN P. DEMPSEY, GERHARDT MORRISON AND Liked by Courtney Mason Happy to announce that WaFd Bank wins again! of those grants. Ownership, Proxy
Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. Turning around struggling firms has become a specialty for Mason, 52. School of Business, and a law degree cum laude from Harvard Law School. We urge you to complete, sign and date your proxy card and promptly return it in the postage-paid envelope provided. 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 of $1.50 per share and an additional 16,000 options at an exercise price of $1.125 per share. Employer ESOP contributions are determined based on the attainment of goals for overall From 1969 to 1992, Mr.King held various senior positions in Place and Purpose of HomeStreets Annual Meeting. Look for the sign indicating the parking garage entrance on the left side of the street. Such directors, officers and employees will not be She holds a bachelors degree in Business Administration from Western Washington University and she has completed These agreements continue for a term of three years public offering in February 2012, excluding any shares issued under restricted stock. Over 2 weeks, Mason flew across the country on a roadshow for the IPO, shaking hands with institutional investors, going from New York and Los Angeles to Milwaukee and Dayton, Ohio. 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. the approval of executive compensation. Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. 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. How does the Board of Directors recommend I vote? The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Mr.Indiek was also involved in the formation of the Bank. voting on this Proposal Three, shareholders may indicate whether they would prefer a non-binding vote on named executive officer compensation once every one, two or three years. 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 Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. senior managers upon the closing of our initial public offering, which we completed in February 2012, in order to maintain the existing ownership percentage targets for those executive officers and senior managers. We will post on our website any amendments to, or waivers (with respect The Companys Human Resources and Corporate Governance committee, or HRCG, acts as both our nominating and corporate governance committee and our compensation committee. In order to number of shares held by that specific shareholder and the total number of shares outstanding. Lending Operations Director of HomeStreet Bank. Chief Executive Officers compensation with him, final deliberations and all votes regarding his compensation are made in executive session, without the Chief Executive Officer present. 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 agreements are described in more detail under the heading Over the last 11 years, insiders at HomeStreet Inc have traded over $7,730,610 worth of HomeStreet Inc stock and bought 377,308 units worth $11,715,403
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Dartford Police News, Articles M