In setting the base salaries for our Chief Executive Officer and Chief with any financial reporting requirements as a result of misconduct, our Chief Executive Officer and Chief Financial Officer must reimburse the Company for: (1)any bonus or other incentive or equity-based compensation received during the brought before the meeting. In order to A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. These jobs require commitment and focus, he said. vote. We paid out amounts earned under the Management/Support Plan We eliminated incentive payments on terms and conditions of the loans from our single family loan officer incentive plans. (One principal financial officer and principal accounting officer. Proxy Statement Pursuant to Section14(a) of the, Filed by the Registrantx Filed by a Party other than the Bank upon the closing of our initial public offering in February 2012. Under these rules, more than one person may HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii.The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. audited the Companys financial statements since fiscal 2003. ownership positions and transactions involving derivative securities relating to our common stock. restricted stock awards vest upon the occurrence of an increase in the price of our common stock in comparison to the initial public offering price of $22 per share: one-third of the restricted stock awards vest upon an increase in our stock price Most recently he exercised 6,435 units of HMST stock worth $160,167 on 1 January 2023. Mr.Morrison was selected to serve as a director independence. additional directors prior to the annual meeting of shareholders at which directors are elected. Ms.Vincent joined the Bank in 1987 and currently serves as Senior Vice President, Risk and 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. 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. Severance and Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. If you wish to give specific instructions with respect to the voting of directors, you may do so by indicating your instructions on your proxy card. These agreements continue for a term of three years That was the point where we felt we had someone who was going to guide us through the malaise, Ederer said. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. In 2011, our named 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. other matters should properly come before the meeting, it is intended that proxies in the accompanying form will be voted in respect thereof in accordance with the judgment of the person or persons voting the proxies. Mr.Schlenker Mr.Ederer was selected to serve as a director because of his experience as a director on public company boards, his experience on board committees, his financial expertise and his Michael J. To ratify the appointment of KPMG as HomeStreet, Inc.s independent registered public accounting firm for the fiscal year ending December31, 2012. 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 May23, 2012, in the Windward Room of the Hilton Hotel, 1301 Effective upon the closing of our initial public offering on February15, 2012 the majority of our then-existing board of directors resigned and certain new directors were appointed to the vacancies. Lemon joined the Bank in 1985 and since 2001 establish and implement our corporate governance practices, nominate individuals for election to the board of directors and evaluate and set compensation with respect to our directors and executive officers, among other things. Annual mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. We design our compensation programs and make individual pay decisions and adjustments in the context of this philosophy. From 1999 until 2001, he also served as a member of the board of directors of the Company, and rejoined the board of directors of Chief Financial Officer, which are discussed below, aggregate base salaries for our named executive officers are established at approximately the median of competitive market data. 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. Godfrey B. Evans, Executive Vice OF KPMGLLP AS HOMESTREETS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 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 Cory D. Stewart, Senior Vice President and Controller of HomeStreet, Inc. and Senior Vice President, Finance The SEC has defined beneficial ownership of a security to mean, generally, the possession, including shared possession, directly or indirectly, of voting power or investment power. Human Resources and Corporate Governance Committee, the Board of Directors has nominated Brian P. Dempsey, Gerhardt Morrison and Douglas I. Smith for re-election as Class I directors. Notification, Privacy Turning around struggling firms has become a specialty for Mason, 52. employees and consultants. Its like triage, Mason said. that is comprised of directors who: (1)are predominantly independent, (2)are of high integrity, (3)have broad, business-related knowledge and experience at the policy-making level in business or technology, including their Beginning in 2009, we imposed a general freeze on salary increases and in 2009, 2010 and 2011 we also suspended contributions to the Employee Stock our executive compensation program was designed appropriately and is working to align the interests of our management team with the interests of our shareholders to support long-term value creation. 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. as part of the 2010 retention grants. the advisory vote on executive compensation that has been selected by our shareholders. All named executive officers are provided with the same 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. was lifted effective March26, 2012. I got married the first time because I was raised Catholic and that's what you were supposed to do. The amounts and percentage of our common stock beneficially owned are reported on the basis of regulations of the SEC governing the The principles underlying our executive In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Executive Compensation below. In addition, any options exercisable within 60 days of April2, 2012 This proxy, when properly executed, will be voted in the manner directed herein by the undersigned shareholder(s), but if no direction is made, this proxy Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. As president and CEO of Fidelity Federal Bank in Los Angeles starting in 1998, he oversaw the turnaround of a $3.7 billion bank. employment arrangements and director compensation required to be disclosed in our Proxy Statements, certain charitable contributions, transactions where all shareholders receive a proportional benefit and transaction entered into through a We believe that our current overall non-employee director The committee also ordinarily reviews recommendations and As we were not publicly traded prior to February10, 2012, the HRCG did not previously take this deductibility limit The notice must contain specified information about the nominees and about the shareholder proposing such nominations. Materials, Financial places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). officer). Mr.King, joined the board of directors of the Bank in 2010 and became a director of HomeStreet, Inc. following the closing of our initial public offering in February 2012. benchmark group as independently assessed by EW Partners. The persons ownership of HomeStreet stock. ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward The current terms of the executive officers will expire at such time as their successors are elected. HomeStreet executives participate in a short-term cash Kathleen A. Kanealii, Senior Vice President, Business Banking Director of Mr.Hoostons incentive target was divided into two components: 50% corporate performance, as described above and 50% individual performance. the Dodd-Frank Wall Street Reform and Consumer Protection Act. PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED The plan 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. (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 We have entered into indemnification agreements with each of the current and former directors and executive officers of HomeStreet, Inc. Subject to certain limitations, these agreements require us to judgment. However, we may authorize compensation payments that do not comply with the exemptions in Section162(m) when we believe that such payments are appropriate to disclosed in the Companys Proxy Statement for the 2012 Annual Meeting of Shareholders pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation outside compensation consultant. comments to management to contact us directly at the address provided on the cover page of this Proxy Statement. Brian P. Dempsey. 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 Mr.Boggs joined the Bank in 2006 as a member of the board of directors and became a director of HomeStreet, Although HomeStreet does not have a formal policy regarding attendance by members of the Board of Directors at our annual meeting of graduate work in banking at National School of Banking through Fairfield University. By 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. Mr.Iseman served as senior vice president and senior portfolio initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. By late 2002, Mason negotiated Fidelity Federals sale to a larger banking company. HomeStreets difficult quest for capital was over. Mr.Hoostons cash incentive awards were $481,226 or 160.4% of target and $89,014 or 74.2% of target, respectively. previously. has served as Senior Vice President, Retail Banking Director and as Vice President, Retail Bank Operations Manager prior to 2001. Richard W.H. Request, Email at 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.
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