by | Jun 10, 2022 | high school indoor practice facility cost | route 3 south massachusetts | Jun 10, 2022 | high school indoor practice facility cost | route 3 south massachusetts The plan provides one week of pay for every year of service with a minimum payment of two weeks and a maximum payment of 24 weeks. Are you Mark K. Mason? they provide to HomeStreet with a goal of protecting the Company and the shareholders and providing the stability and skilled leadership we need in our current environment. our common stock. What proposals The The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the Election of Directors. modification brought HomeStreets severance plan within the definition of a non-discriminatory severance plan, pursuant to 12 C.F.R 359.1(j), for purposes of the FDICs Golden Parachute rules. leave. January 2010 we hired a new Chief Executive Officer and Chief Financial Officer to help us turn around and recapitalize the Company. Summary of 2011 Executive Compensation Program, Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007, and we expect that 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 In May 2000, the named changed to HomeStreet Bank. Committee of the Board of HomeStreet, Inc. It means that you may have multiple stock ownership accounts. Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. Please note that changes to the registered name(s) on the account may not be submitted via this method. benchmark group as independently assessed by EW Partners. HomeStreet, Inc. Mr.Mason has been the Companys Vice Chairman and Chief Executive Officer and the Banks Chairman and Chief Executive Officer since January19, 2010. Filings, Insider A quorum refers to the number of shares that must be represented at a meeting in order to lawfully conduct business. Mr. This philosophy pertains to executive compensation as well as employee compensation at all other levels Mr.Dempsey received a bachelors degree in Business Administration and a masters of business administration from the University of Washington. This vote is not intended to address any Prior to joining Port Blakely Communities, he served as president the Cascade Land Conservancy Advisory Board. principal financial officer and principal accounting officer. shareholder is also deemed to be, as of any date, the beneficial owner of all securities that such shareholder has the right to acquire within 60 days after that date through (1)the exercise of any option, warrant or right, (2)the 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 In addition, we suspended our employer matching contribution under our 401(k) plan from July 2009 to July 2010. Inc. following the closing of our initial public offering in February 2012. The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle Ms.Williams is the sister of Director of the Bank. BRIAN P. DEMPSEY, GERHARDT MORRISON AND The principles underlying our executive 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 We do not currently anticipate that any other matters will be raised at the Annual Meeting. FOLLOW changes in Mark K. Mason's employment. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Mr.Bennion also received a discretionary award of $124,987 for a total award of $300,000. We urge you to complete, sign and date your proxy card and promptly return it in the postage-paid envelope provided. in finance and graduated with honors. number of directors may not shorten the term of an incumbent. Last year, it earned a profit of about $17.6 million. 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. Please refer to the questions and answers section commencing on page2 of the Proxy Statement and the instructions on the proxy card. nominations for the election of directors may be made (1)by or at the direction of the Board of Directors, or (2)by a shareholder who has delivered written notice to HomeStreets Corporate Secretary within the Notice Period (as 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. Computer Science from Park College, Kansas City. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. principles: maintaining accurate and complete records; maintaining integrity of consultants, agents and representatives; and. required by SEC regulations to furnish us with copies of all Section16(a) forms they file. 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 Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. according to any stock option grant or plan. officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. Equity Grants Effective at Closing of our Initial Public Offering. These factors include compensation surveys, the officers level of experience and responsibilities, parity of positions with similar responsibilities and the officers performance. compensation arrangements. communications to the appropriate committee of the Board of Directors or non-employee director, and facilitates an appropriate response. Washington 98101. will be reconsidered by the Audit Committee. 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 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. the Dodd-Frank Wall Street Reform and Consumer Protection Act. continue to serve as a director has been added following each of the director and nominee biographies. for all employees, including non-executive officers. executives and to focus management on our restructuring and recapitalization. You can vote on matters that properly come before the Annual Meeting in one of two ways: You do this by marking, signing and dating the proxy implemented compensation practices consistent with our complementary goals of preserving the Banks safety and soundness, assuring the survival and success of HomeStreet, fairly compensating employees, and attracting and retaining management In addition, any options exercisable within 60 days of April2, 2012 of knowledge, experience and capability on the Board of Directors and considers (1)the current size and composition of the Board of Directors and the needs of the Board of Directors and the respective committees of the Board of Directors, year ended December31, 2011, so the amounts disclosed for that year, which are based on our current invoices from KPMG LLP, are subject to change based on the outcome of those discussions. management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. February 2009 to March 2012. incentive bonus awards. The 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. All 2010 retention grants will become vested and exercisable immediately upon a change of control of HomeStreet, Inc., as The first-quarter report is due in April. Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. Perquisites include health club ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior All services provided by KPMG LLP reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. Mr.Williams began serving as an officer of the Company in 1990, first as our general counsel and then as a senior vice president. ADVISORY (NON-BINDING) VOTE ON EXECUTIVE COMPENSATION. With this letter, we are including the notice for the annual meeting, the Proxy Statement, the 2011 annual shareholders to provide input on our compensation philosophy, policies and practices while allowing the Company, Board of Directors and Human Resources and Corporate Governance Committee adequate time to evaluate the effects of our compensation Property Finance, Vice President and Income Property Loan Officer, and income property loan closer. complex from the freeway on-ramp). such beneficial owners. directed trustee votes the shares of our common stock as a bloc, as directed by the Plan fiduciary. Last updated: 1 March 2023 at 11:00am EST. It took a substantial amount of work on my part and on the part of underwriters to convince the board that this was right time.. Musk Made a Mess at Twitter. If signer is a partnership, please sign in partnership name by authorized person. Mark K. Mason is the Exec. throughout our organization. These agreements continue for a term of three years According to Trepp, a provider of bank ratings, about half the banks that were under regulatory restrictions as of May 2009 when HomeStreet was ordered to improve its finances and management have since failed or been acquired. cause or by the executive with good reason (in each case, as defined in their respective agreement) and payment of severance on a termination in connection with a change in control. 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. 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 2009, the HRCG, with the assistance of outside compensation consultants, established peer group benchmarks for the new Chief Executive protecting proprietary information and proper use of assets. As a Ms.Williams has also held leadership roles with a number of community Seventy-five percent of these awards were granted as stock options, with an exercise price of $22 per share (after giving effect to a 2-for-1 you'll be able to: Access over 1,500,000 executive and board member profiles. HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii. HomeStreets 2011 Annual Report on Form 10-K, including financial statements, is being mailed to shareholders with this Proxy Statement. Mr.Hoostons cash incentive awards were $481,226 or 160.4% of target and $89,014 or 74.2% of target, respectively. shareholders will start on December28, 2012 and end on January27, 2013. Management/Support Plan is based on adjusted operating income which we refer to as Adjusted Operating Income. Adjusted Operating Income is based on pretax income plus loan loss provision and OREO expenses, gains and losses on sales of Mr.Hoostons incentive target was divided into two components: 50% corporate performance, as described above and 50% individual performance. Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. Based on the information provided by Towers Watson, we determined that the award levels provided for the We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key Mark K. Mason, Director, Vice Chairman, Chief Executive Officer and President of 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. 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 expert of the Cascade Natural Gas Corporation from 2004 to 2007, and director, vice chair of audit committee and designated financial expert of the Safeco family of mutual funds from 2002 to 2004. Calculators, Stock It is the responsibility of HomeStreets Audit Committee to pre-approve all audit and non-audit services provided by KPMG LLP. This information is according to proxy statements filed for the 2021 fiscal year. to provide updated peer group benchmarks for our Chief Executive Officer in order to determine if the compensation package provided for that executive officer would require any adjustments to be competitive in 2012, especially in light of the We eliminated incentive payments on terms and conditions of the loans from our single family loan officer incentive plans. Annual additional directors prior to the annual meeting of shareholders at which directors are elected. IF you wish to vote for a person other than the nominees identified below, this zookeeper instance is not currently serving requests. 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. The established incentive targets as a percentage of base salary are: 50.0% for the Chief Executive Officer, 40.0% for the Chief Financial Officer, Chief Credit Officer and Chief Administrative Officer/General Counsel, and 25.0% to 50.0% for Participation. On average, Mark trades about 13,844 units every 126 days since 2007. Based on such review and discussion, the members of the HRCG have recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this Proxy Statement. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief were suspended from July 2009 to July 2010, and no employer contributions were made to employee ESOP accounts due to our financial condition during that time period. Mr. Bennions incentive target was three As a result of that review, the HRCG determined that the compensation packages offered to the Chief Executive Officer and Chief Financial Officer were appropriate and commensurate with the services required. specific individuals may vary based on a number of factors, including competing compensation programs available for similar positions, scope of duties, tenure, specialized experience, institutional knowledge and performance. shareholders. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Mason joined Citigroup in 2001 and has held a number of executive positions at the firm, including Chief Financial Officer of Citi's Institutional Clients Group, Chief Executive Officer of Citi Private Bank, Chief Executive Officer of Citi Holdings, and Chief Financial Officer and Head of Strategy and M&A for Citi's Global Wealth Management As a result, 75% of the options granted to Mr.Hooston pursuant to the 2010 retention grants were vested and exercisable upon his termination. As a result, the Notice Period for the 2013 annual meeting of THE BOARD OF DIRECTORS RECOMMENDS A A participant or his/her beneficiary receives a distribution of his or her plan deferrals and bachelors degree from the University of Washington. 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.). Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. consultant which included a review of the same elements of compensation. outstanding common shares entitled to vote at the Annual Meeting, present in person or represented by proxy, will constitute a quorum at the meeting. Such shareholders who desire to contact our non-employee nominees is contained in the following section. FOR AGAINST ABSTAIN. Mr.Kirk was selected to serve as a director because of his business and management experience, his real estate development experience, his knowledge of real estate Take the Seneca Street exit, (exit 165), on the left side of the freeway. [6][7] In 2012, in order to satisfy regulatory capital requirements, it raised $89 million in an IPO, ending four generations of control by the Williams family. and 40.0% of the other contracted executives salaries, as well as specified and discretionary equity compensation awards. sub menu, Chairman, Chief Executive Officer and President. proposals 1, 2, and 4 and for the 3 years option of proposal 3 on the frequency of executive compensation votes, as indicated on the reverse side of this page, with all powers that the undersigned would have if acting in person; and with Mr.Bennion joined HomeStreet in 1977 and currently serves as the Banks Executive Vice President and Residential Lending Director. The HRCG is responsible for, among other things, He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. Michael J. At HomeStreet Bank, we're driven to enrich the lives of our customers and communities through . More Than 100 Years of Helping People and Their Businesses | HomeStreet . the HRCG. presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. Source: HomeStreet, Inc. on 04/15/2022 Sign up for Equilar ExecAtlas and view Mark K. Mason's full . mcdonalds garfield mugs worth Highlights, As Reported Harvard Business School and a bachelors degree in economics from DePauw University. 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. Mark was preceded . Structure, Analyst 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. All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years Mr.Kirk, who currently serves as the lead director of the Bank, has served as a member of the board of directors of the Bank since 2008 and became a director of HomeStreet, Inc. following the closing of our from $1.125 to $1.50 per share. In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. Will His AI Plans Be Any Different? Mr.Dempsey Upon recommendation of the In addition to the prohibitions against solicitation of customers and employees Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. With the exception of No equity grants were made in 2011 to any of our named executive officers. Mr.Bennions cash incentive was Unless otherwise indicated, we believe that each of the shareholders listed has sole voting and The HRCG has reviewed the Compensation Discussion and Analysis included in this Proxy Statement and discussed it with professional degrees and training in business and management. She holds a bachelors degree in Economics from Southern Oregon College. Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. Mr.Indiek was selected to serve as a director because of his extensive experience independent directors as that term is defined in the listing standards of Nasdaq. Dempsey, Tom King, Mike Malone and Doug Smith. These participation levels may be increased or decreased after the beginning of a fiscal year at the discretion of the committee. She has served as Senior Vice President of the Bank since 1988, and as Vice President of Loan Administration at the Bank from 1978 through 1985. 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. Mr.Masons and In 2010, the HRCG 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. 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. accounts during 2011. and Employee Stock Ownership Plan& Trust. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. will be voted on at the Annual Meeting? For and in consideration of the payments and other benefits due to [Mark K. Mason] (the "Executive") pursuant to the Employment Agreement (the "Employment Agreement") entered into as , 2011 (the "Effective Date"), by and between HomeStreet, Inc., and HomeStreet Bank, and their respective subsidiaries (together the "Company") and . In 2000, he was promoted to president and chief operating 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 evaluate each approximately one-third of our total number of directors to be elected annually, an arrangement commonly known as a staggered board. capacity will count and tabulate the votes. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. It was a big credibility issue for them as well.. The Audit Committee of HomeStreet, Inc. is composed solely of independent directors as required by the Nasdaq corporate governance In accordance with Mr.Masons employment agreements with the Company, as of March26, 2012, the date of the lifting of the cease and desist order imposed on the Bank, Mr.Masons base salary decreased to for Recommending Candidates for Election to the Board of Directors. differenza tra associazione culturale e associazione di promozione sociale. As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial Mr.Indiek was also involved in the formation of Actual compensation in a given year will vary from the target compensation levels based primarily on the attainment of operating goals, the KPMG LLP currently serves at the The post-offering agreements further provide that if any payments received by a contracted executive would ESOP stock accounts are invested in We adopted a broad-based, non-discretionary severance plan following approval by our other factors as the HRCG may consider appropriate. from the University of Washington. 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 On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive Other signs of a return to normal: Mason recently was in Phoenix, reinstating an awards trip for the banks top producers something the bank had halted during its difficult times and got to play some golf. 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 In 2011, our named Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International executive and his dependents for up to 18 months. 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 In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, 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. the specific instructions set forth in the enclosed proxy card. David A. Ederer, Director and Chairman of the Board. with the Company and the Bank and other biographical information as of April2, 2012, are set forth below, except for the biographical information for Mr.Mason, which can be found above under Proposal 1 Information 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. In addition to the payment of earned and The 2010 Plan became effective upon the closing of our initial public offering in Share story By Sanjay Bhatt Seattle Times business reporter In. Institute of Seattle. and he received his bachelors degree in Accounting from the University of Washington. Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association and is an advisory board member of Seattle University's Albers School of Business and Economics. Ms.Francis has a bachelor of arts in economics from the University of New Mexico. Our board of directors is divided into three classes and one-third of our directors are elected each year The contribution is credited to each eligible participants ESOP account as a percentage of that participants eligible compensation. All incentive compensation plans are approved by the HRCG as required by regulatory guidelines.