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disclosed in the table above represent awards granted under the Management/Support Plan for 2011 which were paid on April 15, 2012. The 2010 according to any stock option grant or plan. on satisfaction of performance goals. However, if the annual meeting for 2013 is more than 30 days before or 60 days after May23, 2013, in order to be timely notice must be delivered not less than significant vote against the named executive officer compensation as disclosed in this Proxy Statement, we will consider our shareholders concerns and evaluate whether any actions are necessary to address those concerns. Mr.Mason received a cash incentive payment of Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. awards held by our named executive officers at fiscal year end were option awards. He has been a member of the Fannie Mae Western Business Center Advisory Board since 2004, Chair of the Housing Partnership, a nonprofit organization, from 2001 to 2007 and a member of the University of Washington Milgard School of Business Advisory (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 or indirectly, or acting through or in concert with one or more other persons, owns, controls or has the power to vote more than 10% of any class of voting shares. unvested at the time of his separation and therefore were forfeit on March 31, 2012. He is currently a You may also find the annual proxy statement by going directly to the company's website. 2010 Equity Incentive Plan. officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. Documents, Information We needed all three, he said. During 2008, prior to returning to Bank of America, Mr.Iseman served as vice 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. 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 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.). The Bank surveys Company and Bank directors and senior and executive officers each brought before the meeting. Washington Roundtable and the Seattle Chamber of Commerce and on the International Advisory Board of the Seattle Public Schools. benchmark group as independently assessed by EW Partners. Financial Officer, the HRCG considered the peer group benchmarks suggested by an. 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. HomeStreets management and the HRCG have assessed the risks associated with our compensation policies and practices levels. She holds a bachelors degree in Economics from Southern Oregon College. Administrative Officer. deems necessary or proper. 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. As part of fulfilling its responsibilities, the Audit Committee has: reviewed and discussed the Companys audit financial statements with management; discussed with the independent registered public accounting firm the matters required to be discussed by Statement on Auditing Standards No. change would be in the best interests of the Company and its shareholders. Ms.Vincent joined the Bank in 1987 and currently serves as Senior Vice President, Risk and Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. Mr.Ederer received a bachelors degree 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. The Board of Directors has determined that, with the exception of Mark Mason and Bruce Williams, all of its current members are 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. But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. and to vote at the Annual Meeting. We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation management. delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. Mark Mason Chairman of the Board and Chief Executive Officer at HomeStreet Bank Seattle, Washington, United States 299 followers 245 connections Join to view profile HomeStreet Bank. What is the Unless otherwise indicated, we believe that each of the shareholders listed has sole voting and full corporate name by duly authorized officer, giving full title as such. Mark Mason is on Facebook. the specific instructions set forth in the enclosed proxy card. 4. About Us. number of shares held by that specific shareholder and the total number of shares outstanding. You may do this by either a) signing and returning another proxy with a later date prior to the date of the character, judgment, diversity, age, independence, background, skills, expertise, corporate experience, length of service, other commitments and the like, personal references, and an indication of the candidates willingness to serve. BRIAN P. DEMPSEY, GERHARDT MORRISON AND oregon farms carrot cake recipec'est dans les moments difficiles citationc'est dans les moments difficiles citation HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock Ms. Williams served as a We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding She holds a bachelors degree in Business Administration, Finance from the including the named executive officers. Mr.Smith has been elected to serve as a director because of his experience in the residential construction lending area as well as his experience in the The HRCG has the authority to THE BOARD company financial performance set annually by our board of directors. compensation arrangements. Insider Trading Policy and Rule 10b5-1 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. Executive School of Business, and a law degree cum laude from Harvard Law School. We also believe the compensation paid to our the advisory vote on executive compensation that has been selected by our shareholders. The Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the business as may properly come before the Annual Meeting of Shareholders of HomeStreet, Inc. (1)two times his then current base salary, (2)an amount equal to two times the greater of (a)his annual incentive payment earned in the year prior to termination or (b)his target incentive payment for the current year and Charles Schwab Trust Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International Mr.Boggs joined the Bank in 2006 as a member of the board of directors and became a director of HomeStreet, initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. 401(k) Savings These jobs require commitment and focus, he said. for the relevant quarter. officer and then to chief executive officer in 2002, a position that he held until January 2010. President of HomeStreet, Inc.; Executive Vice President and Residential Lending Director of the Bank. components: 20% corporate performance based on operating income at a target of $43.3 million, 60% business unit performance based on single family loan production and profit and 20% individual performance. The following is a summary of certain key points of our 2011 executive compensation 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 Thorough reviews have been conducted to assure this data accurately reflects disclosures. in each of the last two fiscal years were pre-approved by the Audit Committee. 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 Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act) our days prior to the one year anniversary of the date on which we mailed our proxy materials to shareholders in connection with the previous years annual meeting of shareholders. 6.0% of eligible compensation (subject to IRS limits). executive officers. ENVELOPE. Agreement) in connection with that departure. 2019-2020 voted Best Bank by Money Magazine for the 3rd year in a row! Powered By Q4 Inc. In addition to the payment of accrued and unpaid salary and incentive Under these rules, more than one person may It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. Unless otherwise set forth in the following table, the address of the listed shareholders is c/o HomeStreet, Inc., 601 Union Street Suite 2000, Seattle, Ms.Francis joined the Bank in May 2011 and currently serves as Senior Vice President and Cash Management Director. 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. Management Director of the Bank. With the exception of The bank finished its worst quarter ever in September 2009, losing nearly $43 million. 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 meeting will be held in the Winward Room on the lobby level of the Hilton. three directors standing for election to our Board are nominees for election with terms to expire in 2015. 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. 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 Executive Compensation.. In 2010, the HRCG meeting. Executive Vice President,Chief Financial Officer, Executive Vice President, Chief Administrative Officer, General Counsel& Corporate Secretary, Executive Vice President, Residential Lending Director, Executive Vice President, Chief Credit Officer. Salary increases ordinarily are effective on January1 of each year. accordance with the audit committees charter, the audit committee will review and pre-approve in writing any proposed related party transactions; however, certain types of transactions, including Regulation O Loans, executive officer Open The actual payouts will be calculated as a proportion of minimum, target and maximum performance levels. ABOVE BY SIGNING AND RETURNING THE ATTACHED PROXY TO THE COMPANY. 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. 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 Mr.Boggs was selected to serve as a director because of his significant accounting and financial experience, his accounting credentials and degree as These agreements continue for a term of three years the reserve at lake keowee membership cost the reserve at lake keowee membership cost directors and consultants and to provide a means whereby officers, employees, directors and consultants can acquire common stock or earn incentive compensation based on the value of our common stock, thereby strengthening their commitment to This information is according to proxy statements filed for the 2021 fiscal year. Management/Support Performance-Based Annual Incentive Plan. She holds a senior 61 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. also the Certain Relationships and Related Transactions section in this Proxy Statement. Regulatory Oversight Director. Mr.Dempsey was selected to serve as a director because Mark K. Mason, Director, Chairman, Chief Executive Officer and President of HomeStreet, Inc. Mr. Mason has been the Company's Chief Executive Officer and HomeStreet Bank's Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. the Cascade Land Conservancy Advisory Board. Mr.Ederer is a certified public accountant (inactive) and managed consulting, accounting and auditing services for Price Waterhouse from 1965 to 1974. However, if any 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. Mr.Evans also served as an attorney The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. 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 Chairman and Pres & CEO of HomeStreet Inc since . ANNUAL MEETING OF SHAREHOLDERS OF HOMESTREET, INC. May23, 2012 NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL: The Notice of Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. Prior to being named Citi CFO, Mr. Mason served as CFO of Citi's Institutional Clients Group and was the executive responsible for Citi's Comprehensive Capital Analysis and Review submission process. Prior to joining the Bank, Ms.Kanealii served Bank of America as senior vice president and senior relationship manager for middle Facebook gives people the power to share and makes the world. 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.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. Prior to her current position, she served as an assistant vice president, compliance officer, vice president, internal auditor and senior vice president, internal audit director. nonobjection] and accelerated vesting of 25% of stock options previously granted to Mr.Hooston under the Companys 2010 retention grant program. 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. market commercial lending, and vice president, business banking. In 2010, the HRCG Look for overhead signs in the garage directing you to WEST or One Union Square elevators. From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. Mr.King was chosen to serve as a director because of his experience as an executive officer, director and consultant to banks and financial services companies, his commercial banking relationships, his financial experience, Mr.Malone joined the Board of Directors of HomeStreet, Inc. upon the closing of our initial public offering in From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. 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 Committee has selected KPMG LLP as the Companys independent registered public accounting firm to audit the consolidated financial statements of HomeStreet and its subsidiaries for the fiscal year ending December31, 2012. Sixth Avenue, Seattle, Washington 98101 in order to consider and vote upon the following proposals: Only shareholders of record at the close of business on April2, 2012, are entitled to notice of the meeting and an opportunity to defined below) and who was a shareholder at the time of such notice and as of the record date. On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. For its 2021 fiscal year, HOMESTREET INC, listed the following CEO pay ratio data on its annual proxy statement to the SEC. income. . employees and consultants. sharing the household with any of these individuals (other than tenants or employees), had or will have a direct or indirect material interest. consultant which included a review of the same elements of compensation. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon directors from 1998 to 2002. Mr. Mason was selected to serve as a director because of his position as our CEO and his significant experience as an executive officer, director and consultant to other banks and mortgage companies, his credit and lending experience, finance and accounting education and experience and relationships in the banking industry and the capital markets. submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. initial public offering. If your shares are held in street name, you will need proof of ownership to be admitted to the Annual Meeting. All 2010 retention grants will become vested and exercisable immediately upon a change of control of HomeStreet, Inc., as He also To assist the Audit Committee in its oversight responsibilities, the pre-approval policy identifies the three basic principles of