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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. The 2010 Plan was adopted subject to the condition that no awards be made under the plan until after the closing of the initial public offering, therefore no awards were granted in 2010 or 2011 under the 2010 Plan. The Management/Support Plan includes a provision allowing for the reduction or recovery of awards if the HRCG determines that materially manager of commercial special assets with Bank of America between 2008 and 2009 and as vice president and client manager with Bank of America from 2000 to 2007. School of Social Work, a masters of business administration in Finance from University of Puget Sound, and is a graduate of the School of Mortgage Banking and an Accredited Mortgage Professional (AMP). The participant has a limited ability to change these elections. Mr.Evans also served as an attorney A discussion of the qualifications, attributes and skills of each nominee that led our Board of Directors and the Human Resources and Corporate Governance Committee to the conclusion that he should The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. BRIAN P. DEMPSEY, GERHARDT MORRISON AND and to vote at the Annual Meeting. understanding of the Companys business in particular, (4)have qualifications that will increase overall Board effectiveness and (5)meet other requirements as may be required by applicable rules, such as financial literacy or In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, obtained without charge by writing to Investor Relations, HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101. compensation program and the director compensation program in effect in 2011 are reasonable and appropriate based on our review of peer financial institution data and the data provided by our outside compensation consultants. Ms.Taylor joined the Bank in 1998 as Senior Vice President and Human Resources Director. Mr Mason is 61, he's been the Exec. 61 Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. The estimated Net Worth of Mark K Mason is at least $6.8 Million dollars as of 1 January 2023. We needed all three, he said. The Management/Support Plan design incorporates a tiered approach with annual incentive awards linked to the achievement of pre-defined corporate, department and individual performance goals. Mason said he had to persuade the board to try a third time so soon again. Musk Made a Mess at Twitter. Signature of Shareholder Date: Signature of Shareholder Date: Note: Please sign exactly DOUGLAS I. SMITH. 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 unpaid salary and incentive compensation, unused vacation time, and unreimbursed expenses, in the event of termination of a contracted executives employment within one year or during the 90 days immediately preceding a change of The say-on-pay vote is advisory, and therefore not binding on the Company, the Human Resources and Corporate Governance The principles underlying our executive in each of the last two fiscal years were pre-approved by the Audit Committee. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. The reasons for, and further information in relation to, each of these proposals are described in more However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. The to serve for a three year-term or until a successor is duly elected and qualified. Prior to his current position with the If you do not mark your vote on your proxy, David A. Ederer, Chairman of the Board of Directors, and GodfreyB. Evans, our About Us. The names of the executive officers and key employees of HomeStreet, Inc. and its wholly owned subsidiary HomeStreet Bank, their ages, their positions Plus, the states economy has improved rapidly. Highlights, As Reported Ownership Plan (ESOP). Who can help answer any other questions I may have? Between 1991 and 2002, Mr.Dempsey served as a member of the board of directors of Golden State Bancorp. In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. 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 full corporate name by duly authorized officer, giving full title as such. 1. The information Mr.Masons and It means that you may have multiple stock ownership accounts. In 2000, he was promoted to president and chief operating Such directors, officers and employees will not be Employee directors do not receive compensation for serving on either board of directors. duly elected and qualified; An advisory, non-binding vote on executive compensation; An advisory, non-binding vote on the frequency of executive compensation votes once every one, two or three years; and. Our articles of incorporation provide that directors are elected for The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the directed trustee votes the shares of our common stock as a bloc, as directed by the Plan fiduciary. ADVISORY (NON-BINDING) VOTE ON EXECUTIVE COMPENSATION. Ms.Leach joined the Bank in 1985 and since 1998 has served as the Executive Vice President and Income Property Lending Director. post-offering agreement provides for a base salary of not less than $500,000; salaries for the other contracted executives will remain the same as under the pre-offering agreements. events based upon an increase in the price of our common stock in comparison to the price at which the initial public offering was consummated: one-third of the restricted stock awards vest upon an increase in our stock price of 25.0% from the Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. $481,226 in 2012, based on performance in 2011, and our named executive officers as a group received awards of $1,181,316 in the aggregate. February 2009 to March 2012. The HRCGs Committee Report is included in this Proxy She holds a bachelors degree in Business Administration, Finance from the University Street curves and becomes Seventh Avenue. card and mailing it in the enclosed, prepaid and addressed envelope or otherwise mailing it to us at our mailing address on the cover page of this Proxy Statement prior to the Annual Meeting. turnaround plan, including reducing troubled assets, improving the Banks performance and raising the additional capital necessary to recapitalize the Bank and the Company through our initial public offering. HomeStreets Ederer said that after regulators placed the bank under an enforcement order in 2008, there were many sleepless nights. compensation policies and programs include: provide levels of compensation competitive with those offered by our peers and competitors and consistent with our level of performance; attract and retain the most qualified and experienced individuals available to further our success; align the interests of executives and shareholders by linking a significant portion of an executives compensation to HomeStreets short- and The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. 401(k) Plan contributions and may be eligible to receive a discretionary matching contribution. 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 Bank upon the closing of our initial public offering in February 2012. Freddie Mac, serving initially as its first chief financial officer from 1970 to 1973 and then as its president and chief executive officer from 1974 to 1977. 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. While we have not established specific minimum qualifications for director candidates, we believe that candidates and nominees must reflect a Board 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, In the course of determining the independence of each non-employee director, the Board of Directors considered the annual amount of HomeStreets sales majority of the remaining directors then in office, unless otherwise provided by law or by resolution of the board of directors. Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by As of 1 January 2023 he still owns at least 179,972 units of HomeStreet Inc stock. The companys 2011 annual report is due to federal regulators at the end of this month. We believe that our current overall non-employee director In 2009, the HRCG, with the assistance of outside compensation consultants, established peer group benchmarks for the new Chief Executive judgment. Our bylaws permit ending December31, 2011 be included in HomeStreets 2011 Annual Report on Form 10-K filed with the SEC. reward and motivate appropriate executive behavior that produces strong financial results while managing risks and promoting regulatory compliance. This report is not for commercial use. 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. the attached Proxy Statement. Mr.Iseman served as senior vice president and senior portfolio Pursuant to From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. 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, From 1969 to 1992, Mr.King held various senior positions in change would be in the best interests of the Company and its shareholders. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. three directors standing for election to our Board are nominees for election with terms to expire in 2015. from the University of Washington and is a HomeStreet Bank CEO Mark Mason is leading the bank's retreat from the mortgage banking business. 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 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. In addition, we believe a meaningful portion of each executives total compensation opportunity should be linked to our HomeStreet, Inc. Mr. Mason has been the Company's Chief Executive Officer ("CEO") and a member of the Company's Board and HomeStreet Bank's Chairman of the Board and Chief Executive Officer since January 2010. Registrant, Confidential for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)), Soliciting Material Pursuant to 240.14a-12, (Name of Registrant as Specified In Its Charter). detail in the questions and answers and other materials that follow. any of our directors, executive officers or beneficial holders of more than 5% of our capital stock, or any immediate family member of or person brought before such meeting and about the shareholder proposing such matters, including information related to the shareholders ownership interest in the Company and any material interests of the shareholder in the business desired to be Mr.Battaglia holds a bachelors degree in English from the University of Puget Sound, a J.D. In addition, we granted nonqualified stock options, which we refer to as the 2010 retention grants, to certain senior logo are registered trademarks of HomeStreet, Inc. equal board of directors and is comprised of Pamela J. Taylor, Richard W.H. We design our compensation programs and make individual pay decisions and adjustments in the context of this philosophy. 2020 HomeStreet, Inc. All Rights Reserved. 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. HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii. The Chief Executive Officer and Chief Financial Officer each received a one-time grant of nonqualified stock options for their efforts in improving our financial condition member of the board of HomeStreet, Inc. from 1994 to 2012 and as a member of the board of the Bank from 1999 to 2012. This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation As the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc, the total compensation of Mark Mason at HomeStreet Inc is $1,714,120. Mark Mason serves as the CEO / President of HomeStreet. Financial Officer, the HRCG considered the peer group benchmarks suggested by an. It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. Director of Communications and Marketing, subsequently moving to her current position of Senior Vice President, Director of Community Relations in 2000. Election of Directors. Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year protecting proprietary information and proper use of assets. The corporate component for the He is also a member of the boards of directors of several community organizations, including University of Washington Physicians, and He sold the credit-card operations that had pushed the bank to the brink. 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. throughout our organization. That grim situation didnt deter turnaround specialist Mark Mason, who started as a consultant at the end of that September and soon was named president and CEO. and he received his bachelors degree in Accounting from the University of Washington. You may cast your vote on your preferred voting frequency by choosing the option of one year, two years, three years or abstain from I got married the first time because I was raised Catholic and that's what you were supposed to do. 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 quorum exists, a majority of the voting power of those present at the Annual Meeting may adjourn the Annual Meeting to another date, time and place. Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. 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. Additional copies of the Annual Report on Form 10-K may be PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE PROPOSALS 1. The Bank surveys Company and Bank directors and senior and executive officers each The percentages reflect beneficial Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. The stock options vest ratably in thirds over each of the first three anniversaries of the completion of the offering, while the the Bank. 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. The 2010 Plan allows for a range of equity grants, including stock options, restricted stock or restricted stock units, stock bonuses or Wallmine is a radically better financial terminal. HomeStreet, Inc.s board of directors has authorized by resolution a 12-member board of directors, however, we currently have 11 sub menu, Chairman, Chief Executive Officer and President. FOR AGAINST ABSTAIN. She holds a bachelors degree in Business Administration from Western Washington University and she has completed HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. We are requesting that you provide the Board of Directors your vote prior to the meeting by completing and returning Mr.Ederer has previously served as a director of a number of public and private companies, organizations and institutions, including Cascade Natural Gas, University Savings Bank, Farmers New World Life Insurance Company, Childrens our Board of Directors to establish by resolution the authorized number of directors, and twelve members are currently authorized, although at present we have only eleven members. will be reconsidered by the Audit Committee. Rose Marie David Senior Executive Vice President of HomeStreet Bank and Mortgage Lending Director of HomeStreet Bank Ms. Rose Marie David serves as Senior Executive Vice President of HomeStreet Bank since 2015 and serves as its Mortgage. Ms.Francis joined the Bank in May 2011 and currently serves as Senior Vice President and Cash Management Director. As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive The contribution is credited to each eligible participants ESOP account as a percentage of that participants eligible compensation. Prior to joining the Banks board, Mr.King served as We asked food giants for the names of processing companies that supply meat for their frozen pizzas, canned soup, and hot dogs. leave. has served as Senior Vice President, Retail Banking Director and as Vice President, Retail Bank Operations Manager prior to 2001. Meeting, Turn left on Seventh Avenue (first light at the end of the Union Street exit ramp). Officer and Chief Financial Officer positions. In 2017, HomeStreet CEO Mark Mason explained why. You may also find these items online, along with our Form 10-K, at http://ir.homestreet.com. Cory D. Stewart, Senior Vice President and Controller of HomeStreet, Inc. and Senior Vice President, Finance Hilton Hotel, Windward Room, located at 1301 Sixth Avenue. Mr. Mason brings extensive business, managerial and leadership experience to our Board. OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF. 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. Mr. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. Under these rules, more than one person may 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 Biographical information about each of the This table includes all compensation paid to directors who were on the Board during any portion of 2011. If any other matters are properly presented for consideration at the Annual Meeting, including, among other things, consideration of a motion to adjourn the Annual Meeting to another time or place Asset/Liability Manager and Treasurer of the Bank and the Company from 2003 to 2010. in connection with the closing of our initial public offering in February 2012 that were subject to vesting based on increases in our stock price above the initial public offering price, but to date the HRCG has not made any other awards conditioned Documents, Information Mr. Hoostons awards granted in 2012 were Executive Compensation below. A. copy of this charter is available on our website at http://ir.homestreet.com. After careful consideration, our Board of Directors has determined that a non-binding vote Judd Kirk. Let us earn your business. All nominees are incumbent directors of HomeStreet and nominated for reelection. 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 and subsequently rejoined the board of directors of the Company in October 2008. Prior to joining the Bank, Mr.Boggs was employed by Microsoft Corporation from 1993 to 2003 where he served in a variety of positions including vice president, Management/Support Performance-Based Annual Incentive Plan. The option of one year, two years or three years that receives the highest number of votes cast by shareholders will be the frequency for Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. IDENTIFY executive and board member connections in Mark K. Mason's network. Our Board of Directors and our Human Resources and Corporate Governance Committee value the opinions of our shareholders and to the extent there is any on HomeStreets website and the SECs website are not part of this Proxy Statement. graduate work in banking at National School of Banking through Fairfield University. 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