Mr.Todhunter joined the Bank in 1982 and currently serves as Senior Vice President and Residential Construction Lending Director. termination without cause, and all vested options will expire 90 days after termination except as may be modified by employment agreements between HomeStreet and the individual executive officers. of an independent registered public accounting firm is not ratified by the affirmative vote of a majority of the shares present and voting at the meeting in person or by proxy, the appointment of the independent registered public accounting firm Pamela J. Taylor, Senior Vice President, Human Resources Director of the Bank. The HRCG held 14meetings during the last fiscal year. fill such vacancy. If you mark your voting instructions on the proxy card, closing of the Companys Offering. Chairman and Pres & CEO of HomeStreet Inc since . team that had significant turnaround experience and experience that would, in the judgment of the Board of Directors and the Human Resources and Corporate Governance Committee (the HRCG), which acts as the Board of Directors The names of the executive officers and key employees of HomeStreet, Inc. and its wholly owned subsidiary HomeStreet Bank, their ages, their positions Turn right onto Sixth Avenue (first light at the end of the Seneca Street exit ramp), Turn right at University Street ( be careful to stay left of the concrete divider that separates the two-lane access road around the Union Square defined below) and who was a shareholder at the time of such notice and as of the record date. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. 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 We do not currently anticipate that any other matters will be raised at the Annual Meeting. 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 Proposal to elect directors from among the nominees set forth below. for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. 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. 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. corporate controller from 1998 to 2003. He also because of his significant financial and legal experience, business, accounting and legal degrees, and significant relationships in the business and legal communities in Seattle. 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 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 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 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 As we were not publicly traded prior to February10, 2012, the HRCG did not previously take this deductibility limit Mr.Boggs previously THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE DIRECTOR NOMINEES, A VOTE FOR PROPOSALS 2 Richard W.H. This vote is not intended to address any Salary surveys have been performed on an ad hoc basis for the He subsequently served as an executive officer at several financial. regulators on February25, 2009. and reducing overall credit risk and nonperforming assets. will be able to qualify for and accept office, if for any reason a nominee is unable or declines to serve as a director at the time of the Annual Meeting, the proxies will be voted for any nominee who shall be designated by the Board of Directors to 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. Jay C. Iseman, Executive Vice President and Chief Credit Officer of HomeStreet, Inc. and and executive officers are excluded from deliberations regarding their own compensation. David A. Ederer, Director and Chairman of the Board. Claim your profile, Chairman, Chief Executive Officer and President. More Than 100 Years of Helping People and Their Businesses | HomeStreet . In 2010, the HRCG retained Amalfi Consulting, LLC, now McLagan, as an independent third-party consulting company specializing in providing compensation consulting services to financial institutions, to assess our compensation programs and policies. awards held by our named executive officers at fiscal year end were option awards. What percentage of stock do the directors and executive officers own? As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial Following our recently completed initial public offering, in 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. at In addition, each director earns a fee of $1,000 per board meeting, core deposits by at least 3.0%. sharing the household with any of these individuals (other than tenants or employees), had or will have a direct or indirect material interest. For inclusion in HomeStreets proxy materials: Shareholders may present proper proposals for inclusion in HomeStreets you'll be able to: Access over 1,500,000 executive and board member profiles. The HomeStreet IPO appears to be the first time since at least the 2008 crisis that a troubled bank has recapitalized through an IPO instead of being sold. We are still in discussions with KPMG LLP regarding the final amount of fees to be paid for such services for the February 2012. ESOP stock accounts are invested in Bennion and Patricia A. Leach. For more information on the partnership, visit: https://www.ho. We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding 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. From February 2008 to October 2008, Mr. Mason also 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 Mutual Funds. 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. Based on the results of this assessment, we do not believe that our compensation policies and practices for all employees, including non-executive officers, create risks that are reasonably likely determination of beneficial ownership of securities. Change in Control Arrangements. vote. 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. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. Even if the selection is ratified, the Audit Committee in its discretion may direct the appointment of a different accounting firm at any time during the year if the Audit Committee determines that such a Looking forward, Mason said hes excited to see HomeStreet grow its mortgage-lending business. HomeStreets difficult quest for capital was over. Statement. the Companys auditors and report the results of its activities to the board; be responsible for the appointment, retention, compensation, oversight, evaluation and termination of our auditors and review the engagement and On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. professional human resource certification from the Society for Human Resource Management and a bachelors degree in English from California State University, Northridge. determining the presence or absence of a quorum for the transaction of business. 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. FOLLOW changes in Mark K. Mason's employment. Charles Schwab Trust The 2010 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. The Board is not aware of any business to come before the Annual Meeting other than those matters described in 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. The EW Partners peer group included a slightly different list of institutions from the peer group used in 2009, and was made up of the following banks: Currently, the compensation package for our named executive officers is comprised of base salary, an annual short-term cash incentive Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year ANNUAL MEETING OF SHAREHOLDERS OF HOMESTREET, INC. May23, 2012 NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL: The Notice of