employment agreements to retain certain executives and the talent, skills, experience and expertise that they provide to HomeStreet, with a goal of protecting the Company and the shareholders and to provide the stability and skilled leadership HomeStreet CEO Mark Mason talks about the Miss HomeStreet - YouTube He received a bachelors degree in Business Administration from California State University, As a result, 75% of the options granted to Mr.Hooston pursuant to the 2010 retention grants were vested and exercisable upon his termination. Documents, Information
Mark K. Mason Net Worth (2022) | wallmine Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. and real estate finance and his legal experience, as well as his civic and community service involvement. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid He previously served as chairman. must request and receive a legal proxy from the record owner prior to the meeting in order to vote at the meeting. Equity Grants Effective at Closing of our Initial Public Offering. Unless otherwise specified, all ownership interests or voting power referenced herein, either in percentage terms or number of shares, in respect of the Mr.Schlenker was previously president of Sterling Savings Banks investment subsidiary from January 2004 THE BOARD OF DIRECTORS RECOMMENDS A From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. Mr.Boggs previously Mr. Mason serves as a Trustee of Howard University, where he received a B.B.A. If a shareholder who has notified the Company of his or her intention 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 Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. website at www.sec.gov. darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. Mark K. Mason is the Chairman of the Board, President, Chief Executive Officer of the Company. solicitation material to. Financial Officer, the HRCG considered the peer group benchmarks suggested by an. Paulette Lemon, Senior Vice President, Retail Banking Director of the Bank. 2020 HomeStreet, Inc. All Rights Reserved. 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. Mark C. Gregory, Senior Vice President and Chief Information Officer of the Bank. See Management Committees of the Board of Directors management. Mr.Smith has worked for Miller and Smith Inc., a privately held residential land development and home building company in metropolitan Washington, D.C., since 1992, and has served as its president since 1998. We adopted a broad-based, non-discretionary severance plan following approval by our business, managerial and leadership experience to our board of directors. From 1969 to 1992, Mr.King held various senior positions in 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 These grants were allocated 25% to from the effective date, with an automatic renewal for additional one-year periods thereafter unless either party gives notice of termination 180 days prior to the expiration of the then-current term. Mr.Indiek was selected to serve as a director because of his extensive experience We refer to these awards in this Proxy Statement as the 2010 retention grants. These awards were granted to retain certain key 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. oversee and make decisions regarding executive management salaries, incentive compensation, long-term compensation plans and equity plans for our Mr.Boggs was also an adjunct professor for the Seattle University Albers School of Business and Economics teaching accounting and information systems from 2004 until 2009. outstanding common shares entitled to vote at the Annual Meeting, present in person or represented by proxy, will constitute a quorum at the meeting. In 1999, we adopted a plan to permit directors to defer all or a portion of their fees received for services as a director that would (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 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. executive and his dependents for up to 18 months. Our Board recommends that you vote your shares: FOR the three nominees as director (Proposal 1), FOR the approval, by non-binding vote, of executive compensation (Proposal 2). Proxy instructions, ballots and voting tabulations that identify an individual shareholder are handled in a manner that protects your voting privacy. Financial Officer, David Hooston, effective as of March31, 2012. vote. This additional discretionary award was for the significant contribution to the companys 2011 operating The Audit Committee of HomeStreet, Inc. is composed solely of independent directors as required by the Nasdaq corporate governance In addition, each director earns a fee of $1,000 per board meeting, Bruce W. Williams. What happens if I sign and return my proxy card, but dont mark my votes? Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who Ownership Plan (ESOP). Please detach along perforated line and mail in the envelope provided. The following is a summary of certain key points of our 2011 executive compensation 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. Mark K. Mason, Director, Vice Chairman, Chief Executive Officer and President of places certain restrictions on loan transactions between the Bank and its directors, executive officers and principal shareholders (or any of their related interests). Shareholder ratification of the selection of KPMG LLP is As we were not publicly traded prior to February10, 2012, the HRCG did not previously take this deductibility limit This information is according to proxy statements filed for the 2021 fiscal year. Mark K. Mason, Director, Chairman, Chief Executive Officer and President of HomeStreet, Inc. Mr. Mason has been the Companys Chief Executive Officer and HomeStreet Banks Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. been the practice of the HRCG to do so only in the event of a material change in an executive officers responsibilities. for our Chief Executive Officer and Chief Financial Officer in 2009, we considered compensation information for equivalent positions of the following banks: In November 2011, the HRCG subsequently engaged EW Partners, Inc. (EW Partners) Fifty percent of the annual retainer is paid in cash and the for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. officers, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables and the other related disclosure.. If the signer is a corporation, please sign Statement. 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. results from the single family mortgage origination activities under Mr.Bennions leadership. Thank you for your ongoing support of and continued interest in HomeStreet, Inc. Mutual Funds. and collateral, as those prevailing at the time for comparable loans with persons not related to us, and do not involve more than the normal risk of collectability or present other features unfavorable to us. Mr.Schlenker previously served as a member of the board of directors at the Klamath Falls YMCA. submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. The undersigned shareholder of HomeStreet, Inc. hereby appoints David A. Ederer and Godfrey B. Evans, and each of them, with power of substitution to each, to attend the Annual Meeting of Mr. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. In this section we refer to these individuals as the contracted executives. business and management. Such directors, officers and employees will not be Mr.Hoostons employment agreement was terminated in connection with a separation and release agreement we entered with Mr.Hooston (the Separation ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward If you hold your shares in street name and you do not give voting instructions to and reducing overall credit risk and nonperforming assets. Directions and Parking Instructions to HomeStreet, Inc. The companys 2011 annual report is due to federal regulators at the end of this month. 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 Shareholder recommendations for candidates to the Board of Directors must be directed in writing to HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101, Attention: General Counsel, and must include the as part of the 2010 retention grants. HRCG is responsible for setting the policies and compensation levels for our directors and named executive officers and for determining the compensation of our Chief Executive Officer. KPMG. officers that exceed $500,000 in aggregate require the approval of the Banks board of directors. Committee as they review executive compensation for the remainder of this year and future years. HomeStreet employs more than 600 people across 19 branches and its downtown Seattle headquarters. income. We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. the Company in 2008. constitute an excess parachute payment within the meaning of Section280G of the Internal Revenue Code, the Company will pay that individual an additional amount so that his net payment will not be diminished in any respect by the He became Chairman of the Board of the Company in March 2015 after serving as Vice Chairman of the Board since January 2010. 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. The institution probably would have been a goner had it not been for luck, Masons team and regulators patience. Corporate Secretary, General Counsel and Chief Administrative Officer, will vote your shares as recommended by the Board of Directors: FOR each of the director nominees identified herein, EVERY 3 YEARS for Proposal 3 and FOR approval of the other Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. She is a member of both the regional and national chapters of the Association for Financial The oldest executive at HomeStreet Inc is David Ederer, 77, who is the Chairman Emeritus. differenza tra associazione culturale e associazione di promozione sociale The 2010 Richard W.H. 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. In 2017, HomeStreet CEO Mark Mason explained why. for Recommending Candidates for Election to the Board of Directors. From 2009 through 2011, our compensation philosophy and programs were directed primarily at attracting and retaining an executive management or other nominee who holds your shares. persons ownership of HomeStreet stock. Mr.Stewart was previously the director of finance at Volt Information Sciences, Inc. from the approval of executive compensation. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief regulators on February25, 2009. 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 February 2009 to March 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 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. Perquisites and other Personal Benefits. Therefore, no specific target and maximum award opportunities were defined for 2011 and no awards were earned for 2011 performance results. A remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. References to the Annual The say-on-pay vote will, however, allow shareholders to express their views about our executive compensation philosophy, policies and practices, which may inform our Human Resources and Corporate Governance In order to Mr.Iseman served as senior vice president and senior portfolio consulting services to banks and other financial services companies. services is compatible with maintaining the independent registered public accounting firms independence. to have a material adverse effect on HomeStreet. cast will be elected. We urge you to complete, sign and date your proxy card and promptly return it in the postage-paid envelope provided. If you are a When the bank announced plans last May to sell stock to the public for the first time, the economy appeared to be on the rebound and pundits dismissed talk of a double-dip recession. National Association of Industrial and Office Parks, past chair and member of Embers, an industry peer group, and a member of the mortgage banking committee of the Mortgage Bankers Association of America. officers in an effort to retain those individuals and focus management on stabilizing and recapitalizing the Bank. The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. You can vote in person at the meeting. ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. [4] Its current headquarters are in Seattle, Washington. These grants consist of restricted stock that will vest in equal installments over have an exercise price equal to or greater than the fair market value of the underlying stock on the date of grant. The Audit Committee held 14meetings during the last fiscal year. Peer group benchmarking was not used over the three preceding years for other management positions because we were not increasing base salaries for those other officers. (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 HomeStreets difficult quest for capital was over. Join Facebook to connect with Mark Mason and others you may know. under the 2010 retention grants. 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 The The reasons for, and further information in relation to, each of these proposals are described in more Seventh Avenue runs under the Union Square buildings and the garage entrance is mid-block on the right side of the street. 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 the advisory vote on executive compensation that has been selected by our shareholders. Mr.Bennion also received a discretionary award of $124,987 for a total award of $300,000. HomeStreet had planned to complete its IPO in early August. Mr. Hoostons awards granted in 2012 were In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, underlying each such option grant. is a member of the Seattle chapter of the Risk Management Association and a member of the Enterprise Risk Management working group of the American Bankers Association. Mr.Morrison is grant to each of the contracted executives additional equity awards representing a number of shares equal to the product obtained by multiplying the percentage of our pre-offering common stock reflected by the contracted executives 2010 The Board of Directors has determined that, with the exception of Mark Mason and Bruce Williams, all of its current members are Bank upon the closing of our initial public offering in February 2012. the shareholders of said corporation to be held May23, 2012, at 10:00 a.m. in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101, and any adjournments or postponements thereof, and to vote the shares of the Kathryn A. Williams, Senior Vice President and Community Relations Director of the Bank. 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.