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HomeStreet CEO to exercise his vested stock options

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HomeStreet CEO to exercise his vested stock options

Seattle-based HomeStreetInc.'s Chairman, President and CEO Mark Mason plans to exercise allof his vested stock options and sell the associated shares, according to atranscript of the company's first-quarter earnings call on April 26.

Mason plans to exercise all his exercisable options,totaling 242,168 shares, within 30 days, in conjunction with financial planningrelated to his upcoming divorce.

Following the transaction, the chief executive will own over242,000 shares, representing approximately 1% of the company's outstandingcommon stock. In addition, Mason owns 21,000 unvested shares of restrictedstock units and a target of 27,000 shares to a maximum of 40,000-plus shares ofperformance share units.

He noted that this transaction does not reflect any negativechange in his views on the business or prospects of the company.

In addition, the company on April 14, executed a $20 millionunsecured line of credit that will help the company in managing its workingcapital and liquidity needs, and may also help unit to maintain targetregulatory capital ratios.