Blue lion capital encourages homestreet board to remove management team change in control payments as part of fsun merger

Homestreet was encouraged by firstsun capital bancorp management to hedge interest rate risk after merger was announced in january 2024 but mark mason refused homestreet's profitability and value declined as interest rates increased on april 30 th, firstsun amended and lowered the merger consideration to homestreet shareholders by $30.5 million to reflect homestreet's lower profitability and value if shareholders receive $30.5 million less, why should homestreet executives receive $19.6 million more via change in control payments? last week, homestreet shareholders voted against homestreet management receiving the payments blue lion capital encourages homestreet's board to do the right thing and remove the management team change in control payments as part of the firstsun merger blue lion encourages shareholders to contact james mitchell, homestreet's lead independent director dallas , june 27, 2024 /prnewswire/ -- blue lion capital, a dallas-based investment firm ("blue lion") that beneficially owns approximately 1.3% of the stock of homestreet, inc. (nasdaq: hmst) ("homestreet" or the "company"), has issued a letter to the homestreet board of directors ("board") regarding change in control (cic) payments that the company's management team may receive as part of the firstsun capital bancorp ("fsun" or "firstsun") merger.
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