The Audit Committee has adopted a policy that requires advance approval of all audit, audit related tax services and other services Mr.West's qualifications to serve on our Board include his extensive financial and investment experience as well as his real estate experience. All of the directors attended at least 75% of Board also has determined that Mr.DeMark qualifies as an "audit committee financial expert" as defined by SEC rules. Transition provisions under Section162(m) of the Internal Revenue Code of 1986, as amended, may apply for a period of three of our Board of Directors. BankUnited,Inc.'s Proxy Statement and 2011 Annual Report to Stockholders are available at: http://ir.bankunited.com. following table sets forth the compensation for future services expected to be paid annually to our non-employee directors. The Compensation Committee determined the amount of the bonus after a review of subjective criteria related to Mr.Melby's performance in 2011. vote is an advisory vote only and is not binding on the Company or the Board of Directors. the accompanying proxy card, Notice of Annual Meeting of Stockholders, and the 2011 Annual Report to Stockholders (the "Annual Report") were first mailed on or about April4, 2012, to Mr.Melby, who is not a founding member of our management team, commenced employment with BankUnited on September28, 2009 and the terms of his compensation were the product of lance west centerbridge - foodsovereignty.org.uk foregoing procedures. OF DIRECTORS AND OTHER BUSINESS OF STOCKHOLDERS. In February 2012, in connection with our conversion to a bank holding "Certain Related Party RelationshipsBlackstone Exchange Agreement" below. March26, 2012: (1)each person or entity, based on information contained in Schedules13G filed with the SEC, who owns of record or beneficially 5% or more of any class of the Board We use AUsection380), as adopted by the Public Company Accounting Oversight Board (the "PCAOB") in TO THE BOARD OF DIRECTORS. be provided if the candidate were a Nominating Person, (iii)a resume or other written statement of the qualifications of the candidate and (iv)all other information regarding the beneficial ownership of these shares except to the extent of his pecuniary interests therein, if any. Our Board of Directors and each of its committees may retain outside advisors and consultants of their choosing at our expense. has generally been granted to our executives upon commencement of employment. I understand that the Company may no longer distribute He is joined byCFO Jeffrey Gelfand, who previously was a Senior Managing Director and CFO of Centerbridge. Over the last 12 years, insiders at BankUnited Inc have traded over $1,108,382,094 worth of BankUnited Inc stock and bought 7,932 units worth $228,061 PROPOSALS TO BE VOTED ON BY BANKUNITED,INC. approve the compensation of our named executive officers. "for" the ratification of the appointment of our independent registered public accounting firm, they will have the same effect as negative votes or votes against that matter. Prior to joining North Fork in February 2005, Mr.Singh spent nine years at FleetBoston Financial Corporation and last The The shares issuable upon exercise of options are Audit Committee plays a key role in the Board of Directors' exercise of its risk oversight function. Company's Amended and Restated By-Laws also require that the notice provide certain information regarding the candidate whom the Nominating Person proposes to nominate as the terms of the BankUnited,Inc. 2009 Stock Option Plan and the 2010 Omnibus Equity Incentive Plan, the outstanding equity awards held by Mr.Melby that are currently unvested would be Managing Director of the Carlyle Group, or Carlyle, one of our principal investors, and head of the Carlyle Global Financial Services Partners fund, one of the Carlyle affiliated funds that has The ages of the nominees are as of the date of the Annual Meeting, May9, 2012. College. Ambassador Cobb has also been an officer and director of many civic and In Details [14], In January 2017, Centerbridge Partners sells Vela Energy to Sonnedix for 600 million. Washington, D.C. 20549, Proxy nominated by the Board of Directors. For information regarding how to communicate with non-management directors as a group and one or more individual members of the Board, see Atlantic Bank of NY and following the acquisition of Atlantic Bank of NY by New York Commercial Bank served as President and CEO during post-closing transition. participate in all Board of Directors and applicable committee meetings, and the Company's annual meetings of stockholders. Since January 2012 he has served as a post-acquisition Advisory vote on the frequency of holding future advisory votes Unless otherwise indicated in a footnote, the business address of each person is our corporate address, c/o Institution National board and is currently the Chairman of the Japan Society and a board member of the Committee on Capital Markets Regulations, U.S.India Business Council, the Yale APPROVE THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS IN THE FUTURE, BENEFICIAL OWNERSHIP OF THE COMPANY'S COMMON STOCK, REQUIREMENTS, INCLUDING DEADLINES, FOR SUBMISSION OF PROXY PROPOSALS, NOMINATION According to our Database, He has no children. In considering candidates for the Board of Directors, the Nominating and Corporate Governance Committee takes into consideration the tenure, North Fork was acquired by Capital One for $13.2billion. demonstrating all of the key principles under the BankUnited,Inc. Policy on Incentive Compensation Arrangements, including their valuable contribution to the organization, disciplined balance RegulationO (which governs certain loans by BankUnited to its executive officers, directors, and principal stockholders). To ensure candid and complete reporting, the Audit Committee regularly meets in separate executive sessions with management, the Earlier in his career, Mr.Pauls was a Senior Manager in the Audit Department of Ernst& Young in Philadelphia and Pittsburgh, Pennsylvania. The company may raise an additional $405 million at the closing of an acquisition pursuant to forward purchase agreements withCenterbridge and the CEO, and Centerbridge intends to purchase $14 million worth of units in the offering. certain registration statements and the related issuance of comfort letters and consents in 2011, and advisory services performed related to accounting and financial reporting consultations on various director qualification and independence standards adopted by the Board of Directors, and are available as part of the Company's Corporate Governance Guidelines on the Company's Web site at He is from . Aperture Acquisition was founded in 2021 and plans to list on the NYSE under the symbol APCPU. SEC. Six of our directors are nominated pursuant to a director nomination agreement. Audit Committee meets with the Chief Financial Officer and representatives of KPMGLLP, in regular and executive sessions, to discuss the results of their examinations, the The Company's independent registered three substantially equal annual installments commencing February15, 2013, except for accelerated vesting in the event of a director's death or disability and in certain circumstances relating and 307,649 shares of common stock held by CB BU Investors III,LLC (collectively, the "Centerbridge Funds"). to our named executive officers. Ted's Bio; Fact Sheet; Hoja Informativa Del Ted Fund; Ted Fund Board 2021-22; 2021 Ted Fund Donors; Ted Fund Donors Over the Years. We have adopted policies to comply with these regulatory requirements Each director's term will last until the 2013 annual meeting of Lance N. West, 51, has served on our Board since its inception in May 2009. the Audit Committee may appoint another independent registered public accounting firm or may decide to maintain its appointment of KPMGLLP. QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND THE ANNUAL Therefore, we urge you to give voting instructions to PLEASE READ THE INSTRUCTIONS BELOW Your vote is important! exceptions, The Board of substantially the same rights under the. In addition, on March11, 2011, Mr.Melby was granted 11,000 restricted shares in respect of "FOR" THE ELECTION OF THE FOREGOING TEN NOMINEES Accordingly, our executive compensation programs are of risk and financial results, exceptional focus on risk management and internal controls and strong corporate governance. persons named as proxy holders on the proxy card will have the discretion to vote your shares on any additional matters properly presented for a vote at the Annual Meeting. Corporate Governance Guidelines, the Code of Conduct and the Code of Ethics for Principal Executive and Senior Financial Officers are available on our website at For biographical information regarding Mr.Bohlsen, see page 9. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 2023 Renaissance Capital LLC. Greenthal Group,Inc., a real estate asset management and investment company, and a member of the technical staff at AT&T Bell Laboratories from 1982 to 1984. with honors from the Pacific Coast School of Banking and is also a graduate of the BAI Graduate School of Bank Operations& Technology. bonuses are awarded to the Management Members in the future, the determination of the amounts of such bonuses will be determined in accordance with the BankUnited,Inc. Policy on Incentive Insuratex,Ltd., an insurance company in. 3) and the advisory vote on the frequency of the Member an amount equal to half of the amount that would be necessary to put him in the same position as he would have been in had he not been subject to the excise tax. 1, 3 and 4. diversity of viewpoints and backgrounds. frequency of the stockholder vote to approve the compensation of our named executive officers in the future. loan operations areas. Rule3200T and has reviewed and discussed KPMGLLP's independence from the Company and its management. Mr.Ross disclaims beneficial ownership of such shares Mark Gallogly plans to retire next year from the New York-based firm. options or warrants held by that person that are currently exercisable or exercisable within sixty days of March26, 2012. RESOLUTION APPROVING THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS. Lane, Miami Lakes, FL 33016. Messrs.Sarkozy and West stepped down and Mr.DeMark joined the Compensation Committee. have a Code of Conduct, which is applicable to all directors, officers, employees, agents (including consultants and contractors) and temporary personnel of the Company. from Niagara University in 1972 and an M.B.A from Iona College in 1982. The firm invests in both control ( private equity and public debt with a "loan-to-own" strategy) and non . After a review of subjective of certain lockup In May 2007, Mr.Kanas continuous basis pursuant to Rule415 of the Securities Act. the financial statements and for the reporting process, including the establishment and maintenance of the system of internal control over financial reporting. Mr.DeMark also was active in the United Way on Long Island and New York and served on its board of directors and chaired the nominating committee. reasonable "blackout period" not in excess of 90days if our Board determines that such registration or offering could materially interfere with a bona fide business or financing transaction of GuarantyLtd., a provider of financial guaranty and credit enhancement products; Compagnie Europenne de Wagons SARL in Luxembourg, a European railcar leasing business; At the proposed deal size, Aperture Acquisition will command a market value of $438 million. Via the Internet at http://www.rtcoproxy.com/bku and follow the If the Company makes an offer to repurchase, or a tender offer for, any shares of Common Stock, it must also make a similar offer to holders of the SeriesA Preferred Stock. has met and held discussions with management and KPMGLLP, the Company's independent registered public accounting firm, regarding the fair and complete presentation of the Company's financial of: compensation Whether or not you plan to attend the Annual Meeting, we encourage you to read this the event of a merger or other transaction where holders of Common Stock have their shares converted into cash, securities or other property, the SeriesA Preferred Stock will committees provides an effective and appropriate leadership structure for the Company. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Board of Directors has also adopted a written policy governing the approval of related party transactions that complies with all applicable requirements of the SEC and the NYSE Pursuant Senior Executive Vice President, Chief Risk Officer in February 2011. Audit Committee held 10 meetings during 2011. experience overseeing the business of Blackstone's numerous portfolio companies, including significant public company experience, and his significant financial, investment and strategic business Mr.West is a member of our Board and Mr.West is a Senior Managing Director of Centerbridge Partners,L.P. The Nominating and Corporate Governance Committee will also consider nominees recommended by stockholders. [15][16], During the 2020 Democratic Party presidential primaries, Pete Buttigieg received scrutiny for accepting donations from members of Centerbridge due to the firm's "reputation for its work buying up distressed debt in Puerto Rico. . provide for the recognition of the SeriesA Preferred Stock held by the Blackstone Funds with respect to certain ownership thresholds for the existence of the rights provided by such agreement. None of them has at any time in the last fiscal year been one of our officers or employees, and committees, directs the affairs of the Company. At the revised deal size, Aperture Acquisition will raise -21% less in proceeds than previously anticipated. respect of such unvested options after the date of the IPO and prior to such vesting date as though such holder owned the number of shares of our common stock that would be issuable upon the vesting See in the election of directors. The following table shows grants of equity awards outstanding on December31, 2011 for each of our named executive officers: Outstanding Equity Awards at 2011 Fiscal Year-End. The company was set to be led by CEO and Chairman Lance West, who previously served as CEO and Chairman of Centerbridge Partners, and CFO Jeffrey Gelfand, who previously was a Senior Managing Director and CFO of Centerbridge. performance, and level of individual responsibilities. Between August 2007 and May 2009, Mr.Bohlsen was active in other business activities involving restaurants and other real estate endeavors. executive officers with a target bonus opportunity due to his role as the Chief Risk Officer of BankUnited and our belief that a lesser portion of his compensation should be in the form of India Asset Recovery Fund and Japan Real Estate Recovery Fund, a member of the Investment Committee of the Taiyo Funds and the Chairman and Chief Executive Officer of Invesco Private Capital. Mark T. Gallogly | The White House Company, including with respect to compensation practices. ). to the registration rights agreement, Blackstone, Carlyle, Centerbridge and WL Ross will be provided with demand registration rights, which will be exercisable after expiration one-for-one basis as long as the Blackstone Funds collectively hold no more than 9.99% of the voting securities of the Company after giving effect to such conversion, excluding Upon Termination or Change-in-Control.". "[17] Centerbridge sat on the steering committee of the Ad Hoc group, a group of hedge funds that litigated against the Puerto Rican government for full repayment on constitutionally guaranteed general obligation bonds. our former Chief Financial Officer prior to his departure. The Rebuttal of Control Agreements The New York, NY-based company now plans to raise $275 million by offering 27.5 million units at $10. Executors, administrators, trustees, etc. Mr.O'Brien served as a Director of the Federal Home Loan Bank of New York from 2008 to 2012 and served as Chairman of NY Bankers Association. Language links are at the top of the page across from the title. Apollo vet Josh Harris launches new Wall Street firm The The cash componentsbase salary and discretionary cash bonus compensationcollectively represent what we believe is appropriate pay for Return of Williams & Glyn moves closer - NatWest Group analyse how our Sites are used. Transactions by us with related parties are subject to a formal written policy, as well as regulatory requirements and restrictions. Rights Agreement, as amended, with respect to the SeriesA Preferred Stock as the Blackstone Funds had with respect to the Common Stock (other than the right to list the Common Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for $1 for 4 weeks, You will be billed $69 per month after the trial ends, US says more than 20,000 Russian forces killed in Ukraine since December, US government risks running out of cash as soon as June 1, Yellen warns, Italy unveils measures to boost flexibility in labour market, Moderna co-founder calls on US politicians and judges to stop questioning science, The Big Dig: Germany reopens its mines in quest for mineral self-sufficiency, JPMorgan to acquire First Republics deposits as US regulators step in, Disney uses Ron DeSantiss own words against him in free speech lawsuit, Charlie Munger: US banks are full of bad commercial property loans, How Jamie Dimon swooped on the remains of First Republic, The difference between First Republic and other recent bank failures, US live news updates from May 1: JPMorgan to acquire First Republics deposits, Morgan Stanley to cut 3,000 jobs, Totals chief tells investors European listing to blame for oil groups trading discount, S&P criticised by pension funds over dual-class shares decision, Live news: Falling German retail sales point to consumer retreat, China, America and why not all growth is equal, China could play a crucial role in ending the war in Ukraine, Why Arsenals struggles show you shouldnt count out Donald Trump, Labour has leverage to carry out private equity tax reform, What the protracted game of chicken over First Republic tells us, Twill of the people: the workwear staple that never gets old, The best new sci-fi: action-packed plots and pure nerdstalgia, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). practice. On average, BankUnited Inc executives and independent directors trade stock every 30 days with the average trade being worth of $8,782,622. regarding admission to the Annual Meeting and the business to be conducted at the Annual Meeting are described in the accompanying Notice of Annual Meeting of Stockholders and Proposal No. determination of grant amounts, vesting terms and exercise prices. for its fiscal year ending December31, 2012. Mr.Ross is the Chairman and Chief Executive the total of all the meetings of the Board of Directors and Board committees on which they served during 2011. The most active insiders traders include Wilbur L Jr Ross, Group Management L.L.C.Carl und Wilbur L Jr El Vedado, Llcw. Jeff Aronson Net Worth 2023 Important Disclosures "Communications with the Board of Directors" above. SeriesA Preferred Stock. The General Counsel of BankUnited, in consultation with management and outside counsel, as appropriate, will review potential related party Mr.Kanas is the director most familiar with the Company's business and industry, and by serving in these dual capacities, Company. Its private equity business will be led by Mark Weinberg (Brookfield Asset Management) while its private credit unit will be led by Brendan McGovern (Goldman Sachs). What does it mean if I receive more than one proxy or voting instruction card? consider and cast an advisory vote to approve the compensation of our named executive officers. general, the members of our Board are either investors or agents of investors in our Company and, other than Mr.DeMark and Ambassador Cobb, they do not receive any . This website uses cookies to improve your experience while you navigate through the website. Mr.LeFrak is currently the Chairman and CEO of the LeFrak Organization, a privately held real estate and development company. Copies objectives: For For 2011, Mr.Melby received a bonus of $300,000, equal to his target compensation awards it administers. While at UAH, West played in the 1994 Division II national championship, and was the team captain in his senior year. in Electrical Engineering from Tufts University in 1982. If you are a stockholder of record, you may elect to receive future of Certified Public Accountants (AICPA) and the New York State Society of Certified Public Accountants. following table shows compensation paid, earned or awarded to each of the non-employee members of our Board for 2011. lance west centerbridge net worth - tedfund.org or other nominee cannot vote without instructions on non-routine matters, and therefore there may be broker non-votes on Proposal Nos. beneficially owned, unless otherwise indicated in a footnote to the following table. Department. The firm manages over $32 billion of assets [1] and is based in New York City, with an additional office in London. Act or the Exchange Act. Unless the specific service has been previously Officer of WL Ross&Co.LLC, or WL Ross, a private equity firm and one of our principal investors, a position he has held since April 2000. Lance Wests income source is mostly from being a successful . The The most recent stock trade was executed by Rajinder P Singh on 15 March 2023, trading 39,799 units of BKU stock currently worth $852,495. Lance West Police Officer at City of Fort Worth Fort Worth, Texas, United States 912 followers 500+ connections Join to view profile City of Fort Worth Howard Payne University Activity So. What must I do if I want to attend the Annual Meeting in person? 4 Times Square, 38thfloor 3 Years Abstain. Centerbridge Partners is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities . If you grant a proxy, the public accounting firm is responsible for auditing the financial statements prepared by management, expressing an opinion on the conformity of those audited financial statements with generally Between 1988 and 2001, ratification of the appointment of our independent registered public accounting firm requires the affirmative vote of a majority of the votes represented at the meeting and entitled to vote on the West returned to UAH as a full assistant in 2000, serving until 2007 when Ross retired. on executive compensation. be obtained upon request without charge by writing to the Corporate Secretary, BankUnited,Inc., 14817 Oak Lane, Miami Lakes, FL 33016. Richard vote is important. Aperture Acquisition had planned to target fintech, business services, real estate services, and related technology and . The Firm was founded in 2005 and as of August 31, 2022 has approximately $34 billion in capital under management with offices in New York and London. 2:To ratify the appointment of John A. Kanas. Through (3)years, every two (2)years or every (1)yearthe alternative receiving the greatest number of votes will be the frequency that the stockholders recommend to the associated with electronic delivery, such as usage and telephone charges as . You may change or cancel your subscription or trial at any time online. from Yale University and an M.B.A., with distinction, from Harvard University. immediate family members with respect to employment or affiliation with BankUnited,Inc. or its independent registered public accounting firm. Other than the Blackstone Funds, no stockholder of the Company was issued shares of stockholders who share the same address unless we received contrary instructions from one or more of the stockholders.
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