Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 122

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 122
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 dividend equivalent rights, and other awards, which may be granted singly or in combination, and that may be paid in cash or shares of our common stock as applicable. The 2025 Equity Incentive Plan is expected to provide flexibility to our compensation methods in order to adapt the compensation of our key employees, key contractors, and directors to a changing business environment, after giving due consideration to competitive conditions and the impact of applicable tax laws.

Effective Date and Expiration . The 2025 Equity Incentive Plan was approved by HomeStreet’s board of directors on June 23, 2025, subject to (i) approval by our shareholders and (ii) the closing of the merger. The 2025 Equity Incentive Plan will terminate on the tenth anniversary of the Effective Date, unless sooner terminated by the compensation committee (the “Committee”) of HomeStreet’s board of directors. No award may be granted under the 2025 Equity Incentive Plan after its termination date, but awards made prior to the termination date may extend beyond that date in accordance with their terms.

Shares Available . The 2025 Equity Incentive Plan provides that the aggregate number of shares of our common stock that may be subject to awards under the 2025 Equity Incentive Plan cannot exceed 7,750,000, plus any shares underlying awards granted pursuant to the Prior Plan that are outstanding on the Effective Date (“Prior Plan Awards”) that become available for issuance under the 2025 Equity Incentive Plan under limited circumstances described in the “ Administration ” section below, subject to adjustment in certain circumstances to prevent dilution or enlargement. 100% of the shares available for issuance as an award under the 2025 Equity Incentive Plan may be delivered pursuant to incentive stock options. Other than during the first calendar year in which a non-employee director has been elected to serve on our board of directors, no such non-employee director (other than the Chairman) may be granted awards under the 2025 Equity Incentive Plan in any calendar year that, when taken together with all cash retainers and other fees paid to the director for services to HomeStreet for the same calendar year, would exceed $750,000 in the aggregate (with the value of any equity awards determined as of the date of grant). No more than 5% of the shares of our common stock that may be issued pursuant to awards under the 2025 Equity Incentive Plan may be designated as Exempt Shares (as defined below).