Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 133

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 133
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, suspend, or discontinue the 2025 Equity Incentive Plan, in whole or in part provided, however, that (i) no amendment that requires shareholder approval in order for the 2025 Equity Incentive Plan and any awards under the 2025 Equity Incentive Plan to continue to comply with Sections 421 and 422 of the Code (including any successors to such sections or other applicable law) or any applicable requirements of any securities exchange or inter-dealer quotation system on which our stock is listed or traded shall be effective unless such amendment is approved by the requisite vote of our shareholders entitled to vote on the amendment; and (ii) unless required by law, no action by the Committee regarding the amendment or discontinuance of the 2025 Equity Incentive Plan may materially adversely affect any rights of any participants or our obligations to any participants with respect to any outstanding awards granted under the 2025 Equity Incentive Plan without the consent of the affected participant.

No Repricing of Stock Options or SARs . The Committee may not “reprice” any stock option or SAR, without shareholder approval. For purposes of the 2025 Equity Incentive Plan, “reprice” means any of the following or any other action that has the same effect: (i) amending a stock option or SAR to reduce its exercise price; (ii) canceling a stock option or SAR at a time when its exercise price exceeds the fair market value of a share of our common stock in exchange for cash or a stock option, SAR, award of restricted stock, or other equity award; or (iii) taking any other action that is treated as a repricing under generally accepted accounting principles, provided that nothing will prevent the Committee from (x) making adjustments to awards upon changes in capitalization, (y) exchanging or canceling awards upon a merger, consolidation, or recapitalization, or (z) substituting awards for awards granted by other entities, to the extent permitted by the 2025 Equity Incentive Plan.

#### Federal Income Tax Consequences
The following is a brief summary of certain federal income tax consequences relating to the transactions described under the 2025 Equity Incentive Plan as set forth below. This summary does not purport to address all aspects of federal income taxation and does not describe any potential state, local, or foreign tax consequences. This discussion is based upon provisions of the Code and the applicable Treasury Regulations issued thereunder, as well as judicial and administrative interpretations under the