Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 39

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 39
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 common stock, HomeStreet will pay to each Mechanics shareholder who otherwise would be entitled to receive a fractional share an amount in cash rounded to the nearest cent. This cash amount will be determined by multiplying (i) the average of the closing-sale prices of HomeStreet common stock on the Nasdaq or NYSE, as applicable, as reported by The Wall Street Journal for the consecutive period of five (5) full trading days ending on the day preceding the closing date by (ii) the fraction of a share (after taking into account all shares of Mechanics common stock held by such holder immediately prior to

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the effective time and rounded to the nearest thousandth when expressed in decimal form) of HomeStreet common stock which such holder would otherwise be entitled to receive pursuant to the merger agreement (and, in the case of rounding in respect of Class B common stock, multiplied by ten (10), subject to adjustment as provided in the amended articles). For more information on the exchange ratios, see the section entitled “ The Merger—Terms of the Merger” beginning and the section entitled “ The Merger Agreement—Merger Consideration.” Treatment of HomeStreet Equity Awards (page 169) At the effective time, outstanding HomeStreet Equity Awards will be treated as follows:

| • | each outstanding HomeStreet RSU will remain outstanding and be continued subject to the same terms and conditions (including vesting terms and terms with respect to dividend equivalents) as applied immediately prior to the effective time; and |

| • | any vesting conditions applicable to each outstanding HomeStreet PSU, whether vested or unvested, will automatically accelerate, and each such HomeStreet PSU will be cancelled and entitle the holder to receive (1) a number of shares of the Class A common stock equal to the number of shares of HomeStreet common stock (immediately prior to the effective time) subject to such HomeStreet PSU based on target performance plus (2) an amount in cash equal to the amount of all dividends, if any, accrued but unpaid as of the effective time with respect to such HomeStreet PSU based on target performance. |

Treatment of Mechanics Equity Awards The Mechanics equity awards held by Mechanics’ directors and executive officers immediately prior to the effective time will be adjusted to reflect the merger in the same manner as those Mechanics equity awards held by other employees generally. At the effective time, each outstanding Mechanics RSU will automatically be converted into an Assumed HomeStreet RSU in respect of the number of shares