Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 168

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 168
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| (d) | Includes amounts paid during 2024 and 2023, as applicable, for car allowance, 401(k) match and HSA contributions. The 2024 amount for Mr. DeCero also includes certain payments made in connection with his retirement from Mechanics, including a severance payment of $1,467,208. See the section entitled “Mechanics Executive Compensation; Directors and Executive Officers—Potential Payments upon Termination or Change in Control” below. |

| (e) | Mr. Johnson is an employee of and is compensated by GJF Management pursuant to the Bank Services Agreement between Mechanics and GJF Management, and did not receive any direct compensation from Mechanics in 2024. |

| (f) | Mr. Johnson was named Chief Executive Officer in February 2024. |

Narrative Disclosure to Summary Compensation Table Pursuant to that certain Bank Services Agreement, as amended, between Mechanics and GJF Management, Mechanics compensates GJF Management up to $10 million per annum for services rendered by GJF Management, and GJF Management compensates certain personnel of Ford Management II, L.P. and Ford Management III, L.P., including Mr. Johnson, for their services to Mechanics. Seethe section entitled “ Certain Relationships And Related Party Transactions of the Combined Company”for more information on the Mechanics Bank Services Agreement.

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Employment Agreements with Mechanics’ Named Executive Officers Mechanics does not maintain any employment agreements with its NEOs. Mechanics does, however, maintain change in control agreements with its active named executive officers other than Mr. Johnson. See the section entitled“ Mechanics Executive Compensation; Directors and Executive Officers—Potential Payments upon Termination or Change in Control” below. Annual Incentive Plan and Awards The Mechanics Annual Incentive Plan provides for annual performance-based cash bonuses to key employees who are selected by the compensation committee of the Mechanics board of directors for participation in the plan. The Annual Incentive Plan is designed to reward executives whose performance during the fiscal year enabled Mechanics to achieve favorable business results and to assist Mechanics in attracting and retaining executives. A participant may receive a cash bonus under the Annual Incentive Plan based on the attainment, during each performance period, of certain individual and corporate performance objectives that are established by the compensation committee in support of Mechanics’ business strategy. These performance objectives may be based on one or more performance criteria. The performance objectives may be applied with respect to Mechanics or any one or more of its