Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 119

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 119
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 be effective as of no later than the closing of the merger (the date of the closing assuming shareholder approval, the “Effective Date”), on such market-appropriate terms and in such form as shall be determined in good faith jointly by HomeStreet and Mechanics for the anticipated post-closing surviving entity. Mechanics has determined that the Mechanics Bancorp 2025 Equity Incentive Plan, referred to herein as the 2025 Equity Incentive Plan, is acceptable to Mechanics, and, in accordance with the terms of the merger agreement, Mechanics and HomeStreet have reviewed the terms of such plan and have determined in good faith jointly that it is market-appropriate for the anticipated post-closing surviving entity. Accordingly, HomeStreet is asking its shareholders to approve the 2025 Equity Incentive Plan, which if so approved will become effective on Effective Date. The 2025 Equity Incentive Plan will enable the combined company to retain key employees, key contractors and directors in a competitive labor market and encourage their ownership of its common stock. The 2025 Equity Incentive Plan was approved by HomeStreet’s board of directors on June 23, 2025, subject to shareholder approval and the occurrence of the Effective Date. It is intended to appropriately position the combined company to implement effective, market-competitive equity compensation awards following the completion of the merger for its new and existing employees, officers, directors and contractors, to incent, retain and reward those critical to the combined company’s success. As shown in the following table, the estimated number of shares of HomeStreet common stock outstanding after giving effect to the share issuance described elsewhere in this proxy statement/prospectus/consent solicitation statement (but not including Mechanics RSUs to be assumed in connection with the merger) is equal to approximately 220,920,808. If HomeStreet’s shareholders approve the 2025 Equity Incentive Plan, then subject to adjustment in the event of stock splits, dividends or similar changes in capitalization, up to 7,750,000 shares of Class A common stock, or approximately 3.5% of the number of HomeStreet common stock estimated to be outstanding after giving effect to the share issuance, may be delivered pursuant to awards under the 2025 Equity Incentive Plan at and following the Effective Date, of which 100% may be granted pursuant to incentive stock options. The following table includes information regarding (i) all of HomeStreet’s outstanding equity awards under all of HomeStreet’s equity-based compensation plans or arrangements under which