Company: MGRC
Filing Date: 2025-06-04
Form Type: 11-K
Source: 0000950170-25-081595
Chunk: 4

Company: MCGRATH RENTCORP
Filing Date: 2025-06-04
Form: 11-K
Chunk 4
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 per participants investment instructions and 50% to the MGRC Unitized Stock Fund with the option to transfer such amounts as the participant directs after it is contributed. The Company may also make additional discretionary contributions, which, if made, are allocated based on the units held by each eligible participant. For this purpose, a participant is considered to have one unit for each $1,000 of compensation during the plan year plus two units for each year of service. Highly compensated employees do not receive unit credit for any years of service. Trust income or loss is allocated based on the respective account balances of participants. There were no discretionary contributions to the plan in 2024. Vesting A participant receives one year of credited service for vesting purposes at the end of each Plan year in which he or she completes 1,000 hours of service, starting with their first hour of employment, and regardless of whether or not he or she completes twelve months of service during the first year. A participant’s account balance is 100 percent vested upon death, disability, or normal retirement (age 65). A participant is always fully (100 percent) vested in his or her salary reduction contributions, employer Safe Harbor matching contributions, and rollover contributions, plus actual earnings thereon. In the event the Company elects to make a discretionary non-elective contribution, the participant vests in his or her contributions over a six year graded vesting schedule as follows:

| Years of Credited Service     | Vesting Percentage |
| Less than 2 years             | 0%                 |
| 2 years but less than 3 years | 20%                |
| 3 years but less than 4 years | 40%                |
| 4 years but less than 5 years | 60%                |
| 5 years but less than 6 years | 80%                |
| 6 or more years               | 100%               |

The vesting schedule will be accelerated and the Company’s contributions and KSOP allocations will be modified if the KSOP becomes a “top heavy plan” under the Code. Forfeitures Any forfeited KSOP benefits are allocated in the same manner as the Company’s contributions among the accounts of participants who remain employed throughout the year and have worked a minimum number of hours or whose employment has terminated due to death, disability or normal

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retirement during that year. Forfeitures can be used to pay plan administrative expenses, reduce employer contributions, or increase benefits to