Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 171

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 171
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anics Bank”. |

| (c) | For 2024, represents cash awards earned under Mechanics’ Annual Incentive Plan for performance during 2024, but paid in 2025. For 2023, represents cash awards earned under Mechanics’ Annual Incentive Plan for performance during 2023, but paid in 2024. |

| (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