Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 329

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 329
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 does not receive shares in the surviving entity that have terms as favorable to the shareholder in all material respects and that represent at least the same percentage interest of the total voting rights of the outstanding shares of the surviving entity as the shares held by the shareholder before the conversion. 
 The amended and restated articles and amended and restated bylaws do not provide a separate right to appraisal or dissenters’ rights.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Amendments to Charter/Articles and Bylaws |     | Under the CGCL, amendments to a corporation’s articles of incorporation may be adopted if approved by the board of directors and a majority of the outstanding shares entitled to vote. 
 Under the CGCL, a corporation’s board of directors may adopt, amend or repeal                                                                                                           |     | Under the WBCA, the amended and restated articles may be amended if (subject to certain exceptions if the board of directors determines that it has a conflict of interest) the amendment is first, approved and recommended by the combined company board, then approved by the shareholders upon the                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |

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TABLE OF CONTENTS

| Mechanics                                                                                                                                                                                                                                                                                                                              |     | Combined Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| a corporation’s bylaws unless the action would materially and adversely affect the rights of members as to voting or transfer, subject to certain exceptions. A California corporation’s shareholders may adopt, amend or repeal the bylaws even though the bylaws may also be adopted, amended or repealed by its board of directors. 
 The Mechanics bylaws provide that the Mechanics board of directors may amend or repeal the Mechanics bylaws (other than an amendment or repeal changing the range of the authorized number of directors), subject to amendment or repeal by Mechanics shareholders.                                                                    |     | affirmative vote of a majority of the votes entitled to be cast in each class entitled to vote on the amendment. The articles are permitted to require a different vote, or a different vote by separate voting groups, so long as the required vote is not less than a majority of all the votes entitled to be cast on the amendment and each other voting group entitled to vote separately on the amendment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 Under the WBCA, a corporation’s board of directors may amend or repeal the corporation’s bylaws unless the corporation’s articles of incorporation or Washington law reserves the power to amend the bylaws exclusively to the shareholders in whole or in part, or the shareholders, in amending or repe