Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 248

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 248
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979 |     |   $153,308 |     |   $180,170 |

| (1) | In addition to the HomeStreet Equity Awards and HomeStreet Cash LTI discussed elsewhere in this section, HomeStreet entered into a Deferred Compensation Agreement with Mr. Mason, effective as of January 1, 2024 (the “CEO Cash Award”), in respect of $119,093, subject to the achievement of certain specified performance measures. The CEO Cash Award provides that, if a Change in Control (as defined in the CEO Cash Award) of HomeStreet, such as the merger, occurs during the performance period ending December 31, 2026, then the CEO Cash Award will be deemed to have vested at 100% of the target level on a “single-trigger” basis on the effective date of such Change in Control. The CEO Cash Award is included in the amounts for Mr. Mason set forth in the section entitled “Golden Parachute Compensation.” |

These amounts do not attempt to forecast any additional equity award grants, issuances or forfeitures that may occur prior to the closing of the merger following the date of this proxy statement/prospectus/consent solicitation statement. As a result of the foregoing assumptions, which may or may not actually occur or be accurate on the relevant date, the actual amounts, if any, to be received by HomeStreet’s executive officers may materially differ from the amounts set forth above. Consulting Agreement with Mark K. Mason Following the Merger Mark K. Mason, HomeStreet and Mechanics have entered into a consulting agreement, dated March 28, 2025 (the “consulting agreement”). Pursuant to the consulting agreement, effective on the first day following the effective time of the merger, Mr. Mason’s employment with HomeStreet and HomeStreet Bank will terminate, with such termination constituting a resignation for Good Reason (as defined in the consulting agreement) for purposes of the

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employment agreement between HomeStreet, HomeStreet Bank and Mr. Mason, dated January 25, 2018, as amended (the “HomeStreet CEO Employment Agreement”). In connection with such termination of employment, pursuant to the consulting agreement, Mr. Mason will be entitled to receive the following severance payments and benefits in full satisfaction of the severance payments and benefits to which he would be entitled under the terms of the HomeStreet CEO Employment Agreement upon a qualifying termination of employment for Good Reason following a Change in Control (each capitalized term, as defined in the Home