Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 253

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 253
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 | Equity.As described in the section above entitled “—Treatment of HomeStreet Equity Awards and Cash-Based Awards,” the amount shown represents the potential value that each named executive officer could receive in connection with the accelerated vesting of HomeStreet RSUs and HomeStreet PSUs, calculated as follows: |

| Name                |     | HomeStreet 
       RSUs 
     ($)(a) |     | HomeStreet 
       PSUs 
     ($)(b) |     | Value of All Equity 
              Awards 
                 ($) |
| Mark K. Mason       |     |   $426,567 |     |   $569,114 |     |            $995,681 |
| John M. Michel      |     |   $146,492 |     |   $249,824 |     |            $396,316 |
| William D. Endresen |     |   $107,336 |     |   $183,051 |     |            $290,387 |

| (a) | As disclosed above, each HomeStreet RSU will remain outstanding and be subject to the same terms and conditions (including vesting terms and terms with respect to dividend equivalents), as applied immediately prior to the effective time. The amounts shown reflect the market value of the HomeStreet RSUs that would accelerate on a “double-trigger” basis in the event that a named executive officer experiences a qualifying termination within one year following the change in control, based on the per share value of HomeStreet common stock of $11.81, which is the average closing price of HomeStreet’s common over the first five (5) trading days following the first public announcement of the merger. The ultimate value of accelerated vesting for the foregoing HomeStreet RSUs will depend on the HomeStreet common stock price on the date of acceleration. |

| (b) | At the effective time, all HomeStreet PSUs will automatically accelerate on a “single-trigger” basis, be cancelled and entitle the holder to receive (1) a number of shares of the Class A common stock equal to the number of shares of HomeStreet common stock (immediately prior to the effective time) subject to such HomeStreet PSU based on target performance plus (2) an amount in cash equal to the amount of all dividends, if any, accrued but unpaid as of the effective time with respect to such HomeStreet PSU based on target performance. The amounts shown are based on the per share value of HomeStreet common stock of $11.81, which is the average closing price