Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 245

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 245
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, among others, the following:

| • | at the effective time, each outstanding HomeStreet RSU will remain outstanding and be continued 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; |

| • | at the effective time, any vesting conditions applicable to each outstanding HomeStreet PSU, whether vested or unvested, will automatically accelerate, and each such HomeStreet PSU will be cancelled and entitle the holder to receive (1) a number of shares of 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; |

| • | HomeStreet, Mechanics and Mark K. Mason have entered into the consulting agreement, which will commence on the first day following the effective time of the merger and which provides for certain compensation and benefits in connection with Mr. Mason’s service to HomeStreet and Mechanics following the closing of the merger; |

| • | Mr. Mason will also be entitled to receive payment of the severance payments and benefits contemplated by, and in accordance with, the applicable change in control severance terms of his employment agreement with HomeStreet, as modified by the consulting agreement; |

| • | each other HomeStreet executive officer is entitled to certain change in control severance payments and benefits upon a qualifying termination of employment within 90 days prior to or within 12 months following the consummation of the merger; |

| • | one of HomeStreet’s directors will continue to serve as a director of the combined company following the closing of the merger; and |

| • | pursuant to the terms of the merger agreement, HomeStreet’s present and former directors and executive officers are entitled to indemnification and advancement of expenses, and six (6) years of continued liability insurance coverage, either by way of obtaining at or prior to the effective time a six (6) year “tail” policy under HomeStreet’s existing liability or insurance policy, or, if such a policy is not available, by maintaining its existing liability insurance policy for a period of six (6) years after the effective time. See the section entitled “—Indemnification; Directors’ and Officers’ Insurance” for more information. |

The HomeStreet board of