Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 272

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 272
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 B common stock, multiplied by ten (10), subject to adjustment as provided in the amended articles). Surviving Organizational Documents At the effective time, the articles of incorporation of the combined company will be the amended and restated articles, as amended and restated in accordance with the merger agreement pursuant to the articles amendment, as in effect immediately prior to the effective time of the merger. At the effective time, the bylaws of the combined company will be the amended and restated bylaws, as amended and restated in accordance with the merger agreement, as in effect immediately prior to the effective time of the merger. At the effective time, the Mechanics charter, as in effect immediately prior to the effective time of the merger, will be the articles of incorporation of Mechanics as the surviving bank in the merger. At the effective time, the bylaws of Mechanics, as in effect immediately prior to the effective time of the merger, will be the bylaws of Mechanics as the surviving bank in the merger. Treatment of HomeStreet Equity Awards The merger agreement provides that upon completion of the merger, outstanding HomeStreet equity awards will be treated as follows:

| • | at the effective time, each outstanding HomeStreet RSU granted under the Equity Incentive Plan 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; and |

| • | at the effective time, any vesting conditions applicable to each outstanding HomeStreet PSU granted under the Equity Incentive Plan, 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 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. |

For more detail on the HomeStreet Equity Awards of HomeStreet executive officers, see the section entitled “ The Merger—Interests of HomeStreet’s Directors and Executive Officers in the Merger.” Treatment of Mechanics Equity Awards Upon completion of the merger, each outstanding Mechanics RSU granted under the Mechanics 2017 Incentive Unit Plan or 2022 Omnibus Incentive Plan will automatically be converted into an Assumed Home