Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 268

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 268
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 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 HomeStreet RSU in respect of the number of shares of the Class A common stock (rounded to the nearest whole share) equal to (1) the total number of shares of Mechanics common stock subject to the Mechanics RSU immediately prior to the effective time multiplied by (2) the Class A exchange ratio. Each Assumed HomeStreet RSU will otherwise remain subject to the same terms and conditions (including vesting terms, performance measures, and terms with respect to dividend equivalents) as applied to the corresponding Mechanics RSU immediately prior to the effective time.

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#### TABLE OF CONTENTS

#### Closing and Effective Time of the Merger
The merger will be completed only if all conditions to the merger discussed in this proxy statement/prospectus/consent solicitation statement and set forth in the merger agreement are either satisfied or waived (subject to applicable law). Please see the section entitled “ —Conditions to Complete the Merger ” for more information.

The merger will become effective when the merger agreement is filed with and accepted by the CDFPI in accordance with Section 4887(b) of the California Financial Code. The closing of the merger will take place on a date no later than the first day of the first calendar month after the satisfaction or waiver by the party entitled to the benefit thereof (subject to applicable law) of the last of the conditions to the merger, unless mutually agreed by the parties.

It currently is anticipated that the completion of the merger will occur in the third quarter of 2025 subject to the receipt of HomeStreet shareholder approval, regulatory approvals and other customary closing conditions, but neither HomeStreet nor