Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 124

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 124
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 SAR entitles the holder to receive from us, upon exercise, an amount equal to the excess, if any, of the aggregate fair market value of a specified number of shares of HomeStreet common stock to which such SAR pertains over the aggregate exercise price for the underlying shares. The exercise price of a SAR shall not be less than 100% of the fair market value of a share of HomeStreet common stock on the date of grant.

Each SAR will be evidenced by an award agreement that specifies the exercise price, the number of shares to which the SAR pertains, and such additional limitations, terms, and conditions as the Committee may determine. We may make payment of the amount to which the participant exercising SARs is entitled by delivering shares of HomeStreet common stock, cash, or a combination of stock and cash as set forth in the award agreement relating to the SARs. SARs are not transferable except as expressly permitted by the Committee. No dividend or dividend equivalent rights may be paid or granted with respect to any SARs granted under the 2025 Equity Incentive Plan.

Restricted Stock . The 2025 Equity Incentive Plan provides for the award of shares of HomeStreet common stock that are subject to forfeiture and restrictions on transferability as set forth in the 2025 Equity Incentive Plan, the applicable award agreement, and as may be otherwise determined by the Committee. Except for these restrictions and any others imposed by the Committee, upon the grant of restricted stock, the recipient will have rights of a shareholder with respect to the restricted stock, including the right to vote the restricted stock and to receive any dividends paid or made with respect to the restricted stock on such terms as will be set forth in the applicable award agreement; provided, however, that such dividends shall be withheld by us for a participant’s account until the restrictions lapse with respect to such restricted stock. During the restriction period set by the Committee, the recipient may not sell, transfer, pledge, assign, or otherwise encumber the restricted stock.

Restricted Stock Units . The 2025 Equity Incentive Plan authorizes the Committee to grant restricted stock units. Restricted stock units are not shares of HomeStreet common stock and do not entitle the recipients to the rights of a shareholder, although the award agreement may provide for rights with respect to dividends or dividend equivalents. The recipient may not sell, assign, transfer, pledge, hypothecate or otherwise encumber restricted stock units granted under the 2025 Equity Incentive Plan prior to their vesting.