Company: MCHB
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001518715-25-000066
Chunk: 55

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 55
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 |     |        | 32,104 |
| William D. Endresen |     |       | 121,138 |     |        | 11,761 |     |       | 133,017 |     |               | 11,761 |     |       | 254,155 |     |        | 23,522 |

The PSUs are earned and vested based on achieving a specified company performance result and continued employment over the three-year performance period. In each case, the vesting of the award is also contingent on the NEO’s employment with the Company not having been terminated for any reason other than retirement, death or

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disability prior to the date the Compensation Committee certifies the achievement of the performance goal for the relevant performance period.

The RSUs awarded annually as part of our long-term incentive plan vest incrementally in three equal installments on the first, second and third anniversaries from the grant date. In each case, the vesting of the award is contingent on the NEO’s employment with the Company not having been terminated for any reason other than retirement, death or disability prior to the applicable vesting date.

A Closer Look at PSUs.

PSUs are designed to focus the NEOs on long-term value creation for shareholders. PSUs are earned and vest at the end of a three-year performance period based on the Company’s total shareholder return (“TSR”) relative to a peer group.

TSR is calculated as the change in share price from January 1, of the beginning of the three-year period to December 31 at the end of the three-year period assuming that all dividends are reinvested in shares on the date paid. The PSU peer group consists of all companies included in the KBW Regional Banking Index at the end of the Performance Period (excluding the Company itself, if it happens to be a component company on that date). For results in between the 25 th and 50 th or 50 th and 75 th , there will be a straight-line interpolation calculation. If achievement is below the 25 th percentile or the Company’s absolute TSR over the performance period is negative, then 0% of the PSUs will vest.

|                          |     | Threshold      |     | Target         |     | Maximum        |
| Relative TSR performance |     | 25thpercentile |     | 50thpercentile |     | 75thpercentile |
| Payment as a % of target |     |