Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 305

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 305
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 received the fractional share of HomeStreet common stock pursuant to the merger and then as having sold that fractional share for cash. As a result, generally such a holder will recognize gain or loss equal to the difference between the amount of cash received and the basis allocable to such holder’s fractional share of HomeStreet common stock. This gain or loss generally will be capital gain or loss, and will be long-term capital gain or loss if, as of the effective time, the holding period for the shares (including the holding period of Mechanics common stock surrendered therefor) is greater than one year. The deductibility of capital losses is subject to limitations.

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Backup Withholding Payments of cash to a non-corporate U.S. holder of Mechanics common stock in connection with the merger may be subject to information reporting and backup withholding (currently at a rate of 24%). A U.S. holder of Mechanics common stock generally will not be subject to backup withholding, however, if the holder:

| • | furnishes a correct taxpayer identification number, certifies that the holder is not subject to backup withholding on IRS form W-9 (or an applicable substitute or successor form) included in the election form/letter of transmittal the holder will receive and otherwise complies with all the applicable requirements of the backup withholding rules; or |

| • | provides proof of an applicable exemption from backup withholding. |

Any amounts withheld under the backup withholding rules are not additional tax and will generally be allowed as a refund or credit against the holder’s United States federal income tax liability, provided the required information is timely furnished to the IRS. In addition, U.S. holders of Mechanics common stock who receive HomeStreet common stock as a result of the merger are required to retain permanent records and make such records available to any authorized IRS officers and employees. The records should include the number of shares of Mechanics common stock exchanged, the number of shares of HomeStreet common stock received, the fair market value and tax basis of Mechanics common stock exchanged and the U.S. holder’s tax basis in the HomeStreet common stock received. If a U.S. holder of Mechanics common stock that exchanges such stock for HomeStreet common stock is a “significant holder” with respect to Mechanics and is required to file a U.S. income tax return, the U.S. holder is required to include a statement with respect to the exchange on or with the federal income tax return of the U.S. holder for the year of the exchange, and to retain permanent records of the