Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 49

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 49
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 of the members of the Mechanics board of directors immediately prior to the effective time (the “legacy Mechanics directors”), including Carl B. Webb, who will serve as Executive Chairman of the board of directors of the combined company, and one (1) director who was a member of the HomeStreet board of directors immediately prior to the effective time and designated by Mechanics (the “legacy HomeStreet director”).

Following the effective time, pursuant to the registration rights agreement, as long as Rabobank and its permitted transferees (the “Rabobank Parties”) beneficially own, in the aggregate, at least 4.9% of the outstanding capital stock

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and other classes of equity securities of the combined company, the Rabobank Parties will have the right to appoint one (1) observer to the combined company board of directors, and from and after such time as the Rabobank Parties acquire additional shares of the combined company’s voting common stock such that they beneficially own, in the aggregate 9.9% or more of the combined company’s voting common stock, the Rabobank Parties will have the right to appoint one (1) director to the combined company board of directors (subject to the combined company’s board of directors’ reasonable approval). Immediately following the effective time, the board of directors of the combined company is expected to consist of: Carl B. Webb, E. Michael Downer, Patricia Cochran, Adrienne Crowe, Douglas Downer, Kenneth D. Russell, Jon Wilcox and Nancy D. Pellegrino.

**Committees of the Combined Company Board of Directors Following the Merger**

The HomeStreet board of directors has an established standing executive committee, audit committee, compensation committee, enterprise risk management committee, and nominating and governance committee, each of which operate pursuant to a charter adopted by the HomeStreet board of directors. After completion of the merger, the combined company’s board of directors will continue to have such standing committees, other than the executive committee. Because the combined company will be a “controlled company” under the corporate governance standards of NASDAQ or the NYSE, the combined company is not required to have a compensation committee composed of independent directors or a nominating and corporate governance committee composed of independent directors.

### Management of the Combined Company after the Merger
HomeStreet and Mechanics have announced members of the resulting executive management team of the combined company will consist of certain current executive officers of HomeStreet or