Company: MCHB
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001518715-25-000066
Chunk: 52

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 52
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 merger process. Assumed oversight of real estate and facilities group at end of 2024.                                                                                                                                                                             |
| Maintain effective controls over financial reporting and accounting functions.             |     | Did not receive any significant adverse findings or material adverse comments from financial, regulatory and internal audit examinations and audits.                                                                                                                                                                                                                  |

2024 Annual Incentive Plan Results

Based on the corporate results and the evaluation of individual performance achievements described above, the Compensation Committee approved the following Annual Incentive Plan incentive award payouts:

| Non-Commissioned NEO |     | Corporate    
 Component    
 (% of Target 
 Achieved)    |      |   |     | Individual   
 Component    
 (% of Target 
 Achieved)    |       |   |     | Overall Award 
 (As a % of a  
 Target        
 Opportunity)  |      |   |     | Actual 
 Payout 
 ($)    |         |
| Mark K. Mason(1)     |     |              | 12.2 | % |     |              | 150.0 | % |     |               | 39.8 | % |     |        | 253,570 |
| John M. Michel(2)    |     |              | 12.2 | % |     |              | 150.0 | % |     |               | 39.8 | % |     |        | 116,100 |

(1) Mr. Mason was awarded 150% of target for his individual performance given his leadership through the proposed merger process, including effective termination of the merger, and the prompt implementation of the revised strategic plan upon termination of the merger.

(2) Mr. Michel was awarded 150% of target for his individual performance given his support of the strategic activities related to the proposed merger and prompt implementation of the revised strategic plan.

#### Commissioned NEO Incentive Plan Arrangements
Mr. Endresen, our commissioned NEO, is eligible for annual incentive awards under a separate arrangement, which provides for payout opportunities based on business unit performance results to incentivize him to generate profitable quality loans for HomeStreet Bank, which aligns with his roles and responsibilities. We believe a commissioned program is consistent with competitor practices for similar positions and generally provides for a larger portion of his compensation to be at-risk.

Mr. Endresen’s incentive plan is comprised of two parts: a production incentive, which is paid out monthly and a profitability incentive, 50% of which is paid out quarterly with the remaining 50% paid in the following