Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 261

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 261
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 common stock are currently listed on Nasdaq under the symbol “HMST.” Pursuant to the merger agreement, HomeStreet has agreed to prepare and file a listing application with the NASDAQ or NYSE to cause the outstanding shares of HomeStreet common stock and shares of HomeStreet common stock to be issued in the merger to be approved for listing on the NASDAQ or NYSE prior to the effective time. There can be no assurance that HomeStreet will obtain such approval from NASDAQ.

In addition, under the merger agreement, Mechanics’ obligation to complete the merger is subject to the satisfaction or waiver, at or prior to the merger, of various conditions, including that the shares of HomeStreet common stock to be issued in the merger have been approved for listing on the Nasdaq or NYSE, subject to official notice of issuance.

#### Controlled Company
Following the consummation of the merger, the Ford Entities and their controlled affiliates will control approximately 77.7% of the voting power of the combined company. The combined company will therefore be a “controlled company” for purposes of NASDAQ listing rules and Section 303A of the NYSE Listed Company Manual and will qualify for, and intends to rely on, exemptions from certain governance standards that would otherwise be applicable.

Under NASDAQ listing rules and Section 303A of the NYSE Listed Company Manual, a company of which more than 50% of the voting power is held by an individual, a group or another company is a “controlled company” and

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is exempt from certain corporate governance requirements that would otherwise require the combined company to have (i) a nominating committee comprised solely of independent directors or select or recommend director nominees by a majority of the independent directors and (ii) a compensation committee comprised solely of independent directors. It is Mechanics’ intent for the combined company to rely on these exemptions. The controlled company exemption does not modify the independence requirements for the audit committee, and it is Mechanics’ intent for the combined company to continue to comply with the requirements of NASDAQ or NYSE rules with respect thereto. For additional information please see the section entitled “ —Management Following the Merger.” Board of Directors of the Combined Company At the effective time, in accordance with the amended and restated bylaws and the merger agreement, the board of directors of the combined company will consist of the members of the Mechanics board of directors immediately prior to the effective time (the “legacy Mechanics directors”), including Carl B. Webb