Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 128

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 128
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 Dividend equivalent rights granted as a separate award also may be paid currently or may be deemed to be reinvested in additional HomeStreet common stock. Any such reinvestment will be at the fair market value at the time thereof. Dividend equivalent rights may be settled in cash or HomeStreet common stock.

Performance Awards . The Committee may grant performance awards payable at the end of a specified performance period in cash, shares of common stock, units, or other rights based upon, payable in, or otherwise related to our common stock. Payment will be contingent upon achieving pre-established performance goals (as described below) by the end of the applicable performance period. The Committee will determine the length of the performance period, the maximum payment value of an award, and the minimum performance goals required before payment will be made, so long as such provisions are not inconsistent with the terms of the 2025 Equity Incentive Plan, and to the extent an award is subject to Section 409A of the Code, are in compliance with the applicable requirements of Section 409A of the Code and any applicable regulations or authoritative guidance issued thereunder. If the performance award is to be in shares of our common stock, the award may provide for the issuance of the shares of at the time of the grant of the award or at the time of the certification by the Committee that the performance goals for the performance period have been met; provided, however, that if shares of HomeStreet common stock are issued at the time of the grant and if, at the end of the performance period, the performance goals are not certified by the Committee to have been fully satisfied, the common stock will be forfeited in accordance with the terms of the grant to the extent the Committee determines that the performance goals were not met. If the Committee determines, in its sole discretion, that the established performance measures or objectives are no longer suitable because of a change in our business, operations, corporate structure, or for other reasons that the Committee deems satisfactory, the Committee may modify the performance measures or objectives and/or the performance period.

Performance Goals . The 2025 Equity Incentive Plan provides that performance goals may be established by the Committee in connection with the grant of any award under the 2025 Equity Incentive Plan. Such goals shall be based on the attainment of specified levels of one or more measures determined, which may include, without limitation: stock price; book value; book value per share; tangible book value; tangible book value per share; earnings (including earnings before taxes, earnings