Company: MCHB
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001518715-25-000066
Chunk: 62

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 62
---
207,759 |     |                                          | 608,221 |     |                              | 27,278 |     |       | 1,257,936 |

(1) Amounts represent the aggregate grant date fair market value computed in accordance with FASB ASC Topic 718. See grant date fair value table above for additional information regarding the issuance of these awards. These amounts do not represent the actual value that may be realized by the NEO upon vesting or settlement of such awards. For each RSU award, the grant date fair value is calculated using the closing price of our common stock on the grant date. For the PSUs, consistent with ASC Topic 718, the full grant date fair value was determined using a Monte Carlo simulation performed as of the date of grant by an independent third party and therefore is not subject to probable or maximum outcome assumptions. The following table includes the assumptions used to calculate the grant date fair value of PSUs reported for fiscal years 2024 and 2023.

|                                                   |     | 2024 |        |         |     | 2023 |        |         |
| Volatility of common stock                        |     |      |   58.1 | %       |     |      |   42.7 | %       |
| Average volatility of peer companies              |     |      |   33.6 | %       |     |      |   45.0 | %       |
| Average correlation coefficient of peer companies |     |      | 0.7527 | %       |     |      | 0.8029 | %       |
| Risk-free interest rate                           |     |      |    4.0 | %       |     |      |    4.2 | %       |
| Expected term in years                            |     |      |        | 3 years |     |      |        | 3 years |

(2) Represents amounts earned for services rendered during the fiscal year, whether or not actually paid during such fiscal year under the Annual Incentive Plans.

(3) Includes (i) 401k matching contributions; (ii) other fringe benefits including health club memberships and parking; (iii) for Mr. Michel, housing and relocation benefits of $52,447 and $47,895 in 2024 and 2023, respectively.

<div align='center'>47</div>

| Outstanding Equity Awards at 2024 Fiscal Year-End |     |       |     |        |     |              |