Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 171

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 171
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 275,000 |     | 92%         |     | 253,000 |     |    45,580 |     |  5.5507 |     |        51,382 |     |        285,206 |
| Tony Kallingal |     | 550,000 |     | 50%    |     | 275,000 |     | 92%         |     | 253,000 |     |    45,580 |     |  5.5507 |     |        51,382 |     |        285,206 |

The Mechanics Bank 2022 Omnibus Incentive Plan (the “Mechanics 2022 Plan”) provides for the issuance of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”) and other stock-based awards or cash awards to eligible directors, officers, employees and consultants of Mechanics. Only RSUs, held by directors and select officers, are outstanding under the Mechanics 2022 Plan. The grant date fair value of the awards is determined using an audited internal valuation. RSUs granted to officers vest over a four-year period on each anniversary of the issue date beginning with the first anniversary of the issue date. RSUs awarded to non-employee directors vest at the next annual meeting of shareholders following the grant date. RSUs have not been granted to officers since 2023. 1,918.9943 shares are currently available for issuance under the plan; however, as noted below, no new grants will be made under the plan following the Merger. In the event of certain corporate transactions, the compensation committee has discretion to make certain adjustments or substitutions, including providing for the cancellation of awards for cash or other property with an aggregate value equal to the value of such awards, the substitution of other property including cash or other securities for the shares subject to outstanding awards, or the assumption or replacement of awards. Upon a change in control (as defined in the Mechanics 2022 Plan), outstanding and unvested RSUs will immediately vest pursuant to the terms of the award agreements underlying the Mechanics 2022 Plan. Outstanding and unvested RSUs will also vest in full upon a termination due to death, disability, or retirement (as defined in the applicable award agreement).As discussed below, outstanding awards under the Mechanics 2022 Plan will be converted upon the merger into HomeStreet restricted stock units. See the section entitled “ The Merger Agreement—Treatment of Mechanics Equity