Company: MCHB
Filing Date: 2025-09-02
Form Type: 8-K
Source: 0001140361-25-033560
Chunk: 2

Company: Mechanics Bancorp
Filing Date: 2025-09-02
Form: 8-K
Item: Item 2.01
Chunk 2
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 (2) 3,301.0920. Each Assumed RSU will otherwise remain subject to the same terms and conditions (including vesting terms, performance measures, and terms with respect to dividend equivalents) as applied to the
corresponding Mechanics Bank RSU immediately prior to the Effective Time.

In accordance with the terms and subject to the conditions set forth in the Merger Agreement, at the Effective Time: (i) each outstanding restricted stock unit award granted under
the Amended and Restated HomeStreet 2014 Equity Incentive Plan remained outstanding and continued to be subject to the same terms and conditions (including vesting terms and terms with respect to dividend equivalents) as applied immediately
prior to the Effective Time; and (ii) any vesting conditions applicable to each outstanding performance stock unit award granted under the Amended and Restated HomeStreet 2014 Equity Incentive Plan (a “ Company PSU”), whether vested or unvested,
was automatically accelerated, and each such Company PSU was cancelled and entitled the holder to receive (1) a number of shares of the Class A common stock equal to the number of shares of the Company common stock (immediately prior to the
Effective Time) subject to such Company PSU based on target performance plus (2) an amount in cash equal to the amount of all dividends, if any, accrued but unpaid as of the effective time with respect to such Company PSU based on target
performance.

The aggregate number of shares of (i) Class A common stock that the Company issued to Mechanics Bank shareholders at the Effective Time is 200,901,384, resulting in
approximately 219,822,191 shares of Class A common stock outstanding immediately following the Effective Time, and (ii) Class B common stock that the Company issued to Mechanics Bank shareholders at the Effective Time is 1,114,448, resulting in
1,114,448 shares of Class B common stock outstanding immediately following the Effective Time. As a result, immediately following the Effective Time, (1) legacy Mechanics Bank shareholders owned approximately 91.7% of the Company on an economic
basis and 91.3% of the voting power of the Company and (2) legacy Company shareholders owned approximately 8.3% of the Company on an economic basis and 8.7% of the voting power of the Company. The issuance of Company common stock in the Merger to
Mechanics Bank shareholders, other than the shares of Company common stock owned by EB Acquisition Company LLC