Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 193

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 193
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 board of directors because of her experience in the banking and financial services industry and on the boards of public and private companies.

#### Nancy D. Pellegrino

#### Director
Ms. Pellegrino has served as a director of Homestreet since October 2019. She previously served as a Director on the Board of Puget Sound Bank (2015-2018) helping lead it to its successful merger with Heritage Financial Corp. Post-retirement from the financial services industry, she has provided consulting services to individuals, teams and organizations, drawing on her board and leadership experience. Ms. Pellegrino is qualified to serve on the combined company’s board of directors because of her extensive executive leadership experience in the financial services industry encompassing human capital management, business development, marketing, strategy, risk management and both corporate and non-profit board experience as well as for her commitment to the PNW community.

#### Director Independence

#### Controlled Company
Following the consummation of the merger, the Ford Entities 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 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

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#### TABLE OF CONTENTS
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.

**Committees of the Board of Directors Following the Merger**

The HomeStreet board of directors has an established standing executive committee, audit committee, compensation committee, enterprise risk management committee, and nominating and governance committee, each of which operate pursuant to a charter adopted by the HomeStreet board of