Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 407

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 407
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 required action on the part of the holder thereof, be cancelled and shall only entitle the holder of such Parent PSU to receive (without interest), less applicable Tax withholdings, as soon as reasonably practicable after the Effective Time (but in any event no later than ten (10) business days after the Effective Time), (A) a number of shares of Class A Parent Common Stock equal to the number of shares of Parent Common Stock (immediately prior to the Effective Time) subject to such Parent PSU based on target performance, plus (B) 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 Parent PSU based on target performance; provided, that, notwithstanding anything to the contrary herein, with respect to any Parent PSUs that constitute nonqualified deferred compensation subject to Section 409A of the Code and that are not permitted to be paid at the Effective Time without triggering a Tax or penalty under Section 409A of the Code, such payment shall be made at the earliest time permitted under the applicable Parent Equity Plan and award agreement that will not trigger a Tax or penalty under Section 409A of the Code.

(c) At or prior to the Effective Time, the Board of Directors of Parent or the appropriate committee thereof shall adopt any resolutions and take any actions that are necessary or appropriate to effectuate the provisions of this Section 1.4 .

1.5

#### Treatment of Company Equity Awards
.

(a) At the Effective Time, each incentive unit award or restricted stock unit award granted under the Company’s 2017 Incentive Unit Plan or 2022 Omnibus Incentive Plan (together, the “ Company Equity Plans ”) in respect of shares of Company Common Stock (a “ Company RSU Award ”) that is outstanding immediately prior to the Effective Time shall, automatically and without any required action on the part of the holder thereof, be converted into a restricted stock unit award (an “ Assumed RSU Award ”) in respect of that number of shares of Class A Parent Common Stock (rounded to the nearest whole share) equal to the product of (i) the total number of shares of Company Common Stock subject to the Company RSU Award immediately prior to the Effective Time multiplied by (ii) the Exchange Ratio. Except as expressly provided in this Section 1.5(a) , each such Assumed RSU Award shall be subject to the same terms and conditions (including vesting terms, performance measures,