Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 118

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 118
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 Equity Incentive Plan was approved as of such date) and (iii) the number of shares of HomeStreet common stock outstanding as of June 16, 2025:

| Number of outstanding restricted stock units, or RSUs                                                                                                                                                                                                |     |     151,927 |
| Number of outstanding performance stock units, or PSUs (assuming target performance)                                                                                                                                                                 |     |     243,096 |
| Remaining shares of common stock available under the 2014 Plan                                                                                                                                                                                       |     |           0 |
| New shares of common stock requested for approval pursuant to the 2025 Equity Incentive Plan                                                                                                                                                         |     |   7,750,000 |
| Number of shares of HomeStreet common stock outstanding (not giving effect to the Merger)                                                                                                                                                            |     |  18,920,808 |
| Estimated number of shares of HomeStreet common stock outstanding giving effect to the issuance of an estimated 202 million shares of HomeStreet common stock in the Merger (but not including Mechanics RSUs assumed in connection with the Merger) |     | 220,920,808 |

As of June 16, 2025, except as provided above, HomeStreet had no other outstanding restricted stock units, performance stock units, or other stock-based awards. HomeStreet believes that its stock-based compensation programs have been integral to its success in the past, and HomeStreet and Mechanics have jointly determined that the 2025 Equity Incentive Plan (if approved by HomeStreet’s shareholders) will be important to the ability of the combined company to succeed in the future. If the

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2025 Equity Incentive Plan is not approved by HomeStreet’s shareholders, the combined company will not be able to make long-term equity incentive awards that are sufficient to meet its needs. The inability to make competitive equity awards to retain talented employees in a highly competitive market could have an adverse impact on the combined company’s business and future prospects. Further, if the 2025 Equity Incentive Plan is not approved, the combined company may need to increase cash compensation.

The approval of the 2025 Equity Incentive Plan by shareholders is not a condition to the obligations of HomeStreet or Mechanics to complete the merger.

For purposes of this proposal and except where the context otherwise requires, the term “HomeStreet”, “us” and “our” or similar terms shall include any of HomeStreet’s present or future parent or subsidiary corporations as defined in Sections 424