Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 117

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 117
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**identified by the board of directors of the combined company in the future. The HomeStreet board of directors determined the proposed bifurcation of HomeStreet common stock into two (2) classes to be advisable because it will allow the existing non-voting shareholder of Mechanics to receive its pro-rata share of the merger consideration and generally maintain a similar level of voting power without introducing additional closing risk related to obtaining necessary regulatory approvals or adversely affecting other shareholders of the combined company, including current HomeStreet shareholders. The primary reason for the corporate name change is that management believes this will allow for brand recognition of Mechanics following the consummation of the merger. Given Mechanics’ greater assets and the post-effective time governance structure of the combined company, the HomeStreet board of directors believes that the current name will no longer accurately reflect the business of the combined company subsequent to the consummation of the merger.

THE HOMESTREET BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE HOMESTREET ARTICLES AMENDMENT PROPOSAL.**

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#### PROPOSAL 2: HOMESTREET SHARE ISSUANCE PROPOSAL
Pursuant to the merger agreement, HomeStreet is asking the HomeStreet shareholders to approve the issuance of shares of HomeStreet common stock in the merger as merger consideration to Mechanics shareholders.

Based on the total number of shares of Mechanics outstanding as of the date of this proxy statement/prospectus/consent solicitation statement, the total number of shares of HomeStreet common stock expected to be issued to Mechanics shareholders in respect of their Mechanics common stock in connection with the merger pursuant to the merger agreement is approximately 202 million shares. Under the Nasdaq Listing Rules and the NYSE Listed Company Manual, a company listed on the Nasdaq or NYSE, as applicable, is required to obtain shareholder approval, among other things, (i) prior to the issuance of common stock or securities convertible into or exercisable for common stock in connection with the acquisition of stock of another company, if the common stock has or will have upon issuance voting power equal to or in excess of 20% of the voting power outstanding before the issuance of stock or securities convertible into or exercisable for common stock, or the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of the stock or securities and