Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 289

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 289
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Street articles amendment proposal and the HomeStreet share issuance proposal (the “HomeStreet board recommendation”). HomeStreet and its boards of directors generally cannot (i) withhold, withdraw, modify or qualify in a manner adverse to Mechanics the HomeStreet board recommendation, (ii) fail to make the HomeStreet board recommendation, (iii) adopt, approve, recommend or endorse an acquisition proposal or publicly announce an intention to adopt, approve, recommend or endorse an acquisition proposal (as defined below), (iv) fail to publicly and without qualification (A) recommend against any acquisition proposal that has been made public or (B) reaffirm the HomeStreet board recommendation, in each case within ten (10) business days (or such fewer number of days as remains prior to the HomeStreet shareholder meeting, or any adjournment or postponement thereof, as applicable) after an acquisition proposal is made public or any request by Mechanics to do so, or (v) publicly propose to do any of the foregoing (any of the foregoing, a “recommendation change”).

However, subject to certain termination rights described in the section entitled “ —Termination of the Merger Agreement ” below, the board of directors of HomeStreet may, prior to the receipt of the requisite HomeStreet shareholder approval, effect a recommendation change, if (i)(A) the board of directors of HomeStreet receives a bona fide acquisition proposal (as defined below) after the date of the merger agreement which did not result from a breach of rights described in the section entitled “ —Agreement Not to Solicit Other Offers ,” which it determines in good faith, after receiving the advice of its outside counsel and, with respect to financial matters, its financial advisors, constitutes a superior proposal (as defined below) or (B) an intervening event (as defined below) has occurred and (ii) the board of directors of HomeStreet, after receiving the advice of its outside counsel and, with respect to financial matters, its financial advisors, determines in good faith that the failure to take such action would more likely than not result in a violation of its fiduciary duties under applicable law. Prior to effecting such recommendation change, the board of directors of HomeStreet must (y) give Mechanics at least three (3) business days’ prior written notice of its intention to take such action and a reasonable description of the event or circumstances giving rise to its determination to take such action and (z) at the end of such notice period, take into account any amendment or modification to the merger agreement