Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 412

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 412
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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, and terms with respect to dividend equivalents) as applied to the corresponding Company RSU Award immediately prior to the Effective Time.

(b) At or prior to the Effective Time, the Board of Directors of Company 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 1.5 . Promptly following the Effective Time, Parent shall file with the SEC an effective registration statement on Form S-8 with respect to the shares of Parent Common Stock underlying the Assumed RSU Awards.

1.6

#### Adjustments
. If during the period between the date of this Agreement and the Effective Time, the outstanding shares of capital stock of Parent or Company shall have been changed into a different number or class of shares (including by reason of any reclassification, recapitalization, stock split or combination, exchange or readjustment of shares or similar transaction, or stock dividend thereon with a record date during such period, but excluding any change that results from any exercise or vesting of Company RSU Awards, Parent RSUs or Parent PSUs (the Parent RSUs together with the Parent PSUs, the “ Parent Equity Awards ”) outstanding as of the date hereof in accordance with their terms), the Exchange Ratio, Non-Voting Exchange Ratio and any other amounts payable pursuant to this Agreement shall be appropriately adjusted to provide Parent and the holders of shares of Company Common Stock