Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 45

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 45
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 the HomeStreet board of directors to vote “FOR” the HomeStreet articles amendment proposal, “FOR” the HomeStreet share issuance proposal, “FOR” the HomeStreet merger-related compensation proposal, “FOR” the HomeStreet new equity incentive plan proposal and “FOR” the HomeStreet adjournment proposal, holders of HomeStreet common stock should be aware that the directors and executive officers of HomeStreet have interests in the merger that are different from, or in addition to, the interests of holders of HomeStreet common stock generally. These interests include, among others, the following:

| • | at the effective time, each outstanding HomeStreet RSU will remain outstanding and be continued subject to the same terms and conditions (including vesting terms and terms with respect to dividend equivalents) as applied immediately prior to the effective time; |

| • | at the effective time, any vesting conditions applicable to each outstanding HomeStreet PSU, whether vested or unvested, will automatically accelerate, and each such HomeStreet PSU will be cancelled and entitle the holder to receive (1) a number of shares of Class A common stock equal to the number of shares of HomeStreet common stock (immediately prior to the effective time), subject to such HomeStreet PSU based on target performance plus (2) 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 HomeStreet PSU based on target performance; |

| • | HomeStreet, Mechanics and Mark K. Mason have entered into the consulting agreement, which will commence on the first day following the effective time of the merger and which provides for certain compensation and benefits in connection with Mr. Mason’s service to HomeStreet and Mechanics following the closing of the merger, and which, among other things, provides for the extension of Mr. Mason’s existing non-competition obligations through the consulting period and for a period of six (6) months thereafter; |

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| • | Mr. Mason will also be entitled to receive payment of the severance payments and benefits contemplated by, and in accordance with, the applicable change in control severance terms of his employment agreement with HomeStreet, as modified by the consulting agreement; |

| • | each other HomeStreet executive officer is entitled to certain change in control severance payments and benefits upon a qualifying termination of employment within 90 days prior to or within 12 months following the consummation of the merger; |

| • | one (1) of HomeStreet’s