Company: MCHB
Filing Date: 2025-04-03
Form Type: 425
Source: 0001518715-25-000059
Chunk: 6

Company: Mechanics Bancorp
Filing Date: 2025-04-03
Form: 425
Chunk 6
---
5 and to become effective as of the Effective Time (the “ Registration Rights Agreement ”), with Mechanics Bank, the Ford Entities, and Rabobank. The Registration Rights Agreement is attached to this Current Report on Form 8-K as Exhibit 4.1 and is incorporated by reference herein.

Pursuant to the Registration Rights Agreement, each of the Ford Shareholders and Rabobank is entitled to certain demand registration rights, shelf registration rights and piggyback registration rights with respect to shares of HomeStreet Common Stock it acquires in the Merger, in each case, subject to certain limitations. Further, HomeStreet, Mechanics Bank, the Ford Shareholders and Rabobank agree to, and agree to cause their respective affiliates to, cooperate with each other with respect to certain bank regulatory matters and to use reasonable best efforts to comply with certain regulatory requirements. As long as the Rabobank and its permitted transferees (collectively, the “ Rabobank Parties ”) beneficially own, in the aggregate, at least 4.9% of the outstanding Company Equity Interests (as defined in the Registration Rights Agreement), the Rabobank Parties will have the right to appoint one observer to the Board of Directors of HomeStreet, and from and after such time as the Rabobank Parties acquire additional shares of voting HomeStreet Common Stock such that they beneficially own, in the aggregate 9.9% or more of voting HomeStreet Common Stock, the Rabobank Parties will have the right to appoint one director to the Board of Directors of HomeStreet (subject to the Board of Directors’ reasonable approval).

The Registration Rights Agreement will terminate, (a) upon the mutual written agreement of each of the parties thereto, (b) in the case of the Rabobank Parties, when the Rabobank Parties no longer beneficially own any Company Equity Interests and (c) in the case of Ford Shareholders, when the Ford Shareholders no longer beneficially own any Company Equity Interests.

| Item 5.02 |     | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |

Consulting Agreement

In connection with the Merger Agreement, HomeStreet and Mechanics Bank entered into a consulting agreement (the “ Consulting Agreement ”) with Mark Mason, the Chairman, Chief Executive Officer and President of HomeStreet, pursuant to which Mr. Mason’s employment with HomeStreet and HomeStreet Bank will terminate on the first day following the