Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 321

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 321
---
 stock outstanding. 
 The Class B common stock will convert into Class A common stock in connection with a transfer of Class B common stock to a person that is not an affiliate (as defined in the BHC Act, as amended) of such holder (i) in a widely dispersed public offering, (ii) in a transfer to the combined company, (iii) in a private sale in which no purchaser (or group of associated purchasers) would acquire Class A common stock and/or Class B common stock in an amount that, after the conversion of such Class B common                                                                                                                                                                                                           |

203

TABLE OF CONTENTS

|                             |     | Mechanics                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |     | Combined Company                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                             |     | would control a majority of the Mechanics’ voting securities notwithstanding such transfer. Other than in connection with such transfers, the Mechanics non-voting common stock is not convertible.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |     | stock, represents two percent (2%) or more of a class of the combined company’s voting securities or (iv) where such transferee would control a majority of the combined company’s voting securities notwithstanding such transfer. Other than in connection with such transfers, the Class B common stock is not convertible.                                                                                                                                              |
| Voting Rights               |     | The Mechanics charter provides that each Mechanics shareholder holding Mechanics voting common stock will be entitled to one vote on each matter voted on at any Mechanics shareholder’s meeting for each such share. The Mechanics bylaws provide that, except as otherwise required by applicable law, each Mechanics shareholder holding Mechanics non-voting common stock will not be entitled to any vote for such shares. In the election of directors, each holder of Mechanics voting common stock may cumulate votes and give one candidate a number of votes equal to the number of directors to be elected multiplied by the number of votes to which the shareholder’s shares are normally entitled, or distribute the shareholder’s votes on the same principle among as many candidates as such shareholder chooses. No shareholder is entitled to cumulate votes in favor of any candidate or candidates unless such candidate’s or candidates’ names have been placed in nomination prior to the voting and the shareholder has given notice at the meeting prior to the voting of the shareholder’s intention to cumulate the shareholder’s votes. |     | The HomeStreet amended and restated articles provide that each outstanding share of HomeStreet Class A common stock and Class B common stock, voting as a single group (except as required by applicable law or in connection with certain