Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 200

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 200
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 and both corporate and non-profit board experience as well as for her commitment to the PNW community.

#### Director Independence

#### Controlled Company
Following the consummation of the merger, the Ford Entities will control approximately 77.7% of the voting power of the combined company. The combined company will therefore be a “controlled company” for purposes of NASDAQ listing rules and Section 303A of the NYSE Listed Company Manual and will qualify for, and intends to rely on, exemptions from certain governance standards that would otherwise be applicable.

Under NASDAQ listing rules and Section 303A of the NYSE Listed Company Manual, a company of which more than 50% of the voting power is held by an individual, a group or another company is a “controlled company” and is exempt from certain corporate governance requirements that would otherwise require the combined company to have: (i) a nominating committee comprised solely of independent directors or select or recommend director nominees by a majority of the independent directors and (ii) a compensation committee comprised solely of

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#### TABLE OF CONTENTS
independent directors. The combined company intends to rely on these exemptions. The controlled company exemption does not modify the independence requirements for the audit committee, and the combined company intends to continue to comply with the requirements of NASDAQ or NYSE rules with respect thereto.

**Committees of the Board of Directors Following the Merger**

The HomeStreet board of directors has an established standing executive committee, audit committee, compensation committee, enterprise risk management committee, and nominating and governance committee, each of which operate pursuant to a charter adopted by the HomeStreet board of directors. After completion of the merger, the combined company’s board of directors will continue to have such standing committees, other than the executive committee. Because the combined company will be a “controlled company” under the corporate governance standards of NASDAQ and the NYSE, the combined company is not required to have a compensation committee composed of independent directors or a nominating and corporate governance committee composed of independent directors.

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### THE MERGER
This section of the proxy statement/prospectus/consent solicitation statement describes material aspects of the merger. This summary may not contain all of the information that is important to you. You should carefully read this entire proxy statement/prospectus/consent solicitation statement and the other documents we refer you to for a more complete understanding of the merger. In addition