Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 254

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 254
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 of HomeStreet’s common stock over the first five (5) trading days following the first public announcement of the merger. |

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TABLE OF CONTENTS

| (4) | Perquisites/Benefits.Represents, for Mr. Mason, the estimated value of health insurance benefits for up to eighteen (18) months following a qualifying termination. Represents for each of Messrs. Michel and Endresen, a lump sum payment equal to the costs of providing continuing health insurance coverage for eighteen (18) months. These benefits are “double-trigger.” |

Interests of Mechanics Directors and Executive Officers in the Merger Certain of Mechanics directors and executive officers may have interests in the merger that are different from, or in addition to, the interests of Mechanics shareholders generally. The Mechanics board of directors was aware of these interests and considered them, among other matters, in evaluating and negotiating the merger agreement and the merger, in approving the merger agreement and the merger and in recommending to Mechanics shareholders that approve the Mechanics merger proposal. For more information, see the sections entitled “ —Background of the Merger” and “ —Mechanics’ Reasons for the Merger; Recommendation of the Mechanics Board of Directors.” Such interests are described in more detail below. Treatment of Mechanics Equity Awards The Mechanics equity awards held by Mechanics’ directors and executive officers immediately prior to the effective time will be adjusted to reflect the merger in the same manner as those Mechanics equity awards held by other employees generally. At the effective time, outstanding Mechanics equity awards will be treated as follows: Upon completion of the merger, each outstanding incentive unit award or restricted stock unit award granted under the Mechanics 2017 Incentive Unit Plan or 2022 Omnibus Incentive Plan in respect of shares of Mechanics common stock (a “Mechanics RSU”) will automatically be converted into a restricted stock unit award (an “Assumed HomeStreet RSU”) in respect of the number of shares of the Class A common stock (rounded to the nearest whole share) equal to (1) the total number of shares of Mechanics common stock subject to the Mechanics RSU immediately prior to the effective time multiplied by (2) the Class A exchange ratio. Each Assumed HomeStreet RSU will otherwise remain subject to the same terms and conditions (including vesting terms, performance measures, and terms with respect to dividend equivalents) as applied to the corresponding Mechanics RSU immediately prior to the effective time. Continuing Directors Carl B. Webb, E. Michael Downer, Patricia Cochran, Adrienne