Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 39

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 39
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, will automatically accelerate, and each such HomeStreet PSU will be cancelled and entitle the holder to receive (1) a number of shares of the 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. |

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, each outstanding Mechanics RSU will automatically be converted into 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. Material U.S. Federal Income Tax Consequences of the Merger (page 188) The merger is intended to qualify as a “reorganization” within the meaning of Section 368(a) of the Code, and it is a condition to the HomeStreet Parties’ and Mechanics’ respective obligations to complete the merger that each of the HomeStreet Parties and Mechanics receive a legal opinion to the effect that the merger will so qualify. Accordingly, U.S. holders of Mechanics common stock generally will not recognize any gain or loss for U.S. federal income tax purposes on the exchange of Mechanics common stock for HomeStreet common stock in the merger, except for any gain or loss that may result from the receipt of cash instead of a fractional share of HomeStreet common stock. You should be aware that the tax consequences of the merger may depend upon your own situation. In addition, you may be subject to state, local or foreign tax laws that are not discussed in this proxy statement/prospectus/consent solicitation statement. You should therefore consult with your own tax advisor for a full understanding of the tax consequences to you of the merger. For more detailed information, please refer