Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 249

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 249
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**Membership on the Combined Company’s Board of Directors**

The board of directors of the combined company after the merger will have eight members, including one legacy HomeStreet director selected by Mechanics and who is expected to be Nancy D. Pellegrino. For additional information, see the section entitled “— Governance of the Combined Company After the Merger ”.

#### Tax Planning Strategies
Pursuant to the merger agreement and confidential disclosure schedules to the merger agreement, HomeStreet may implement strategies to mitigate the impact of Sections 280G and 4999 of the Code and to reduce the amount of compensation or benefits otherwise expected to constitute “excess parachute payments” in connection with the transactions contemplated by the merger agreement. As of the date of this proxy statement/prospectus/consent solicitation statement, no such tax planning strategies have been finalized.

**Quantification of Potential Payments and Benefits to HomeStreet’s Named Executive Officers in Connection with the Merger**

This section sets forth the information required by Item 402(t) of the SEC’s Regulation S-K regarding compensation that is based on, or otherwise relates to, the merger for each named executive officer of HomeStreet. This compensation is referred to as “golden parachute” compensation by the applicable SEC disclosure rules, and in this section we use such term to describe the merger-related compensation payable to HomeStreet’s named executive officers. The “golden parachute” compensation payable to these individuals is subject to a non-binding, advisory vote of HomeStreet’s shareholders, as described elsewhere in this proxy statement/prospectus/consent solicitation statement as the HomeStreet merger-related compensation proposal. The plans or arrangements pursuant to which

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such “golden parachute” compensation would be payable (other than the merger agreement), consist of the named executive officers’ employment agreements, change in control agreements and the respective equity and cash-based awards specifying the terms and conditions of each such award. Throughout the discussion, the named executive officers of HomeStreet include the following executive officers, as determined in accordance with applicable SEC rules:

| • | Mark K. Mason — Chairman, President and Chief Executive Officer of HomeStreet and HomeStreet Bank |

| • | John M. Michel — Executive Vice President, Chief Financial Officer of HomeStreet and HomeStreet Bank |

| • | William D. Endresen — Executive Vice President, Commercial Real Estate President of HomeStreet Bank |

The amount of payments and benefits that each named executive officer would receive (on a pre-tax basis