Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 175

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 175
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 single calendar year performance period. Participants may defer

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TABLE OF CONTENTS

part or all of an award in compliance with the requirements of Section 409A of the Code. In the event of certain transactions or corporate events including a “change in control” (as defined in the Mechanics 2017 Plan) the compensation committee has discretion to make certain adjustments or substitutions to outstanding awards, such as providing for the cancellation of awards for cash or other property with an aggregate value equal to the amount that could have been attained if such award had vested, the replacement of awards with other rights or property with terms not substantially less favorable in the aggregate than the terms of the award or the assumption of awards by a surviving or successor entity. Under the terms of the award agreements pursuant to the Mechanics 2017 Plan, outstanding and unvested Units will vest upon the occurrence of a change in control. Outstanding and unvested phantom units will also vest in full upon a termination due to death, disability, or retirement (as defined in the applicable award agreement).As discussed below, outstanding awards under the Mechanics 2017 Plan will be converted upon the merger into HomeStreet restricted stock units. See the section entitled “ The Merger Agreement—Treatment of Mechanics Equity Awards”.No additional awards will be granted under the Mechanics 2017 Plan following the merger. Based upon financial and individual performance measures and the Mechanics compensation committee’s discretion, phantom units were awarded under the Mechanics 2017 Plan to the named executive officers as follows for the 2024 year: 2024 Phantom Units

| NEO            |     |  Salary |     | Target 
 %      |     |  Target 
     ($) |     | Bank        
 Performance |     |  Actual 
     ($) |     |     Grant 
 Valuation 
  Per Unit 
       ($) |     |   Units 
 Granted |     | Year-End Bank 
     Valuation 
      Per Unit 
           ($) |     |      Aggregate 
 Value of Award 
    at Year-End 
      Valuation 
            ($) |
| C.J. Johnson   |     |       — |     | —      |     |       — |     | —           |     |       — |     |         — |     |       — |     |             — |     |              — |
| John DeCero    |     |       — |     | —      |     |       — |     | —           |     |       — |     |         — |     |       — |