Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 208

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 208
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 Rabobank, and their respective counsel exchanged drafts of the Ford Entities voting agreement, pursuant to which, among other things, the Ford Entities would agree to provide a written consent in respect of their Mechanics common stock over which they had voting power approving the merger agreement and the transactions contemplated thereby, and the Rabobank voting agreement, pursuant to which,

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among other things, Rabobank would agree to provide a written consent in respect of its Mechanics common stock over which it has voting power approving the merger agreement and the transactions contemplated thereby, as well as the other transaction agreements to be entered into, and negotiated the terms of such agreements.

On March 26, 2025, the HomeStreet special transaction committee held a meeting to discuss the draft merger agreement and the proposed terms of the transactions contemplated by the merger agreement. Advisers from KBW and S&C attended the meeting. At the meeting, the special transaction committee discussed due diligence matters, the state of the definitive merger agreement, and the state of the KBW fairness opinion. After thorough deliberation that included input from HomeStreet’s advisers, the special transaction committee unanimously approved recommending to the HomeStreet board resolutions approving the proposed transaction.

Also on March 26, 2025, the Mechanics board held a special meeting to consider the negotiated terms of the proposed transaction and the entry into the merger agreement and related agreements by Mechanics, including the registration rights agreement and the consulting agreement. At the meeting, members of Mechanics’ management provided an update on the results of the negotiations since the February 27 board meeting, reviewed the proposed terms of the potential transaction and advised that the negotiations and definitive transaction documents were substantially complete. Management reviewed the financial aspects of the merger with the Mechanics board, including financial analysis that had been provided by J.P. Morgan and relationship disclosure previously provided by J.P. Morgan. Representatives of Wachtell Lipton were also in attendance and reviewed the fiduciary duties of the directors in connection with their evaluation of the proposed transaction, and reviewed with the Mechanics board the proposed terms of the proposed transaction, including the merger agreement, the registration rights agreement, the key shareholder voting agreements and the consulting agreement. Representatives of Wachtell Lipton also described the resolutions that members of the Mechanics board would be asked to consider if they were to approve the merger agreement, the other definitive agreements and the potential transaction. Thereafter, management of Mechanics confirmed its recommendation of the proposed transaction to the Mechanics board. Members of