Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 328

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 328
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| a corporation’s bylaws unless the action would materially and adversely affect the rights of members as to voting or transfer, subject to certain exceptions. A California corporation’s shareholders may adopt, amend or repeal the bylaws even though the bylaws may also be adopted, amended or repealed by its board of directors. 
 The Mechanics bylaws provide that the Mechanics board of directors may amend or repeal the Mechanics bylaws (other than an amendment or repeal changing the range of the authorized number of directors), subject to amendment or repeal by Mechanics shareholders.                                                                    |     | affirmative vote of a majority of the votes entitled to be cast in each class entitled to vote on the amendment. The articles are permitted to require a different vote, or a different vote by separate voting groups, so long as the required vote is not less than a majority of all the votes entitled to be cast on the amendment and each other voting group entitled to vote separately on the amendment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 Under the WBCA, a corporation’s board of directors may amend or repeal the corporation’s bylaws unless the corporation’s articles of incorporation or Washington law reserves the power to amend the bylaws exclusively to the shareholders in whole or in part, or the shareholders, in amending or repealing a particular bylaw, provide expressly that the board of directors may not amend or repeal that bylaw. A Washington corporation’s shareholders may also amend or repeal a corporation’s bylaws.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
 The amended and restated articles provide that if a vote of the shareholders is required to amend the articles of incorporation, the amendment must be approved by the affirmative vote of a majority of the outstanding shares of the combined company. Further, if an amendment would adversely affect the rights, preferences or powers of the Class B common stock, including in connection with or as a result of any merger, share exchange, consolidation, recapitalization, restructuring or other reorganization, it is required to be approved by the affirmative vote of a majority of all of the votes entitled to be cast by holders of the shares of Class B common stock, voting as a separate voting group (other than in connection with a merger, consolidation or similar transaction, where (i) the Class A common stock and Class B common stock are treated equally, except that each receives securities that mirror the rights and other attributes applicable to such class, other than in an immaterial respect, or (ii) the Class A common |

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|                                               |     | Mechanics