Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 36

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 36
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, as well as holders of Mechanics RSUs and HomeStreet Equity Awards, the same economic effect as contemplated by the merger agreement prior to such event.

To the extent applicable, the conversion of Mechanics common stock will not occur with respect to Mechanics common stock owned by HomeStreet or Mechanics, in each case other than shares (x) held in certain accounts or a fiduciary or agency capacity that are beneficially owned by third parties or (y) held by HomeStreet or Mechanics in respect of debts previously contracted.

In lieu of the issuance of any such fractional share of HomeStreet common stock, HomeStreet will pay to each Mechanics shareholder who otherwise would be entitled to receive a fractional share an amount in cash rounded to the nearest cent. This cash amount will be determined by multiplying (i) the average of the closing-sale prices of HomeStreet common stock on the Nasdaq or NYSE, as applicable, as reported by The Wall Street Journal for the consecutive period of five (5) full trading days ending on the day preceding the closing date by (ii) the fraction of a share (after taking into account all shares of Mechanics common stock held by such holder immediately prior to

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the effective time and rounded to the nearest thousandth when expressed in decimal form) of HomeStreet common stock which such holder would otherwise be entitled to receive pursuant to the merger agreement (and, in the case of rounding in respect of Class B common stock, multiplied by ten (10), subject to adjustment as provided in the amended articles). For more information on the exchange ratios, see the section entitled “ The Merger—Terms of the Merger” beginning and the section entitled “ The Merger Agreement—Merger Consideration.” Treatment of HomeStreet Equity Awards (page 170) At the effective time, outstanding HomeStreet Equity Awards will be treated as follows:

| • | each outstanding HomeStreet RSU will remain outstanding and be continued subject to the same terms and conditions (including vesting terms and terms with respect to dividend equivalents) as applied immediately prior to the effective time; and |

| • | any vesting conditions applicable to each outstanding HomeStreet PSU, whether vested or unvested, 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