Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 413

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 413
---
, Company RSU Awards and Parent Equity Awards the same economic effect as contemplated by this Agreement prior to such event; provided that nothing in this Section 1.6 shall be construed to permit Parent or Company to take any action that is otherwise prohibited by the terms of this Agreement.

1.7

#### Tax Consequences
. It is intended that the Merger shall qualify as a “reorganization” within the meaning of Section 368(a) of the Code, and that this Agreement is intended to be and is adopted as a plan of reorganization for the purposes of Sections 354 and 361 of the Code.

## Article II

### EXCHANGE OF SHARES
2.1

#### Parent to Make Consideration Available
. At or prior to the Effective Time, Parent shall deposit, or shall cause to be deposited, with an exchange agent mutually agreed upon by Parent and Company (the “ Exchange Agent ”), for exchange in accordance with this Article II for the benefit of the holders of Old Certificates, evidence in book-entry form representing shares of Parent Common Stock to be issued pursuant to Section 1.3 (the “ New

<div align='center'>A-12</div>

#### TABLE OF CONTENTS
Certificates ”), it being understood that any reference in this Agreement to a “ New Certificate ” shall be deemed to include reference to book-entry account statements relating to the ownership of shares of Parent Common Stock to be issued pursuant to Section 1.3 , and cash in lieu of any fractional shares to be paid pursuant to Section 2.2(e) (such cash and New Certificates, together with any dividends or distributions with respect to shares of Parent Common Stock payable in accordance with Section 2.2(b) , being hereinafter referred to as the “ Exchange Fund ”).

2.2

#### Exchange of Shares
.

(a) As promptly as practicable after the Effective Time, but in no event later than ten (10) days thereafter, Parent and Company shall cause the Exchange Agent to mail to each holder of record of one or more Old Certificates representing shares of Company Common Stock immediately prior to the Effective Time that have been converted at the Effective Time into the right to receive Parent Common Stock pursuant to Section 1.3 a letter of transmittal (which shall specify that delivery shall be effected, and risk of loss and title to the Old Certificates shall pass, only upon proper delivery of the Old Certificates to the Exchange Agent) and instructions for use in effecting the surrender of