Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 46

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 46
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 directors will continue to serve as a director of the combined company following the closing of the merger; and |

| • | pursuant to the terms of the merger agreement, HomeStreet’s present and former directors and executive officers are entitled to indemnification and advancement of expenses, and six (6) years of continued liability insurance coverage, either by way of obtaining at or prior to the effective time a six (6) year “tail” policy under HomeStreet’s existing liability or insurance policy, or, if such a policy is not available, by maintaining its existing liability insurance policy for a period of six (6) years after the effective time. |

The HomeStreet board of directors was aware of and considered these respective interests, among other matters, in evaluating and negotiating the merger agreement when deciding to adopt and approve the merger agreement and in making its recommendation that HomeStreet shareholders vote to approve the HomeStreet articles amendment proposal, the HomeStreet share issuance proposal, the HomeStreet merger-related compensation proposal, the HomeStreet new equity incentive plan proposal and the HomeStreet adjournment proposal. For more information, see section entitled “ The Merger—Background of the Merger” and “ The Merger—Mechanics’ Reasons for the Merger; Recommendation of the Mechanics Board of Directors.” These interests are described in more detail, and certain of them are quantified in the narrative and in the section entitled “ The Merger—Interests of HomeStreet’s Directors and Executive Officers in the Merger.” Interests of Mechanics Directors and Executive Officers in the Merger (page 160) In considering the recommendation of the Mechanics board of directors to approve the Mechanics merger proposal, Mechanics shareholders should be aware that Mechanics’ directors and executive officers have certain interests in the merger that may be different from, or in addition to, the interests of Mechanics shareholders generally. These interests include, among others, the following:

| • | certain of Mechanics’ executive officers hold outstanding Mechanics RSUs that will automatically be converted into corresponding HomeStreet equity awards based on the exchange ratio, as described under the section entitled “The Merger Agreement—Treatment of Mechanics Equity Awards.” Such converted HomeStreet equity awards will be subject to the same terms and conditions as were applicable to such Mechanics RSUs immediately prior to the effective time (including vesting terms, performance measures, and terms with respect to dividend equivalents); |

| • | Mechanics’ directors and certain of Mechanics’ executive officers are expected to continue to serve as directors or executive officers, as applicable, of the combined company and the surviving bank