Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 247

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 247
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 HomeStreet PSU based on target performance. Notwithstanding that HomeStreet Cash LTI and HomeStreet RSUs will not accelerate on a “single-trigger” basis as a result of the closing of the merger, each HomeStreet RSU award agreement provides that, if a Change in Control of HomeStreet, such as the merger, occurs and the executive’s continuous service is terminated without Cause or by the executive for Good Reason (each capitalized term, as defined in the Equity Incentive Plan or applicable employment agreement) within twelve (12) months following the Change in Control, all unvested HomeStreet RSUs will automatically become 100% vested. Similarly, each HomeStreet Cash LTI award agreement provides that, if a Change in Control of HomeStreet, such as the merger, occurs prior to January 1, 2028, and the executive’s continuous service is terminated without Cause or by the executive for Good Reason (each capitalized term, as defined in the applicable HomeStreet Cash LTI award agreement) within twelve (12) months following the Change in Control, then the cash amount subject to such HomeStreet Cash LTI award agreement will become 100% vested. The table below sets forth the number of outstanding HomeStreet RSUs, HomeStreet PSUs and amount of HomeStreet Cash LTI held by each of HomeStreet’s executive officers as of June 16, 2025 and an estimate of the value of such HomeStreet Equity Awards (on a pre-tax basis) using a price per share of HomeStreet common stock of $11.81 (the average closing price of HomeStreet’s common stock over the first five (5) trading days following the announcement of the merger), and for HomeStreet PSUs, based on target performance. Depending on the date upon which the closing of the merger actually occurs, certain HomeStreet RSUs, HomeStreet PSUs and HomeStreet Cash LTI that are unvested as of the date of this proxy statement/prospectus/consent solicitation statement and that are included in the table below may vest and settle pursuant to their terms, without regard to the merger.

| Name                |     |   Unvested 
 HomeStreet 
       RSUs 
        (#) |     |   Unvested 
 HomeStreet 
       RSUs 
        ($) |     |   Unvested 
 HomeStreet 
       PSUs 
        (#) |     |   Unvested 
 HomeStreet 
       PSUs 
        ($) |     |   Unvested 
 HomeStreet