SEC Form 4 · accession 0001518715-15-000116
Mechanics Bancorp · MCHB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard W H Bennion
Officer — EVP - Res. Lending Director
Period of report
May 29, 2015
Accepted (ET)
Jun 2, 2015 · 9:27 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001518715
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 29, 2015 | M | 376 | $0.00 | A | 376 | D | |
| Common StockF2 | holding | — | — | — | 29,426 | I | Bennion Revocable Living Trust dated 12/19/2002 | |
| Common StockF3 | holding | — | — | — | 21,334 | I | HomeStreet, Inc. 401(k) Savings Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF6,F4,F5 | — | May 29, 2015 | M | 376 | D | — | — | Common Stock | 376 | 1,769 | D |
Explanation of responses
- F1Common stock acquired upon vesting of restricted stock units granted on May 29, 2014.
- F2Mr. Bennion is the co-trustee with Diane Bennion for the Bennion Revocable Living Trust dated 12/19/02.
- F3Participants in HomeStreet, Inc.'s 401(k) Savings Plan, or 401(k) Plan, have the authority to direct voting of shares they hold through the 401(k) Plan.
- F4Each restricted stock unit represents a contingent right to receive one share of HomeStreet common stock.
- F5On May 29, 2014, the reporting person was granted 1,128 restricted stock units (RSUs), which will vest incrementally in equal amounts on May 29, 2015, May 29, 2016 and May 29, 2017, respectively. In the event of a change in control, all unvested RSUs may vest immediately under certain circumstances. Upon vesting, the reporting person will receive a number of shares of HomeStreet common stock equal to the number of RSUs that have vested.
- F6The reporting person's remaining RSUs also include 1,017 RSUs granted on January 29, 2015, which vest incrementally in equal amounts on January 29, 2016, January 29, 2017 and January 29, 2018, respectively. In the event of a change in control, all unvested RSUs may vest immediately under certain circumstances. Upon vesting, the reporting person will receive a number of shares of HomeStreet common stock equal to the number of RSUs that have vested.