SEC Form 4 · accession 0001518715-16-000281
Mechanics Bancorp · MCHB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark K Mason
Officer — CEO, President · Director
Period of report
May 27, 2016
Accepted (ET)
Jun 1, 2016 · 7:01 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 27, 2016 | M | 2,780 | $0.00 | A | 245,545 | I | Mason Family Trust DTD 2/16/99 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF4,F2,F3 | — | May 27, 2016 | M | 2,780 | D | — | — | Common Stock | 2,780 | 18,649 | D |
Explanation of responses
- F1Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on May 29, 2014.
- F2Each RSU represents a contingent right to receive one share of HomeStreet common stock.
- F3On May 29, 2014, the reporting person was granted 8,340 RSUs, which 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.
- F4The reporting person's remaining RSUs also include 5,642 RSUs granted on January 29, 2015, which vest incrementally in equal amounts on January 29, 2017 and January 29, 2018, respectively, and 10,227 RSUs granted on January 28, 2016, which vest incrementally in equal amounts on January 28, 2017, January 28, 2018 and January 28, 2019, 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.