SEC Form 4 · accession 0001518715-17-000056
Mechanics Bancorp · MCHB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Endresen
Officer — EVP, Comm'l RE (Interim)
Period of report
Feb 27, 2017
Accepted (ET)
Mar 1, 2017 · 5:24 pm EST
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 | Feb 27, 2017 | M | 1,022 | $0.00 | A | 2,170 | D | |
| Common StockF2,F3 | holding | — | — | — | 429 | 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 | — | Feb 27, 2017 | M | 1,022 | D | — | — | Common Stock | 1,022 | 5,003 | D |
Explanation of responses
- F1Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on February 27, 2015.
- F2Includes shares of HomeStreet common stock acquired by the reporting person through the reporting person's contributions to the HomeStreet, Inc. 401(k) Savings Plan (the "401(k) Plan") since the last report filed by the reporting person.
- F3Participants in the 401(k) Plan have the authority to direct voting of shares they hold through the 401(k) Plan.
- F4Each RSU represents a contingent right to receive one share of HomeStreet common stock.
- F5On February 27, 2015, the reporting person was granted 3,066 restricted stock units (RSUs), which were scheduled to vest incrementally in equal amounts on February 27, 2016, February 27, 2017, and February 27, 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.
- F6The reporting person's remaining RSUs include 1,022 RSUs granted on February 27, 2015, which vest on February 27, 2018, 1,752 RSUs granted on January 28, 2016, which vest incrementally in equal amounts on January 28, 2018 and January 28, 2019, respectively, and 2,229 RSUs granted on January 26, 2017, which vest incrementally in equal amounts on January 26, 2018, January 26, 2019 and January 26, 2020, 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.