SEC Form 4 · accession 0001518715-18-000049
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
Jan 26, 2018
Accepted (ET)
Jan 31, 2018 · 5:11 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,F2,F3 | Jan 26, 2018 | M | 230 | $0.00 | A | 21,821 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common StockF4,F2,F3 | Jan 28, 2018 | M | 298 | $0.00 | A | 22,119 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common StockF5,F2,F3 | Jan 29, 2018 | M | 339 | $0.00 | A | 22,458 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common StockF6 | holding | — | — | — | 10,070 | D | ||
| Common StockF7 | holding | — | — | — | 0 | 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 UnitsF8,F9 | — | Jan 26, 2018 | M | 230 | D | — | — | Common Stock | 230 | 1,395 | D |
| Restricted Stock UnitsF8,F10 | — | Jan 28, 2018 | M | 298 | D | — | — | Common Stock | 298 | 1,097 | D |
| Restricted Stock UnitsF8,F11 | — | Jan 29, 2018 | M | 339 | D | — | — | Common Stock | 339 | 758 | D |
| Restricted Stock UnitsF13,F8,F12 | — | Jan 29, 2018 | A | 633 | A | — | — | Common Stock | 633 | 1,391 | D |
Explanation of responses
- F1Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on January 26, 2017.
- F10On January 28, 2016, the reporting person was granted 894 RSUs, 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 vest on that date.
- F11On January 29, 2015, the reporting person was granted 1,017 RSUs, 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 vest on that date.
- F12On January 29, 2018, the reporting person was granted 633 RSUs, which vest incrementally in equal amounts on January 29, 2019, January 29, 2020 and January 29, 2021, 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 vest on that date.
- F13The reporting person's remaining RSUs includes 298 RSUs granted on January 28, 2016, which vest on January 28, 2019, and 460 RSUs granted on January 26, 2017, which vest incrementally in equal amounts on 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 vest on that date.
- F2Common stock awarded to the reporting person pursuant to the vesting of RSUs are immediately deposited into the Bennion Revocable Living Trust dated 12/19/02 as per the reporting person's instructions.
- F3Mr. Bennion is the co-trustee with Diane Bennion for the Bennion Revocable Living Trust dated 12/19/02.
- F4Common stock acquired upon vesting of RSUs granted on January 28, 2016.
- F5Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on January 29, 2015.
- F6The reporting person previously reported that 273 shares were owned directly by the reporting person and that 31,388.4 shares were owned indirectly by the reporting person through the Bennion Revocable Living Trust dated 12/19/02 (the "Trust"), when in fact the reporting person owned 10,070.4 shares directly and 21,591 shares indirectly through the Trust as of the date of the last report filed by the reporting person.
- F7Participants in HomeStreet, Inc.'s 401(k) Savings Plan, or the "401(k) Plan", have the authority to direct voting of shares they hold through the 401(k) Plan.
- F8Each RSU represents a contingent right to receive one share of HomeStreet common stock. RSUs do not require the holder to pay any consideration on vesting.
- F9On January 26, 2017, the reporting person was granted 690 RSUs, 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 vest on that date.