SEC Form 4 · accession 0001518715-18-000083
Mechanics Bancorp · MCHB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Endresen
Officer — EVP, Comm'l RE & Capital Pres.
Period of report
Feb 27, 2018
Accepted (ET)
Mar 1, 2018 · 2:37 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, 2018 | M | 1,022 | $0.00 | A | 3,291 | D | |
| Common StockF2 | holding | — | — | — | 447 | 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 UnitsF5,F3,F4 | — | Feb 27, 2018 | M | 1,022 | D | — | — | Common Stock | 1,022 | 4,966 | D |
Explanation of responses
- F1Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on February 27, 2015.
- F2Participants 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.
- F3Each 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.
- F4On February 27, 2015, the reporting person was granted 3,066 RSUs, which 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 vest on that date.
- F5The reporting person's remaining RSUs includes 876 RSUs granted on January 28, 2016, which vest on January 28, 2019, and 1,486 RSUs granted on January 26, 2017, which vest incrementally in equal amounts on January 26, 2019 and January 26, 2020, respectively, and 2,604 RSUs granted on January 29, 2018, 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.