SEC Form 4 · accession 0001518715-18-000244
Mechanics Bancorp · MCHB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward Schultz
Officer — EVP, Dir. of Comm'l Banking
Period of report
Jun 30, 2018
Accepted (ET)
Jul 3, 2018 · 3:09 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 | Jun 30, 2018 | M | 5,439 | $0.00 | A | 11,644 | D |
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,F5,F2,F3 | — | Jun 30, 2018 | M | 5,439 | D | — | — | Common Stock | 5,439 | 12,677 | D |
Explanation of responses
- F1Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on June 30, 2016.
- F2Each 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.
- F3On June 30, 2016, the reporting person was granted 16,317 RSUs, which vest incrementally in equal amounts on June 30, 2017, June 30, 2018, and June 30, 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.
- F4The reporting person's remaining RSUs includes 5,439 RSUs granted on June 30, 2016, which vest on June 30, 2019, 1,532 RSUs granted on January 26, 2017, which vest incrementally in equal amounts on January 26, 2019 and January 26, 2020, 3,474 RSUs granted on November 1, 2017, which vest incrementally in equal amounts on November 1, 2018, November 1, 2019 and November 1, 2020, respectively, and 2,232 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.
- F5The reporting person's Form 3 filed January 8, 2018 and the reporting person's Form 4 filed January 30, 2018, erroneously reported the number of shares granted to Mr. Schultz on November 1, 2017. The correct number is 3,474 RSUs, which is reflected in the total number of RSUs reported on this Form 4.