SEC Form 4 · accession 0001518715-18-000287
Mechanics Bancorp · MCHB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David H Straus
Officer — Sr EVP, Comm'l Banking Dir.
Period of report
Nov 1, 2018
Accepted (ET)
Nov 2, 2018 · 2:18 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 | Nov 1, 2018 | M | 1,817 | $0.00 | A | 17,298 | D | |
| Common StockF2,F3 | Nov 2, 2018 | A | 442 | $27.01 | D | 16,856 | 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 UnitsF6,F4,F5 | — | Nov 1, 2018 | M | 1,817 | D | — | — | Common Stock | 1,817 | 0 | D |
Explanation of responses
- F1Pursuant to the award agreements covering Mr. Straus's Restricted Stock Units ("RSUs"), he received 1,817 shares of common stock upon his retirement from HomeStreet Bank (the "Company") on November 1, 2018 due to the prorated vestings of RSUs granted on January 28, 2016, January 26, 2017 and January 29, 2018 as further described below.
- F2Shares sold to cover reporting person's tax liability in connection with the prorated vesting of RSUs upon his retirement from the Company.
- F3The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.89 to $27.08, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- F4Each 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.
- F5Pursuant to the terms of the applicable award agreements, the reporting person received a prorated portion of RSUs at retirement from the Company. The prorated vesting of each outstanding RSU was as follows: 733 RSUs from an award granted on January 28, 2016, 565 RSUs from an award granted on January 26, 2017 and 519 RSUs from an award granted on January 29, 2018.
- F6Upon reporting person's retirement from the Company, the remaining 2,739 unvested RSUs granted to the reporting person pursuant to such awards were cancelled.