SEC Form 4 · accession 0001518715-19-000021
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, 2019
Accepted (ET)
Jan 29, 2019 · 8:40 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, 2019 | M | 230 | $0.00 | A | 22,873 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common StockF3 | Jan 26, 2019 | F | 69 | $24.32 | D | 22,804 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common StockF4,F2,F3 | Jan 28, 2019 | M | 298 | $0.00 | A | 23,102 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common StockF3 | Jan 28, 2019 | F | 89 | $24.55 | D | 23,013 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common Stock | holding | — | — | — | 10,070 | D | ||
| Common StockF5 | 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 UnitsF6,F7 | — | Jan 26, 2019 | M | 230 | D | — | — | Common Stock | 230 | 1,161 | D |
| Restricted Stock UnitsF9,F6,F8 | — | Jan 28, 2019 | M | 298 | D | — | — | Common Stock | 298 | 863 | D |
Explanation of responses
- F1Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on January 26, 2017.
- 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.
- F5Participants 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. The amount of shares in the 401(k) Plan is as of January 24, 2019.
- F6Each 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.
- F7On 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.
- F8On 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.
- F9As of January 28, 2019, the reporting person's remaining RSUs includes 230 RSUs granted on January 26, 2017, which vest on January 26, 2020, and 633 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.