SEC Form 4 · accession 0001518715-19-000026
Mechanics Bancorp · MCHB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark K Mason
Officer — CEO, President · Director
Period of report
Jan 26, 2019
Accepted (ET)
Jan 29, 2019 · 9:06 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 | Jan 26, 2019 | M | 3,015 | $0.00 | A | 139,595 | D | |
| Common Stock | Jan 26, 2019 | F | 1,347 | $24.32 | D | 138,248 | D | |
| Common StockF2 | Jan 28, 2019 | M | 3,409 | $0.00 | A | 141,657 | D | |
| Common Stock | Jan 28, 2019 | F | 1,327 | $24.55 | D | 140,330 | D | |
| Common StockF3 | holding | — | — | — | 300 | I | Courtney Mason, Mr. Mason's spouse |
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 | — | Jan 26, 2019 | M | 3,015 | D | — | — | Common Stock | 3,015 | 22,623 | D |
| Restricted Stock UnitsF7,F4,F6 | — | Jan 28, 2019 | M | 3,409 | D | — | — | Common Stock | 3,409 | 19,214 | D |
Explanation of responses
- F1Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on January 26, 2017.
- F2Common stock acquired upon vesting of RSUs granted on January 28 2016.
- F3On April 27, 2018, the indirect acquisition of 200 shares of stock through his spouse was reported on a Form 4 for Mr. Mason. It was subsequently determined that Mr. Mason's spouse held 100 shares of stock prior to their marriage, which shares were not previously reported as indirectly held by Mr. Mason. This report includes the corrected number of shares held by his spouse.
- 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.
- F5On January 26, 2017, the reporting person was granted 9,045 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.
- F6On January 28, 2016, the reporting person was granted 10,227 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.
- F7As of January 28, 2019, the reporting person's remaining RSUs includes 3,015 RSUs granted on January 26, 2017, which vest on January 26, 2020, 7,520 RSUs granted on March 8, 2017, which vest incrementally in equal amounts on March 8, 2019 and March 8, 2020; and 8,679 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.