SEC Form 4 · accession 0001518715-19-000032
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 29, 2019
Accepted (ET)
Jan 31, 2019 · 5:08 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 | Jan 29, 2019 | M | 211 | $0.00 | A | 23,224 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common Stock | Jan 29, 2019 | F | 63 | $24.58 | D | 23,161 | I | Bennion Revocable Living Trust dated 12/19/02 |
| Common Stock | holding | — | — | — | 10,070 | D | ||
| Common StockF3 | 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,F4,F5 | — | Jan 29, 2019 | M | 211 | D | — | — | Common Stock | 211 | 652 | D |
Explanation of responses
- F1Common stock acquired upon vesting of Restricted Stock Units ("RSUs") granted on January 29, 2018.
- 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.
- F3Participants 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 held in the 401(k) Plan is as of January 24, 2019.
- 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 29, 2018, the reporting person was granted 633 RSUs, 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.
- F6The reporting person's remaining RSUs includes 230 RSUs granted on January 26, 2017, which vest on January 26, 2020, and 422 RSUs granted on January 29, 2018, which vest incrementally in equal amounts on 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.