Mechanics Bancorp|4Feb 3, 5:48 PM ET

Cochran Patricia 4

4 · Mechanics Bancorp · Filed Feb 3, 2026

AI-generated summary of this filing

Updated Feb 3, 2026

MCHB Director Patricia Cochran Receives Award in Merger

What Happened

Patricia Cochran, a director of Mechanics Bancorp (MCHB), received equity in connection with the merger of HomeStreet Bank into Mechanics Bank. On 2025-09-02 she was credited with 13,204 shares (award/acquisition; no per-share price reported) and 2,554 derivative/incentive units recorded at $0.00 (no cash paid).
The 13,204 shares had no cash purchase price reported (merger consideration). Using the Merger effective-date close price cited in the filing ($13.87), those 13,204 shares imply an approximate market value of $183,139. The 2,554 units are derivative/incentive units with no immediate cash value.

Key Details

Transaction date: 2025-09-02; Form filed: 2026-02-03 (filed late relative to the usual 2-business-day Form 4 deadline).
Reported prices: 13,204 shares — N/A (merger award); 2,554 derivative units — $0.00.
Shares owned after transaction: Not specified in the provided excerpt.
Notable footnotes:
- F1–F2: Holdings were received/converted as merger consideration (MB shares/RSUs/incentive units converted into Mechanics Bancorp Class A stock or equivalents).
- F2 notes a conversion rate used in the Merger and that the Class A close price on the effective date was $13.87 (used above to show implied value).
- F3–F4: Each incentive unit equals the economic equivalent of one share; Cochran elected to defer payment on incentive units until retirement/termination or a change in control.
- F5: Filing notes 37 additional incentive units acquired later via dividend reinvestment.
Filing timeliness: Late (transaction occurred 2025-09-02; Form 4 filed 2026-02-03).

Context

These entries reflect merger consideration and converted incentive units, not open-market purchases or sales—so they do not signal a buy/sell decision by the insider.
The 2,554 units are derivative/incentive units that Cochran has elected to defer; they carry economic equivalence to shares but no immediate cash value.
Because the Form 4 was filed well after the transaction date, retail investors should consult the full filing for any additional details or supplemental disclosures.

Form 4

Period: 2025-09-02

Director

Transactions

Award
Class A Common Stock
[F1][F2]
2025-09-02+13,204→ 13,204 total
Award
Incentive Units - Deferred
[F2][F3][F4][F5]
2025-09-02+2,554→ 2,591 total
→ Class A Common Stock (2,554 underlying)

Footnotes (5)

[F1]Received in exchange for an aggregate of four shares of Mechanics Bank ("MB") original voting common stock and MB restricted stock units in connection with the merger of HomeStreet Bank, a wholly owned subsidiary of Issuer, with and into MB, pursuant to which MB continued as the surviving corporation and as a wholly owned subsidiary of Issuer (the "Merger").
[F2]As consideration for the Merger, (i) each share of MB voting common stock converted into the right to receive 3,301.0920 shares of Issuer Class A Common Stock, which, on the effective date of the Merger, had a closing price of $13.87 per share, (ii) each MB restricted stock unit of the Reporting Person converted into restricted stock units of Issuer for the right to receive 3,301.0920 shares of Issuer Class A Common Stock, and (iii) each MB incentive unit of the Reporting Person converted into incentive units of Issuer of the economic equivalent of 3,301.0920 shares of Issuer Class A Common Stock.
[F3]Each incentive unit is the economic equivalent of one share of Issuer Class A Common Stock.
[F4]The Reporting Person has elected to defer payment on such incentive units until the earlier of (i) the retirement or termination of the Reporting Person, or (ii) a change in control of Issuer.
[F5]Includes 37 incentive units acquired on December 15, 2025 pursuant to dividend reinvestment.

Signature

/s/ Glenn Shrader, Attorney in fact for Patricia Cochran|2026-02-03

1 file