Pellegrino Nancy D 4

What Happened
Nancy D. Pellegrino, a director of Mechanics Bancorp (MCHB), was granted 5,513 restricted stock units (RSUs) on May 28, 2026. The award is recorded as a derivative acquisition (code A) at $0.00 per RSU; RSUs are contingent rights to receive shares rather than an immediate cash purchase. The RSUs will vest on May 28, 2027, at which time Ms. Pellegrino will receive one share of Class A common stock for each vested RSU.

Key Details

• Transaction date: 2026-05-28 (reported on Form 4 filed 2026-05-29).
• Grant: 5,513 RSUs; reported price $0.00 (no cash paid).
• Vesting: RSUs vest on 2027-05-28; upon vesting each RSU converts to one share.
• Shares owned after transaction: not specified in the excerpt; footnote indicates 1,000 shares are held jointly with spouse Mark Pellegrino.
• Footnotes: F2 explains RSUs represent a contingent right to one share and require no payment on vesting; F3 confirms grant date and vesting schedule.
• Timeliness: Filing appears timely (transaction 5/28/2026; filed 5/29/2026).

Context
This is a typical equity compensation grant to a director rather than an open‑market purchase or sale. RSU awards are common for aligning executive/director incentives with shareholder value; they do not involve immediate cash outlay and only convert to actual shares if/when they vest. This filing does not indicate any immediate sale of shares.