Mechanics Bancorp director granted 5,513 RSUs
Mechanics Bancorp director Patricia Cochran reported equity compensation activity rather than open-market trading.
Rhea-AI Filing Summary
Mechanics Bancorp director Patricia Cochran reported equity compensation activity rather than open-market trading. She received a grant of 5,513 Restricted Stock Units (RSUs) on May 28, 2026, which vest on May 28, 2027, each RSU representing one share of Class A common stock.
On May 27, 2026, 3,301 previously granted RSUs vested and were converted into 3,301 shares of Class A common stock, increasing her direct common stock holdings to 13,204 shares. She also holds 2,554 deferred incentive units, each economically equivalent to one share, with payment deferred until retirement, termination, or a change in control.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,301 shares exercised/converted
Exercise
4 txns
Insider
Cochran Patricia
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 5,513 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 3,301 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 3,301 | $0.00 | $0.00 |
| holding | Incentive Units - Deferred | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 5,513 contracts (Direct);
Class A Common Stock — 13,204 shares (Direct);
Incentive Units - Deferred — 2,554 contracts (Direct)
Footnotes (7)
- F1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Mechanics Bancorp (the "Company") Class A common stock. RSUs do not require the holder to pay any consideration on vesting.
- F2. Granted but unvested RSUs were previously reported in Table I. Going forward, granted but unvested RSUs will be reported in Table II and will be reported in Table I when they vest and convert into Class A common stock. Share totals of securities beneficially owned following reported transaction(s) reported in Table I have been adjusted to reflect this change in reporting and do not include unvested RSUs.
- F3. On May 21, 2025, the Reporting Person was granted the equivalent of 3,301 of the Company's RSUs, which vest on May 27, 2026. Upon vesting, the Reporting Person will receive a number of shares of the Company's Class A common stock equal to the number of RSU's that vest on that date.
- F4. On May 28, 2026, the Reporting Person was granted 5,513 RSUs, which vest on May 28, 2027. Upon vesting, the Reporting Person will receive a number of shares of the Company's Class A common stock equal to the number of RSU's that vest on that date.
- F5. Each incentive unit is the economic equivalent of one share of Issuer Class A common stock.
- F6. 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.
- F7. Includes 73 incentive units acquired on March 19, 2026 and 128 incentive units acquired on May 28, 2026.
Key Figures
New RSU grant: 5,513 RSUs
Vested RSUs converted: 3,301 shares
Direct common shares: 13,204 shares
+2 more
5 metrics
New RSU grant
5,513 RSUs
Granted May 28, 2026; vesting May 28, 2027
Vested RSUs converted
3,301 shares
RSUs granted May 21, 2025; vested May 27, 2026
Direct common shares
13,204 shares
Class A common stock held after May 27, 2026 transactions
Deferred incentive units
2,554 units
Economically equivalent to Class A common stock, payment deferred
Derivative exercise
3,301 units
Exercise/conversion of RSUs into Class A common stock
Key Terms
Restricted Stock Units, Class A common stock, incentive units, change in control, +1 more
5 terms
Restricted Stock Units financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Class A common stock financial
"one share of Mechanics Bancorp (the "Company") Class A common stock"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
incentive units financial
"Each incentive unit is the economic equivalent of one share of Issuer Class A common stock"
Incentive units are ownership stakes a company grants to employees, contractors or advisors as part of pay, which become valuable only after certain conditions are met (for example, after a period of time or when performance targets are hit). They matter to investors because they create potential future claims on profits or ownership—similar to performance-based coupons that convert into a slice of the business—and can dilute existing holders or change incentives for management.
change in control financial
"until the earlier of (i) the retirement or termination ... or (ii) a change in control of Issuer"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
beneficially owned financial
"securities beneficially owned following reported transaction(s) reported in Table I have been adjusted"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
FAQ
What equity awards did Mechanics Bancorp (HMST) director Patricia Cochran report?
Patricia Cochran reported RSU and incentive unit activity. She was granted 5,513 Restricted Stock Units on May 28, 2026, and 3,301 previously granted RSUs vested into common shares on May 27, 2026, reflecting routine director equity compensation rather than open-market stock purchases or sales.
How many Mechanics Bancorp (HMST) RSUs were granted to Patricia Cochran and when do they vest?
Cochran received 5,513 new RSUs. The grant occurred on May 28, 2026 and these Restricted Stock Units vest on May 28, 2027. Upon vesting, she will receive one share of Mechanics Bancorp Class A common stock for each RSU that vests on that date.
What happened to Patricia Cochran’s previously granted Mechanics Bancorp (HMST) RSUs?
3,301 earlier RSUs vested and converted to shares. RSUs granted on May 21, 2025 vested on May 27, 2026, delivering 3,301 shares of Mechanics Bancorp Class A common stock. This transaction reflects the scheduled conversion of equity awards, not an open-market stock purchase.
What are Patricia Cochran’s Mechanics Bancorp (HMST) deferred incentive units?
Deferred incentive units mirror the value of common shares. She holds 2,554 incentive units, each economically equivalent to one share of Class A common stock. Payment on these units is deferred until retirement, termination, or a change in control of Mechanics Bancorp under her election.
Does Patricia Cochran’s Mechanics Bancorp (HMST) Form 4 show any stock sales?
The Form 4 does not show any open-market stock sales. Reported activity consists of RSU grants, vesting and conversion into Class A common stock, plus deferred incentive units. No transactions are coded as open-market purchases or sales in the disclosed summary.
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