A mechanism to process units of data associated with a dependent data stream using different threads of execution and a common data structure in memory. Accessing the common data structure in memory for the processing uses a single read operation and a single write operation. The folding of multiple read-modify-write memory operations in such a manner for multiple multi-threaded stages of processing includes controlling a first stage, which operates on the same data unit as a second stage to pass context state information to the second stage for coherency.