[Form 4] Mr. Cooper Group Inc. Insider Trading Activity
Rhea-AI Filing Summary
Mr. Cooper Group Inc. (COOP) insider Steven D. Scheiwe reported dispositions tied to the completion of a merger transaction that reorganized Mr. Cooper into a Rocket Companies subsidiary. Under the disclosed Merger Agreement, each pre-merger Mr. Cooper share converted into 11 shares of Rocket Class A common stock plus cash in lieu of fractions. The Form 4 shows Mr. Scheiwe disposed of 49,596 shares as direct holdings and 32,803 shares as indirect holdings through the Scheiwe Family Living Trust, with both lines showing 0 shares beneficially owned following the transactions. The filing cites the corporate mergers that made Maverick Merger Sub 2, LLC the surviving entity and records the Form 4 signature by an attorney-in-fact.
Positive
- Merger consideration specified: each Mr. Cooper share converted into 11 shares of Rocket Class A common stock plus cash for fractional shares
- Form 4 filed: reporting of insider ownership changes completed, showing compliance with Section 16 reporting
Negative
- Reporting person reduced holdings to 0 shares (direct) after disposing of 49,596 shares
- Indirect holdings via Scheiwe Family Living Trust also reduced to 0 after disposing of 32,803 shares
Insights
Insider disposals are merger-related, reflecting the share conversion under the Merger Agreement.
The Form 4 discloses that the disposals of 49,596 and 32,803 Mr. Cooper shares occurred in connection with the completed merger that converted Mr. Cooper into a Rocket Companies subsidiary and provided 11 Rocket Class A shares per Mr. Cooper share plus cash for fractions.
This filing documents the mechanical effect of the merger on beneficial ownership rather than an unrelated sale; the reporting person’s direct and indirect holdings are shown as 0 following the transactions.
Form 4 properly reports Section 16 dispositions tied to a corporate reorganization.
The transaction code J and the explanatory footnote tie the changes to the Agreement and Plan of Merger dated March 31, 2025. The filing identifies the surviving entity as Maverick Merger Sub 2, LLC and records the attorney-in-fact signature dated 10/03/2025.
This is a procedural insider report of ownership conversion and disposition resulting from the merger; it establishes compliance with reporting obligations.