[Form 4] Mr. Cooper Group Inc. Insider Trading Activity
Rhea-AI Filing Summary
Kurt G. Johnson, Executive Vice President and Chief Financial Officer of Maverick Merger Sub 2, LLC (formerly Issuer, trading as COOP), reported disposition of a total of 78,911 shares of the Issuer's common stock on 10/01/2025 in connection with a merger described in the filing. The filing explains that under the Merger Agreement dated March 31, 2025, each share of the Issuer was converted into 11 shares of Rocket Companies, Inc. common stock and cash in lieu of fractional shares, and outstanding RSU awards were converted into RSUs for Rocket stock on the same vesting terms. Following the reported transactions, the filing shows 24,685 shares of common stock beneficially owned by the reporting person and 0 RSUs or performance stock units for the Issuer.
Positive
- RSU awards were converted into Rocket RSUs on the same vesting terms, preserving award economics
- Merger terms specify an 11-for-1 exchange ratio, providing a clear conversion formula
Negative
- Reporting person disposed of a total of 78,911 Issuer common shares on 10/01/2025
- Following the transactions, the filing shows 0 Issuer RSUs and performance units remaining for the reporting person
Insights
Insider reported disposal of 78,911 COOP shares tied to the merger.
The Form 4 records two disposals on 10/01/2025 totaling 78,911 shares of the Issuer's common stock and shows remaining beneficial ownership of 24,685 shares. The reported dispositions are tied to the described Merger Agreement that converted Issuer shares into Rocket Companies, Inc. stock using an 11-for-1 exchange ratio.
This matters because insider Form 4 disclosures change the public register of issuer ownership and confirm that equity holdings and equity awards were converted or cancelled at the Maverick Effective Time rather than sold on the open market.
RSUs and performance units were converted into Rocket RSUs under the merger terms.
The filing states that time- and performance-based RSU awards were converted per the Merger Agreement, with performance determination made prior to the Maverick Effective Time and the number of Rocket shares determined by multiplying by the 11-share Exchange Ratio. The Form 4 shows 47,742 performance stock units converted and thereafter 0 Issuer RSUs remaining.
This is significant for investors tracking dilution and executive equity realization because award conversions and resulting share counts affect future Rocket share distributions and executive compensation profiles.