[Form 4] Redfin Corporation Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for Redfin Corporation (RDFN) discloses that director Robert J. Bass no longer holds Redfin equity following the closing of the company’s merger with Rocket Companies, Inc. on 1 July 2025. At the merger’s effective time, his 84,238 Redfin common shares were automatically converted into Rocket Class A shares at the agreed 0.7926 exchange ratio, with cash paid for fractional shares. In addition, a fully-vested option covering 66,666 Redfin shares (exercise price $8.46) was assumed by Rocket and adjusted to reflect the same ratio and a proportionally reduced exercise price, preserving all original vesting terms.

No open-market buying or selling occurred; the transactions are strictly mechanical results of the merger. The filing therefore confirms completion of Redfin’s conversion into a Rocket subsidiary and the corresponding elimination of Bass’s direct ownership of Redfin securities.

Insights

Corporate Governance Expert

TL;DR: Routine merger-driven conversion; confirms board member no longer holds RDFN stock.

The filing is an obligatory Section 16 update. Bass’s equity stake has migrated to Rocket per the agreed terms, demonstrating procedural compliance with the merger agreement. There is no discretionary trade and no new valuation insight beyond reconfirming the 0.7926 share exchange already disclosed in earlier merger documents. Market impact is minimal, as the transaction was fully anticipated.

Portfolio Manager

TL;DR: Neutral for investors; transaction merely maps RDFN holdings into RKT shares.

From a portfolio standpoint, this Form 4 carries little incremental information: the exchange ratio and option rollover were priced into merger arbitrage spreads weeks ago. It does, however, finalize Bass’s Redfin exposure and verifies that all vested options survive within Rocket’s capital structure, a standard practice that avoids value leakage for insiders. No signal on insider sentiment or future Rocket share disposition is provided.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bass Robert J

(Last) (First) (Middle)

C/O REDFIN CORPORATION

1099 STEWART STREET, SUITE 600

(Street)

SEATTLE WA 98101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Redfin Corp [ RDFN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2025		D(1)		84,238	D	(1)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)(2)	$8.46	07/01/2025		D(3)			66,666	(4)	12/28/2026	Common Stock	66,666	$0	0	D

Explanation of Responses:

1. The shares were disposed of pursuant to the Agreement and Plan of Merger, dated March 9, 2025 (the "Merger Agreement"), by and among Redfin Corporation (the "Company"), Rocket Companies, Inc. ("Parent"), and Neptune Merger Sub, Inc., a wholly owned subsidiary of Parent ("Merger Sub"). Pursuant to the Merger Agreement, on July 1, 2025, Merger Sub merged with and into Company (the "Merger"), with Company surviving the Merger as a wholly owned subsidiary of Parent. At the effective time of the Merger (the "Effective Time"), each issued and outstanding share of Company's common stock, par value $0.001 per share ("Company Common Stock") was converted into the right to receive 0.7926 shares of Class A Common Stock of Parent (the "Parent Common Stock" and such ratio, the "Exchange Ratio") and cash payable in lieu of fractional shares, as described in the Merger Agreement.

2. Each stock option to purchase shares of Company Common Stock represents a contingent right to purchase one share of Company Common Stock.

3. Pursuant to the Merger Agreement, at the Effective Time, each stock option to purchase shares of Company Common Stock (a "Company Option") that was unexpired, unexercised and outstanding as of the Effective Time (whether vested or unvested) was assumed by Parent and converted into an option to acquire that number of shares of Parent Common Stock equal to (i) the number of shares subject to such Company Option as of immediately prior to the Effective Time, multiplied by (ii) the Exchange Ratio, rounded down to the nearest whole number of shares of Parent Common Stock, at an exercise price per share equal to the quotient obtained by dividing the per share exercise price of the Company Option by the Exchange Ratio, rounded up to the nearest whole cent (each, an "Assumed Option"). Each such Assumed Option is otherwise subject to the same terms and conditions as applied to the corresponding Company Option immediately prior to the Effective Time, including vesting terms.

4. The stock option is fully vested and exercisable.

Remarks:

	/s/ Anthony Kappus, attorney-in-fact	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What happened to Robert J. Bass’s 84,238 Redfin (RDFN) shares?

At the merger closing on 07/01/2025, each share converted into 0.7926 Rocket Companies Class A shares, with cash for any fractional shares.

How were Bass’s 66,666 Redfin stock options treated?

They were assumed by Rocket Companies and adjusted by the 0.7926 exchange ratio, retaining their original 12/28/2026 expiration and full vesting status.

Does this Form 4 indicate insider buying or selling of RDFN on the open market?

No. The disposition is automatic and merger-related; there was no open-market trade or price set by the insider.

What is the significance of the 0.7926 exchange ratio for RDFN holders?

It determines the number of Rocket shares each Redfin shareholder received at closing, directly affecting post-merger ownership percentages.

Is Redfin still a publicly traded company after the merger?

No. Following the merger, Redfin became a wholly owned subsidiary of Rocket Companies and its common stock ceased trading as an independent ticker.