RKLB Form 4: Equatorial Trust executes scripted sales, ownership falls to 2.5M
Rhea-AI Filing Summary
Peter Beck, Kerryn Beck, Warren Butler, Equatorial Trust and Peek Street Equatorial Trustee Limited reported a series of sales of Rocket Lab Corp (RKLB) common stock on September 15 and 16, 2025. The filings show multiple disposals executed under a Rule 10b5-1 trading plan adopted by the Equatorial Trust on June 13, 2025, with weighted average prices disclosed for groups of sales ranging from about $47.41 to $55.16 per share.
The Form 4s disclose that the shares are held directly by the Trust and that Peek Street Equatorial Trustee Limited is the trustee, with Peter Beck, Kerryn Beck and Warren Butler serving as directors of the Trustee and sharing voting and investment control; each is therefore deemed an indirect beneficial owner. Following the reported transactions, the Trust’s reported indirect beneficial ownership is shown as 2,500,000 shares in the most recent line item.
Positive
- Sales executed under a Rule 10b5-1 trading plan, providing that the transactions were pre-arranged and not necessarily discretionary.
- Weighted-average prices and price ranges for each tranche are disclosed, and the reporting persons commit to provide transaction-level details on request.
Negative
- Material reduction in reported indirect beneficial ownership reflected by the most recent line showing 2,500,000 shares beneficially owned following the reported transactions.
Insights
TL;DR Multiple automatic sales under a June 13, 2025 Rule 10b5-1 plan reduced the Trust’s reported indirect stake to 2,500,000 shares.
The Form 4 filings document systematic disposals by the Equatorial Trust on September 15-16, 2025, executed pursuant to a pre-existing Rule 10b5-1 plan. Weighted-average prices are provided for tranches of sales with reported price ranges between $47.41 and $55.16 per share. The disclosures show shared voting and investment control by the Trustee directors and state that the Trustee holds the shares directly while the individuals are deemed indirect beneficial owners. The filings are routine compliance disclosures rather than statements about company operations or performance.
TL;DR Reported sales were implemented via a trustee under a documented 10b5-1 plan; filing clarifies indirect ownership and disclaimer of direct beneficial ownership.
The explanatory notes specify that Peek Street Equatorial Trustee Limited is the trustee of the Equatorial Trust and that Peter Beck, Kerryn Beck and Warren Butler serve as directors of the Trustee with shared control, resulting in deemed indirect beneficial ownership. The reporting persons expressly disclaim beneficial ownership except to the extent of any pecuniary interest. The filing includes attorney-in-fact signatures and undertakings to provide transaction-level price details on request, consistent with transparent Section 16 reporting practices.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 541,708 | $48.0403 | $26.02M |
| Sale | Common Stock | 724,204 | $48.8984 | $35.41M |
| Sale | Common Stock | 111,298 | $49.9823 | $5.56M |
| Sale | Common Stock | 47,055 | $50.8814 | $2.39M |
| Sale | Common Stock | 12,177 | $51.8102 | $631K |
| Sale | Common Stock | 329,621 | $53.5413 | $17.65M |
| Sale | Common Stock | 699,956 | $54.1653 | $37.91M |
| Sale | Common Stock | 33,981 | $54.9573 | $1.87M |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents the sale of shares which occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Equatorial Trust (the "Trust") on June 13, 2025. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.7900 to $53.7875, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. These shares are held directly by the Trust. Peek Street Equatorial Trustee Limited (the "Trustee") is the trustee of the Trust and each of Peter Beck, Kerryn Beck and Warren Butler serve as a director of the Trustee with shared voting and investment control of the shares and, as a result, the Trustee and each such individual is deemed to be an indirect beneficial owner of these securities. Each reporting person disclaims beneficial ownership of these securities, except to the extent, if any, of his, her or its pecuniary interest therein, and the filing of this Form 4 is not an admission that any reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $53.7900 to $54.7800, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $54.7900 to $55.1600, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.4100 to $48.4050, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.4100 to $49.4050, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.4100 to $50.4050, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.4100 to $51.4000, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.4100 to $52.0500, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
