Family trust of Rocket Lab (NASDAQ: RKLB) converts 5M preferred shares

Rhea-AI Filing Summary

Rocket Lab Corp director and CEO Peter Beck reported an indirect conversion by a family trust associated with him. On May 26, 2026, the Equatorial Trust converted 5,000,000 shares of Series A Convertible Participating Preferred Stock into 5,000,000 shares of Common Stock at a stated price of $0.0000 per share, held indirectly "by Trust."

The filing notes that the Trust made this optional conversion to satisfy delivery of Common Stock for sales to be made in future months under a Rule 10b5-1 Plan adopted on March 27, 2026, indicating the sales are pre-planned. After the transaction, the Trust still holds 40,951,250 shares of the preferred stock and 5,000,000 shares of Common Stock indirectly, while Beck also holds 491,930 shares of Common Stock directly. The filing states that Beck disclaims beneficial ownership of the Trust-held securities except to the extent of his pecuniary interest.

Insights

Equity capital structure analyst

Large preferred-to-common conversion by a family trust, pre-planned for future sales, modestly reshapes Rocket Lab’s equity mix.

The Equatorial Trust converted 5,000,000 Series A Convertible Participating Preferred shares into 5,000,000 Common shares on May 26, 2026. This is a non-cash derivative conversion, reflected with code C and described as a derivative conversion in the data.

The trust remains a major holder, with 40,951,250 Series A Preferred shares and 5,000,000 Common shares indirectly after the transaction. Peter Beck’s direct Common Stock position is 491,930 shares, and he disclaims beneficial ownership of the trust’s holdings except for his pecuniary interest.

Footnotes explain the conversion supports deliveries for sales in future months under a Rule 10b5-1 Plan adopted on March 27, 2026, signaling that subsequent sales will follow a pre-arranged schedule. The actual impact for shareholders will depend on how those pre-planned sales proceed and on future disclosures in company filings.

Insider Trade Summary

5,000,000 shares exercised/converted

Mixed 3 txns

Insider Beck Peter

Role CEO

Type	Security	Shares	Price	Value
Conversion	Series A Convertible Participating Preferred Stock	5,000,000	$0.00	--
Conversion	Common Stock	5,000,000	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Series A Convertible Participating Preferred Stock — 40,951,250 shares (Indirect, by Trust); Common Stock — 5,000,000 shares (Indirect, by Trust); Common Stock — 491,930 shares (Direct, null)

Footnotes (1)

1. Held directly by the Equatorial Trust (the "Trust"), a family trust settled by the Reporting Person and Kerryn Beck. Peek Street Equatorial Trustee Limited (the "Trustee") is the trustee of the Trust and each of the Reporting Person, 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 the reported securities. The Reporting Person disclaims his beneficial ownership of the reported securities except to the extent of his pecuniary interest. Each share of Series A Convertible Participating Preferred Stock, $0.0001 par value per share ("Series A Preferred Stock"), is convertible into one share of common stock, par value $0.0001 per share ("Common Stock") of the Registrant at any time at the option of the holder, subject to certain adjustments such as in connection with stock dividends, distributions, stock splits and stock combinations. On May 26, 2026, the Trust optionally converted 5,000,000 shares of Series A Preferred Stock into 5,000,000 shares of Common Stock pursuant to the terms of the Series A Preferred Stock Certificate of Designation. The Trust converted the shares for purposes of satisfying delivery of shares of Common Stock to the broker for sales to be made in future months under a Rule 10b5-1 Plan adopted by the Trust on March 27, 2026. Each share of Series A Preferred Stock will automatically convert into one share of Common Stock, upon the earliest to occur of (a) any sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of such share of Series A Preferred Stock, except for certain permitted transfers described in the Registrant's amended and restated certificate of incorporation, as amended; (b) the first date on which the Reporting Person shall no longer serve as the Chief Executive Officer or such other executive officer position of the Registrant as approved by its Board of Directors; (c) the death or permanent disability of the Reporting Person; or (d) the first date on which the outstanding shares of Series A Preferred Stock no longer represent at least 5% of the beneficial ownership of the Registrant's outstanding Common Stock.

Key Figures

Preferred shares converted: 5,000,000 shares Common shares received by trust: 5,000,000 shares Series A Preferred remaining: 40,951,250 shares +2 more

5 metrics

Preferred shares converted 5,000,000 shares Series A Convertible Participating Preferred to Common Stock on May 26, 2026

Common shares received by trust 5,000,000 shares Indirectly held by Equatorial Trust after conversion

Series A Preferred remaining 40,951,250 shares Indirectly held by trust after conversion

Direct common holdings 491,930 shares Common Stock held directly by Peter Beck after transaction

Conversion price per share $0.0000/share Stated transaction price for preferred-to-common conversion

Key Terms

Series A Convertible Participating Preferred Stock, Rule 10b5-1 Plan, beneficial ownership, pecuniary interest, +1 more

5 terms

Series A Convertible Participating Preferred Stock financial

"Each share of Series A Convertible Participating Preferred Stock, $0.0001 par value per share"

Rule 10b5-1 Plan regulatory

"for sales to be made in future months under a Rule 10b5-1 Plan"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

beneficial ownership financial

"is deemed to be an indirect beneficial owner of the reported securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims his beneficial ownership of the reported securities except to the extent of his pecuniary interest"

automatic convert financial

"Each share of Series A Preferred Stock will automatically convert into one share of Common Stock"

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Beck Peter

(Last) (First) (Middle)

3881 MCGOWEN STREET

(Street)

LONG BEACH CALIFORNIA 90808

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Rocket Lab Corp [ RKLB ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/26/2026

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

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

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

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	05/26/2026		C		5,000,000	A	$0.0	5,000,000	I	by Trust(1)
Common Stock								491,930	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
Series A Convertible Participating Preferred Stock	(2)	05/26/2026		C(3)			5,000,000(3)	(4)	(4)	Common Stock	5,000,000	$0.0	40,951,250	I	by Trust(1)

Explanation of Responses:

1. Held directly by the Equatorial Trust (the "Trust"), a family trust settled by the Reporting Person and Kerryn Beck. Peek Street Equatorial Trustee Limited (the "Trustee") is the trustee of the Trust and each of the Reporting Person, 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 the reported securities. The Reporting Person disclaims his beneficial ownership of the reported securities except to the extent of his pecuniary interest.

2. Each share of Series A Convertible Participating Preferred Stock, $0.0001 par value per share ("Series A Preferred Stock"), is convertible into one share of common stock, par value $0.0001 per share ("Common Stock") of the Registrant at any time at the option of the holder, subject to certain adjustments such as in connection with stock dividends, distributions, stock splits and stock combinations.

3. On May 26, 2026, the Trust optionally converted 5,000,000 shares of Series A Preferred Stock into 5,000,000 shares of Common Stock pursuant to the terms of the Series A Preferred Stock Certificate of Designation. The Trust converted the shares for purposes of satisfying delivery of shares of Common Stock to the broker for sales to be made in future months under a Rule 10b5-1 Plan adopted by the Trust on March 27, 2026.

4. Each share of Series A Preferred Stock will automatically convert into one share of Common Stock, upon the earliest to occur of (a) any sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of such share of Series A Preferred Stock, except for certain permitted transfers described in the Registrant's amended and restated certificate of incorporation, as amended; (b) the first date on which the Reporting Person shall no longer serve as the Chief Executive Officer or such other executive officer position of the Registrant as approved by its Board of Directors; (c) the death or permanent disability of the Reporting Person; or (d) the first date on which the outstanding shares of Series A Preferred Stock no longer represent at least 5% of the beneficial ownership of the Registrant's outstanding Common Stock.

Remarks:

On March 30, 2026, the Reporting Person entered into a restricted stock unit cancellation agreement with the Registrant, pursuant to which the Reporting Person voluntarily forfeited and cancelled all unvested restricted stock units held by the Reporting Person, representing an aggregate of 392,155 shares of the Registrant's common stock.

	By: /s/Arjun Kampani, as Attorney-in-Fact For: Peter Beck	05/28/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did the Form 4 for Rocket Lab (RKLB) report about Peter Beck’s holdings?

The Form 4 shows Peter Beck reporting an indirect conversion by a family trust of 5,000,000 Series A preferred shares into 5,000,000 Common shares, plus direct ownership of 491,930 Common shares after the transactions.

How many Rocket Lab (RKLB) preferred shares did the family trust convert and what did it receive?

The Equatorial Trust converted 5,000,000 shares of Series A Convertible Participating Preferred Stock into 5,000,000 shares of Rocket Lab Common Stock, on an optional basis and at a stated conversion price of $0.0000 per share, according to the filing data and footnotes.

Does Peter Beck directly control the Rocket Lab (RKLB) shares held by the family trust?

The filing states the Equatorial Trust holds the securities, with a corporate trustee where Peter Beck and others share voting and investment power. Beck disclaims beneficial ownership of the trust-held shares, except to the extent of his pecuniary interest in those securities.

Why did the Rocket Lab (RKLB) family trust convert preferred stock into common stock?

Footnotes explain the trust converted 5,000,000 Series A preferred shares into 5,000,000 Common shares to satisfy delivery of Common Stock to a broker for sales to be made in future months under a Rule 10b5-1 trading plan adopted on March 27, 2026.

What Rocket Lab (RKLB) positions remain after the reported conversion transaction?

After the transaction, the Equatorial Trust holds 40,951,250 shares of Series A Convertible Participating Preferred Stock and 5,000,000 shares of Common Stock indirectly, while Peter Beck holds 491,930 shares of Common Stock directly, as reflected in the post-transaction holdings fields.