Rocket (RKT) completes Mr. Cooper deal; 816,743 RSUs granted
Rhea-AI Filing Summary
Rocket Companies, Inc. completed the acquisition of Mr. Cooper Group Inc. on October 1, 2025. Under the merger agreement, each outstanding share of Mr. Cooper common stock converted into 11.0 shares of Rocket Class A common stock, with cash for fractional shares. Reporting person Jesse K. Bray (President & CEO) received multiple Class A share issuances and RSUs tied to that exchange and to a separate grant. Following the transactions, Mr. Bray beneficially owns 12,684,819 shares of Rocket Class A common stock, held both directly and indirectly (including 6,965,057 shares held indirectly by the Jesse K. Bray Living Trust). He was also granted 816,743 Rocket RSUs that vest in equal installments on the first six semi-annual anniversaries beginning October 1, 2025. The Form 4 was signed on October 2, 2025.
Positive
- Completed acquisition of Mr. Cooper on 10/01/2025 resulting in equity conversion at an 11.0 exchange ratio
- Reporting person ownership increased to 12,684,819 Rocket Class A shares after the conversion
- RSU grant of 816,743 shares vests in equal installments across the first six semi-annual anniversaries beginning 10/01/2025
Negative
- No negative items explicitly disclosed in this Form 4 regarding litigation, debt changes, or forfeitures
Insights
Merger converted Mr. Cooper equity into Rocket stock at an 11:1 ratio.
The Merger Agreement caused each Mr. Cooper share to convert into 11.0 shares of Rocket Class A common stock, producing large issuances to legacy Mr. Cooper holders including the reporting person.
This conversion materially increased the reporting person's Rocket holdings to 12,684,819 shares, reflecting the transaction's direct equity transfer mechanics.
Insider disclosures show direct and indirect holdings plus RSU grants tied to the merger.
The Form 4 reports direct acquisitions of Class A stock and conversion of RSUs, and discloses 6,965,057 shares held indirectly via the Jesse K. Bray Living Trust.
The newly granted 816,743 RSUs vest semi-annually over three years; filings were executed under applicable Rule 16b-3 exemptions and timely signed on 10/02/2025.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A common stock | 2,182,378 | $0.00 | -- |
| Grant/Award | Class A common stock | 9,685,698 | $0.00 | -- |
| Grant/Award | Class A common stock | 816,743 | $0.00 | -- |
| Grant/Award | Class A common stock | 6,965,057 | $0.00 | -- |
Footnotes (1)
- On October 1, 2025, Rocket Companies, Inc. (?Rocket?) completed the previously announced acquisition of Mr. Cooper Group Inc. (?Mr. Cooper? and such acquisition, the ?Mr. Cooper Acquisition?). Pursuant to the Agreement and Plan of Merger (the ?Merger Agreement?), by and among Rocket, Mr. Cooper, Maverick Merger Sub, Inc. (?Maverick Merger Sub?) and Maverick Merger Sub 2, LLC (?Forward Merger Sub?), Maverick Merger Sub merged with and into Mr. Cooper (the ?Maverick Merger?), with Mr. Cooper surviving the Maverick Merger and continuing as a direct, wholly owned subsidiary of Rocket and immediately following such Maverick Merger, Mr. Cooper merged with and into Forward Merger Sub (the ?Forward Merger?), with Forward Merger Sub surviving such Forward Merger and continuing as a direct, wholly owned subsidiary of Rocket. (con't in FN2) (con't from FN1) Pursuant to the Merger Agreement, each outstanding share of Mr. Cooper common stock, par value $0.01 per share, held by the Reporting Person prior to the effective time of the Maverick Merger converted into a right to receive 11.0 shares of Rocket Class A common stock, par value $0.00001 per share (the "Exchange Ratio"), and cash payable in lieu of fractional shares, without interest and subject to any applicable withholding taxes. Directly owned by Jesse K. Bray Living Trust, of which the Reporting Person is trustee. Reporting Person and members of his immediate family are the sole beneficiaries of the trust. Pursuant to the Merger Agreement, at the effective time of the Maverick Merger, each outstanding restricted stock unit (?RSU?) of Mr. Cooper (including performance-based RSUs for which performance was determined prior to the consummation of the Mr. Cooper Acquisition, collectively, the ?Mr. Cooper Awards?) was converted into an RSU of Rocket for a number of shares of Class A common stock of Rocket determined by multiplying the number of Mr. Cooper shares subject to such Mr. Cooper Awards by the Exchange Ratio. The converted Mr. Cooper Awards are subject to the same time-based vesting conditions as were applicable to such Mr. Cooper Awards immediately prior to the effective time of the Maverick Merger. On October 1, 2025, the Reporting Person was granted RSUs under the Rocket Companies, Inc. 2020 Omnibus Incentive Plan in a transaction exempt under Rule 16b-3. Each RSU represents the contingent right to receive a share of Class A common stock of Rocket for each vested RSU. The RSUs will vest in equal installments on the first six semi-annual anniversaries of October 1, 2025.
