Rocket (RKT) Director Converts Mr. Cooper Stock; Receives 10,974 RSUs
Rhea-AI Filing Summary
Reporting person Olson Tagar, a director of Rocket Companies, Inc. (RKT), reported transactions tied to Rocket's acquisition of Mr. Cooper Group Inc. On October 1, 2025, Mr. Tagar's outstanding Mr. Cooper shares converted under the merger into Rocket Class A common stock at a rate of 11.0 shares of Rocket per share of Mr. Cooper, with cash paid for fractional shares.
After the merger conversion and a grant of restricted stock units, the Form 4 shows 267,366 shares resulting from the merger conversion and 10,974 RSUs granted (exempt under Rule 16b-3), for a total beneficial ownership of 278,340 shares of Rocket Class A common stock following the reported transactions.
Positive
- Merger conversion completed at 11.0 shares of Rocket per Mr. Cooper share
- RSU grant of 10,974 units, vesting in one year (Rule 16b-3 exempt)
- Reporting person beneficial ownership increased to 278,340 Rocket Class A shares
Negative
- None.
Insights
Director received equity from a merger and additional RSUs, increasing direct holdings to 278,340 shares.
The Form 4 documents that Mr. Tagar's Mr. Cooper shares converted into Rocket Class A stock at the stated 11.0 exchange ratio as part of the completed merger on October 1, 2025. The filing also records an RSU grant of 10,974 units that vest in full in one year.
This matters for governance and insider alignment because the director now holds a larger direct equity stake in Rocket, comprised of merger consideration plus time‑based RSUs. The RSUs are exempt under Rule 16b-3, indicating they were granted under a shareholder-approved plan to align long-term interests.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A common stock | 267,366 | $0.00 | -- |
| Grant/Award | Class A common stock | 10,974 | $0.00 | -- |
Footnotes (1)
- On October 1, 2025, Rocket Companies, Inc. (?Rocket?) completed the previously announced acquisition of Mr. Cooper Group Inc. (?Mr. Cooper?). 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, and cash payable in lieu of fractional shares, without interest and subject to any applicable withholding taxes. On October 1, 2025, the Reporting Person was granted restricted stock units (?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 full on the first anniversary of the grant date.
