Rocket CBO has 61,315 shares withheld for taxes
Rocket Companies’ Chief Business Officer had shares withheld to cover RSU tax obligations while retaining multi-million share Class A and Class L-2 positions.
Rhea-AI Filing Summary
Rocket Companies, Inc. (RKT) reported that Chief Business Officer William D. Banfield had 61,315 shares of Class A common stock withheld on September 7, 2026 to pay tax withholding obligations upon the vesting of restricted stock units granted under the company’s 2020 Omnibus Incentive Plan. The tax-withholding disposition was priced at $14.06 per share, and Banfield now directly holds 3,667,548 shares of Class A common stock, which includes 2,826,979 shares previously reported as Class L-1 common stock that were converted to Class A under the Restated Certificate of Incorporation. He also directly holds 2,826,979 shares of Class L-2 common stock. No Rule 10b5-1 trading plan is reported.
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Insights
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Insider Trade Summary
Tax Withholding: 61,315 shares
Tax Withholding
2 txns
Insider
Banfield William D.
Role
Chief Business Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A common stock F1, F2 | 61,315 | $14.06 | $862K |
| holding | Class L-2 common stock | -- | -- | -- |
Holdings After Transaction:
Class A common stock — 3,667,548 shares (Direct);
Class L-2 common stock — 2,826,979 shares (Direct)
Footnotes (2)
- F1. Number of shares forfeited to pay tax withholding obligations upon the vesting of restricted stock units granted by the Issuer under its 2020 Omnibus Incentive Plan.
- F2. Includes 2,826,979 shares of Class A common stock that were previously reported as shares of Class L-1 common stock, which were converted to shares of Class A common stock in accordance with the Issuer's Restated Certificate of Incorporation in a transaction exempted under Rule 16b-3.
Key Figures
Shares withheld for tax: 61,315 shares
Withholding price: $14.06 per share
Class A shares held after transaction: 3,667,548 shares
+2 more
5 metrics
Shares withheld for tax
61,315 shares
Class A common stock withheld on September 7, 2026 to pay tax withholding obligations on RSU vesting
Withholding price
$14.06 per share
Value per Class A share used for tax-withholding disposition on September 7, 2026
Class A shares held after transaction
3,667,548 shares
Direct Class A common stock holdings of William D. Banfield following the September 7, 2026 tax-withholding transaction
Converted Class L-1 to Class A shares
2,826,979 shares
Class A shares previously reported as Class L-1, converted in accordance with the Restated Certificate of Incorporation and included in post-transaction Class A holdings
Class L-2 shares held
2,826,979 shares
Direct Class L-2 common stock holdings reported for William D. Banfield
Key Terms
restricted stock units, 2020 Omnibus Incentive Plan, Restated Certificate of Incorporation, Rule 16b-3
4 terms
restricted stock units financial
"upon the vesting of restricted stock units granted by the Issuer"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
2020 Omnibus Incentive Plan financial
"granted by the Issuer under its 2020 Omnibus Incentive Plan"
Restated Certificate of Incorporation regulatory
"converted to shares of Class A common stock in accordance with the Issuer's Restated Certificate of Incorporation"
A restated certificate of incorporation is an updated, single-document version of a company’s founding rules that folds together the original charter and all later changes into one clear set of terms — like replacing a patchwork manual with a clean, revised edition. Investors care because it clarifies ownership details, voting rights, share classes and other legal rules that affect control, dividends and how value is created or diluted, so it can change the risks and benefits of owning the stock.
Rule 16b-3 regulatory
"converted to shares of Class A common stock ... in a transaction exempted under Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
FAQ
What insider transaction did Rocket Companies (RKT) report for William D. Banfield?
Rocket Companies reported that Chief Business Officer William D. Banfield had 61,315 shares of Class A common stock withheld on September 7, 2026 to pay tax withholding obligations upon the vesting of restricted stock units.
Does William D. Banfield hold any Rocket (RKT) Class L-2 common stock?
Yes. The filing shows that William D. Banfield directly holds 2,826,979 shares of Rocket Companies’ Class L-2 common stock as a reported holding entry.
Was William D. Banfield’s Rocket (RKT) Form 4 transaction under a Rule 10b5-1 plan?
No. The Form 4 indicates that no Rule 10b5-1 trading plan is reported for William D. Banfield’s September 7, 2026 tax-withholding transaction.
AI-generated analysis. How Rhea-AI works. Not financial advice.
