Rocket COO forfeits 61.7K shares for taxes
Rocket Companies’ COO had shares withheld to cover tax obligations from RSU vesting while maintaining a large direct equity stake.
Rhea-AI Filing Summary
Rocket Companies, Inc. (RKT) reported that Chief Operating Officer Heather M. Lovier had 61,669 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 2020 Omnibus Incentive Plan. After this tax-withholding disposition, she directly holds 2,259,115 Class A shares and 1,413,490 Class L-2 common shares.
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Insights
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Insider Trade Summary
Tax Withholding: 61,669 shares
Tax Withholding
2 txns
Insider
Lovier Heather M.
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A common stock F1, F2 | 61,669 | $14.06 | $867K |
| holding | Class L-2 common stock | -- | -- | -- |
Holdings After Transaction:
Class A common stock — 2,259,115 shares (Direct);
Class L-2 common stock — 1,413,490 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 1,413,489 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 obligations: 61,669 shares
Tax-withholding reference price: $14.06 per share
Post-transaction Class A holdings: 2,259,115 shares
+3 more
6 metrics
Shares withheld for tax obligations
61,669 shares
Class A common stock forfeited on September 7, 2026 to pay tax withholding upon RSU vesting
Tax-withholding reference price
$14.06 per share
Reference price used for the 61,669 Class A shares delivered or withheld
Post-transaction Class A holdings
2,259,115 shares
Class A common stock directly held by Heather M. Lovier after the September 7, 2026 transaction
Class L-2 common stock holdings
1,413,490 shares
Direct holdings of Class L-2 common stock reported as of the same date
Previously converted Class L-1 to Class A shares
1,413,489 shares
Portion of Class A holdings originating from conversion of Class L-1 stock under the Restated Certificate of Incorporation
RSU tax-liability transactions reported
1 transaction
Code F event for payment of tax liability by delivering or withholding securities
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
"restricted stock units 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
"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 did RKT’s COO Heather M. Lovier report on this Form 4?
She reported that 61,669 Class A shares were forfeited on September 7, 2026 to pay tax withholding obligations triggered by the vesting of restricted stock units granted under Rocket Companies’ 2020 Omnibus Incentive Plan.
What is Heather M. Lovier’s reported holding of RKT Class L-2 common stock?
She is reported as directly holding 1,413,490 shares of Class L-2 common stock as a separate holding entry, with that amount shown as the total shares following the reported date.
Does the RKT Form 4 indicate trades under a Rule 10b5-1 plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as affirming such a plan, and the footnotes describe the transaction as tax withholding upon RSU vesting, with no pre-arranged trading plan disclosure.
What additional detail is provided about the COO’s Class A holdings in the RKT filing?
A footnote states that her Class A position includes 1,413,489 shares previously reported as Class L-1 common stock, which were converted into Class A under Rocket Companies’ Restated Certificate of Incorporation in a transaction exempted under Rule 16b-3.
AI-generated analysis. How Rhea-AI works. Not financial advice.
