Form 4: Director Daniela Jorge Reports COOP Share Disposition Post-Merger

Director Daniela Jorge reported the disposition of 8,198 shares of Mr. Cooper Group Inc. common stock following its merger into Maverick Merger Sub 2, LLC, a subsidiary of Rocket Companies, Inc.

Summary

• Daniela Jorge, a Director, reported the disposition of 8,198 shares of common stock of Maverick Merger Sub 2, LLC (formerly Mr. Cooper Group Inc.).
• The transaction occurred on October 1, 2025, with zero shares beneficially owned following the reported transaction.
• This disposition is a result of the Agreement and Plan of Merger dated March 31, 2025, involving Rocket Companies, Inc., Maverick Merger Sub, Inc., Maverick Merger Sub 2, LLC, and Mr. Cooper Group Inc.
• Under the merger terms, each share of Mr. Cooper common stock was converted into the right to receive 11 shares of Class A common stock of Rocket Companies, Inc., along with cash for fractional shares.
• Mr. Cooper Group Inc. merged into Maverick Merger Sub 2, LLC, with Maverick Merger Sub 2, LLC surviving the merger.

Sentiment

Score: 6

Explanation: The filing reports the completion of a significant merger, which is generally a positive and expected corporate event, providing clarity on the transaction's finalization. The disposition of shares is a procedural outcome of this event.

Positives

• The completion of the merger provides Mr. Cooper Group Inc. shareholders with shares in Rocket Companies, Inc., potentially offering exposure to a larger, more diversified entity.
• The fixed exchange ratio of 11 shares of Rocket Class A common stock per Mr. Cooper share provides clarity and certainty for former Mr. Cooper shareholders.

Negatives

• Mr. Cooper Group Inc. ceased to exist as an independent publicly traded entity, leading to the delisting of its common stock.
• The disposition of shares by the director reflects the cessation of direct ownership in the former entity.

Future Outlook

The filing reports a completed merger transaction and does not provide forward-looking statements or guidance regarding the future performance of the combined entity, Rocket Companies, Inc.

Management Comments

• In connection with the completion of the transactions noted in Footnote 1, issuer merged with and into Maverick Merger Sub 2, LLC, with Maverick Merger Sub 2, LLC surviving the merger.

Industry Context

This filing reflects a significant consolidation event within the financial services and mortgage industry, where Rocket Companies, Inc. acquired Mr. Cooper Group Inc. Such mergers are common strategies for market expansion, synergy realization, and competitive positioning in a dynamic economic environment.

Comparison to Industry Standards

• The acquisition of Mr. Cooper Group Inc. by Rocket Companies, Inc. is consistent with broader M&A trends in the financial services sector, where larger players seek to consolidate market share and achieve economies of scale.
• Similar transactions include the acquisition of Caliber Home Loans by New Residential Investment Corp. (now Rithm Capital Corp.) in 2021, aiming to expand mortgage servicing and origination capabilities.
• The exchange ratio of 11 shares of Rocket Class A common stock for each Mr. Cooper share is a specific valuation outcome of the negotiation, comparable to other stock-for-stock mergers where a premium or strategic value is reflected in the conversion terms.

Stakeholder Impact

• Shareholders (Mr. Cooper): Received 11 shares of Rocket Class A common stock for each Mr. Cooper share, converting their investment into the acquiring entity.
• Shareholders (Rocket Companies): Their company has expanded through acquisition, potentially leading to synergies and increased market presence.
• Employees (Mr. Cooper): Will become employees of the combined entity, subject to integration plans.
• Customers (Mr. Cooper): Will now be served by the combined entity, potentially experiencing changes in service or branding.

Next Steps

• Former Mr. Cooper Group Inc. shareholders will now hold shares in Rocket Companies, Inc.
• Rocket Companies, Inc. will proceed with integrating Mr. Cooper's operations and assets.

Key Dates

Keywords

Maverick Merger Sub 2, COOP, Rocket Companies, RKT, Mr. Cooper Group, Merger, Acquisition, Form 4, Insider Trading, Share Disposition, Corporate Action