Form 4: Redfin Chief HR Officer Converts Shares to Rocket Companies Stock Following Merger

Redfin's Chief Human Resources Officer, Anna Stevens, reported the conversion of her Redfin common stock and restricted stock units into Rocket Companies Class A Common Stock following the merger effective July 1, 2025.

Summary

• Anna Stevens, Chief Human Resources Officer of Redfin Corp., reported changes in her beneficial ownership due to the merger of Redfin with Neptune Merger Sub, Inc., a wholly-owned subsidiary of Rocket Companies, Inc.
• The merger became effective on July 1, 2025, with Redfin surviving as a wholly-owned subsidiary of Rocket Companies.
• Each outstanding share of Redfin common stock was converted into the right to receive 0.7926 shares of Rocket Companies Class A Common Stock.
• Anna Stevens disposed of 125,262 shares of Redfin Common Stock as a result of this conversion.
• Her unexpired, unsettled, and outstanding Redfin Restricted Stock Units (RSUs), totaling 210,506 units (comprising 24,944, 29,952, 63,281, and 92,329 units), were assumed by Rocket Companies and converted into Assumed RSUs.
• Each Assumed RSU represents the right to receive a number of Rocket Companies Class A Common Stock shares equal to the original RSU share count multiplied by the 0.7926 exchange ratio, rounded down.
• Following these transactions, Anna Stevens beneficially owns 0 shares of Redfin Common Stock and 0 Redfin Restricted Stock Units, as all were converted into Rocket Companies securities.

Sentiment

Score: 5

Explanation: The document is a factual report of a completed insider transaction resulting from a merger, providing no explicit positive or negative sentiment regarding company performance or outlook.

Positives

• The completion of the merger between Redfin Corporation and Rocket Companies, Inc. signifies a strategic consolidation.
• The conversion of Redfin shares and RSUs into Rocket Companies stock provides Redfin shareholders and RSU holders with equity in the acquiring entity.

Future Outlook

The document details the completion of a merger where Redfin Corporation became a wholly-owned subsidiary of Rocket Companies, Inc., indicating a future under the new parent company's structure.

Management Comments

• No direct quotes or paraphrased statements from company management are provided in this filing.

Industry Context

This transaction reflects a consolidation within the real estate technology or financial services sector, where larger entities like Rocket Companies are acquiring specialized platforms such as Redfin to expand their market presence or integrate complementary services.

Comparison to Industry Standards

• Not applicable, as this Form 4 reports a specific insider transaction resulting from a merger, rather than operational or financial performance metrics that would typically be compared to industry benchmarks.

Management Changes

Stakeholder Impact

• Shareholders: Redfin shareholders had their common stock converted into Rocket Companies Class A Common Stock, impacting their equity holdings and future investment in the combined entity.
• Employees: Redfin employees holding Restricted Stock Units (RSUs), such as Anna Stevens, had their RSUs converted into Assumed RSUs of Rocket Companies, maintaining their equity incentives under the new ownership structure.

Next Steps

• The document details a completed transaction, with no explicit future actions or milestones mentioned for the reporting person or the company beyond the merger's effective date.

Key Dates

Keywords

Redfin Corporation, Rocket Companies Inc., Merger Agreement, SEC Form 4, Insider Transaction, Stock Conversion, Restricted Stock Units, Corporate Acquisition, Beneficial Ownership