Form 4: Rocket Companies CFO Brian Brown Reports Tax-Related Share Withholding
SEC Form 4 Filing
Brian Nicholas Brown, CFO & Treasurer of Rocket Companies, Inc., reports the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On March 3, 2025, Brian Nicholas Brown, the Chief Financial Officer & Treasurer of Rocket Companies, Inc., reported a transaction involving Class A common stock.
- The transaction involved the withholding of 39,134 shares at a price of $14.06 per share to satisfy tax withholding obligations related to the vesting of restricted stock units.
- Following the transaction, Brown directly owns 638,084 shares of Class A common stock.
- Brown has granted power of attorney to certain officers of Rocket Companies, Inc. to execute and file Forms 3, 4, and 5 on his behalf.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neutral to slightly positive as it indicates the vesting of previously granted equity.
Industry Context
This is a routine filing related to executive compensation and tax obligations. It is common for companies to withhold shares to cover taxes when restricted stock units vest.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units and subsequent share withholding for taxes, are standard across publicly traded companies.
- Comparable companies like LendingTree, Zillow, and Opendoor also utilize similar equity compensation strategies for their executives.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the withholding of shares already allocated for executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/03/2023 | Date of grant of 86,805 restricted stock units to Brian Brown. |
| 03/03/2025 | Date of transaction: withholding of shares for tax obligations and Power of Attorney execution. |
| 03/05/2025 | Date of signature of the report. |
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