Form 4: Rocket Executive Boosts Stake Post-Mr. Cooper Merger

Jesse K. Bray, President & CEO of Rocket Mortgage, significantly increased his beneficial ownership in Rocket Companies following the acquisition of Mr. Cooper Group Inc. and a new RSU grant.

Summary

• Rocket Companies, Inc. completed the acquisition of Mr. Cooper Group Inc. on October 1, 2025.
• Jesse K. Bray, a Director and President & CEO of Rocket Mortgage, acquired a substantial number of Rocket Class A common shares as a result of this merger.
• Mr. Cooper common stock and restricted stock units (RSUs) held by Mr. Bray were converted into Rocket Class A common stock and Rocket RSUs at an exchange ratio of 11.0 Rocket shares for each Mr. Cooper share or RSU.
• Mr. Bray directly acquired 2,182,378 Class A common shares from the conversion of Mr. Cooper common stock.
• He also directly acquired 9,685,698 Class A common shares from the conversion of Mr. Cooper RSUs.
• Additionally, Mr. Bray received a new grant of 816,743 Rocket Class A common stock RSUs on October 1, 2025, which will vest in equal installments on the first six semi-annual anniversaries of the grant date.
• An indirect acquisition of 6,965,057 Class A common shares occurred via The Jesse K. Bray Living Trust, also resulting from the Mr. Cooper common stock conversion.
• Following these transactions, Mr. Bray's direct beneficial ownership of Class A common stock is 12,684,819 shares, and his indirect beneficial ownership through the trust is 6,965,057 shares.

Sentiment

Score: 7

Explanation: The filing indicates a significant increase in a key executive's beneficial ownership following a major acquisition and a new RSU grant. This generally signals strong insider confidence in the company's strategic direction and future prospects post-merger, which is a positive indicator for investors.

Positives

• Significant increase in executive beneficial ownership, indicating strong confidence in the company's future post-merger.
• Successful completion of the previously announced acquisition of Mr. Cooper Group Inc., expanding Rocket Companies' market presence.

Future Outlook

The newly granted Rocket Companies RSUs will vest in equal installments on the first six semi-annual anniversaries of October 1, 2025. Converted Mr. Cooper Awards (RSUs) are subject to their original time-based vesting conditions.

Industry Context

This filing reflects a significant consolidation event in the mortgage industry, with Rocket Companies acquiring Mr. Cooper Group Inc. The increase in executive ownership post-merger suggests confidence in the strategic benefits and integration of the acquired entity, potentially positioning Rocket Companies for enhanced market leadership.

Related Party Transactions

• Jesse K. Bray's indirect beneficial ownership of 6,965,057 Class A common shares is held by The Jesse K. Bray Living Trust, of which he is the trustee and he and his immediate family are the sole beneficiaries.

Stakeholder Impact

• Shareholders: Increased alignment between executive management and shareholder interests due to higher insider ownership.
• Employees: The successful completion of the merger and integration of Mr. Cooper Group Inc. could impact employees of both entities, though specific details are not in this filing.

Next Steps

• Continued vesting of the newly granted Rocket Companies RSUs over the next three years.
• Continued vesting of converted Mr. Cooper Awards (RSUs) according to their original schedules.

Key Dates

Keywords

Rocket Companies, RKT, Mr. Cooper Group, Merger, Acquisition, Insider Ownership, Executive Compensation, RSU Grant, Beneficial Ownership