Form 8-K · Current Report · Filed 2024-12-05
Rocket Lab USA Exchanges Common Stock for Series A Preferred Stock with CEO
On December 3, 2024, Rocket Lab USA, Inc. exchanged 50,951,250 shares of its common stock, owned by its CEO Sir Peter Beck, for an equivalent number of shares of its Series A Convertible Participating Preferred Stock. The transaction is aimed at retaining Sir Peter's leadership and influence within the company, as approved by the board. Sir Peter's new employment agreement, effective from the same date, includes an annual base salary of $800,000, potential performance bonuses, restricted stock units, and other compensation benefits. The exchange is exempt from Securities Act registration requirements.
- Filer
- Rocket Lab USA Inc. RKLB · NASDAQ
- Filed
- Accession
- 0000950170-24-133686
- CIK
- 0001819994
- Signal
- Medium impactIndustrials
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Unregistered Sales of Equity Securities
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Financial Statements and Exhibits
Market reaction
Close before filing
$23.11
Next session
+6.8%
Since filing
+181.0%
Latest close
$64.94
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from RKLB reporting the same item, with the next session's move:
Exhibits (3)
About Rocket Lab USA Inc.
Rocket Lab USA Inc. is an innovative aerospace company specializing in the manufacture and launch of small satellite launch vehicles. The company's primary purpose is to facilitate rapid and reliable access to space, a crucial service as the demand for satellite deployment grows across numerous industries. Through its Electron launch vehicle and recently developed Neutron rocket, Rocket Lab USA Inc. impacts sectors such as telecommunications, earth observation, space research, and national defense. Additionally, Rocket Lab develops and provides small satellite solutions, including satellite components, and services for end-to-end space missions. Founded in 2006 and headquartered in Long Beach, California, the company has established itself as a significant force in the commercialization of space, supporting new space ventures and contributing to technological advancements. By reducing costs and providing frequent launch opportunities, Rocket Lab USA Inc. plays a vital role in furthering the accessibility of space exploration and satellite management.
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