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[Form 4] Rocket Companies, Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Badger Meter, Inc. (BMI) â€� Form 4 filing: Director Todd A. Adams reported the automatic issuance of 65.32 phantom stock units on 07/01/2025. These units, equal in value to common shares, were credited to his Director Deferred Compensation Plan as payment of the Q3-2025 cash retainer of $16,000, valued at the 06/30/2025 closing price of $244.95 per share. Following the transaction, Adams now holds 15,694.767 phantom units, recorded as direct ownership. Phantom stock is settled in cash once the director leaves the board, so no immediate share issuance or market purchase occurs. The filing reflects routine board compensation rather than an open-market insider buy or sell and is unlikely to materially affect BMI’s share float or signaling dynamics.

Badger Meter, Inc. (BMI) � Comunicazione Form 4: Il direttore Todd A. Adams ha segnalato l'emissione automatica di 65,32 unità di azioni fantasma il 01/07/2025. Queste unità, di valore equivalente alle azioni ordinarie, sono state accreditate al suo Piano di Compensazione Differita per Direttori come pagamento del compenso trimestrale in contanti Q3-2025 di 16.000 $, valutato al prezzo di chiusura del 30/06/2025 di 244,95 $ per azione. A seguito della transazione, Adams detiene ora 15.694,767 unità fantasma, registrate come proprietà diretta. Le azioni fantasma vengono liquidate in contanti al termine del mandato del direttore, quindi non vi è alcuna emissione immediata di azioni o acquisto sul mercato. Questa comunicazione riflette una normale compensazione del consiglio e non rappresenta un acquisto o vendita interna sul mercato aperto, pertanto è improbabile che influenzi in modo significativo il flottante o la dinamica di segnalazione delle azioni BMI.

Badger Meter, Inc. (BMI) � Presentación del Formulario 4: El director Todd A. Adams informó la emisión automática de 65,32 unidades de acciones fantasma el 01/07/2025. Estas unidades, equivalentes en valor a acciones ordinarias, fueron acreditadas en su Plan de Compensación Diferida para Directores como pago de la retención en efectivo del tercer trimestre de 2025 de 16,000 $, valoradas al precio de cierre del 30/06/2025 de 244,95 $ por acción. Tras la transacción, Adams posee ahora 15,694.767 unidades fantasma, registradas como propiedad directa. Las acciones fantasma se liquidan en efectivo cuando el director deja la junta, por lo que no hay emisión inmediata de acciones ni compra en el mercado. La presentación refleja una compensación rutinaria del consejo y no una compra o venta interna en el mercado abierto, por lo que es poco probable que afecte materialmente el flotante o la dinámica de señales de BMI.

ë°°ì € 미터(Badger Meter, Inc., BMI) â€� Form 4 제출: ì´ì‚¬ Todd A. Adamsê°€ 2025ë…� 7ì›� 1ì¼ì— 65.32ê°œì˜ íŒ¬í…€ 스톡 유닛ì� ìžë™ìœ¼ë¡œ 발행ë˜ì—ˆìŒì„ 보고했습니다. ì� ìœ ë‹›ë“¤ì€ ë³´í†µì£¼ì™€ ë™ì¼í•� 가치로, 2025ë…� 3분기 현금 보수ì� $16,000ì� 지급으로서 ê·¸ì˜ ì´ì‚¬ ì´ì—° ë³´ìƒ ê³„íšì—� ì ë¦½ë˜ì—ˆìœ¼ë©°, 2025ë…� 6ì›� 30ì� 종가ì� 주당 $244.95ë¡� í‰ê°€ë˜ì—ˆìŠµë‹ˆë‹�. 거래 í›� AdamsëŠ� 현재 15,694.767 팬텀 유닛ì� ì§ì ‘ 보유 중입니다. 팬텀 ìŠ¤í†¡ì€ ì´ì‚¬ê°€ ì´ì‚¬íšŒì—ì„� 물러ë‚� ë•� 현금으로 ì •ì‚°ë˜ë¯€ë¡� 즉ê°ì ì¸ ì£¼ì‹ ë°œí–‰ì´ë‚˜ 시장 매수ëŠ� ë°œìƒí•˜ì§€ 않습니다. ì´ë²ˆ ì œì¶œì€ ì¼ìƒì ì¸ ì´ì‚¬íš� ë³´ìƒ ë‚´ì—­ì� ë°˜ì˜í•� 것으ë¡�, 공개 시장 ë‚� ë‚´ë¶€ìž� 매매가 아니ë©� BMIì� 유통 ì£¼ì‹ ìˆ˜ë‚˜ 신호 전달ì—� í� ì˜í–¥ì� 미칠 ê°€ëŠ¥ì„±ì€ ë‚®ìŠµë‹ˆë‹¤.

Badger Meter, Inc. (BMI) � Déclaration Formulaire 4 : Le directeur Todd A. Adams a déclaré l’émission automatique de 65,32 unités d’actions fantômes le 01/07/2025. Ces unités, équivalentes en valeur aux actions ordinaires, ont été créditées sur son Plan de Rémunération Différée des Administrateurs en paiement de la rémunération trimestrielle en espèces du troisième trimestre 2025 de 16 000 $, évaluée au cours de clôture du 30/06/2025 de 244,95 $ par action. Suite à cette opération, Adams détient désormais 15 694,767 unités fantômes, enregistrées en tant que propriété directe. Les actions fantômes sont réglées en espèces lorsque l’administrateur quitte le conseil, il n’y a donc pas d’émission immédiate d’actions ni d’achat sur le marché. Cette déclaration reflète une rémunération habituelle du conseil d’administration et ne constitue pas un achat ou une vente d’initié sur le marché ouvert, elle est donc peu susceptible d’affecter de manière significative le flottant ou la dynamique de signalisation des actions BMI.

Badger Meter, Inc. (BMI) � Form 4 Einreichung: Direktor Todd A. Adams meldete die automatische Ausgabe von 65,32 Phantomaktieneinheiten am 01.07.2025. Diese Einheiten, die dem Wert von Stammaktien entsprechen, wurden seinem Director Deferred Compensation Plan als Zahlung der Barausgleichszahlung für das dritte Quartal 2025 in Höhe von 16.000 $ gutgeschrieben, bewertet zum Schlusskurs vom 30.06.2025 von 244,95 $ pro Aktie. Nach der Transaktion hält Adams nun 15.694,767 Phantom-Einheiten, die als direkter Besitz verbucht sind. Phantomaktien werden in bar ausgeglichen, sobald der Direktor das Board verlässt, daher erfolgt keine sofortige Aktienausgabe oder Markttransaktion. Die Einreichung spiegelt eine routinemäßige Vergütung des Vorstands wider und stellt keinen Insider-Kauf oder -Verkauf am offenen Markt dar, weshalb sie voraussichtlich keinen wesentlichen Einfluss auf den Streubesitz oder die Signaldynamik von BMI haben wird.

Positive
  • Director’s equity-linked compensation grows, marginally strengthening alignment with shareholders without issuing new shares.
Negative
  • No open-market insider buying; therefore, the filing provides limited insight into management’s view on valuation.

Insights

TL;DR: Routine phantom-stock grant; aligns incentives, negligible market effect.

The transaction represents a standard quarterly retainer conversion to phantom shares under BMI’s non-employee director plan. Because phantom units are settled in cash, there is no dilution or insider trading signal. The incremental 65-unit addition is <1% of Adams� existing 15.7k phantom balance and immaterial relative to BMI’s ~29 million shares outstanding. Governance wise, the grant maintains director–shareholder alignment without cash outlay by the company beyond the normal fee.

TL;DR: Neutral event; no buy/sell signal, nothing to change positioning.

Investors should view this Form 4 as administrative. There is no open-market purchase indicating bullish conviction, nor a sale suggesting caution. The $16k retainer conversion is a predictable board expense. Liquidity, valuation, and operating fundamentals remain the key drivers for BMI; this filing does not impact earnings, cash flow, or capital structure.

Badger Meter, Inc. (BMI) � Comunicazione Form 4: Il direttore Todd A. Adams ha segnalato l'emissione automatica di 65,32 unità di azioni fantasma il 01/07/2025. Queste unità, di valore equivalente alle azioni ordinarie, sono state accreditate al suo Piano di Compensazione Differita per Direttori come pagamento del compenso trimestrale in contanti Q3-2025 di 16.000 $, valutato al prezzo di chiusura del 30/06/2025 di 244,95 $ per azione. A seguito della transazione, Adams detiene ora 15.694,767 unità fantasma, registrate come proprietà diretta. Le azioni fantasma vengono liquidate in contanti al termine del mandato del direttore, quindi non vi è alcuna emissione immediata di azioni o acquisto sul mercato. Questa comunicazione riflette una normale compensazione del consiglio e non rappresenta un acquisto o vendita interna sul mercato aperto, pertanto è improbabile che influenzi in modo significativo il flottante o la dinamica di segnalazione delle azioni BMI.

Badger Meter, Inc. (BMI) � Presentación del Formulario 4: El director Todd A. Adams informó la emisión automática de 65,32 unidades de acciones fantasma el 01/07/2025. Estas unidades, equivalentes en valor a acciones ordinarias, fueron acreditadas en su Plan de Compensación Diferida para Directores como pago de la retención en efectivo del tercer trimestre de 2025 de 16,000 $, valoradas al precio de cierre del 30/06/2025 de 244,95 $ por acción. Tras la transacción, Adams posee ahora 15,694.767 unidades fantasma, registradas como propiedad directa. Las acciones fantasma se liquidan en efectivo cuando el director deja la junta, por lo que no hay emisión inmediata de acciones ni compra en el mercado. La presentación refleja una compensación rutinaria del consejo y no una compra o venta interna en el mercado abierto, por lo que es poco probable que afecte materialmente el flotante o la dinámica de señales de BMI.

ë°°ì € 미터(Badger Meter, Inc., BMI) â€� Form 4 제출: ì´ì‚¬ Todd A. Adamsê°€ 2025ë…� 7ì›� 1ì¼ì— 65.32ê°œì˜ íŒ¬í…€ 스톡 유닛ì� ìžë™ìœ¼ë¡œ 발행ë˜ì—ˆìŒì„ 보고했습니다. ì� ìœ ë‹›ë“¤ì€ ë³´í†µì£¼ì™€ ë™ì¼í•� 가치로, 2025ë…� 3분기 현금 보수ì� $16,000ì� 지급으로서 ê·¸ì˜ ì´ì‚¬ ì´ì—° ë³´ìƒ ê³„íšì—� ì ë¦½ë˜ì—ˆìœ¼ë©°, 2025ë…� 6ì›� 30ì� 종가ì� 주당 $244.95ë¡� í‰ê°€ë˜ì—ˆìŠµë‹ˆë‹�. 거래 í›� AdamsëŠ� 현재 15,694.767 팬텀 유닛ì� ì§ì ‘ 보유 중입니다. 팬텀 ìŠ¤í†¡ì€ ì´ì‚¬ê°€ ì´ì‚¬íšŒì—ì„� 물러ë‚� ë•� 현금으로 ì •ì‚°ë˜ë¯€ë¡� 즉ê°ì ì¸ ì£¼ì‹ ë°œí–‰ì´ë‚˜ 시장 매수ëŠ� ë°œìƒí•˜ì§€ 않습니다. ì´ë²ˆ ì œì¶œì€ ì¼ìƒì ì¸ ì´ì‚¬íš� ë³´ìƒ ë‚´ì—­ì� ë°˜ì˜í•� 것으ë¡�, 공개 시장 ë‚� ë‚´ë¶€ìž� 매매가 아니ë©� BMIì� 유통 ì£¼ì‹ ìˆ˜ë‚˜ 신호 전달ì—� í� ì˜í–¥ì� 미칠 ê°€ëŠ¥ì„±ì€ ë‚®ìŠµë‹ˆë‹¤.

Badger Meter, Inc. (BMI) � Déclaration Formulaire 4 : Le directeur Todd A. Adams a déclaré l’émission automatique de 65,32 unités d’actions fantômes le 01/07/2025. Ces unités, équivalentes en valeur aux actions ordinaires, ont été créditées sur son Plan de Rémunération Différée des Administrateurs en paiement de la rémunération trimestrielle en espèces du troisième trimestre 2025 de 16 000 $, évaluée au cours de clôture du 30/06/2025 de 244,95 $ par action. Suite à cette opération, Adams détient désormais 15 694,767 unités fantômes, enregistrées en tant que propriété directe. Les actions fantômes sont réglées en espèces lorsque l’administrateur quitte le conseil, il n’y a donc pas d’émission immédiate d’actions ni d’achat sur le marché. Cette déclaration reflète une rémunération habituelle du conseil d’administration et ne constitue pas un achat ou une vente d’initié sur le marché ouvert, elle est donc peu susceptible d’affecter de manière significative le flottant ou la dynamique de signalisation des actions BMI.

Badger Meter, Inc. (BMI) � Form 4 Einreichung: Direktor Todd A. Adams meldete die automatische Ausgabe von 65,32 Phantomaktieneinheiten am 01.07.2025. Diese Einheiten, die dem Wert von Stammaktien entsprechen, wurden seinem Director Deferred Compensation Plan als Zahlung der Barausgleichszahlung für das dritte Quartal 2025 in Höhe von 16.000 $ gutgeschrieben, bewertet zum Schlusskurs vom 30.06.2025 von 244,95 $ pro Aktie. Nach der Transaktion hält Adams nun 15.694,767 Phantom-Einheiten, die als direkter Besitz verbucht sind. Phantomaktien werden in bar ausgeglichen, sobald der Direktor das Board verlässt, daher erfolgt keine sofortige Aktienausgabe oder Markttransaktion. Die Einreichung spiegelt eine routinemäßige Vergütung des Vorstands wider und stellt keinen Insider-Kauf oder -Verkauf am offenen Markt dar, weshalb sie voraussichtlich keinen wesentlichen Einfluss auf den Streubesitz oder die Signaldynamik von BMI haben wird.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Gilbert Daniel B

(Last) (First) (Middle)
C/O ROCKET COMPANIES, INC.
1050 WOODWARD AVENUE

(Street)
DETROIT MI 48226

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Rocket Companies, Inc. [ RKT ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class L-1 common stock 06/30/2025 A 498,416,138(1)(2)(3) A $0 498,416,138 D
Class L-2 common stock 06/30/2025 A 498,416,138(1)(2)(3) A $0 498,416,138 D
Class L-1 common stock 06/30/2025 A 70,107,640(1)(2)(3) A $0 70,107,640 I See footnote(4)
Class L-2 common stock 06/30/2025 A 70,107,640(1)(2)(3) A $0 70,107,640 I See footnote(4)
Class D common stock 06/30/2025 D 1,101,822(1)(2)(3) D $0 0 D
Class D common stock 06/30/2025 D 1,846,977,661(1)(2)(3) D $0 0 I See footnote(5)
Class D common stock 06/30/2025 D 800,000(1)(2)(3) D $0 0 I See footnote(6)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-voting common interest units of Rocket LP (7) 06/30/2025 D 1,101,822(1)(2)(3) (7) (7) Class B common stock and Class A common stock 1,101,822 (1)(2)(3) 0 D
Non-voting common interest units of Rocket LP (7) 06/30/2025 D 1,846,977,661(1)(2)(3) (7) (7) Class B common stock and Class A common stock 1,846,977,661 (1)(2)(3) 0 I See footnote(5)
Non-voting common interest units of Rocket LP (7) 06/30/2025 D 800,000(1)(2)(3) (7) (7) Class B common stock and Class A common stock 800,000 (1)(2)(3) 0 I See footnote(6)
Explanation of Responses:
1. On June 30, 2025, Rocket Companies, Inc. ("Rocket") completed the collapse of its "Up-C" structure (the "Up-C Collapse") pursuant to the Transaction Agreement, by and among Rocket, Rock Holdings Inc. ("RHI"), Eclipse Sub, Inc., Rocket GP, LLC, Daniel Gilbert and RHI II, LLC. Pursuant to the Transaction Agreement, each RHI shareholder, in consideration for its voting common shares of RHI, par value $0.001 per share (the "RHI Shares"), received for each RHI Share 56.54 newly issued shares of Rocket Class L common stock, par value $0.00001 per share (the "Class L Common Stock"), half of which are designated Class L-1 Common Stock, par value $0.00001 per share ("Class L-1 Common Stock"), and half of which are designated Class L-2 Common Stock, par value $0.00001 per share ("Class L-2 Common Stock"). Additionally, pursuant to the Transaction Agreement, (Cont'd in FN2)
2. (Cont'd from FN1) Daniel Gilbert contributed and transferred to Rocket his shares of Rocket Class D common stock, par value $0.00001 per share ("Class D common stock") and corresponding non-voting common interest units of Rocket Limited Partnership (as successor in interest to Rocket, LLC) ("Rocket LP") and received shares of Class L Common Stock on a one-to-one basis. Subject to certain limited exceptions as provided in Rocket's certificate of incorporation, (i) holders of Class L-1 Common Stock are prohibited from transferring or otherwise disposing of such shares prior to June 30, 2026, and (ii) holders of Class L-2 Common Stock are prohibited from transferring or otherwise disposing of such shares prior to June 30, 2027. Following June 30, 2026, each share of Class L-1 common stock (i) may be converted at any time, at the option of the holder, into one share of Rocket Class A common stock, par value $0.00001 per share ("Class A Common Stock"), (Cont'd in FN3)
3. (Cont'd from FN2) and (ii) will automatically convert into one share of Rocket Class A Common Stock immediately prior to any transfer of such share, except for certain permitted transfers that are described in Rocket's certificate of incorporation. Following June 30, 2027, each share of Class L-2 Common Stock (i) may be converted at any time, at the option of the holder, into one share of Class A Common Stock and (ii) will automatically convert into one share of Rocket Class A Common Stock immediately prior to any transfer of such share, except for certain permitted transfers that are described in Rocket's certificate of incorporation. In addition, upon the later to occur of (A) June 30, 2027 and (B) the date that the outstanding shares of Class L Common Stock no longer represent at least 79% of the total voting power of the issued and outstanding shares of Rocket common stock, all shares of Class L Common Stock will automatically convert to newly issued shares of Class A Common Stock.
4. Directly owned by Daniel Gilbert Trust #1 u/a/d 8/23/16, a revocable trust for the benefit of the Reporting Person.
5. Directly owned by RHI. Prior to the Up-C Collapse, Dan Gilbert was the majority shareholder of RHI and had voting and dispositive control and beneficial ownership with respect to the shares of Rocket's common stock held of record by RHI. Following the Up-C Collapse, RHI no longer holds any securities of the Issuer.
6. Directly owned by a wholly-owned subsidiary of RHI. Prior to the Up-C Collapse, Dan Gilbert was the majority shareholder of RHI and had voting and dispositive control and beneficial ownership with respect to these shares. Following the Up-C Collapse, this entity no longer holds any securities of the Issuer.
7. Pursuant to the terms of the Exchange Agreement, dated as of August 5, 2020, by and among the Issuer, Rocket LP, RHI, Daniel Gilbert and the holders of Holding Units and shares of Class C common stock or Class D common stock from time to time party thereto (the "Exchange Agreement"), Holdings Units, together with a corresponding number of shares of Class D common stock or Class C common stock, could be exchanged for, at the option of the Issuer, (i) shares of Class B common stock or Class A common stock of the Issuer, as applicable, on a one-for-one basis, or (ii) cash from a substantially concurrent public offering or private sale (based on the price of the Class A common stock in such public offering or private sale), subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. The Exchange Agreement was terminated as part of the Up-C Collapse.
/s/ Daniel B. Gilbert 07/02/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did BMI Director Todd Adams report in the Form 4?

He acquired 65.32 phantom stock units on 07/01/2025 as part of his Q3-2025 board retainer.

What is the value of the phantom stock units acquired?

The units were valued at $244.95 each, totaling approximately $16,000.

How many phantom stock units does Adams own after the transaction?

He now beneficially owns 15,694.767 phantom units.

Do phantom stock units dilute existing BMI shareholders?

No. Phantom units are cash-settled and do not create new common shares.

Does this Form 4 signal a change in BMI’s outlook?

The filing is routine compensation and is unlikely to influence the company’s strategic or financial outlook.
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