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[SCHEDULE 13D] Rocket Companies, Inc. SEC Filing

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Form Type
SCHEDULE 13D
Rhea-AI Filing Summary

Rocket Companies, Inc. (NYSE: RKT) 鈥� Schedule 13D filing dated 07/08/2025

The filing discloses the share ownership positions of Daniel Gilbert (Chairman), the Daniel Gilbert Trust #1, and Jennifer Gilbert (director) following the 30 June 2025 collapse of the company鈥檚 鈥淯p-C鈥� structure. The transaction exchanged Rock Holdings Inc. (RHI) shares and Class D common stock for newly created Class L-1 and Class L-2 common stock.

  • Daniel Gilbert beneficially owns 1,608,089,722 shares (76.45 % of the Class A equivalent) comprising 996.8 M sole-vote shares and 611.3 M shared-vote shares. His stake includes direct holdings, trust holdings, shares subject to an irrevocable proxy from Jennifer Gilbert, and shares controlled under voting agreements with senior executives.
  • Daniel Gilbert Trust #1 owns 140,215,280 shares (6.67 %).
  • Jennifer Gilbert owns 314,055,385 shares (14.93 %), all subject to Daniel Gilbert鈥檚 voting control via an irrevocable proxy.

Capital-structure implications

  • The new classes come with transfer restrictions: Class L-1 locked until 30 Jun 2026, Class L-2 until 30 Jun 2027.
  • Each Class L share converts 1-for-1 into Class A common stock after the lock-up or immediately prior to transfer, introducing a potential 1.85 B incremental Class A shares鈥�> an 鈮�12脳 increase versus the 151.3 M Class A shares outstanding as of 2 May 2025.
  • Automatic conversion of all Class L shares will occur on the later of 30 Jun 2027 or when Class L voting power falls below 79 %.

Governance & agreements

  • Daniel Gilbert retains majority voting control and can unilaterally approve or block shareholder actions.
  • Key contracts remain in force: Registration Rights Agreement (Aug 2020), a new Letter Agreement preserving information rights, irrevocable proxy from Jennifer Gilbert, and Voting Agreements with 12 senior insiders aligning their votes with Gilbert.

Investor takeaway: The Up-C collapse simplifies the tax and ownership structure but keeps founder control intact and sets up a material future float expansion once Class L shares convert. Minority investors face significant potential dilution and continuing governance concentration.

Rocket Companies, Inc. (NYSE: RKT) 鈥� Comunicazione Schedule 13D del 08/07/2025

La comunicazione rivela le posizioni azionarie di Daniel Gilbert (Presidente), il Daniel Gilbert Trust #1 e Jennifer Gilbert (direttrice) a seguito del collasso della struttura 鈥淯p-C鈥� della societ脿 avvenuto il 30 giugno 2025. L鈥檕perazione ha scambiato azioni di Rock Holdings Inc. (RHI) e azioni ordinarie di Classe D con azioni ordinarie di nuova creazione Classe L-1 e Classe L-2.

  • Daniel Gilbert detiene beneficiariamente 1.608.089.722 azioni (76,45% dell鈥檈quivalente Classe A), comprendenti 996,8 milioni di azioni con diritto di voto esclusivo e 611,3 milioni con diritto di voto condiviso. La sua partecipazione include azioni detenute direttamente, tramite trust, azioni soggette a delega irrevocabile da parte di Jennifer Gilbert e azioni controllate tramite accordi di voto con dirigenti senior.
  • Daniel Gilbert Trust #1 possiede 140.215.280 azioni (6,67%).
  • Jennifer Gilbert detiene 314.055.385 azioni (14,93%), tutte soggette al controllo di voto di Daniel Gilbert tramite una delega irrevocabile.

Implicazioni sulla struttura del capitale

  • Le nuove classi azionarie sono soggette a restrizioni di trasferimento: Classe L-1 bloccata fino al 30 giugno 2026, Classe L-2 fino al 30 giugno 2027.
  • Ogni azione Classe L si converte 1 a 1 in azioni ordinarie Classe A dopo il periodo di lock-up o immediatamente prima del trasferimento, introducendo un potenziale aumento di 1,85 miliardi di azioni Classe A 鈥�> un incremento di circa 12 volte rispetto alle 151,3 milioni di azioni Classe A in circolazione al 2 maggio 2025.
  • La conversione automatica di tutte le azioni Classe L avverr脿 alla data pi霉 tarda tra il 30 giugno 2027 o quando il potere di voto delle azioni Classe L scender脿 sotto il 79%.

Governance e accordi

  • Daniel Gilbert mantiene il controllo maggioritario sul voto e pu貌 approvare o bloccare unilateralmente le azioni degli azionisti.
  • I contratti chiave restano in vigore: Accordo sui Diritti di Registrazione (agosto 2020), una nuova Lettera d鈥橝ccordo che preserva i diritti informativi, la delega irrevocabile di Jennifer Gilbert e gli Accordi di Voto con 12 dirigenti senior che allineano i loro voti a quelli di Gilbert.

Conclusione per gli investitori: Il collasso della struttura Up-C semplifica la struttura fiscale e proprietaria, mantenendo per貌 intatto il controllo del fondatore e predisponendo un significativo aumento del flottante futuro una volta convertite le azioni Classe L. Gli investitori di minoranza affrontano un rischio rilevante di diluizione e una concentrazione continua della governance.

Rocket Companies, Inc. (NYSE: RKT) 鈥� Presentaci贸n Schedule 13D fechada 08/07/2025

La presentaci贸n revela las posiciones accionarias de Daniel Gilbert (Presidente), el Daniel Gilbert Trust #1 y Jennifer Gilbert (directora) tras el colapso de la estructura 鈥淯p-C鈥� de la empresa el 30 de junio de 2025. La transacci贸n intercambi贸 acciones de Rock Holdings Inc. (RHI) y acciones ordinarias Clase D por acciones ordinarias reci茅n creadas de Clase L-1 y Clase L-2.

  • Daniel Gilbert posee beneficiariamente 1,608,089,722 acciones (76,45 % del equivalente Clase A), que incluyen 996.8 millones de acciones con voto exclusivo y 611.3 millones con voto compartido. Su participaci贸n incluye tenencias directas, fideicomisos, acciones sujetas a un poder irrevocable de Jennifer Gilbert y acciones controladas bajo acuerdos de voto con altos ejecutivos.
  • Daniel Gilbert Trust #1 posee 140,215,280 acciones (6,67 %).
  • Jennifer Gilbert posee 314,055,385 acciones (14,93 %), todas sujetas al control de voto de Daniel Gilbert mediante un poder irrevocable.

Implicaciones en la estructura de capital

  • Las nuevas clases tienen restricciones de transferencia: Clase L-1 bloqueadas hasta el 30 de junio de 2026, Clase L-2 hasta el 30 de junio de 2027.
  • Cada acci贸n Clase L se convierte 1 a 1 en acciones ordinarias Clase A tras el per铆odo de bloqueo o inmediatamente antes de la transferencia, introduciendo un potencial de 1.85 mil millones de acciones Clase A adicionales 鈥�> un aumento aproximado de 12 veces respecto a las 151.3 millones de acciones Clase A en circulaci贸n al 2 de mayo de 2025.
  • La conversi贸n autom谩tica de todas las acciones Clase L ocurrir谩 en la fecha posterior entre el 30 de junio de 2027 o cuando el poder de voto de Clase L caiga por debajo del 79 %.

Gobierno corporativo y acuerdos

  • Daniel Gilbert mantiene el control mayoritario del voto y puede aprobar o bloquear unilateralmente las acciones de los accionistas.
  • Los contratos clave permanecen vigentes: Acuerdo de Derechos de Registro (agosto 2020), una nueva Carta Acuerdo que preserva derechos de informaci贸n, poder irrevocable de Jennifer Gilbert y Acuerdos de Voto con 12 altos ejecutivos que alinean sus votos con Gilbert.

Conclusi贸n para inversores: El colapso de la estructura Up-C simplifica la estructura fiscal y de propiedad, pero mantiene intacto el control del fundador y prepara una expansi贸n significativa del flotante futuro una vez que las acciones Clase L se conviertan. Los inversores minoritarios enfrentan una diluci贸n potencial significativa y una continua concentraci贸n del gobierno corporativo.

Rocket Companies, Inc. (NYSE: RKT) 鈥� 2025雲� 7鞗� 8鞚检瀽 Schedule 13D 鞝滌稖

鞚措矆 鞝滌稖鞚� Daniel Gilbert(須岇灔), Daniel Gilbert Trust #1, 攴鸽Μ瓿� Jennifer Gilbert(鞚挫偓)鞚� 歆�攵� 氤挫湢 順勴櫓鞚� 2025雲� 6鞗� 30鞚� 須岇偓鞚� 鈥淯p-C鈥� 甑“ 攵曣创 鞚错泟 瓿店皽頃╇媹雼�. 鞚� 瓯半灅電� Rock Holdings Inc.(RHI) 欤检嫕瓿� Class D 氤错喌欤茧ゼ 靸堧 靸濎劚霅� Class L-1 氚� Class L-2 氤错喌欤茧 甑愴櫂頃橂姅 雮挫毄鞛呺媹雼�.

  • Daniel Gilbert鞚� 齑� 1,608,089,722欤�(Class A 頇橃偘 旮办 76.45%)毳� 鞁れ 靻岇湢頃橁碃 鞛堨溂氅�, 鞚� 欷� 9鞏� 9,680毵� 欤茧姅 雼弲 鞚橁舶甓� 欤检嫕, 6鞏� 1,130毵� 欤茧姅 瓿惦彊 鞚橁舶甓� 欤检嫕鞛呺媹雼�. 攴胳潣 歆�攵勳潃 歆侅爲 氤挫湢 欤检嫕, 鞁犿儊 氤挫湢 欤检嫕, Jennifer Gilbert搿滊秬韯� 氚涭潃 旆唽 攵堦皜電ロ暅 鞙勳瀯鞛レ棎 霐半ジ 欤检嫕, 攴鸽Μ瓿� 瓿犾渼 瓴届榿歆勱臣鞚� 鞚橁舶甓� 瓿勳暯鞐� 霐半ジ 欤检嫕鞚� 韽暔頃╇媹雼�.
  • Daniel Gilbert Trust #1鞚� 140,215,280欤�(6.67%)毳� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
  • Jennifer Gilbert鞚� 314,055,385欤�(14.93%)毳� 氤挫湢頃橁碃 鞛堨溂氅�, 氇憪 Daniel Gilbert鞚� 旆唽 攵堦皜電ロ暅 鞙勳瀯鞛レ棎 霐半ジ 鞚橁舶甓� 韱奠牅毳� 氚涭姷雼堧嫟.

鞛愲掣 甑“ 鞓來枼

  • 靸堧鞖� 欤检嫕 韥措灅鞀る姅 鞏戨弰 鞝滍暅鞚� 鞛堨姷雼堧嫟: Class L-1鞚� 2026雲� 6鞗� 30鞚缄箤歆�, Class L-2電� 2027雲� 6鞗� 30鞚缄箤歆� 鞛犼笀 靸來儨鞛呺媹雼�.
  • 臧� Class L 欤检嫕鞚� 鞛犼笀 頃挫牅 頉� 霕愲姅 鞏戨弰 歆侅爠鞐� 1雽�1搿� Class A 氤错喌欤茧 鞝勴櫂霅橂┌, 鞚措姅 18鞏� 5觳滊 欤检潣 於旉皜 Class A 欤检嫕鞚� 靸濎劚頃� 靾� 鞛堨柎, 2025雲� 5鞗� 2鞚� 旮办 1鞏� 5,130毵� 欤检潣 Class A 欤检嫕 雽�牍� 鞎� 12氚� 歃濌皜毳� 鞚橂頃╇媹雼�.
  • 氇摖 Class L 欤检嫕鞚� 鞛愲彊 鞝勴櫂鞚� 2027雲� 6鞗� 30鞚� 鞚错泟 霕愲姅 Class L 鞚橁舶甓岇澊 79% 氙鸽鞙茧 霒柎歆� 霑� 欷� 電潃 鞁滌爯鞐� 氚滌儩頃╇媹雼�.

歆�氚瓣惮臁� 氚� 瓿勳暯

  • Daniel Gilbert鞚� 雼れ垬 鞚橁舶甓岇潉 鞙犾頃橂┌ 欤检＜ 頄夒彊鞚� 雼弲鞙茧 鞀轨澑頃橁卑雮� 彀嫧頃� 靾� 鞛堨姷雼堧嫟.
  • 欤检殧 瓿勳暯霌れ潃 鞙犿毃頃╇媹雼�: 霌彪 甓岆Μ 瓿勳暯(2020雲� 8鞗�), 鞝曤炒 甓岆Μ毳� 氤挫〈頃橂姅 靸堧鞖� 靹滍暅 瓿勳暯, Jennifer Gilbert鞚� 旆唽 攵堦皜電ロ暅 鞙勳瀯鞛�, 攴鸽Μ瓿� 12氇呾潣 瓿犾渼 鞛勳洂瓿� 觳搓舶頃� 鞚橁舶甓� 瓿勳暯鞙茧 鞚措摛鞚� Gilbert鞕� 韴憸毳� 鞚检箻鞁滍偟雼堧嫟.

韴瀽鞛� 鞖旍爯: Up-C 甑“ 攵曣创電� 靹戈笀 氚� 靻岇湢 甑“毳� 雼垳頇旐晿歆�毵� 彀届梾鞛愳潣 韱奠牅甓岇潃 鞙犾霅橂┌, Class L 欤检嫕 鞝勴櫂 頉� 靸侂嫻頃� 氙鸽灅 鞙犿喌 欤检嫕 頇曤寑臧� 鞓堨儊霅╇媹雼�. 靻岇垬 韴瀽鞛愲姅 靸侂嫻頃� 頋劃 鞙勴棙瓿� 歆�靻嶌爜鞚� 歆�氚瓣惮臁� 歆戩鞐� 歆侂┐頃╇媹雼�.

Rocket Companies, Inc. (NYSE : RKT) 鈥� D茅p么t Schedule 13D dat茅 du 08/07/2025

Le d茅p么t r茅v猫le les positions de d茅tention d鈥檃ctions de Daniel Gilbert (Pr茅sident), du Daniel Gilbert Trust #1 et de Jennifer Gilbert (administratrice) suite 脿 l鈥檈ffondrement de la structure 芦 Up-C 禄 de la soci茅t茅 le 30 juin 2025. La transaction a 茅chang茅 des actions de Rock Holdings Inc. (RHI) et des actions ordinaires de classe D contre des actions ordinaires nouvellement cr茅茅es de classe L-1 et classe L-2.

  • Daniel Gilbert d茅tient b茅n茅ficiairement 1 608 089 722 actions (76,45 % de l鈥櫭﹒uivalent Classe A), comprenant 996,8 millions d鈥檃ctions 脿 droit de vote exclusif et 611,3 millions d鈥檃ctions 脿 droit de vote partag茅. Sa participation inclut des d茅tentions directes, des parts en trust, des actions soumises 脿 une procuration irr茅vocable de Jennifer Gilbert, ainsi que des actions contr么l茅es via des accords de vote avec des cadres sup茅rieurs.
  • Daniel Gilbert Trust #1 d茅tient 140 215 280 actions (6,67 %).
  • Jennifer Gilbert poss猫de 314 055 385 actions (14,93 %), toutes soumises au contr么le de vote de Daniel Gilbert via une procuration irr茅vocable.

Implications sur la structure du capital

  • Les nouvelles cat茅gories d鈥檃ctions sont soumises 脿 des restrictions de transfert : Classe L-1 bloqu茅e jusqu鈥檃u 30 juin 2026, Classe L-2 jusqu鈥檃u 30 juin 2027.
  • Chaque action de classe L se convertit en actions ordinaires de classe A 脿 raison de 1 pour 1 apr猫s la p茅riode de blocage ou imm茅diatement avant le transfert, introduisant un potentiel de 1,85 milliard d鈥檃ctions suppl茅mentaires de classe A 鈥�> une augmentation d鈥檈nviron 12 fois par rapport aux 151,3 millions d鈥檃ctions de classe A en circulation au 2 mai 2025.
  • La conversion automatique de toutes les actions de classe L aura lieu 脿 la date la plus tardive entre le 30 juin 2027 ou lorsque le pouvoir de vote des actions de classe L tombera en dessous de 79 %.

Gouvernance et accords

  • Daniel Gilbert conserve le contr么le majoritaire des droits de vote et peut approuver ou bloquer unilat茅ralement les actions des actionnaires.
  • Les contrats cl茅s restent en vigueur : Accord sur les droits d鈥檈nregistrement (ao没t 2020), une nouvelle lettre d鈥檃ccord pr茅servant les droits d鈥檌nformation, une procuration irr茅vocable de Jennifer Gilbert, et des accords de vote avec 12 cadres sup茅rieurs alignant leurs votes avec ceux de Gilbert.

Conclusion pour les investisseurs : L鈥檈ffondrement de la structure Up-C simplifie la structure fiscale et de propri茅t茅 tout en maintenant le contr么le du fondateur intact et pr茅pare une expansion significative du flottant futur une fois les actions de classe L converties. Les investisseurs minoritaires font face 脿 un risque important de dilution potentielle et 脿 une concentration continue de la gouvernance.

Rocket Companies, Inc. (NYSE: RKT) 鈥� Schedule 13D Einreichung vom 08.07.2025

Die Einreichung offenbart die Aktienbesitzpositionen von Daniel Gilbert (Vorsitzender), dem Daniel Gilbert Trust #1 und Jennifer Gilbert (Direktorin) nach dem Zusammenbruch der 鈥濽p-C鈥�-Struktur des Unternehmens am 30. Juni 2025. Die Transaktion tauschte Rock Holdings Inc. (RHI) Aktien und Stammaktien der Klasse D gegen neu geschaffene Stammaktien der Klasse L-1 und Klasse L-2.

  • Daniel Gilbert besitzt wirtschaftlich 1.608.089.722 Aktien (76,45 % des Klasse-A-脛quivalents), bestehend aus 996,8 Mio. stimmberechtigten Einzelaktien und 611,3 Mio. stimmberechtigten Gemeinschaftsaktien. Sein Anteil umfasst Direktbeteiligungen, Trust-Anteile, Aktien, die einer unwiderruflichen Vollmacht von Jennifer Gilbert unterliegen, sowie Aktien, die unter Stimmrechtsvereinbarungen mit leitenden F眉hrungskr盲ften kontrolliert werden.
  • Daniel Gilbert Trust #1 h盲lt 140.215.280 Aktien (6,67 %).
  • Jennifer Gilbert besitzt 314.055.385 Aktien (14,93 %), alle unterliegen der Stimmrechtskontrolle von Daniel Gilbert durch eine unwiderrufliche Vollmacht.

Auswirkungen auf die Kapitalstruktur

  • Die neuen Aktienklassen unterliegen 脺bertragungsbeschr盲nkungen: Klasse L-1 gesperrt bis 30. Juni 2026, Klasse L-2 bis 30. Juni 2027.
  • Jede Klasse-L-Aktie wandelt sich 1:1 in Stammaktien der Klasse A nach Ablauf der Sperrfrist oder unmittelbar vor der 脺bertragung um, was potenziell 1,85 Mrd. zus盲tzliche Klasse-A-Aktien bedeutet 鈥�> etwa eine 12-fache Steigerung gegen眉ber den 151,3 Mio. Klasse-A-Aktien, die am 2. Mai 2025 ausstanden.
  • Die automatische Umwandlung aller Klasse-L-Aktien erfolgt am sp盲teren der beiden Termine: 30. Juni 2027 oder wenn die Stimmrechte der Klasse L unter 79 % fallen.

Governance & Vereinbarungen

  • Daniel Gilbert beh盲lt die Mehrheitskontrolle 眉ber die Stimmrechte und kann Aktion盲rsma脽nahmen einseitig genehmigen oder blockieren.
  • Wichtige Vertr盲ge bleiben in Kraft: Registrierungsrechtsvereinbarung (August 2020), ein neues Schreiben zur Wahrung der Informationsrechte, unwiderrufliche Vollmacht von Jennifer Gilbert und Stimmrechtsvereinbarungen mit 12 leitenden Insidern, die ihre Stimmen mit Gilbert abstimmen.

Fazit f眉r Investoren: Der Zusammenbruch der Up-C-Struktur vereinfacht die Steuer- und Eigent眉merstruktur, beh盲lt jedoch die Gr眉nderkontrolle bei und bereitet eine erhebliche zuk眉nftige Streuung vor, sobald die Klasse-L-Aktien umgewandelt werden. Minderheitsinvestoren sehen sich erheblichen potenziellen Verw盲sserungen und anhaltender Governance-Konzentration gegen眉ber.

Positive
  • Up-C structure collapse streamlines legal entity configuration, potentially reducing administrative and tax-related costs.
  • Lock-up periods (2026/2027) delay share conversion, limiting immediate dilution and supply overhang.
Negative
  • Potential issuance of 1.85 B new Class A shares represents ~1,200 % dilution to current float.
  • Daniel Gilbert retains 76 % voting control, sustaining concentrated governance and limiting minority shareholder influence.

Insights

TL;DR: Founder retains 76% control; 1.85 B convertible shares signal major future dilution risk.

The filing is impactful because it quantifies Daniel Gilbert鈥檚 post-restructure ownership and clarifies lock-ups and conversion mechanics for the new Class L stock. While the Up-C collapse reduces structural complexity and may lower administrative costs, the prospect of a twelve-fold share-count increase once 1.85 B Class L shares convert could weigh on long-term valuation metrics (EPS, free float). Governance remains tightly held, limiting activist influence and raising minority-protection concerns. Near-term market impact should be limited by the 2026/2027 lock-ups, but investors need to model substantial dilution in outer years.

TL;DR: Control is entrenched through multi-class shares, proxies and voting pacts鈥攎inority voice stays weak.

Daniel Gilbert鈥檚 majority voting power is preserved via direct holdings, trust interests, an irrevocable proxy over Jennifer Gilbert鈥檚 stake and voting agreements with key executives. The staggered lock-up on Class L shares delays, but does not remove, a large conversion overhang. Combined with the unchanged Registration Rights Agreement, Gilbert can time liquidity events while maintaining control. This entrenchment may limit governance reforms and raises ISS/Glass Lewis red flags, though it provides strategic stability. Overall, the disclosure is material yet expected given prior dual-class history.

Rocket Companies, Inc. (NYSE: RKT) 鈥� Comunicazione Schedule 13D del 08/07/2025

La comunicazione rivela le posizioni azionarie di Daniel Gilbert (Presidente), il Daniel Gilbert Trust #1 e Jennifer Gilbert (direttrice) a seguito del collasso della struttura 鈥淯p-C鈥� della societ脿 avvenuto il 30 giugno 2025. L鈥檕perazione ha scambiato azioni di Rock Holdings Inc. (RHI) e azioni ordinarie di Classe D con azioni ordinarie di nuova creazione Classe L-1 e Classe L-2.

  • Daniel Gilbert detiene beneficiariamente 1.608.089.722 azioni (76,45% dell鈥檈quivalente Classe A), comprendenti 996,8 milioni di azioni con diritto di voto esclusivo e 611,3 milioni con diritto di voto condiviso. La sua partecipazione include azioni detenute direttamente, tramite trust, azioni soggette a delega irrevocabile da parte di Jennifer Gilbert e azioni controllate tramite accordi di voto con dirigenti senior.
  • Daniel Gilbert Trust #1 possiede 140.215.280 azioni (6,67%).
  • Jennifer Gilbert detiene 314.055.385 azioni (14,93%), tutte soggette al controllo di voto di Daniel Gilbert tramite una delega irrevocabile.

Implicazioni sulla struttura del capitale

  • Le nuove classi azionarie sono soggette a restrizioni di trasferimento: Classe L-1 bloccata fino al 30 giugno 2026, Classe L-2 fino al 30 giugno 2027.
  • Ogni azione Classe L si converte 1 a 1 in azioni ordinarie Classe A dopo il periodo di lock-up o immediatamente prima del trasferimento, introducendo un potenziale aumento di 1,85 miliardi di azioni Classe A 鈥�> un incremento di circa 12 volte rispetto alle 151,3 milioni di azioni Classe A in circolazione al 2 maggio 2025.
  • La conversione automatica di tutte le azioni Classe L avverr脿 alla data pi霉 tarda tra il 30 giugno 2027 o quando il potere di voto delle azioni Classe L scender脿 sotto il 79%.

Governance e accordi

  • Daniel Gilbert mantiene il controllo maggioritario sul voto e pu貌 approvare o bloccare unilateralmente le azioni degli azionisti.
  • I contratti chiave restano in vigore: Accordo sui Diritti di Registrazione (agosto 2020), una nuova Lettera d鈥橝ccordo che preserva i diritti informativi, la delega irrevocabile di Jennifer Gilbert e gli Accordi di Voto con 12 dirigenti senior che allineano i loro voti a quelli di Gilbert.

Conclusione per gli investitori: Il collasso della struttura Up-C semplifica la struttura fiscale e proprietaria, mantenendo per貌 intatto il controllo del fondatore e predisponendo un significativo aumento del flottante futuro una volta convertite le azioni Classe L. Gli investitori di minoranza affrontano un rischio rilevante di diluizione e una concentrazione continua della governance.

Rocket Companies, Inc. (NYSE: RKT) 鈥� Presentaci贸n Schedule 13D fechada 08/07/2025

La presentaci贸n revela las posiciones accionarias de Daniel Gilbert (Presidente), el Daniel Gilbert Trust #1 y Jennifer Gilbert (directora) tras el colapso de la estructura 鈥淯p-C鈥� de la empresa el 30 de junio de 2025. La transacci贸n intercambi贸 acciones de Rock Holdings Inc. (RHI) y acciones ordinarias Clase D por acciones ordinarias reci茅n creadas de Clase L-1 y Clase L-2.

  • Daniel Gilbert posee beneficiariamente 1,608,089,722 acciones (76,45 % del equivalente Clase A), que incluyen 996.8 millones de acciones con voto exclusivo y 611.3 millones con voto compartido. Su participaci贸n incluye tenencias directas, fideicomisos, acciones sujetas a un poder irrevocable de Jennifer Gilbert y acciones controladas bajo acuerdos de voto con altos ejecutivos.
  • Daniel Gilbert Trust #1 posee 140,215,280 acciones (6,67 %).
  • Jennifer Gilbert posee 314,055,385 acciones (14,93 %), todas sujetas al control de voto de Daniel Gilbert mediante un poder irrevocable.

Implicaciones en la estructura de capital

  • Las nuevas clases tienen restricciones de transferencia: Clase L-1 bloqueadas hasta el 30 de junio de 2026, Clase L-2 hasta el 30 de junio de 2027.
  • Cada acci贸n Clase L se convierte 1 a 1 en acciones ordinarias Clase A tras el per铆odo de bloqueo o inmediatamente antes de la transferencia, introduciendo un potencial de 1.85 mil millones de acciones Clase A adicionales 鈥�> un aumento aproximado de 12 veces respecto a las 151.3 millones de acciones Clase A en circulaci贸n al 2 de mayo de 2025.
  • La conversi贸n autom谩tica de todas las acciones Clase L ocurrir谩 en la fecha posterior entre el 30 de junio de 2027 o cuando el poder de voto de Clase L caiga por debajo del 79 %.

Gobierno corporativo y acuerdos

  • Daniel Gilbert mantiene el control mayoritario del voto y puede aprobar o bloquear unilateralmente las acciones de los accionistas.
  • Los contratos clave permanecen vigentes: Acuerdo de Derechos de Registro (agosto 2020), una nueva Carta Acuerdo que preserva derechos de informaci贸n, poder irrevocable de Jennifer Gilbert y Acuerdos de Voto con 12 altos ejecutivos que alinean sus votos con Gilbert.

Conclusi贸n para inversores: El colapso de la estructura Up-C simplifica la estructura fiscal y de propiedad, pero mantiene intacto el control del fundador y prepara una expansi贸n significativa del flotante futuro una vez que las acciones Clase L se conviertan. Los inversores minoritarios enfrentan una diluci贸n potencial significativa y una continua concentraci贸n del gobierno corporativo.

Rocket Companies, Inc. (NYSE: RKT) 鈥� 2025雲� 7鞗� 8鞚检瀽 Schedule 13D 鞝滌稖

鞚措矆 鞝滌稖鞚� Daniel Gilbert(須岇灔), Daniel Gilbert Trust #1, 攴鸽Μ瓿� Jennifer Gilbert(鞚挫偓)鞚� 歆�攵� 氤挫湢 順勴櫓鞚� 2025雲� 6鞗� 30鞚� 須岇偓鞚� 鈥淯p-C鈥� 甑“ 攵曣创 鞚错泟 瓿店皽頃╇媹雼�. 鞚� 瓯半灅電� Rock Holdings Inc.(RHI) 欤检嫕瓿� Class D 氤错喌欤茧ゼ 靸堧 靸濎劚霅� Class L-1 氚� Class L-2 氤错喌欤茧 甑愴櫂頃橂姅 雮挫毄鞛呺媹雼�.

  • Daniel Gilbert鞚� 齑� 1,608,089,722欤�(Class A 頇橃偘 旮办 76.45%)毳� 鞁れ 靻岇湢頃橁碃 鞛堨溂氅�, 鞚� 欷� 9鞏� 9,680毵� 欤茧姅 雼弲 鞚橁舶甓� 欤检嫕, 6鞏� 1,130毵� 欤茧姅 瓿惦彊 鞚橁舶甓� 欤检嫕鞛呺媹雼�. 攴胳潣 歆�攵勳潃 歆侅爲 氤挫湢 欤检嫕, 鞁犿儊 氤挫湢 欤检嫕, Jennifer Gilbert搿滊秬韯� 氚涭潃 旆唽 攵堦皜電ロ暅 鞙勳瀯鞛レ棎 霐半ジ 欤检嫕, 攴鸽Μ瓿� 瓿犾渼 瓴届榿歆勱臣鞚� 鞚橁舶甓� 瓿勳暯鞐� 霐半ジ 欤检嫕鞚� 韽暔頃╇媹雼�.
  • Daniel Gilbert Trust #1鞚� 140,215,280欤�(6.67%)毳� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
  • Jennifer Gilbert鞚� 314,055,385欤�(14.93%)毳� 氤挫湢頃橁碃 鞛堨溂氅�, 氇憪 Daniel Gilbert鞚� 旆唽 攵堦皜電ロ暅 鞙勳瀯鞛レ棎 霐半ジ 鞚橁舶甓� 韱奠牅毳� 氚涭姷雼堧嫟.

鞛愲掣 甑“ 鞓來枼

  • 靸堧鞖� 欤检嫕 韥措灅鞀る姅 鞏戨弰 鞝滍暅鞚� 鞛堨姷雼堧嫟: Class L-1鞚� 2026雲� 6鞗� 30鞚缄箤歆�, Class L-2電� 2027雲� 6鞗� 30鞚缄箤歆� 鞛犼笀 靸來儨鞛呺媹雼�.
  • 臧� Class L 欤检嫕鞚� 鞛犼笀 頃挫牅 頉� 霕愲姅 鞏戨弰 歆侅爠鞐� 1雽�1搿� Class A 氤错喌欤茧 鞝勴櫂霅橂┌, 鞚措姅 18鞏� 5觳滊 欤检潣 於旉皜 Class A 欤检嫕鞚� 靸濎劚頃� 靾� 鞛堨柎, 2025雲� 5鞗� 2鞚� 旮办 1鞏� 5,130毵� 欤检潣 Class A 欤检嫕 雽�牍� 鞎� 12氚� 歃濌皜毳� 鞚橂頃╇媹雼�.
  • 氇摖 Class L 欤检嫕鞚� 鞛愲彊 鞝勴櫂鞚� 2027雲� 6鞗� 30鞚� 鞚错泟 霕愲姅 Class L 鞚橁舶甓岇澊 79% 氙鸽鞙茧 霒柎歆� 霑� 欷� 電潃 鞁滌爯鞐� 氚滌儩頃╇媹雼�.

歆�氚瓣惮臁� 氚� 瓿勳暯

  • Daniel Gilbert鞚� 雼れ垬 鞚橁舶甓岇潉 鞙犾頃橂┌ 欤检＜ 頄夒彊鞚� 雼弲鞙茧 鞀轨澑頃橁卑雮� 彀嫧頃� 靾� 鞛堨姷雼堧嫟.
  • 欤检殧 瓿勳暯霌れ潃 鞙犿毃頃╇媹雼�: 霌彪 甓岆Μ 瓿勳暯(2020雲� 8鞗�), 鞝曤炒 甓岆Μ毳� 氤挫〈頃橂姅 靸堧鞖� 靹滍暅 瓿勳暯, Jennifer Gilbert鞚� 旆唽 攵堦皜電ロ暅 鞙勳瀯鞛�, 攴鸽Μ瓿� 12氇呾潣 瓿犾渼 鞛勳洂瓿� 觳搓舶頃� 鞚橁舶甓� 瓿勳暯鞙茧 鞚措摛鞚� Gilbert鞕� 韴憸毳� 鞚检箻鞁滍偟雼堧嫟.

韴瀽鞛� 鞖旍爯: Up-C 甑“ 攵曣创電� 靹戈笀 氚� 靻岇湢 甑“毳� 雼垳頇旐晿歆�毵� 彀届梾鞛愳潣 韱奠牅甓岇潃 鞙犾霅橂┌, Class L 欤检嫕 鞝勴櫂 頉� 靸侂嫻頃� 氙鸽灅 鞙犿喌 欤检嫕 頇曤寑臧� 鞓堨儊霅╇媹雼�. 靻岇垬 韴瀽鞛愲姅 靸侂嫻頃� 頋劃 鞙勴棙瓿� 歆�靻嶌爜鞚� 歆�氚瓣惮臁� 歆戩鞐� 歆侂┐頃╇媹雼�.

Rocket Companies, Inc. (NYSE : RKT) 鈥� D茅p么t Schedule 13D dat茅 du 08/07/2025

Le d茅p么t r茅v猫le les positions de d茅tention d鈥檃ctions de Daniel Gilbert (Pr茅sident), du Daniel Gilbert Trust #1 et de Jennifer Gilbert (administratrice) suite 脿 l鈥檈ffondrement de la structure 芦 Up-C 禄 de la soci茅t茅 le 30 juin 2025. La transaction a 茅chang茅 des actions de Rock Holdings Inc. (RHI) et des actions ordinaires de classe D contre des actions ordinaires nouvellement cr茅茅es de classe L-1 et classe L-2.

  • Daniel Gilbert d茅tient b茅n茅ficiairement 1 608 089 722 actions (76,45 % de l鈥櫭﹒uivalent Classe A), comprenant 996,8 millions d鈥檃ctions 脿 droit de vote exclusif et 611,3 millions d鈥檃ctions 脿 droit de vote partag茅. Sa participation inclut des d茅tentions directes, des parts en trust, des actions soumises 脿 une procuration irr茅vocable de Jennifer Gilbert, ainsi que des actions contr么l茅es via des accords de vote avec des cadres sup茅rieurs.
  • Daniel Gilbert Trust #1 d茅tient 140 215 280 actions (6,67 %).
  • Jennifer Gilbert poss猫de 314 055 385 actions (14,93 %), toutes soumises au contr么le de vote de Daniel Gilbert via une procuration irr茅vocable.

Implications sur la structure du capital

  • Les nouvelles cat茅gories d鈥檃ctions sont soumises 脿 des restrictions de transfert : Classe L-1 bloqu茅e jusqu鈥檃u 30 juin 2026, Classe L-2 jusqu鈥檃u 30 juin 2027.
  • Chaque action de classe L se convertit en actions ordinaires de classe A 脿 raison de 1 pour 1 apr猫s la p茅riode de blocage ou imm茅diatement avant le transfert, introduisant un potentiel de 1,85 milliard d鈥檃ctions suppl茅mentaires de classe A 鈥�> une augmentation d鈥檈nviron 12 fois par rapport aux 151,3 millions d鈥檃ctions de classe A en circulation au 2 mai 2025.
  • La conversion automatique de toutes les actions de classe L aura lieu 脿 la date la plus tardive entre le 30 juin 2027 ou lorsque le pouvoir de vote des actions de classe L tombera en dessous de 79 %.

Gouvernance et accords

  • Daniel Gilbert conserve le contr么le majoritaire des droits de vote et peut approuver ou bloquer unilat茅ralement les actions des actionnaires.
  • Les contrats cl茅s restent en vigueur : Accord sur les droits d鈥檈nregistrement (ao没t 2020), une nouvelle lettre d鈥檃ccord pr茅servant les droits d鈥檌nformation, une procuration irr茅vocable de Jennifer Gilbert, et des accords de vote avec 12 cadres sup茅rieurs alignant leurs votes avec ceux de Gilbert.

Conclusion pour les investisseurs : L鈥檈ffondrement de la structure Up-C simplifie la structure fiscale et de propri茅t茅 tout en maintenant le contr么le du fondateur intact et pr茅pare une expansion significative du flottant futur une fois les actions de classe L converties. Les investisseurs minoritaires font face 脿 un risque important de dilution potentielle et 脿 une concentration continue de la gouvernance.

Rocket Companies, Inc. (NYSE: RKT) 鈥� Schedule 13D Einreichung vom 08.07.2025

Die Einreichung offenbart die Aktienbesitzpositionen von Daniel Gilbert (Vorsitzender), dem Daniel Gilbert Trust #1 und Jennifer Gilbert (Direktorin) nach dem Zusammenbruch der 鈥濽p-C鈥�-Struktur des Unternehmens am 30. Juni 2025. Die Transaktion tauschte Rock Holdings Inc. (RHI) Aktien und Stammaktien der Klasse D gegen neu geschaffene Stammaktien der Klasse L-1 und Klasse L-2.

  • Daniel Gilbert besitzt wirtschaftlich 1.608.089.722 Aktien (76,45 % des Klasse-A-脛quivalents), bestehend aus 996,8 Mio. stimmberechtigten Einzelaktien und 611,3 Mio. stimmberechtigten Gemeinschaftsaktien. Sein Anteil umfasst Direktbeteiligungen, Trust-Anteile, Aktien, die einer unwiderruflichen Vollmacht von Jennifer Gilbert unterliegen, sowie Aktien, die unter Stimmrechtsvereinbarungen mit leitenden F眉hrungskr盲ften kontrolliert werden.
  • Daniel Gilbert Trust #1 h盲lt 140.215.280 Aktien (6,67 %).
  • Jennifer Gilbert besitzt 314.055.385 Aktien (14,93 %), alle unterliegen der Stimmrechtskontrolle von Daniel Gilbert durch eine unwiderrufliche Vollmacht.

Auswirkungen auf die Kapitalstruktur

  • Die neuen Aktienklassen unterliegen 脺bertragungsbeschr盲nkungen: Klasse L-1 gesperrt bis 30. Juni 2026, Klasse L-2 bis 30. Juni 2027.
  • Jede Klasse-L-Aktie wandelt sich 1:1 in Stammaktien der Klasse A nach Ablauf der Sperrfrist oder unmittelbar vor der 脺bertragung um, was potenziell 1,85 Mrd. zus盲tzliche Klasse-A-Aktien bedeutet 鈥�> etwa eine 12-fache Steigerung gegen眉ber den 151,3 Mio. Klasse-A-Aktien, die am 2. Mai 2025 ausstanden.
  • Die automatische Umwandlung aller Klasse-L-Aktien erfolgt am sp盲teren der beiden Termine: 30. Juni 2027 oder wenn die Stimmrechte der Klasse L unter 79 % fallen.

Governance & Vereinbarungen

  • Daniel Gilbert beh盲lt die Mehrheitskontrolle 眉ber die Stimmrechte und kann Aktion盲rsma脽nahmen einseitig genehmigen oder blockieren.
  • Wichtige Vertr盲ge bleiben in Kraft: Registrierungsrechtsvereinbarung (August 2020), ein neues Schreiben zur Wahrung der Informationsrechte, unwiderrufliche Vollmacht von Jennifer Gilbert und Stimmrechtsvereinbarungen mit 12 leitenden Insidern, die ihre Stimmen mit Gilbert abstimmen.

Fazit f眉r Investoren: Der Zusammenbruch der Up-C-Struktur vereinfacht die Steuer- und Eigent眉merstruktur, beh盲lt jedoch die Gr眉nderkontrolle bei und bereitet eine erhebliche zuk眉nftige Streuung vor, sobald die Klasse-L-Aktien umgewandelt werden. Minderheitsinvestoren sehen sich erheblichen potenziellen Verw盲sserungen und anhaltender Governance-Konzentration gegen眉ber.




If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 搂搂 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




SCHEDULE 13D




Comment for Type of Reporting Person:
(a) 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, dated March 9, 2025, by and among Rocket, Rock Holdings Inc. ("RHI"), Eclipse Sub, Inc., Rocket GP, LLC, Daniel Gilbert and RHI II, LLC (the "Transaction Agreement"). 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, 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, half of which are designated Class L-1 Common Stock and half of which are designated Class L-2 Common Stock. (b) The Reporting Person's aggregate amount of beneficially owned shares consists of (a) 498,416,138 shares of Class L-1 Common Stock and 498,416,138 shares of Class L-2 Common Stock held directly by the Reporting Person, (b) 70,107,640 shares of Class L-1 Common Stock and 70,107,640 shares of Class L-2 Common Stock held by the Daniel Gilbert Trust #1 u/a/d 8/23/16, a revocable trust for the benefit of the Reporting Person, (c) 157,027,692 shares of Class L-1 Common Stock and 157,027,693 shares of Class L-2 Common Stock held by Jennifer Gilbert, over which the Reporting Person exercises voting power pursuant to an Irrevocable Proxy and Power of Attorney described in Item 6 of this Schedule 13D and (d) 78,493,390 shares of Class L-1 Common Stock and 78,493,391 shares of Class L-2 Common Stock held by various persons, over which the Reporting Person exercises voting power pursuant to Voting Agreements described in Item 6 of this Schedule 13D. (c) 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") and (ii) will automatically convert into one share of 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 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. (d) References to percentage ownership of Class A Common Stock in Row 13 are based on (i) 151,272,632 shares of Class A Common Stock outstanding as of May 2, 2025, as reported by the Issuer in its publicly filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, (ii) 1,848,879,455 shares of Class A Common Stock issuable upon conversion of shares of Class L Common Stock and (iii) 103,391,679 shares of Class A Common Stock issued to the stockholders of Redfin Corporation in connection with the acquisition of Redfin Corporation by the Issuer on July 1, 2025, as reported by the Issuer in its publicly filed Current Report on Form 8-K on July 1, 2025.


SCHEDULE 13D




Comment for Type of Reporting Person:
(a) The Reporting Person's aggregate amount of beneficially owned shares consists of 70,107,640 shares of Class L-1 Common Stock and 70,107,640 shares of Class L-2 Common Stock, which the Reporting Person received in connection with Up-C Collapse. (b) 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 Class A Common Stock and (ii) will automatically convert into one share of 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. (c) References to percentage ownership of Class A Common Stock in Row 13 are based on (i) 151,272,632 shares of Class A Common Stock outstanding as of May 2, 2025, as reported by the Issuer in its publicly filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, (ii) 1,848,879,455 shares of Class A Common Stock issuable upon conversion of shares of Class L Common Stock and (iii) 103,391,679 shares of Class A Common Stock issued to the stockholders of Redfin Corporation in connection with the acquisition of Redfin Corporation by the Issuer on July 1, 2025, as reported by the Issuer in its publicly filed Current Report on Form 8-K on July 1, 2025.


SCHEDULE 13D




Comment for Type of Reporting Person:
(a) The Reporting Person's aggregate amount of beneficially owned shares consists of 157,027,693 shares of Class L-1 Common Stock and 157,027,693 shares of Class L-2 Common Stock, which the Reporting Person received in connection with Up-C Collapse. Daniel Gilbert exercises voting power over the shares held by the Reporting Person pursuant to a proxy and irrevocable power of attorney. (b) 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 Class A Common Stock and (ii) will automatically convert into one share of 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 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. (c) References to percentage ownership of Class A Common Stock in Row 13 are based on (i) 151,272,632 shares of Class A Common Stock outstanding as of May 2, 2025, as reported by the Issuer in its publicly filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, (ii) 1,848,879,455 shares of Class A Common Stock issuable upon conversion of shares of Class L Common Stock and (iii) 103,391,679 shares of Class A Common Stock issued to the stockholders of Redfin Corporation in connection with the acquisition of Redfin Corporation by the Issuer on July 1, 2025, as reported by the Issuer in its publicly filed Current Report on Form 8-K on July 1, 2025.


SCHEDULE 13D


Daniel Gilbert
Signature:/s/ Daniel Gilbert
Name/Title:Daniel Gilbert
Date:07/08/2025
Daniel Gilbert Trust #1 u/a/d 8/23/16
Signature:/s/ Daniel Gilbert
Name/Title:Daniel Gilbert
Date:07/08/2025
Jennifer Gilbert
Signature:/s/ Jennifer Gilbert
Name/Title:Jennifer Gilbert
Date:07/08/2025

Source:

FAQ

How many Rocket Companies (RKT) shares does Daniel Gilbert now control?

He beneficially owns 1,608,089,722 shares, equal to 76.45 % of the Class A equivalent after full conversion.

When can Class L-1 and Class L-2 shares convert to Class A stock?

Class L-1: after 30 Jun 2026; Class L-2: after 30 Jun 2027 or automatically on transfer, subject to the certificate of incorporation.

What is the dilution risk for existing Rocket Companies shareholders?

Up to 1.85 B Class A shares may be issued upon conversion of Class L stock, enlarging the share count by roughly twelve times the current 151 M Class A shares.

Does Daniel Gilbert retain control after the Up-C collapse?

Yes. With >76 % of voting power and voting agreements with insiders, he can approve or reject any shareholder action.

Are there any registration rights associated with the new shares?

Yes. The Registration Rights Agreement (Aug 5 2020) remains effective, allowing insiders to demand registration of their Class A shares.

What is the significance of the irrevocable proxy from Jennifer Gilbert?

It grants Daniel Gilbert sole voting power over Jennifer Gilbert鈥檚 314 M shares, further consolidating his control.
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Rocket Companies Inc

NYSE:RKT

RKT Rankings

#581 Ranked by Market Cap
N/A Ranked by Dividends

RKT Latest News

Jul 10, 2025
Redfin Reports Pending Sales Fall as U.S. Home Prices Hit Another Record High
Jul 9, 2025
U.S. Asking Rents Have Declined for 4 Months in a Row, But Are Still Only $63 Below Their Record High
Jul 1, 2025
Rocket Companies Completes Acquisition of Redfin
Jun 24, 2025
Rocket Mortgage Puts Purchasing Power in the Hands of Clients with Bridge Loans - Enabling Homeowners to Buy Now, Sell Later
Jun 5, 2025
Rocket Companies Announces Pricing of Senior Notes due 2030 and Senior Notes due 2033

RKT Latest SEC Filings

Jul 8, 2025
[SCHEDULE 13G/A] Rocket Companies, Inc. SEC Filing
Jul 7, 2025
[SCHEDULE 13G/A] Rocket Companies, Inc. SEC Filing
Jul 3, 2025
[SCHEDULE 13D/A] Rocket Companies, Inc. SEC Filing
Jul 2, 2025
[S-4/A] Rocket Companies, Inc. Amended Business Combination Registration
Jul 2, 2025
[Form 4] Rocket Companies, Inc. Insider Trading Activity

RKT Stock Data

3.71B
147.35M
7.35%
75.17%
14.55%
Mortgage Finance
Mortgage Bankers & Loan Correspondents
United States
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