8-KLeadership ChangesRegulation FDExhibits & Filings

Rocket Companies, Inc. 8-K Report, Executive Changes (Oct 3, 2022)

Filed October 3, 2022For Securities:RKT

Summary

Rocket Companies, Inc. (RKT) filed an 8-K on October 3, 2022, to announce significant changes in its executive leadership. Effective November 15, 2022, Brian Brown, currently the Chief Accounting Officer, will be appointed as the new Chief Financial Officer and Treasurer, replacing Julie Booth. Ms. Booth will transition to a strategic advisory role. Additionally, Angelo Vitale will step down as General Counsel and Secretary effective October 3, 2022, moving into an 'Of Counsel' position. Tina V. John, the current Deputy General Counsel, will assume the roles of General Counsel and Secretary. These transitions are key for investors to note as leadership changes can signal strategic shifts or internal restructuring. The company has outlined the terms of separation and advisory roles for the departing and transitioning officers, including compensation and equity vesting details. The press release announcing these changes is also filed as an exhibit.

Key Highlights

  • 1Brian Brown appointed Chief Financial Officer and Treasurer, effective November 15, 2022.
  • 2Julie Booth transitions from CFO and Treasurer to a strategic advisory role.
  • 3Angelo Vitale transitions from General Counsel and Secretary to an 'Of Counsel' role, effective October 3, 2022.
  • 4Tina V. John appointed General Counsel and Secretary, effective October 3, 2022.
  • 5Details provided on compensation, equity, and bonuses for transitioning officers.
  • 6Company affirms continued equity vesting and eligibility for benefits for Ms. Booth and Mr. Vitale in their new capacities.
  • 7Press release announcing these executive changes was furnished as an exhibit.

Frequently Asked Questions

Rocket Companies is announcing these changes as part of a planned transition in key leadership roles. Brian Brown is moving into the CFO role, and Tina V. John is stepping into the General Counsel and Secretary roles. Julie Booth and Angelo Vitale are transitioning to advisory and 'Of Counsel' positions, respectively.

Following her transition as CFO and Treasurer on November 15, 2022, Julie Booth will serve in a strategic advisory role. Her annual salary will be $100,000, and she will continue to vest in her outstanding equity awards and be eligible for other company benefits. She will also receive a pro-rated bonus for 2022.

Angelo Vitale is transitioning to an 'Of Counsel' role effective October 3, 2022. His salary will be $100,000, and he will continue to vest in his equity awards and be eligible for benefits. He will also receive a pro-rated bonus for 2022 and separation pay of up to $210,000 within the next 12 months.

The filing states that any changes to Mr. Brown's compensation for his new role as CFO and Treasurer will be determined at a later date.