Rocket Lab Corp
For the period ended Jun 12, 2024. Filed Apr 24, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jun 12, 2024 · Filed Apr 24, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant☒
Filed by a Party other than the Registrant☐
Check the appropriate box:
☐ Preliminary Proxy Statement
☐ Confidential, For Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒ Definitive Proxy Statement
☐ Definitive Additional Materials
☐ Soliciting Material Pursuant to Section 240.14a-12.
ROCKET LAB USA, INC.
(Name of Registrant as Specified in its Charter)
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
☒ No fee required.
☐ Fee paid previously with preliminary materials.
☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.
3881 McGowen Street
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD ON JUNE 12, 2024
To Our Stockholders:
You are invited to attend the Annual Meeting of Stockholders (“Annual Meeting”) of Rocket Lab USA, Inc. to be held on Wednesday, June 12, 2024, beginning at 1:30 p.m. Pacific Daylight Time. The Annual Meeting will be a virtual meeting that will be conducted via live webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visitingwww.virtualshareholdermeeting.com/rklb2024 and entering your 16-digit control number included in your Notice of Internet Availability of Proxy Materials, on your proxy card or on the instructions that accompanied your proxy materials.
At the Annual Meeting, you are asked to consider and act upon the following proposals:
(1)
To elect the two Class III director nominees named in the proxy statement to our Board of Directors;
(2)
To ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024;
(3)
To approve, on a non-binding advisory basis, the compensation of our named executive officers disclosed in the accompanying proxy statement; and
(4)
To transact such other business as may properly come before the meeting or any adjournment, continuance or postponement thereof.
Each of the matters to be acted upon at the meeting are more fully described in our proxy statement.
The record date for the Annual Meeting is April 16, 2024. Only stockholders of record at the close of business on that date may vote at the Annual Meeting or any adjournment, continuance or postponement thereof. To facilitate voting, internet and telephone voting are available. The instructions for voting are on the proxy card. If you hold your shares through a bank, broker or other holder of record, please follow the voter instructions you received from the holder of record.
Please carefully review the proxy statement and then complete and sign your proxy and return it promptly. If you attend the virtual meeting and decide to vote during the meeting, you may withdraw your proxy by voting at the meeting.
Your vote is important.
All stockholders will have the ability to access the proxy materials on the website referred to in this Notice or request to receive a printed set of the proxy materials. Instructions on how to access the proxy materials over the internet or to request a printed copy may be found in the Notice. The Notice is being mailed to stockholders commencing on or about April 24, 2024. Please act as soon as possible to vote your shares whether or not you intend on attending the Annual Meeting.
By Order of the Board of Directors
Arjun L. Kampani
Senior Vice President, General Counsel and Secretary
April 24, 2024
Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Stockholders to be held on June 12, 2024 The Notice of Annual Meeting, Proxy Statement and our Annual Report are available electronically at www.proxyvote.com
TABLE OF CONTENTS
| GENERAL INFORMATION | 3 |
|---|---|
| PROPOSAL ONE ELECTION OF DIRECTORS | 7 |
| Vote Required | 7 |
| Recommendation of the Board | 7 |
| THE BOARD OF DIRECTORS AND CORPORATE GOVERNANCE | 8 |
| The Board of Directors | 8 |
| Director Independence | 11 |
| Board and Committee Meetings | 12 |
| Committees | 12 |
| Board Leadership Structure | 16 |
| Board Role in Risk Oversight | 17 |
| Anti-Hedging and Anti-Pledging Policy | 17 |
| Director Orientation and Continuing Education | 18 |
| Code of Business Conduct and Ethics | 18 |
| Report of the Audit Committee | 18 |
| Communications with Directors | 18 |
| Compensation Committee Interlocks and Insider Participation | 19 |
| Board Diversity Matrix | 19 |
| COMPENSATION DISCUSSION AND ANALYSIS | 20 |
| Introduction | 20 |
| Executive Summary | 20 |
| Executive Compensation Philosophy and Objectives | 23 |
| Compensation-Setting Process | 23 |
| Compensation Elements | 27 |
| Employment Agreements | 30 |
| Post-Employment Compensation | 31 |
| Other Compensation Policies | 32 |
| Tax and Accounting Considerations | 32 |
| Compensation Committee Report | 33 |
| EXECUTIVE COMPENSATION | 34 |
| 2023 Summary Compensation Table | 34 |
| Grants of Plan-Based Awards Table for Fiscal Year 2023 | 34 |
| Outstanding Equity Awards at 2023 Fiscal Year End Table | 34 |
| Option Exercises and Stock Vested in Fiscal Year 2023 Table | 35 |
| Potential Payments on Termination or Change in Control | 35 |
| PAY VERSUS PERFORMANCE | 38 |
| Relationship Between Pay and Performance | 41 |
| Tabular List of Financial Performance Measures | 42 |
| CHIEF EXECUTIVE OFFICER PAY RATIO | 43 |
| SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS | 44 |
| Equity Compensation Plan Information | 44 |
| NON-EMPLOYEE DIRECTOR COMPENSATION | 45 |
| 2023 Director Compensation Table | 46 |
| CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | 47 |
| Related Party Transaction Policy | 47 |
| SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 48 |
| Delinquent Section 16(a) Reports | 50 |
| PROPOSAL TWO RATIFICATION OF APPOINTMENT OF OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2024 | 51 |
| Fees Paid to Independent Registered Public Accounting Firm | 51 |
| Policy and Procedure for Approval of Audit and Permitted Non-Audit Services | 51 |
| Vote Required | 51 |
| Recommendation of the Board | 52 |
| PROPOSAL THREE NON-BINDING ADVISORY VOTE TO APPROVE THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS | 53 |
|---|---|
| Vote Required | 53 |
| Recommendation of the Board | 53 |
| STOCKHOLDER PROPOSALS FOR 2025 ANNUAL MEETING | 54 |
| SOLICITATION OF PROXIES | 54 |
| HOUSEHOLDING | 54 |
| OTHER MATTERS | 55 |
3881 McGowen Street, Long Beach, California
PROXY STATEMENT
ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON JUNE 12, 2024
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.