Rocket Companies Inc
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 2024
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Item 5. Other Information
On June 30, 2024, the pre-arranged stock trading plan pursuant to Rule 10b5-1 of Matthew Rizik, a member of the Company’s Board of Directors, automatically terminated pursuant to its terms. The expired plan was adopted by Mr. Rizik on November 9, 2023, and provided for the potential purchase of shares not to exceed $250,000 of Class A common stock until June 30, 2024.
During the three months ended June 30, 2024, no director or "officer" (as defined in Rule 16a-1(f) under the Exchange Act) of the Company, other than Mr. Rizik, informed the Company of the adoption, modification or termination of a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K under the Exchange Act.
JPMorgan Chase Bank, N.A. EBO Facility Amendment
On August 1, 2024, Rocket Mortgage, LLC entered into an amendment to the Amended and Restated Master Repurchase Agreement dated as of May 31, 2024 among JPMorgan Chase Bank, N.A., as buyer, QL Ginnie EBO, LLC, as seller, QL Ginnie REO, LLC, as the REO Subsidiary, together with seller, the seller parties, and Rocket Mortgage, LLC, as guarantor (the “EBO Facility Amendment”), and the related amendment to the pricing side letter dated as of August 1, 2024. The amendments increased the facility amount from $1.0 billion to $2.0 billion and effectuated certain other technical changes. The above description of the terms of the EBO Facility Amendment is qualified in its entirety by reference to the full text of the EBO Facility Amendment, a copy of which is filed as an exhibit to this Form 10-Q.
JPMorgan Chase Bank, N.A. Facility Renewal
On August 1, 2024, Rocket Mortgage, LLC entered into an amendment to the First Amended and Restated Master Repurchase Agreement dated as of August 11, 2022 by and among Rocket Mortgage, LLC, as seller, JPMorgan Chase Bank, N.A., its successors, assignees and affiliates, as a buyer and as administrative agent for buyers, and the other buyers party thereto (the “Renewal Amendment”) and the related side letter dated as of August 1, 2024. The amendments extended the maturity date to August 1, 2026, decreased the facility amount from $2.0 billion to $1.0 billion, and effectuated certain other technical changes. The above description of the terms of the Renewal Amendment is qualified in its entirety by reference to the full text of the Renewal Amendment, a copy of which is filed as an exhibit to this Form 10-Q.
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