On September 6, 2024, Rocket Lab announced the appointment of Frank Klein, age 52, as Chief Operations Officer effective September 16, 2024, under Item 5.02 of the 8-K. Klein brings extensive experience: VP Engineering and Manufacturing then President at Magna Steyr AG (2019-2022), overseeing global operations, and most recently COO at Rivian Automotive (2022-2024), scaling from startup to high-volume EV production with 9,000+ employees. His role focuses on scaling manufacturing of spacecraft, launch vehicles, and components amid growing customer demand and over $1 billion in backlog orders. Employment terms include a $400,000 annual base salary, discretionary bonus up to 70% of base, 1,300,000 restricted stock units vesting over four years, $100,000 sign-on bonus, and eligibility under the Executive Severance Plan. No material related transactions or arrangements exist. A press release was issued September 10, 2024 (Exhibit 99.1).

Near-term, Klein's appointment bolsters operational leadership to execute on backlog, aiding production ramp-up without immediate financial impact. Strategically significant for Rocket Lab's growth phase in launch and space systems, signaling commitment to scaling amid Neutron development. Investors should view positively as execution risk mitigation; monitor Q3 results for integration progress.