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Ownership Report - February 17, 2026
Khosla affiliates distribute shares; VK Services holds 34.9M RKLB shares (6.5%).
Brief
This Schedule 13D/A (Amendment No. 10) removes Khosla Ventures V and Associates V as reporting persons after pro rata distributions of all shares by Dec 8, 2025. VK Services, LLC and Vinod Khosla now beneficially own 34,888,272 shares (6.5%). Investors note continued passive stake by prominent VC without activist intent.
Detailed Brief
Originally filed in 2021 post-SPAC merger with Vector, this 10th amendment reflects restructuring: KV V distributed 2,258,894 RKLB shares in-kind (Nov-Dec 2025) to LPs/GPs, including 553,696 to VK Services, leaving KV V/KVA V with zero shares. VK Services directly owns 34,888,272 shares; Vinod Khosla, as manager, shares voting/dispositive power (6.5% of 534M outstanding per Nov 2025 10-Q). Purpose remains investment-only, with rights to buy/sell or discuss strategy; holds registration rights from 2021 for shelf ($50M+ underwritten) and piggyback. Ties to Rocket Lab's origins as early investor (2013-2020 preferred stock for $28.2M). No plans for business changes.
Key Telemetry
- • VK Services and Vinod Khosla beneficially own 34,888,272 shares (6.5%).
- • KV V distributed 2,258,894 shares pro rata Nov-Dec 2025, including 553,696 to VK Services.
- • KV V and KVA V removed as reporting persons (own 0 shares).
- • Investment purpose only; registration rights for future sales intact.
- • Based on 534,156,333 shares outstanding (Nov 10, 2025 10-Q).
Impact Vector
Administrative update maintains Khosla's 6.5% passive stake, signaling long-term confidence from early backer without dilution or activism. Near-term: No impact, but watch registration rights for potential orderly sales. Strategic: Reinforces VC support amid Rocket Lab's launch growth; monitor future 13D amendments for engagement shifts.