This fifth amendment to the Schedule 13D, originally filed in 2021, reflects Peter Beck (Rocket Lab's founder and CEO), Equatorial Trust, its trustee Peek Street Equatorial Trustee Ltd, and directors Kerryn Beck and Warren Butler's current positions as of the March 27, 2026 event date. Beck beneficially owns 46,443,180 shares (7.51% of 572,468,968 outstanding common shares per March 20 proxy), comprising 491,930 direct common shares from RSU settlement and 45,951,250 shares underlying Series A Convertible Preferred Stock held by the Trust (7.43% for Trust entities). Key updates: On March 27, 2026, the Trust entered a Rule 10b5-1 plan with Goldman Sachs to sell up to 5M common shares after cooling-off (per Rule 10b5-1(c)(1)(ii)(B)(1)), expiring July 8, 2026, equating to ~10% of Beck's holdings for estate planning and philanthropy. On March 30, 2026, Beck forfeited all 392,155 unvested RSUs, redirecting allocated capital to company priorities and R&D, emphasizing long-term value over short-term incentives. Past 60 days: 18,857 shares sold March 2, 2026, via sell-to-cover for RSU tax withholding at weighted averages $66.83-$70.62.

Rocket Lab investors should view the 10b5-1 plan as structured liquidity by founder Beck amid personal planning needs, potentially adding near-term selling pressure (~0.9% of float if fully executed) but with safeguards against opportunistic timing; sales could commence ~late April 2026. Beck's RSU forfeiture positively signals strong alignment, sacrificing compensation for strategic R&D investment and fiscal prudence, reinforcing commitment despite high stock prices (~$68-70 on recent trades). With ~7.5% stake retained post-plan, influence remains; monitor actual sales volume, proxy vote outcomes, and R&D progress for validation.