Rocket Lab SEC Filings

Annual Report - FY 2024

Rocket Lab reported FY24 revenue of $436M, up 78% YoY driven by Space Systems growth and higher Electron launch cadence (16 vs 10). Gross margins improved to 26.6% (+5.6pp YoY) from scale efficiencies. Operating loss narrowed to -43.6% margin amid Neutron investments; backlog reached $1.1B.

This Schedule 13D/A (Amendment No. 6) discloses updates to Khosla Ventures entities' beneficial ownership in Rocket Lab, triggered by distributions on January 29, 2025. KV V distributed 11.5 million shares pro rata to partners between January 10 and February 4, 2025, with VK Services receiving 2.8 million, now holding 29.7 million directly; overall, Vinod Khosla and VK Services beneficially own 51 million shares (10.2%). Investors should note the passive investment stance amid position adjustments.

This Schedule 13D Amendment No. 5 discloses that Bessemer Venture Partners entities ceased beneficial ownership above 5% of Rocket Lab's common stock on November 8, 2024. As of December 31, 2024, they hold 8,168,616 shares (1.6%). Investors should note the reduced influence of this early backer amid ongoing share dilution.

Director Nina Armagno sold 10,000 shares of RKLB common stock on 12/11/2024 at a weighted average price of $23.6345, reducing her direct holdings to 132,294 shares. This appears to be a discretionary open-market sale, as no 10b5-1 plan was indicated. The small sale relative to holdings sends a moderately bearish signal.

Vinod Khosla (Director, 10% Owner) and Khosla entities reported pro rata distributions of 2,000,000 common shares from Khosla Ventures V, L.P. to partners on 02/03-04/2025 at $0/share (code J). No cash exchanged; internal fund adjustment. Signal: neutral.

Khosla Ventures V, L.P. (10% owner, related to director Vinod Khosla) disposed of 3,000,000 shares through three 1M-share pro rata distributions to partners on Jan 29-31, 2025, at $0. Ownership form is indirect, with holdings dropping from ~26.3M to 23.3M shares. Neutral signal as this is internal VC fund distribution, not open market selling.

Khosla Ventures V, L.P. (10% owner, affiliated with Director Vinod Khosla) disposed of 1.5M shares on 01/10/2025 and 5M shares on 01/13/2025 through non-cash pro rata distributions to limited and general partners. Shares were further redistributed among Khosla entities, with VK Services now holding 28.4M shares directly. Neutral signal as it reflects internal ownership restructuring without monetization.

Rocket Lab consummated a previously announced exchange agreement, converting 50,951,250 common shares held by Sir Peter Beck's family trust into an equal number of Series A Convertible Participating Preferred Stock on January 7, 2025. The preferred stock grants board designation rights and automatic conversion triggers tied to Beck's CEO role. No quantifiable financial impact as it's a non-cash transaction.

This Schedule 13D Amendment No. 3 discloses the Jan 7, 2025, closing of an exchange where Equatorial Trust (controlled by CEO Peter Beck) swapped 50,951,250 common shares for equivalent Series A Convertible Participating Preferred Stock. Peter Beck's beneficial ownership remains 51,306,468 shares (10.26%). Relevant for investors tracking insider holdings and control.

Peter Beck, President, CEO & Chairman of Rocket Lab, via family trust, exchanged 50,951,250 common shares for equivalent Series A Convertible Participating Preferred Stock on 01/07/2025. This non-cash restructuring maintains beneficial ownership without divestment. Signal is neutral to bullish.