## Filing Overview **Filing Date**: 2025-01-07 **Type of Filing**: [[Filing Definitions#8-K|8-K]] ## Notes Rocket Lab USA, Inc. completed the exchange of 50,951,250 shares of common stock into Series A Convertible Participating Preferred Stock, as agreed in the exchange agreement with [[The Equatorial Trust]]. This agreement involved [[Peter Beck]], Rocket Lab's Founder, CEO, and Chairman. The newly issued preferred stock provides unique rights, including conversion back to common stock under specific conditions and the ability to appoint a director to the board. Key Details: - **Preferred Stock Conversion**: Each share of preferred stock is convertible into one share of common stock. - **Automatic Conversion Triggers**: Includes changes in leadership or beneficial ownership. - **Voting Rights**: Preferred stockholders can appoint directors to maintain 10% representation on the board. - **Liquidation Preference**: $0.0001 per share, pari passu with common stockholders after debts are satisfied. The full terms of the preferred stock are detailed in the attached Certificate of Designation. ## Filing ![[bed92e8d-0ce6-4592-aeea-27e7c3a4ab04.pdf]]