Rocket Lab USA, Inc. has agreed to exchange 50,951,250 shares of common stock owned by its founder, Sir Peter Beck, for an equal number of shares of Series A Convertible Participating Preferred Stock, ensuring his continued leadership and influence in the company. Sir Peter will also receive a compensation package including an annual salary of $800,000 and performance-based bonuses, with a total of 631,498 restricted stock units granted for fiscal year 2024.