diff --git a/Makefile b/Makefile
index 860f75dc75f..f10c44e915c 100644
--- a/Makefile
+++ b/Makefile
@@ -2,7 +2,7 @@ VERSION_MAJOR 	   = 1
 VERSION_MINOR 	   = 4
 PATCHLEVEL 	   = 0
 VERSION_RESERVED   = 0
-EXTRAVERSION       = -rc2
+EXTRAVERSION       = -rc3
 NAME 		   = Zephyr Kernel
 
 export SOURCE_DIR PROJECT MDEF_FILE