Lefebvre d'Ovidio Manfredi 4

What Happened
Lefebvre d'Ovidio Manfredi, a director of Arqit Quantum Inc. (ARQQ), reported sales of derivative-linked interests totaling 1,114 shares (659 on 2026-06-24 and 455 on 2026-06-25) at $1.20 per share. The two disposals generated proceeds of $791 and $546 respectively, for combined proceeds of $1,337. The filing classifies these as dispositions of derivative securities rather than direct sales of ordinary shares.

Key Details

• Transaction dates and prices: 659 shares sold 2026-06-24 @ $1.20 ($791); 455 shares sold 2026-06-25 @ $1.20 ($546).
• Shares after transaction: The Form 4 does not list direct ordinary-share holdings; it discloses beneficial ownership of 385,402 Business Combination Warrants (see footnote).
• Notable footnote: A 2024 reverse stock split consolidated every 25 ordinary shares into 1 share. Each Business Combination Warrant can be exercised to purchase 0.04 of an ordinary share post-split; 25 warrants are required to obtain one whole share at an aggregate exercise price of $287.50. The reporting person’s 385,402 warrants would equal 15,416.08 ordinary shares if fully exercised.
• Timeliness/filing: Filing date 2026-06-26 for transactions on 2026-06-24–25; no late filing is indicated in the report.
• Exemption note: Because Arqit is a foreign private issuer, the reporting person’s transactions are exempt from Sections 16(b) and 16(c) of the Securities Exchange Act.

Context
These were sales of derivative securities (warrants or similar), not direct purchases of stock. Sales by insiders are common and may be routine (taxes, diversification, etc.); they do not necessarily indicate a change in company outlook. The footnote clarifies the warrant-to-share conversion and exercise cost, which is important for understanding potential future dilution if warrants are exercised.