Lefebvre d'Ovidio Manfredi 4
4 · Arqit Quantum Inc. · Filed Jun 30, 2026
Research Summary
AI-generated summary of this filing
Arqit (ARQQ) Director Lefebvre d'Ovidio Manfredi Sells 430 Shares
What Happened Lefebvre d'Ovidio Manfredi, a director of Arqit Quantum Inc. (ARQQ), reported two dispositions of derivative securities: 317 "shares" at $1.20 on 2026-06-26 for $380, and 113 "shares" at $1.50 on 2026-06-29 for $170 — a combined 430 shares for $550. The Form 4 classifies these as derivative transactions (code S — sale/disposition).
Key Details
- Transaction dates and amounts:
- 2026-06-26: 317 derivative shares @ $1.20 = $380
- 2026-06-29: 113 derivative shares @ $1.50 = $170
- Filing: Form filed 2026-06-30 covering the above transactions.
- Shares owned after transaction: The filing does not state ordinary shares held post-sale. It does disclose the reporting person beneficially owns 374,669 Business Combination Warrants (see footnote), equivalent to 14,986.76 ARQQ ordinary shares on a post-reverse-split basis if all warrants were exercised.
- Notable footnote: A 25-for-1 reverse stock split (effective 9/19/2024) changed warrant mechanics — each Business Combination Warrant can be exercised for 0.04 of a post-split share, requiring 25 warrants to receive one whole share at an aggregate exercise price of $287.50 per share. The filing notes the issuer is a foreign private issuer; transactions are exempt from Sections 16(b) and 16(c).
Context These were disposals of derivative securities as reported on the Form 4 (not direct open-market sales of common stock). Derivative transactions can reflect different tax or structural reasons and don’t necessarily signal the same thing as a direct sale of common shares. The filing shows the director retains a substantial position in Business Combination Warrants, which could convert to ordinary shares under the post-split exercise terms.
Insider Transaction Report
- Sale
Business Combination Warrants (right to buy)
[F1]2026-06-26$1.20/sh−317$380→ 15,099.32 total(indirect: Beneficially owned through Heritage Assets SCSp)Exp: 2026-09-03→ Ordinary Shares (317 underlying) - Sale
Business Combination Warrants (right to buy)
[F1]2026-06-29$1.50/sh−113$170→ 14,986.76 total(indirect: Beneficially owned through Heritage Assets SCSp)Exp: 2026-09-03→ Ordinary Shares (113 underlying)
Footnotes (1)
- [F1]On September 19, 2024, Arqit Quantum Inc. (ARQQ) announced the implementation of a reverse stock split whereby every 25 outstanding ARQQ ordinary shares were consolidated into one ordinary share, par value $0.0025 per share. Each Business Combination Warrant has an exercise price of $11.50 and can be exercised at any time, at the holder's election, to purchase 0.04 of an ARQQ ordinary share on a post-reverse stock split basis, and cannot be exercised for fractional shares. Accordingly, on a post-reverse stock split basis holders of Business Combination Warrants are required to exercise at least 25 Business Combination Warrants in order to receive one whole ARQQ ordinary share at an aggregate exercise price of $287.50 per whole ARQQ ordinary share. The reporting person beneficially owns 374,669 Business Combination Warrants, which, if exercised in full, would be equivalent to 14,986.76 ARQQ ordinary shares on a post-reverse stock split basis.