Kulkarni Subodh K 4
4 · Rigetti Computing, Inc. · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
Rigetti (RGTI) CEO Subodh Kulkarni Exercises Options, Sells Shares
What Happened
Subodh K. Kulkarni, President, CEO and a director of Rigetti Computing (RGTI), exercised stock options and sold shares. On May 28, 2026 he exercised options that resulted in the acquisition of 214,601 shares (70,000 @ $0.96; 111,111 @ $1.05; 33,490 @ $1.41) at a reported aggregate exercise cost of about $231,354. He also sold shares in open-market transactions: 43,190 shares at a weighted average price of $26.23 (total $1,132,839) and, on June 1, 2026, 61,000 shares at a weighted average price of $24.38 (total $1,487,064) — combined sale proceeds ≈ $2,619,903. The filing also reports corresponding derivative disposals (zero-dollar entries) tied to the option exercises and share-withholding to cover exercise price/taxes.
Key Details
- Transaction dates: exercises and some sales on 2026-05-28; additional open-market sale on 2026-06-01.
- Option exercises acquired: 214,601 shares at exercise prices of $0.96, $1.05 and $1.41 (aggregate reported cash paid ≈ $231,354).
- Open-market sales: 43,190 shares @ weighted $26.23 (prices ranged $26.20–$26.69); 61,000 shares @ weighted $24.38 (prices ranged $24.08–$24.73). Total proceeds ≈ $2.62M.
- Reported zero-dollar "Disposed" entries represent derivative/option instrument dispositions related to the exercises; footnote F1 confirms some shares were sold to pay exercise price and/or cover taxes.
- Vesting notes: some options are fully vested (F4) or vest monthly per F5/F6 schedules.
- Filing: Form 4 filed 2026-06-01 reporting transactions dated 2026-05-28 (filed 4 days after the trades). The filing does not state the reporting person’s total RGTI holdings after these transactions.
Context
This was an option exercise followed by sales (including share sales to cover exercise/taxes). That pattern is common when insiders exercise vested options and either sell some shares to fund the exercise/tax liability or take cash. The filing is factual and does not state motives; purchases generally signal stronger buy-side conviction than routine sell-to-cover transactions.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-05-28$0.96/sh+70,000$67,466→ 70,000 total - Exercise/Conversion
Common Stock
2026-05-28$1.05/sh+111,111$116,667→ 181,111 total - Exercise/Conversion
Common Stock
2026-05-28$1.41/sh+33,490$47,221→ 214,601 total - Sale
Common Stock
[F1][F2]2026-05-28$26.23/sh−43,190$1,132,839→ 171,411 total - Sale
Common Stock
[F1][F3]2026-06-01$24.38/sh−61,000$1,487,064→ 110,411 total - Exercise/Conversion
Employee Stock Option (right to buy)
[F4]2026-05-28−70,000→ 430,000 totalExercise: $0.96Exp: 2032-12-11→ Common Stock (70,000 underlying) - Exercise/Conversion
Employee Stock Option (right to buy)
[F5]2026-05-28−111,111→ 888,889 totalExercise: $1.05Exp: 2033-11-21→ Common Stock (111,111 underlying) - Exercise/Conversion
Employee Stock Option (right to buy)
[F6]2026-05-28−33,490→ 966,510 totalExercise: $1.41Exp: 2034-11-14→ Common Stock (33,490 underlying)
Footnotes (6)
- [F1]Represents shares sold by the Reporting Person in order to pay the exercise price of stock options and/or to cover certain taxes in connection with the exercise of stock options.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.20 to $26.69, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.08 to $24.73, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F4]The stock option is fully vested and exercisable.
- [F5]One-thirty-sixth (1/36th) of this option vested and became exercisable on December 22, 2023, with the remainder vesting in equal monthly installments on the 22nd day of each calendar month thereafter, subject to the Reporting Person's continuous service with the Issuer through each such vesting date.
- [F6]One-thirty-sixth (1/36th) of this option vested and became exercisable on December 15, 2024, with the remainder vesting in equal monthly installments on the 15th day of each calendar month thereafter, subject to the Reporting Person's continuous service with the Issuer through each such vesting date.