Rigetti (RGTI) CEO Subodh Kulkarni Exercises Options & Sells 120,000 Shares

What Happened

• Subodh K. Kulkarni, President, CEO and a director of Rigetti Computing (RGTI), exercised options to acquire 150,000 shares at $0.96 per share (cost ~$144,570) and on the same day sold 120,000 shares in the open market for a weighted-average price of $15.68, totaling about $1,882,104. The Form 4 also records a separate derivative (exercise/conversion) entry for 150,000 shares listed as disposed at $0.00 (see filing for classification details).
• The sale was executed pursuant to a Rule 10b5‑1 trading plan adopted June 10, 2026. Sales by insiders are often routine or pre-planned; purchases (the exercised options) are purchases of company stock, but do not necessarily indicate a change in outlook.

Key Details

• Transaction date: 2026-09-09; Form 4 filed 2026-09-10 (timely filing).
• Sale: 120,000 shares sold, weighted-average price $15.68, total proceeds ≈ $1,882,104. Reported sale price range: $15.595–$15.80 (per footnote).
• Exercise/acquisition: 150,000 shares acquired by exercise at $0.96 each = $144,570.
• Derivative entry: 150,000 shares listed as disposed at $0.00 (filing lists this as an exercise/conversion — consult the filing for specifics).
• Option status: the stock option exercised is fully vested and exercisable (footnote).
• Shares owned after the transaction: not specified in the Form 4 (not provided in the reported entries).
• Footnote: sale executed under a pre-established Rule 10b5‑1 plan (adopted 6/10/2026).

Context

• Because the sale was made under a 10b5‑1 trading plan, it was likely pre-arranged and not necessarily a reflection of near‑term sentiment. The exercise and same‑day sale pattern is common when insiders exercise options and sell some shares to monetize gains or cover exercise costs, but the filing itself does not state motives.
• The filing appears timely (filed the next day), and the option exercised was fully vested per the filing. For full transaction breakdowns (e.g., how many shares were sold at each exact price within the reported range), refer to the full SEC Form 4 (Accession No. 0001123292-26-001272).