Klein Michael Stuart 4
4 · Churchill Capital Corp X/Cayman · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
INFQ 10% Holder Michael Klein Converts Derivatives to Shares
What Happened
- Michael Stuart Klein (reported as a 10% owner and former CEO/Chairman of CCX) reported conversions and other derivative-related transactions tied to the February 2026 business combination and domestication. The Form 4 shows: conversion/acquisition of 10,650,000 shares, conversion/disposition of 10,350,000 shares (derivative), and acquisition of 75,000 shares (derivative). No cash price is reported for these transactions (price: N/A) — these were conversions/structural changes rather than open-market buys/sells.
Key Details
- Transaction date(s): February 12, 2026. Form filed: February 17, 2026.
- Reported amounts: +10,650,000 shares (conversion/acquired), -10,350,000 shares (conversion/disposed, derivative), +75,000 shares (other acquisition, derivative). No per-share price or dollar total reported (N/A).
- Shares/warrants context: The transactions relate to the merger of Legacy Infleqtion into the issuer and the issuer’s domestication to Delaware; CCX units separated into shares and warrants (300,000 units → 300,000 shares + 75,000 warrants). The 75,000 shares reported relate to warrants that become exercisable 30 days after completion of the mergers.
- Holdings: Reported securities are held directly by the Sponsor; Klein is the controlling stockholder of the Sponsor. The filing disclaims beneficial ownership except to the extent of pecuniary interest. The Form does not state an exact post-transaction total share count for Klein.
- Timeliness: Transactions dated Feb 12; Form filed Feb 17. Form 4s are generally due within two business days of the transaction, so this filing appears later than the typical two-business-day window.
Context
- These entries are derivative conversions tied to a corporate transaction (merger and domestication), not open-market purchases or sales based on market timing. For retail investors, that means the movements reflect corporate restructuring and unit/warrant conversions rather than an insider buying or selling shares for investment reasons. The warrants referenced will only be exercisable after the stated post-merger waiting period.
Insider Transaction Report
Form 4Exit
Klein Michael Stuart
DirectorSee Remarks10% Owner
Transactions
- Conversion
Common Stock
[F1][F2][F3][F4][F5]2026-02-12+10,650,000→ 10,650,000 total(indirect: See footnote) - Conversion
Class B ordinary shares
[F1][F2][F3][F5]2026-02-12−10,350,000→ 0 total(indirect: See footnote)→ Common Stock (10,350,000 underlying) - Other
Warrant (Right to Buy)
[F6][F5]2026-02-12+75,000→ 75,000 total(indirect: See footnote)Exercise: $11.50From: 2026-03-15Exp: 2031-02-13→ Common Stock (75,000 underlying)
Footnotes (6)
- [F1]In connection with the transactions consummated on February 13, 2026 pursuant to that certain Agreement and Plan of Merger and Reorganization Agreement, dated as of September 8, 2025 (the "Merger Agreement"), by and among Infleqtion, Inc. (the "Issuer") (f/k/a Churchill Capital Corp X ("CCX")), AH Merger Sub I, Inc., a wholly owned subsidiary of the Issuer ("Merger Sub I"), AH Merger Sub II, LLC, a wholly owned subsidiary of the Issuer ("Merger Sub II") and ColdQuanta, Inc. (d/b/a Infleqtion), a Delaware corporation ("Legacy Infleqtion"). Pursuant to the Merger Agreement, and on the terms and subject to the satisfaction or waiver of the conditions set forth therein, the parties effected a business combination transaction by which Merger Sub I merged with and into the Legacy Infleqtion, with Legacy Infleqtion continuing as the surviving corporation and a wholly-owned subsidiary of the Issuer ("First Merger"),
- [F2](Continued from footnote 1) and immediately following the First Merger, the surviving corporation of the First Merger merged with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the "Second Merger" and, together with the First Merger, the "Mergers").
- [F3]The Issuer effected a deregistration under Article 41 of CCX's amended and restated memorandum and articles of association and Section 206 of the Companies Act (As Revised) of the Cayman Islands and a domestication under Section 388 of the Delaware General Corporation Law, pursuant to which CCX's jurisdiction of incorporation changed from the Cayman Islands to the State of Delaware (the "Domestication"). Effective upon the Domestication, (i) each Class B ordinary share of the Issuer automatically converted into a Class A ordinary share (the "Class A Ordinary Share") on a one-to-one basis, and (ii) each Class A Ordinary Share converted into common stock, par value $0.0001 per share ("Common Stock"), of the Issuer, Infleqtion, Inc., on a one-to-one basis. The reporting person now holds Common Stock of the Issuer rather than Class A Ordinary Shares in a Cayman Islands company.
- [F4]Includes 300,000 shares which were acquired as part of 300,000 units pursuant to a Private Placement Units Purchase Agreement by and between the Churchill Sponsor X LLC (the "Sponsor") and CCX, and have been continually held since CCX's initial public offering. Effective upon the Domestication, (i) each unit of CCX separated into one share per unit and one-quarter of one whole warrant of CCX per unit, each whole warrant exercisable for one Class A Ordinary Share, (ii) each share converted into one share of Common Stock of the Issuer on a one-to-one basis and (iii) each warrant automatically converted into a warrant to acquire Common Stock of the Issuer.
- [F5]The reported shares and warrants of the Issuer are directly held by the Sponsor. Michael Klein is the controlling stockholder of M. Klein Associates, Inc., which is the managing member of the Sponsor. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 under the Securities Exchange Act of 1934, as amended, or otherwise, any of the Reporting Persons is the beneficial owner of any securities reported herein. The Reporting Persons disclaim beneficial ownership of any securities of the Issuer except to the extent of such Reporting Person's pecuniary interest therein.
- [F6]Represents 75,000 shares underlying warrants which were acquired as part of 300,000 units pursuant to a Private Placement Units Purchase Agreement by and between the Sponsor and CCX, and have been continually held since CCX's initial public offering. Effective upon the Domestication, (i) each unit of CCX separated into one share per unit and one-quarter of one whole warrant of CCX per unit, each whole warrant exercisable for one Class A Ordinary Share, (ii) each share converted into one share of Common Stock of the Issuer on a one-to-one basis and (iii) each warrant automatically converted into a warrant to acquire Common Stock of the Issuer. The warrants become exercisable 30 days after the completion of the Mergers.