Pasqal (PSQL) CTO Loic Henriet Receives 1.37M Share Award

What Happened

• Loic Henriet, Chief Technology Officer of Pasqal Holding SA (PSQL), was reported as receiving two awards on 2026-08-27: 1,034,244 ordinary shares (converted from Legacy Pasqal holdings) and 332,753 derivative rights (assumed BSPCEs/options). The filing lists no cash price for the converted shares (N/A); the derivative awards have an exercise price of €50 per share (footnote F4). These grants/assumptions arose in connection with the company’s business combination/merger.

Key Details

• Transaction date: 2026-08-27 (filed same day).
• Awards: 1,034,244 ordinary shares (conversion) + 332,753 derivative securities (BSPCE-style rights).
• Price/exercise: Converted shares — N/A; derivative exercise price — €50 per share (footnote F4).
• Exchange ratio: Legacy Pasqal shares were converted using the merger’s exchange ratio of 22.7361449900136 (footnote F3).
• Vesting/assumption: Legacy BSPCEs were assumed by the issuer and adjusted for the exchange ratio (footnote F6). Footnote F5 describes a vesting schedule and notes 129,055 BSPCEs (across holders) are fully vested and exercisable for 2,934,213 underlying shares; remaining BSPCEs vest monthly per the schedule in F5.
• Shares owned after transaction: Not specified in the filing.
• Timeliness: Filing date matches the transaction date (no late filing indicated).

Context

• These entries are awards/assumptions tied to the merger (not open-market purchases or sales). The derivative entries are BSPCE-style employee subscription rights (French-style stock warrants/options) that give the holder the right to buy shares at the stated exercise price; they were assumed and adjusted in the Merger rather than newly purchased. Such merger-related conversions and compensation grants are common and reflect corporate restructuring and employee equity treatment rather than an immediate bullish or bearish trading signal.