Pasqal (PSQL) CEO Bokhari Mahmood Receives 665,507-Share Award

What Happened

• Bokhari Wasiq Mahmood, CEO of Pasqal Holding SA (PSQL), was granted an award reported as 665,507 shares on August 27, 2026. The grant is a derivative award (BSPCEs—French-style stock options) received in connection with the company’s business combination/merger.
• The BSPCEs have an exercise price of EUR 50. The filing does not show an immediate sale — this is an equity award subject to exercise and vesting, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-08-27. Transaction type: Grant/Award (code A).
• Shares reported granted: 665,507 (derivative award). Exercise price: EUR 50 (per footnote).
• Vesting / exercisability: As of the filing, 260,611 BSPCEs have fully vested and are exercisable; those vested BSPCEs correspond to 5,925,289 ordinary shares after the merger exchange adjustment. Remaining BSPCEs vest in monthly installments (various tranches from Sep 1, 2026 through Jul 1, 2029) — see footnote details in the filing.
• Merger treatment: Legacy BSPCEs of Legacy Pasqal were assumed by the new issuer and converted using the exchange ratio 22.7361449900136 (this produces the large underlying-share equivalents).
• Shares owned after transaction: the Form 4 does not list a simple total share count post-grant; it reports vested BSPCE counts and underlying share equivalents as noted above.
• Timeliness: Filing date is the same as the report date (2026-08-27), indicating a timely report.

Context

• BSPCEs are options/rights to buy shares (derivative awards). Receiving them does not create immediately tradable shares — the holder must wait for vested portions and then pay the exercise price to obtain ordinary shares.
• These awards were issued/adjusted as part of the company’s business combination (merger) and reflect assumed legacy awards converted to the public company structure. Awards tied to corporate transactions or compensation are common and do not necessarily signal immediate insider buying or selling.