Roberts Christopher Bruce 4

What Happened

• Christopher Bruce Roberts, CFO and General Counsel of Quantum Computing Inc. (QUBT), exercised 400,000 stock options on March 10, 2026 at an exercise price of $6.85 (total cost $2,740,000) and subsequently sold 78,262 of the resulting shares in open-market transactions for approximately $614,500 (weighted-average sale price $7.85). The filings show the option exercise/conversion (Form 4 code M) and two sales (codes S) on March 10 and March 11, 2026.
• These actions were part of a broker-assisted cashless exercise: shares were sold to cover the exercise price, withholding taxes, and broker fees.

Key Details

• Transaction dates and prices:
  • 2026-03-10: Exercised 400,000 options at $6.85 (acquired shares; reported cost $2,740,000).
  • 2026-03-10: Sold 68,902 shares at a weighted-average price of $7.85 (proceeds $541,005).
  • 2026-03-11: Sold 9,360 shares at a weighted-average price of $7.85 (proceeds $73,495).
  • Weighted-average sale price range: $7.8500–$7.8550 (per footnote).
• Total shares sold: 78,262; total sale proceeds: ~$614,500.
• Shares owned after transaction: Not specified in this Form 4 filing.
• Notable footnotes:
  • F1: Sales were to cover exercise price, withholding tax obligations, and broker fees via a broker-assisted cashless exercise of options granted April 26, 2021.
  • F2: Reported price is a weighted-average; full per-price breakdown available on request.
  • F3: Option grant and vesting schedule (150,000 vested at grant; remaining vested over 36 months).
• Filing timeliness: Form filed March 11, 2026 covering transactions on March 10–11; this appears timely (Form 4 generally must be filed within two business days).

Context

• This was an option exercise with partial immediate sale (cashless exercise). The exercise created the shares (conversion of derivatives to stock) and a portion was sold to cover costs—common for option holders exercising vested awards.
• Sales to cover taxes/fees are routine and do not necessarily indicate a change in insider sentiment. Purchases would be a clearer bullish signal; here the net effect was acquisition via exercise offset by partial sale for cashless settlement.