Gould Greg 4

What Happened

• Greg Gould, Chief Financial Officer of Horizon Quantum Holdings Ltd. (HQ), was granted 285,300 stock options on March 19, 2026. These are derivative option awards (transaction code A) received as part of the company’s business combination.
• Each option is exercisable for 2.43499 Class A Ordinary Shares at $5.13 per share, so the 285,300 options correspond to roughly 694,679 underlying Class A shares. Exercising all options would cost approximately $3.56 million at the $5.13 strike (694,679 × $5.13).
• The award is largely unvested: 35,662 options were fully vested and exercisable as of March 24, 2026; the remaining 249,638 options vest quarterly in 16 equal installments (vesting began August 15, 2025).

Key Details

• Transaction date: 2026-03-19 (reported on Form 4 filed 2026-03-25). Filing appears late (transactionTimeliness = L).
• Transaction type: Award/Grant of derivative securities (stock options).
• Options granted/exchanged: 285,300 company options (exchanged for Legacy Horizon options upon closing of the Business Combination).
• Exercise terms: 2.43499 Class A shares per option; $5.13 exercise price per Class A share.
• Vested/exercisable after transaction: 35,662 options vested; 249,638 remain subject to vesting schedule.
• Notable footnotes: Options were exchanged from Legacy Horizon awards in connection with the business combination (BCA) and are substitute awards of equivalent economic value. Vesting schedule and exchange are described in the filing (see footnotes F1–F4).

Context

• This was an award resulting from the business combination, not an open-market purchase or sale. Because most of the options are unvested, the grant primarily reflects equity compensation tied to continued employment rather than an immediate buy/sell signal.
• These are options (derivative instruments); they are not shares until exercised and may never become shares if unexercised or forfeited. The late filing reduces near-term transparency but does not change the terms of the award.