Feenan Paul 4

What Happened
Paul Feenan, Chief Revenue Officer of Arqit Quantum Inc. (ARQQ), had Restricted Share Units (RSUs) convert into ordinary shares on July 1, 2026 (totaling 3,222 shares acquired at $0). The filing shows matching $0 disposals of 3,222 shares (commonly used for tax withholding) and an open-market sale of 1,834 shares on July 2, 2026 at $25.20 per share, generating $46,222 in proceeds. The conversions are reported as derivative exercises/conversions (code M) and the open-market sale as a sale (code S).

Key Details

• Transaction dates and prices:
  • Jul 1, 2026: RSU conversions/exercises (code M) into 1,666; 119; 472; and 965 shares (aggregate 3,222) at $0 per share.
  • Jul 1, 2026: Matching $0 disposals of the same 3,222 shares (reported as derivative disposals).
  • Jul 2, 2026: Open-market sale of 1,834 shares at $25.20, proceeds $46,222.
• Shares owned after transaction: Not stated in the filing.
• Notable footnotes: RSUs convert one-for-one into ordinary shares and vest on scheduled dates (see F1–F5 for vesting schedules covering July 2026 through 2028).
• Timeliness and exemptions: Report filed Jul 6, 2026 for transactions through Jul 2/Jul 1, 2026. Issuer is a foreign private issuer; transactions are reported as exempt from Sections 16(b) and 16(c) of the Exchange Act.

Context

• The filing shows RSU conversions at $0 per share and matching $0 disposals — a pattern commonly used to satisfy tax withholding when awards vest. Separately, Feenan sold 1,834 shares in the open market for cash proceeds of $46,222.
• Sales by insiders can be routine (taxes, diversification, liquidity) and do not by themselves indicate the insider’s view of the company’s prospects; purchases tend to be more informative.