Leaver Andrew 4

What Happened Andrew Leaver, CEO of Arqit Quantum Inc. (ARQQ), converted 15,625 restricted share units (RSUs) into ordinary shares on July 1, 2026 (no cash paid) and then sold 9,893 shares in an open-market transaction on July 2, 2026 for $25.20 each, netting approximately $249,329. The RSU conversion is reported as an exercise/conversion of a derivative (Form 4 code M).

Key Details

• Transactions:
  • 2026-07-01: Converted/exercised 15,625 RSUs into 15,625 ARQQ shares at $0.00 (acquired).
  • 2026-07-01: A related derivative disposition of 15,625 shares is also reported (code M).
  • 2026-07-02: Sold 9,893 shares in the open market at $25.20 each for $249,329 (disposed).
• Shares owned following the transactions: Not specified in the filing.
• Footnotes:
  • F1: RSUs convert to ordinary shares on a one-for-one basis.
  • F2: The RSUs vest quarterly (next vesting dates include July 1 and Oct 1, 2026, then quarterly through Oct 1, 2029).
• Filing timeliness: Form filed July 6, 2026. The July 1 conversion would normally be required to be reported within two business days (by July 3), so the filing appears late for that conversion. The July 2 sale is reported within two business days (filed July 6).
• Other: Issuer is a foreign private issuer, so transactions are exempt from Sections 16(b) and 16(c); Power of Attorney (Exhibit 24) is attached.

Context

• The July 1 entry is a conversion of RSUs (derivative vest/exercise) rather than a cash purchase — common when restricted awards vest and convert to shares.
• The open-market sale the next day realized cash (~$249K). The filing does not state whether the sold shares were the newly converted RSUs or previously held shares; the Form 4 itself only reports the conversion and the sale.
• These entries are routine insider reports of compensation-related share conversions and a subsequent sale; they are factual disclosures and do not, by themselves, indicate the CEO’s broader view of the company.