Ritchie Garth 4

What Happened

• Garth Ritchie, a director of Arqit Quantum Inc. (ARQQ), had several Restricted Share Units (RSUs) convert into ordinary shares on July 1, 2026 (zero cash exercise/conversion). He then sold 439 shares in an open-market transaction on July 2, 2026 at $25.20 per share, generating $11,064. The Form 4 shows multiple conversion/exercise (derivative code M) entries at $0.00 and matching derivative disposition entries at $0.00 tied to those RSUs.

Key Details

• Transaction dates and prices:
  • July 1, 2026: RSUs converted/exercised into shares (multiple lots: 50, 250, 250, 249 etc.) at $0.00 per share (derivative conversion).
  • July 2, 2026: Open-market sale of 439 shares at $25.20 each, proceeds $11,064.
• Shares owned after transaction: Not disclosed on the reporting excerpt.
• Notable footnotes:
  • F1: RSUs convert one-for-one into ARQQ ordinary shares.
  • F2–F5: Different RSU tranches had vesting schedules; some vested on July 1, 2026 and others vest quarterly through 2027–2028.
• Filing/issuer note: Form filed July 6, 2026. The issuer is a foreign private issuer; the filing states the reporting person's transactions are exempt from Sections 16(b) and 16(c) of the Exchange Act.

Context

• These entries reflect RSU conversions (derivative exercise/settlement) and a subsequent open-market sale of a portion of the resulting shares — effectively a post-vesting sale of awarded shares. This is commonly a routine transaction to satisfy diversification or tax needs rather than a direct cash purchase signal. The sale amount ($11,064) is modest relative to many insider trades. The filing does not indicate a 10b5-1 plan, tax-withholding disposition code, or late-filing designation.