Lipman Paul 4

What Happened

• Paul Lipman, Chief Revenue Officer, was granted a series of derivative awards/options on Feb 13, 2026 totaling 1,172,572 underlying shares (555,844 + 486,364 + 14,767 + 115,597). The reported acquisition entries are listed as awards/derivative securities (code A); most show no cash price (N/A) and one shows $0.00, indicating these were issued as part of a corporate transaction rather than an open‑market purchase or sale.

Key Details

• Transaction date: February 13, 2026; Form 4 filed February 18, 2026 (filed within the two business‑day window, taking the Presidents’ Day holiday into account).
• Reported amounts: 555,844; 486,364; 14,767; and 115,597 shares (total 1,172,572).
• Prices: most entries show N/A (derivative awards); one entry lists $0.00.
• Footnotes: F1 — awards received pursuant to the Agreement and Plan of Merger and Reorganization (the company renamed to Infleqtion, Inc.); F2 — some awards are fully vested; F3 — legacy ColdQuanta options were converted into Issuer options with the same terms; F4 — one option award vests 1/48th monthly beginning Feb 17, 2026 (typical multi‑year vesting).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context

• These are derivative awards resulting from the merger (conversion of legacy company awards into Infleqtion securities). That typically reflects deal consideration and/or retention incentives rather than a personal stock purchase or sale. Some awards are fully vested and some vest monthly over time — vesting schedules affect when Lipman could actually exercise or sell underlying shares. This filing reports grants/award conversions, not open‑market buys or sales.