Form 4: Rigetti Computing Director Alissa Fitzgerald Reports Stock Sale and Grant of Restricted Stock Units

Director Alissa Fitzgerald reports selling 50,000 shares of Rigetti Computing and receiving a grant of 142,857 restricted stock units.

Summary

• On June 18, 2024, Alissa Fitzgerald, a director of Rigetti Computing, sold 50,000 shares of common stock at a weighted average price ranging from $0.98 to $1.03.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 13, 2023.
• Fitzgerald also acquired 142,857 restricted stock units (RSUs) as an annual grant for her service as a director.
• These RSUs will vest on the earlier of the 2025 annual meeting of stockholders or June 18, 2025, contingent upon her continuous service as a director.

Sentiment

Score: 5

Explanation: The document reports routine transactions (stock sale under 10b5-1 plan and RSU grant). The sale could be seen as slightly negative, but the RSU grant is a positive sign of continued commitment.

Positives

• The grant of restricted stock units to the director aligns her interests with those of the shareholders.

Negatives

• The sale of 50,000 shares by a director could be perceived negatively by investors, although it was executed under a pre-arranged trading plan.

Risks

• The vesting of the RSUs is contingent upon the director's continuous service, which introduces a risk if she were to leave the company before the vesting date.

Future Outlook

The vesting of the RSUs is dependent on the director's continued service with the company through the earlier of the 2025 annual meeting or June 18, 2025.

Industry Context

Insider transactions are closely monitored by investors as they can provide insights into management's perspective on the company's prospects. Rule 10b5-1 plans are often used to mitigate concerns about insider trading.

Comparison to Industry Standards

• Director compensation packages often include restricted stock units to align director and shareholder interests.
• The vesting schedule of the RSUs is typical for director compensation, often tied to annual meetings or specific dates.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, but the pre-arranged trading plan mitigates concerns about insider information.
• The RSU grant incentivizes the director to continue serving the company, which benefits stakeholders.

Key Dates