Form 4: Rigetti Computing Director Cathy L. McCarthy Receives Annual Grant of Restricted Stock Units

Director Cathy L. McCarthy received an annual grant of 142,857 restricted stock units (RSUs) for her service as a director of Rigetti Computing, Inc.

Summary

• On June 18, 2024, Cathy L. McCarthy, a director of Rigetti Computing, Inc., was granted 142,857 restricted stock units (RSUs).
• These RSUs represent an annual grant for her service as a director.
• The shares underlying the RSUs will vest in full on the earlier of (i) the date of the Issuer's 2025 annual meeting of the stockholders (or the date immediately prior to such annual meeting if the Reporting Person's service as a director ends at such annual meeting) or (ii) on June 18, 2025, each subject to the Reporting Person's continuous service with the Issuer as of the applicable vesting date.
• Following this transaction, McCarthy beneficially owns 434,234 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine equity grant to a director, which is generally viewed as a positive sign of aligning interests. The sentiment is neutral to slightly positive.

Positives

• The grant of RSUs aligns the director's interests with the company's performance and shareholder value.
• The vesting schedule incentivizes continued service and commitment to Rigetti Computing.

Future Outlook

The document does not contain any specific forward-looking statements or guidance beyond the vesting schedule of the RSUs.

Industry Context

Equity compensation is a common practice for directors of publicly traded companies, aligning their interests with those of shareholders and incentivizing long-term value creation. This grant is typical for director compensation packages.

Comparison to Industry Standards

• Director compensation packages in the tech industry often include a mix of cash retainers, equity grants (like RSUs or stock options), and other benefits.
• The size of the RSU grant is likely benchmarked against peer companies in the quantum computing or high-tech sectors to ensure competitive compensation for board members.
• Comparable companies like IonQ or D-Wave Systems would likely have similar equity compensation structures for their directors.

Stakeholder Impact

• The RSU grant aligns the director's interests with shareholders, incentivizing decisions that increase shareholder value.
• The grant has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates