Form 4: Rigetti Computing Director Michael S. Clifton Receives Stock Grant

Michael S. Clifton, a director at Rigetti Computing, received a grant of 142,857 shares of common stock on June 18, 2024.

Summary

• Michael S. Clifton, a director at Rigetti Computing, Inc., filed a Form 4 on June 20, 2024, reporting a transaction.
• On June 18, 2024, Clifton acquired 142,857 shares of common stock through a grant.
• These shares were granted as restricted stock units (RSUs) for his service as a director.
• The RSUs will vest in full on the earlier of the date of the Issuer's 2025 annual meeting of the stockholders or on June 18, 2025, subject to continuous service as a director.
• Following the transaction, Clifton beneficially owns 1,438,864 shares of Rigetti Computing common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine director compensation event, which is generally viewed neutrally to positively as it aligns director interests with the company's performance.

Positives

• The grant of RSUs to a director aligns their interests with the long-term success of the company.
• The vesting schedule incentivizes continued service and commitment from the director.

Future Outlook

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

Industry Context

This type of stock grant is a common practice in publicly traded companies to compensate and incentivize directors.

Comparison to Industry Standards

• Stock grants to directors are a standard practice across the technology industry, including companies like IBM, Google, and Microsoft.
• The size of the grant is typical for companies of Rigetti's size and stage of development.
• Vesting schedules tied to continued service are also standard practice to ensure alignment of interests.

Stakeholder Impact

• The stock grant could have a slightly dilutive effect on existing shareholders.
• The grant incentivizes the director to act in the best interests of the company, which benefits all stakeholders.

Key Dates