Form 4: Rigetti Computing Executive David Rivas Reports Stock Sale and RSU Award

David Rivas, Chief Technology Officer of Rigetti Computing, sold shares to cover tax obligations and received a new restricted stock unit (RSU) award.

Summary

• On March 18, 2024, David Rivas, the Chief Technology Officer of Rigetti Computing, reported a transaction involving the company's common stock.
• Rivas sold 9,273 shares of common stock at a weighted average price of $1.97 per share to cover tax withholding obligations related to the settlement of restricted stock units (RSUs).
• The sale price ranged from $1.945 to $2.045.
• Rivas also acquired 500,000 shares in the form of an RSU award.
• One-twenty fourth (1/24th) of the total number of RSUs will vest on the 20th day of each month commencing in April 2024, subject to continuous service.
• Following these transactions, Rivas beneficially owns 1,380,440 shares of Rigetti Computing.

Sentiment

Score: 6

Explanation: The document is neutral. It simply reports transactions by an executive. The RSU award is a positive sign, but the stock sale is a routine event.

Positives

• The RSU award to the CTO suggests continued investment in the company's leadership.

Future Outlook

The RSU award vests monthly starting in April 2024, contingent on continued service.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for company insiders, providing transparency into their transactions in the company's stock. It is common for executives to sell shares to cover tax obligations related to equity compensation.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the small volume of shares sold.

Key Dates