Form 4: Rigetti Computing Executive Sells Shares to Cover Tax Obligations

Rigetti Computing's General Counsel, Richard Danis, sold 5,982 shares of common stock to cover tax obligations related to the settlement of restricted stock units.

Summary

• Richard Danis, General Counsel and Corporate Secretary of Rigetti Computing, Inc., sold 5,982 shares of common stock on November 15, 2024.
• The sale was executed to cover tax withholding obligations associated with the settlement of restricted stock units.
• The shares were sold at a weighted average price of $1.55, with individual transactions ranging from $1.46 to $1.60.
• Following the transaction, Danis directly owns 1,036,023 shares of Rigetti Computing common stock.

Sentiment

Score: 5

Explanation: The document describes a routine stock sale by an executive for tax purposes, which is neither positive nor negative for the company's overall outlook.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a common practice across publicly traded companies.
• The sale of 5,982 shares is relatively small compared to the total holdings of 1,036,023 shares, suggesting it is a routine transaction rather than a significant divestment.
• Similar transactions are regularly reported by executives at other technology companies.

Stakeholder Impact

• The stock sale is unlikely to have a significant impact on shareholders as it is a small transaction by an executive to cover tax obligations.

Key Dates

Keywords

Rigetti Computing, Richard Danis, stock sale, Form 4, insider trading, tax obligations, restricted stock units