Rigetti Computing CEO Sells 120,000 Shares for $1.9 Million After Signing an Agreement with the U.S. Government
Key Points
The executive sold 120,000 shares at $15.68 per share on September 9, 2026, for a total transaction value of approximately $1.9 million.
Rigetti announced a definitive agreement with the U.S. Department of Commerce for federal funding the day before the CEO's stock sale.
The reporting person maintains 140,411 shares in direct ownership and also holds ~100,000 derivative securities.
Subodh K. Kulkarni, President and Chief Executive Officer of Rigetti Computing, Inc. (NASDAQ:RGTI), sold 120,000 shares of common stock on September 9, 2026, for approximately $1.9 million, according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Transaction value | $1.9 million |
| Shares sold (directly held) | 120,000 |
| Post-transaction shares (directly held) | 140,411 |
| Post-transaction value | $2.14 million |
Transaction value based on SEC Form 4 weighted average sale price ($15.68); post-transaction value based on September 09, 2026 market close ($15.24).
Key questions
- What prompted this disposition of common stock?
Subodh K. Kulkarni exercised 150,000 options at $0.96 per share and subsequently sold 120,000 shares. This resulted in a net increase of 30,000 shares to his direct equity position, which now totals 140,411 shares valued at $2.14 million as of the September 9, 2026 market close. - How is the transaction structured in relation to regulatory trading plans?
The sale was conducted under a Rule 10b5-1 trading plan adopted on June 10, 2026. These plans allow corporate insiders to establish predetermined trade schedules, providing a structured mechanism for liquidity that is decoupled from immediate market fluctuations or non-public developments. - What remains of the executive's derivative compensation following this filing?
After exercising 150,000 options, the CEO continues to hold 100,000 derivative securities. This remaining balance, alongside the direct equity stake, ensures continued alignment with long-term performance objectives. - How does the execution price compare to the company's market performance?
The 120,000 shares were sold at a weighted average price of $15.68, while the stock closed at $15.24 on the transaction date. This activity occurred while Rigetti Computing shares had produced a one-year return of -8% as of the September 9, 2026 market close.
Company Overview
| Metric | Value |
|---|---|
| Share Price (as of market close 2026-09-10) | $15.16 |
| Market Capitalization | $5.0 billion |
| Revenue (TTM) | $13.4 million |
| Net Income (TTM) | -$238.7 million |
Company Snapshot
- Rigetti Computing develops and manufactures full-stack quantum computing systems, specifically superconducting quantum processors, and provides access to these machines through its Quantum Cloud Services platform across public, private, and hybrid cloud environments.
- The company generates revenue through quantum computing hardware sales and cloud-based quantum computing services, positioning itself as a vertically integrated provider of quantum computing solutions.
- Rigetti serves enterprise customers, research institutions, and technology partners seeking to access quantum computing capabilities for computational research, algorithm development, and emerging quantum applications.
Rigetti Computing operates as a full-stack quantum computing enterprise with a market cap of $5 billion, leveraging its proprietary superconducting quantum processor technology and cloud delivery model to address the nascent but rapidly expanding quantum computing market.
The company's integrated approach -- combining hardware manufacturing with accessible cloud services -- positions it to capture value across the quantum computing value chain. With headquarters in Berkeley, California, Rigetti maintains a focused organizational structure dedicated to advancing quantum processor performance and expanding enterprise adoption of quantum computing solutions.
What this transaction means for investors
CEO Subodh Kulkarni's Sept. 9 sale of Rigetti Computing stock occurred a day after the company announced the signing of a definitive agreement with the U.S. Department of Commerce for $100 million in federal funding. The timing appears coincidental, since the executive's disposition was a non-discretionary transaction executed as part of a pre-established Rule 10b5-1 plan.
Kulkarni's disposal involved the exercise of 150,000 stock options and immediate sale of 120,000 of the resulting shares. This is a typical move made by insiders as part of routine liquidity management, since executives often own a lot of shares in their company.
Rigetti Computing's acceptance of federal funds is important. It signals that the company's quantum computer technology is compelling enough to attract the government's investment.
Moreover, from a practical perspective, the money provides Rigetti with a large infusion of cash. The company reported only $5.1 million in second-quarter revenue, yet suffered a net loss of $52.6 million. Constructing cutting-edge quantum tech is not cheap.
Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.