Subodh K. Kulkarni, President and CEO of Rigetti Computing, Inc. (NASDAQ:RGTI), filed a Form 4 on September 10, 2026, disclosing the exercise of stock options and a subsequent sale of common stock on September 9, 2026, both executed under a Rule 10b5-1 trading plan.

Key Highlights

  • Option exercise: Kulkarni exercised 150,000 employee stock options at an exercise price of $0.9638 per share on September 9, 2026.
  • Shares sold: 120,000 shares of common stock were disposed of at a weighted average price of $15.6842, with individual transaction prices ranging from $15.595 to $15.80.
  • Remaining ownership: Following the transactions, Kulkarni directly held 140,411 shares of common stock.
  • Remaining options: 100,000 employee stock options (exercise price $0.9638, expiring December 11, 2032) remain beneficially owned directly, with those options fully vested and exercisable.
  • Trading plan: Both transactions were made pursuant to a Rule 10b5-1 trading plan adopted by Kulkarni on June 10, 2026.

Details of Kulkarni's September 2026 Option Exercise and Stock Sale at Rigetti Computing

According to the filing, Kulkarni executed two transactions on September 9, 2026, both under a Rule 10b5-1 trading plan he adopted on June 10, 2026. In the first transaction, coded "M," he acquired 150,000 shares of common stock through the exercise of fully vested employee stock options at a conversion price of $0.9638 per share. Immediately following that exercise, according to the filing, his direct beneficial ownership stood at 260,411 shares.

The second transaction, coded "S," involved the disposal of 120,000 shares. The filing reports a weighted average sale price of $15.6842, noting that these shares "were sold in multiple transactions at prices ranging from $15.595 to $15.80, inclusive." The filing further states that Kulkarni "undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range." After this sale, his directly held common stock position was reported as 140,411 shares.

In Table II, the filing shows that 100,000 employee stock options at the same $0.9638 exercise price, expiring December 12, 2032, remain directly held and are described as "fully vested and exercisable." The Form 4 was signed by Jeffrey Bertelsen as Attorney-in-Fact and filed on September 10, 2026. Kulkarni is identified in the filing as both a Director and the President and CEO of Rigetti Computing, Inc.

What Was Disclosed

The filing reports that Rigetti Computing's President and CEO exercised 150,000 stock options and sold 120,000 shares on September 9, 2026, under a pre-established Rule 10b5-1 plan, leaving him with 140,411 directly held common shares and 100,000 remaining stock options.