Rigetti Director Sells 62,000 Shares Worth $2.8 Million

On October 17, 2025, Rigetti Computing (NASDAQ:RGTI) Director Gail Sandford executed an open-market sale of 62,000 shares of the stock; see this SEC Form 4 filing for details.

Transaction summary

Transaction value based on the SEC Form 4 weighted average purchase price of $44.89 per share.

Key questions

How significant was this sale relative to Gail Sandford's direct holdings?
The sale represented 34.0% of direct shares held immediately prior to the transaction on 2025-10-17, reducing direct ownership to 120,371 shares, or approximately 0.04% of outstanding shares on October 17, 2025.

Does the transaction size align with the insider's historical selling patterns?
This 62,000-share sale on 2025-10-17 exceeds the median (25,000 shares) of prior individual sell transactions by Gail Sandford. The previous maximum was 43,200 shares on 2024-09-17, indicating an unusually large disposition relative to past activity.

What was the market context on the transaction date?
Shares were priced at approximately $44.89 for the sale on 2025-10-17. with Rigetti posting a 4,777.0% one-year total return.

Was the sale executed under a prearranged trading plan?
Yes. Sandford adopted this Rule 10b5-1 trading plan on June 12, 2025.

Company overview

* 1-year performance calculated using October 17, 2025 as the reference date (calendar year basis, not fiscal year).

Company snapshot

Rigetti develops and operates quantum computers and superconducting quantum processors, with integration into cloud platforms via its Quantum Cloud Services.

It generates revenue primarily from quantum computing access and cloud-based quantum services.

The company offers quantum computing systems accessible via cloud platforms.

Rigetti builds scalable quantum hardware and delivers cloud-based quantum solutions. With a specialized workforce and robust technology platform, the company develops quantum computers with cloud integration. Rigetti's integrated approach and cloud connectivity enable organizations to access next-generation computing power.

Foolish take

Gail Sandford and other independent Rigetti directors received $140,000 of restricted stock in 2024, and another $140,000 of stock-based compensation in 2023.

The value of older stock awards has been skyrocketing recently, and Ms. Sandford is capitalizing on that surge. She has more than doubled the number of shares to sell per quarter, compared to last year's trading plan.

Sandford will reassess her trading plan again next summer. The accelerated selling looks smart to me because I don't expect Rigetti's stock to maintain this lofty valuation in the long run.

Glossary

Open-market sale: When an insider sells company shares on a public stock exchange, not through a private transaction.
Director: A member of a company's board responsible for overseeing management and major decisions.
Insider: An individual with access to non-public, material information about a company, often executives or directors.
Form 4: A required SEC filing disclosing insider transactions in a company's securities.
Weighted average purchase price: The average price paid per share, weighted by the number of shares in each transaction.
Outstanding shares: Total shares of a company currently held by all shareholders, including insiders and the public.
Prearranged trading plan: A written plan allowing insiders to sell shares at predetermined times, often under SEC Rule 10b5-1.
Disposition: The act of selling or otherwise transferring ownership of an asset, such as company shares.
Quantum processor: A specialized chip that uses quantum mechanics to perform computations beyond classical computers.
Cloud platform: An online service providing access to computing resources, storage, or applications over the internet.
Quantum Cloud Services: Cloud-based access to quantum computing resources and tools, typically offered by quantum technology companies.
TTM: The 12-month period ending with the most recent quarterly report.