8-K filed December 8, 2022, 6:59 PM ET ticker RGTI CIK 0001838359

leadership confidence high sentiment neutral materiality 0.65

Rigetti appoints Subodh Kulkarni as CEO; founder Chad Rigetti departs board Dec 15

Rigetti Computing, Inc.

Subodh Kulkarni becomes President & CEO effective Dec 12, 2022; interim CEO Rick Danis returns to General Counsel role.
Kulkarni receives $585K base salary, discretionary target bonus of $290K, and 1.25M share initial option plus 500K performance options.
Performance options vest if RGTI stock closes at $5 (250K shares) or $10 (250K shares) for 20 of 30 trading days within 5 years.
Severance includes 24 months base salary, 2x target bonus, COBRA, and equity acceleration; enhanced on change of control.
Kulkarni will join the board after Rigetti's departure on Dec 15; he previously led CyberOptics until its Nordson acquisition.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Subodh Kulkarni

Director

RGTI · Rigetti Computing, Inc.

Filed: December 8, 2022, 6:59 PM ET

It is expected that Dr. Kulkarni will be appointed to the Company’s Board of Directors following Dr. Chad Rigetti’s previously announced departure date from the Company’s Board of Directors on December 15, 2022.

Appointed

Subodh Kulkarni

President and Chief Executive Officer

RGTI · Rigetti Computing, Inc.

Effective: 2022-12-12
Filed: December 8, 2022, 6:59 PM ET

Dr. Subodh Kulkarni was appointed as President and Chief Executive Officer (principal executive officer) of Rigetti Computing, Inc. (the “Company”), effective as of December 12, 2022

Departed

Chad Rigetti

Director

RGTI · Rigetti Computing, Inc.

Effective: 2022-12-15
Successor: Subodh Kulkarni
Filed: December 8, 2022, 6:59 PM ET

Dr. Chad Rigetti’s previously announced departure date from the Company’s Board of Directors on December 15, 2022.

Role change

Rick Danis

General Counsel and Corporate Secretary

RGTI · Rigetti Computing, Inc.

Effective: 2022-12-12
Successor: Subodh Kulkarni
Filed: December 8, 2022, 6:59 PM ET

Mr. Rick Danis, the Company’s Interim President and Chief Executive Officer, will step down from such position and will continue with the Company in his role as the Company’s General Counsel and Corporate Secretary.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.9

Subodh Kulkarni was appointed as Director at Rigetti Computing, Inc..

Action: will be appointed
Role: Director

Exact text from the filing

It is expected that Dr. Kulkarni will be appointed to the Company’s Board of Directors following Dr. Chad Rigetti’s previously announced departure date from the Company’s Board of Directors on December 15, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Subodh Kulkarni was appointed as President and Chief Executive Officer at Rigetti Computing, Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

Dr. Subodh Kulkarni was appointed as President and Chief Executive Officer (principal executive officer) of Rigetti Computing, Inc. (the “Company”), effective as of December 12, 2022

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Chad Rigetti departed as Director at Rigetti Computing, Inc..

Action: departed
Role: Director

Exact text from the filing

Dr. Chad Rigetti’s previously announced departure date from the Company’s Board of Directors on December 15, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Rick Danis changed role as General Counsel and Corporate Secretary at Rigetti Computing, Inc..

Action: stepped down as Interim President and CEO and will continue as General Counsel
Role: General Counsel and Corporate Secretary

Exact text from the filing

Mr. Rick Danis, the Company’s Interim President and Chief Executive Officer, will step down from such position and will continue with the Company in his role as the Company’s General Counsel and Corporate Secretary.

View on SEC.gov

Rigetti Computing, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-300553

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