secwatch.observer — SEC 8-K summary
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Issuer:     Rigetti Computing, Inc. (RGTI)
CIK:        0001838359
Form:       8-K
Filed at:   2022-12-08T23:59:59+00:00
Accession:  0001193125-22-300553
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1838359/000119312522300553/0001193125-22-300553-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1838359/000119312522300553/d431423d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-300553

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