Rigetti Computing, Inc. (NASDAQ: RGTI) Director Ray O Johnson has executed a substantial divestment of company equity, selling a total of 122,188 shares of common stock. According to filings submitted to the Securities and Exchange Commission, the transaction generated proceeds totaling $2,602,841. The sales were executed on June 8, 2026, with the shares changing hands at prices varying between $20.725 and $21.82 per share.
The timing of this sale is governed by a Rule 10b5-1 trading plan that Mr. Johnson initially adopted on March 12, 2025. This automated trading arrangement was subsequently modified on March 9, 2026, establishing the parameters for the recent transaction. The execution of these sales occurs against a backdrop of notable price movement in Rigetti’s equity. Over the week preceding the transaction, the stock experienced an 18% decline, bringing its price to $19.69. Despite this recent volatility, the shares have demonstrated substantial growth over a longer horizon, rising 75% over the past year.
Separate from the divestment, corporate governance activities continued for Mr. Johnson. On June 9, 2026, the director was granted 9,208 restricted stock units (RSUs) in recognition of his service. These RSUs are subject to a vesting schedule that requires continuous service as a director. The full vesting of these units is contingent upon the earlier of two dates: the date of Rigetti’s 2027 annual meeting of stockholders or June 9, 2027. Following the completion of his sales, Mr. Johnson’s direct holdings in Rigetti Computing common stock stand at 180,481 shares.
Concurrent with these insider transactions, Rigetti Computing has highlighted significant operational and financial developments. The company announced the signing of a letter of intent to secure up to $100 million in funding from the U.S. Department of Commerce. This capital allocation is designated under the CHIPS Act and is specifically earmarked to support the company’s superconducting quantum computing research and development efforts. As part of the agreement, the Department of Commerce is expected to receive an equity stake in Rigetti that corresponds to the total funding amount provided.
Financial performance metrics also reflect positive momentum. Rigetti’s first-quarter fiscal 2026 revenue surpassed Wall Street estimates, a result driven by multiple system sales. Additionally, the company announced the general availability of its Cepheus 1-108Q system. This hardware is accessible through multiple cloud platforms, including Rigetti QCS, Amazon Braket, Microsoft Azure Quantum, and qBraid. Market analysts have responded to these developments with optimistic outlooks. Cantor Fitzgerald reiterated an Overweight rating with a $30 price target, citing the early commercialization stages of Rigetti’s technology. Craig-Hallum maintained a Buy rating, noting the anticipated success of Rigetti’s adiabatic gate approach. Need also echoed a Buy rating with a $31 price target following the company’s strong quarterly performance.