Rigetti Computing, Inc 8-K, filed Nov 8, 2024
Rigetti Computing, Inc. (RGTI)
About this 8-K
Rigetti Computing, Inc filed this 8-K on November 8, 2024, reporting on events of November 6, 2024.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT Pursuant
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On November 6, 2024, Rick Danis, General Counsel and Corporate Secretary of Rigetti Computing, Inc. (the “Company”), informed the Company of his intention to resign from such offices effective as of November 30, 2024 (the “Effective Date”).
On November 6, 2024, Mr. Danis entered into a transition services agreement with the Company, effective as of the Effective Date (the “Transition Agreement”). Pursuant to the Transition Agreement, Mr. Danis is expected to assist in the transition and provide consulting services to the Company relating to his former duties as General Counsel and Corporate Secretary through March 31, 2025 (the “Transition Period”). The Transition Agreement may be terminated by either party after December 31, 2024, upon fourteen (14) days’ prior written notice or extended upon mutual written agreement.
The restricted stock unit awards and stock options previously granted to Mr. Danis will remain outstanding and continue to vest in accordance with their existing schedules for the duration of the Transition Period and any extensions thereof, subject to the terms of the Company’s applicable equity plans. Further, Mr. Danis will remain eligible to receive an executive performance bonus for the year ending December 31, 2024, which will be pro-rated for the portion of the year he was employed by the Company. Mr. Danis must also continue to comply with the confidential information and invention assignment agreement previously entered into with the Company.
The foregoing description of the Transition Agreement is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Transition Agreement, a copy of which is attached as Exhibit 10.1 hereto and incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
| 10.1 | Transition Services Agreement, by and between Rick Danis and Rigetti Computing, Inc., dated as of November 6, 2024. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 8, 2024
| RIGETTI COMPUTING, INC. | ||
| By: | /s/ Jeffrey Bertelsen | |
| Jeffrey Bertelsen | ||
| Chief Financial Officer | ||
Exhibit 10.1
 | Rigetti Computing, Inc. 775 Heinz Avenue Berkeley CA 94710 |
November 6, 2024
Via E-mail
Rick Danis
rick@rigetti.com
Re: Transition Services
Dear Rick:
As discussed, following your resignation effective on November 30, 2024 or such other date as may be agreed by the parties (the “Effective Date”), you agree to provide consulting services (the “Services”) to assist in the transition of your former duties as General Counsel & Corporate Secretary for Rigetti Computing, Inc. (“Rigetti”). The term of the Services will begin on the Effective Date and continue until March 31, 2025 (the “Term”). After December 31, 2024, either party may terminate the Services upon 14 days prior written notice. The parties may extend the term of the Services upon mutual written agreement.
Your existing equity will remain outstanding and continue to vest for the duration of the Term and any extensions of the Term, subject to the terms of the applicable equity plans. In addition, you remain eligible and will be paid a pro-rata bonus for the 2024 executive performance bonus on the same terms as paid to the rest of the executive team (e.g., if the bonus is paid out to executives at 75%, you will receive 75% of your target bonus, which will be pro-rated based on the time employed during 2024 prior to your resignation).
You acknowledge and reaffirm your continuing obligations under your Confidential Information and Invention Assignment Agreement, a copy of which is attached hereto as Exhibit A and incorporated herein by reference, and under applicable policies and procedures of the Company.
| Sincerely, | |||
| RIGETTI COMPUTING, INC. | |||
| /s/ Jackie Kaweck | |||
| Jackie Kaweck | |||
| Agreed to and accepted: | |||
| Signature: | /s/ Rick Danis | ||
| Printed Name: | Rick Danis | ||
| Date: | November 6, 2024 | ||
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