Small ARQQ warrant sales by entity tied to Arqit Quantum (ARQQ) director

Rhea-AI Filing Summary

Arqit Quantum Inc. director-related entity sells small block of warrants

An entity associated with director Lefebvre d'Ovidio Manfredi, Heritage Assets SCSp, sold a total of 127 Business Combination Warrants in open-market transactions at $2.10 per warrant on May 13 and May 14, 2026. These derivative securities each have an exercise price of $11.50 and, after Arqit’s reverse stock split, entitle the holder to purchase 0.04 ordinary share, requiring 25 warrants for one whole share at an aggregate exercise price of $287.50 per share. Following these sales, the reporting person continues to beneficially own 612,413 Business Combination Warrants, equivalent to 24,496.52 ordinary shares if fully exercised.

Insights

Insider transactions analyst

Small open-market warrant sales by an associated entity appear routine in scale.

The filing shows two open-market sales totaling 127 Business Combination Warrants at $2.10 each by Heritage Assets SCSp, an entity through which director Lefebvre d'Ovidio Manfredi holds the position. These are derivative securities linked to Arqit Quantum ordinary shares.

Each warrant has an exercise price of $11.50 and, after the reverse stock split, represents 0.04 ordinary share, meaning 25 warrants are needed for one whole share at an aggregate $287.50. The footnote states the reporting person still beneficially owns 612,413 warrants, equivalent to 24,496.52 shares if fully exercised, indicating that only a small fraction of the position was sold.

With no indication of option exercises, tax-driven dispositions, or trading plans in the excerpt, these transactions read as straightforward open-market sales of a modest portion of a much larger derivative holding, and do not by themselves signal a major change in insider alignment.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Lefebvre d'Ovidio Manfredi

Role Director

Sold 127 shs ($266.70)

Type	Security	Shares	Price	Value
Sale	Business Combination Warrants (right to buy)	47	$2.10	$98.70
Sale	Business Combination Warrants (right to buy)	80	$2.10	$168.00

Holdings After Transaction: Business Combination Warrants (right to buy) — 49,040.08 shares (Indirect, Beneficially owned through Heritage Assets SCSp)

Footnotes (1)

1. F1. On September 19, 2024, Arqit Quantum Inc. (ARQQ) announced the implementation of a reverse stock split whereby every 25 outstanding ARQQ ordinary shares were consolidated into one ordinary share, par value $0.0025 per share. Each Business Combination Warrant has an exercise price of $11.50 and can be exercised at any time, at the holder's election, to purchase 0.04 of an ARQQ ordinary share on a post-reverse stock split basis, and cannot be exercised for fractional shares. Accordingly, on a post-reverse stock split basis holders of Business Combination Warrants are required to exercise at least 25 Business Combination Warrants in order to receive one whole ARQQ ordinary share at an aggregate exercise price of $287.50 per whole ARQQ ordinary share. The reporting person beneficially owns 612,413 Business Combination Warrants, which, if exercised in full, would be equivalent to 24,496.52 ARQQ ordinary shares on a post-reverse stock split basis.

Key Figures

Warrants sold May 13, 2026: 80 Business Combination Warrants at $2.10 Warrants sold May 14, 2026: 47 Business Combination Warrants at $2.10 Total warrants sold: 127 Business Combination Warrants +5 more

8 metrics

Warrants sold May 13, 2026 80 Business Combination Warrants at $2.10 Open-market sale by Heritage Assets SCSp on May 13, 2026

Warrants sold May 14, 2026 47 Business Combination Warrants at $2.10 Open-market sale by Heritage Assets SCSp on May 14, 2026

Total warrants sold 127 Business Combination Warrants Aggregate of two open-market sales reported in Form 4

Warrant exercise price $11.50 per warrant Exercise price for each Business Combination Warrant

Warrants required per share 25 warrants per ordinary share Post–reverse split requirement to receive one whole share

Aggregate exercise per share $287.50 per ordinary share Total exercise price for 25 warrants post–reverse split

Warrants beneficially owned 612,413 Business Combination Warrants Position beneficially owned, per footnote

Share equivalent if exercised 24,496.52 ordinary shares Ordinary share equivalent of all warrants on post-split basis

Key Terms

Business Combination Warrants, reverse stock split, beneficially owns, exercise price, +1 more

5 terms

Business Combination Warrants financial

"Each Business Combination Warrant has an exercise price of $11.50 and can be exercised at any time"

reverse stock split financial

"announced the implementation of a reverse stock split whereby every 25 outstanding ARQQ ordinary shares"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

beneficially owns financial

"The reporting person beneficially owns 612,413 Business Combination Warrants, which, if exercised in full"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

exercise price financial

"Each Business Combination Warrant has an exercise price of $11.50 and can be exercised at any time"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

ordinary shares financial

"would be equivalent to 24,496.52 ARQQ ordinary shares on a post-reverse stock split basis"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

FAQ

What insider transactions did Arqit Quantum Inc. (ARQQ) report in this Form 4?

The filing reports two open-market sales totaling 127 Business Combination Warrants at $2.10 each. These derivative securities are linked to Arqit Quantum ordinary shares and were sold on May 13 and May 14, 2026, by Heritage Assets SCSp, an entity associated with director Lefebvre d'Ovidio Manfredi.

Who executed the warrant sales related to ARQQ and how are they held?

The warrants are beneficially owned through Heritage Assets SCSp, associated with director Lefebvre d'Ovidio Manfredi. The Form 4 classifies ownership as indirect, with the nature of ownership described as beneficially owned through Heritage Assets SCSp rather than directly in the director’s personal name.

What are the key terms of Arqit Quantum’s Business Combination Warrants mentioned in the Form 4?

Each Business Combination Warrant has an exercise price of $11.50 and is tied to ARQQ ordinary shares. After the reverse stock split, each warrant represents 0.04 ordinary share, requiring 25 warrants to receive one whole share at a total exercise price of $287.50 per share.

How large is the remaining warrant position after these ARQQ insider sales?

The reporting person beneficially owns 612,413 Business Combination Warrants after the reported sales. According to the footnote, if these warrants were exercised in full, they would be equivalent to 24,496.52 Arqit Quantum ordinary shares on a post–reverse stock split basis.

How does Arqit Quantum’s reverse stock split affect these Business Combination Warrants?

The reverse stock split changed each warrant’s underlying share amount to 0.04 ordinary share. Arqit consolidated every 25 ordinary shares into one, so holders must now exercise at least 25 warrants to receive a single whole ordinary share, at $287.50 aggregate exercise price.

What transaction code and pricing were reported for the ARQQ warrant sales?

Both transactions used code “S”, indicating open-market or private sales, at $2.10 per warrant. One sale covered 80 Business Combination Warrants on May 13, 2026, and the other covered 47 warrants on May 14, 2026, all held indirectly through Heritage Assets SCSp.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 05/15/2026 - 04:05 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lefebvre d'Ovidio Manfredi

(Last) (First) (Middle)

3 ORCHARD PLACE

(Street)

LONDON SW1H 0BF

(City) (State) (Zip)

UNITED KINGDOM

(Country)

2. Issuer Name and Ticker or Trading Symbol
Arqit Quantum Inc. [ ARQQ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Business Combination Warrants (right to buy)	(1)	05/13/2026		S			80	(1)	09/03/2026	Ordinary Shares	80	$2.1	24,543.56	I	Beneficially owned through Heritage Assets SCSp
Business Combination Warrants (right to buy)	(1)	05/14/2026		S			47	(1)	09/03/2026	Ordinary Shares	47	$2.1	24,496.52	I	Beneficially owned through Heritage Assets SCSp

Explanation of Responses:

1. On September 19, 2024, Arqit Quantum Inc. (ARQQ) announced the implementation of a reverse stock split whereby every 25 outstanding ARQQ ordinary shares were consolidated into one ordinary share, par value $0.0025 per share. Each Business Combination Warrant has an exercise price of $11.50 and can be exercised at any time, at the holder's election, to purchase 0.04 of an ARQQ ordinary share on a post-reverse stock split basis, and cannot be exercised for fractional shares. Accordingly, on a post-reverse stock split basis holders of Business Combination Warrants are required to exercise at least 25 Business Combination Warrants in order to receive one whole ARQQ ordinary share at an aggregate exercise price of $287.50 per whole ARQQ ordinary share. The reporting person beneficially owns 612,413 Business Combination Warrants, which, if exercised in full, would be equivalent to 24,496.52 ARQQ ordinary shares on a post-reverse stock split basis.

Remarks:

Due to the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b) under the Securities Exchange Act of 1934 (the "Act"), the reporting person's transactions in the issuer's securities are exempt from Sections 16(b) and 16(c) of the Act.

	/s/ Amir Heyat, as Attorney-in-Fact	05/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)