Who carried out the warrant sales related to Arqit Quantum Inc. (ARQQ)?

The transactions are attributed to Heritage Assets SCSp, which beneficially owns the warrants. The reporting person is director Lefebvre d'Ovidio Manfredi, who reports indirect ownership through this entity, rather than direct personal holdings in the traded warrants.

Director-linked entity trims Arqit (ARQQ) warrant stake with small open-market sales

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Arqit Quantum Inc. director-linked entity sells Business Combination Warrants. An entity associated with director Lefebvre d'Ovidio Manfredi, Heritage Assets SCSp, made two open-market sales of Arqit Business Combination Warrants. It sold 110 warrants at $2.0000 per warrant on May 15, 2026 and 106 warrants at $2.0000 per warrant on May 18, 2026, totaling 216 warrants.

Each warrant has an exercise price of $11.50 and can be exercised to purchase 0.04 Arqit ordinary shares after a 25-for-1 reverse stock split. After these sales, the reporting person beneficially owns 607,006 warrants, equivalent to 24,280.24 Arqit ordinary shares on a post-reverse-split basis, so the sales represent a small portion of the overall warrant position.

Insider Trade Summary

Net Seller: 216 shares ($432)

Net Sell 2 txns

Insider Lefebvre d'Ovidio Manfredi

Role null

Sold 216 shs ($432.00)

Type	Security	Shares	Price	Value
Sale	Business Combination Warrants (right to buy)	106	$2.00	$212.00
Sale	Business Combination Warrants (right to buy)	110	$2.00	$220.00

Holdings After Transaction: Business Combination Warrants (right to buy) — 24,280.24 shares (Indirect, Beneficially owned through Heritage Assets SCSp)

Footnotes (1)

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Key Figures

Warrants sold May 15, 2026: 110 warrants at $2.0000 Warrants sold May 18, 2026: 106 warrants at $2.0000 Total warrants sold: 216 warrants +4 more

7 metrics

Warrants sold May 15, 2026 110 warrants at $2.0000 Open-market sale on May 15, 2026

Warrants sold May 18, 2026 106 warrants at $2.0000 Open-market sale on May 18, 2026

Total warrants sold 216 warrants Net-sell across two transactions

Exercise price per warrant $11.50 Business Combination Warrant exercise price

Warrants beneficially owned 607,006 warrants Position after reverse stock split, if exercised in full

Ordinary share equivalent 24,280.24 shares Ordinary shares if all 607,006 warrants exercised

Reverse split ratio 25-for-1 ARQQ ordinary shares reverse stock split

Key Terms

Business Combination Warrants, reverse stock split, beneficially owns, open-market sale, +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 were consolidated"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

beneficially owns financial

"The reporting person beneficially owns 607,006 Business Combination Warrants, which, if exercised in full, would be equivalent"

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.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

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.

Form 4 Insider Transactions: What Each Field Means →

05/19/2026 - 04:05 PM

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)
05/15/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Business Combination Warrants (right to buy)	⁽¹⁾	05/15/2026		S			110	⁽¹⁾	09/03/2026	Ordinary Shares	110	$2	24,386.56	I	Beneficially owned through Heritage Assets SCSp
Business Combination Warrants (right to buy)	⁽¹⁾	05/18/2026		S			106	⁽¹⁾	09/03/2026	Ordinary Shares	106	$2	24,280.24	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 607,006 Business Combination Warrants, which, if exercised in full, would be equivalent to 24,280.24 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	05/19/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

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

The filing reports two open-market sales of Business Combination Warrants by an entity associated with a director, totaling 216 warrants sold at $2.0000 per warrant on May 15 and May 18, 2026.

How many Arqit (ARQQ) Business Combination Warrants were sold and at what price?

Heritage Assets SCSp sold 110 Business Combination Warrants on May 15, 2026 and 106 on May 18, 2026, for a total of 216 warrants, each at a transaction price of $2.0000 per warrant in open-market sales.

What does each Arqit (ARQQ) Business Combination Warrant entitle the holder to buy?

Each Business Combination Warrant has an exercise price of $11.50 and can be exercised to purchase 0.04 of an Arqit ordinary share on a post-reverse-stock-split basis, and cannot be exercised for fractional shares according to the footnote description.

How did Arqit’s reverse stock split affect its Business Combination Warrants?

Arqit implemented a 25-for-1 reverse stock split of its ordinary shares. After this, each Business Combination Warrant became exercisable for 0.04 of a post-split ordinary share, meaning at least 25 warrants must be exercised together to receive one whole ordinary share.

What is the remaining Arqit (ARQQ) warrant position for the reporting person after these sales?

After the reported transactions, the reporting person beneficially owns 607,006 Business Combination Warrants. If exercised in full on a post-reverse-split basis, these warrants would be equivalent to 24,280.24 Arqit ordinary shares, according to the footnote disclosure.