Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-22

Rigetti Computing (RGTI)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$1,957,402
David Rivas total, FY2025
Chief Technology Officerhighest-paid officer; CEO Subodh Kulkarni: $636,222
CEO (Subodh Kulkarni) pay percentile vs peers
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against RGTI
3 companies name RGTI as a compensation peer

Each company listed discloses RGTI in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named RGTI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
David Rivas$374,928$0$1,582,000$0$0$0$474$1,957,402
Chief Technology Officer
Jeffrey Bertelsen326,02501,582,0000004741,908,499
Chief Financial Officer
Subodh Kulkarni635,74800000474636,222
President and Chief Executive Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
David Rivas$1,957,402$1,513,355$788,736+444,047
Jeffrey Bertelsen1,908,4991,300,886+607,613
Subodh Kulkarni636,2222,261,2112,066,690−1,624,989

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Michael CliftonDirector2026-05-21D50,000$10$500,000Derivative, Class A CommonForm 4 ↗
Jeffrey BertelsenCHIEF FINANCIAL OFFICER2026-05-22D1326333CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-22D3026769CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-22D18,72923429,874CommonForm 4 ↗
Jeffrey BertelsenCHIEF FINANCIAL OFFICER2026-05-22D3,6692384,156CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D111,11100Derivative, Class A CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28A70,000167,466CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28A33,490147,221CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D43,190261,132,839CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D61,000241,487,064CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28A111,1111116,667CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D70,00000Derivative, Class A CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D33,49000Derivative, Class A CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29A75,131020,436CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29A33,05308,990CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29A3,5410963CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D499,3282512,680,934CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D33,05300Derivative, Class A CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D3,54100Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-05-293931 insider, 1 accrual row
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29A3930107CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D75,13100Derivative, Class A CommonForm 4 ↗
Michael CliftonDirector2026-06-02D3,1441650,304Derivative, Class A CommonForm 4 ↗
Michael CliftonDirector2026-06-02D54,01216864,192Derivative, Class A CommonForm 4 ↗
Ray JohnsonDirector2026-06-08A9,20800RSUForm 4 ↗
Ray JohnsonDirector2026-06-08D116,217212,472,889CommonForm 4 ↗
Ray JohnsonDirector2026-06-08D5,97122129,953CommonForm 4 ↗
Michael CliftonDirector2026-06-09A9,20800RSUForm 4 ↗
Alissa M. FitzgeraldDirector2026-06-09A9,20800RSUForm 4 ↗
Thomas J. IannottiDirector2026-06-09A9,20800RSUForm 4 ↗
Michael CliftonDirector2026-06-12D4,3611147,560Derivative, Class A CommonForm 4 ↗
Michael CliftonDirector2026-06-12D94,733121,136,796Derivative, Class A CommonForm 4 ↗
Ray JohnsonDirector2026-06-22D84,944211,745,242CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 33 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Michael CliftonDirector2026-05-21D50,000$10$500,000Derivative, Class A CommonForm 4 ↗
Jeffrey BertelsenCHIEF FINANCIAL OFFICER2026-05-22D1326333CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-22D3026769CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-22D18,72923429,874CommonForm 4 ↗
Jeffrey BertelsenCHIEF FINANCIAL OFFICER2026-05-22D3,6692384,156CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D111,11100Derivative, Class A CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28A70,000167,466CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28A33,490147,221CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D43,190261,132,839CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D61,000241,487,064CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28A111,1111116,667CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D70,00000Derivative, Class A CommonForm 4 ↗
Subodh KulkarniDirector2026-05-28D33,49000Derivative, Class A CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29A75,131020,436CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29A33,05308,990CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29A3,5410963CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D499,3282512,680,934CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D33,05300Derivative, Class A CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D3,54100Derivative, Class A CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D39300Derivative, Class A CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29A3930107CommonForm 4 ↗
David RivasCHIEF TECHNOLOGY OFFICER2026-05-29D75,13100Derivative, Class A CommonForm 4 ↗
Michael CliftonDirector2026-06-02D3,1441650,304Derivative, Class A CommonForm 4 ↗
Michael CliftonDirector2026-06-02D54,01216864,192Derivative, Class A CommonForm 4 ↗
Ray JohnsonDirector2026-06-08A9,20800RSUForm 4 ↗
Ray JohnsonDirector2026-06-08D116,217212,472,889CommonForm 4 ↗
Ray JohnsonDirector2026-06-08D5,97122129,953CommonForm 4 ↗
Michael CliftonDirector2026-06-09A9,20800RSUForm 4 ↗
Alissa M. FitzgeraldDirector2026-06-09A9,20800RSUForm 4 ↗
Thomas J. IannottiDirector2026-06-09A9,20800RSUForm 4 ↗
Michael CliftonDirector2026-06-12D4,3611147,560Derivative, Class A CommonForm 4 ↗
Michael CliftonDirector2026-06-12D94,733121,136,796Derivative, Class A CommonForm 4 ↗
Ray JohnsonDirector2026-06-22D84,944211,745,242CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
David RivasRSU$1,582,000
Jeffrey BertelsenRSU1,582,000
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
David Rivas$1,582,000$0$00.0%
Jeffrey Bertelsen1,582,000000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
David RivasRSU62,500$1,384,375
David RivasRSU1,98844,034
David RivasRSU1,08123,944
Subodh KulkarniOption638,8901.41
Subodh KulkarniOption305,5561.05
Jeffrey BertelsenOption281,2512.03
Jeffrey BertelsenOption145,8340.6
David RivasRSU2,77361,422
David RivasRSU162,5003,599,375
Jeffrey BertelsenRSU162,5003,599,375
05

Incentive-plan design — the Compensation Discussion & Analysis

Base salaries for our named executive officers have generally been set at levels necessary to attract and retain individuals with superior talent.

CEO STI target (% of salary)50%
CEO LTI target (% of salary)
Independent consultantCompensia
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Thomas J. IannottiIndependent · Board Chair · Compensation · Nominating/Governance$112,000$167,498$0$0$0$279,498
Michael CliftonIndependent · Audit (Chair) · Nominating/Governance60,777167,498000228,275
H. Gail SandfordIndependent · Audit · Nominating/Governance (Chair) · Not standing for re-election58,275167,498000225,773
Ray JohnsonIndependent · Audit · Compensation (Chair)54,650167,498000222,148
Alissa M. FitzgeraldIndependent · Audit · Compensation54,613167,498000222,111
Cathy McCarthyIndependent · Audit · Departed during FY25,038000025,038
Subodh KulkarniEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$40,000
Annual equity retainer$167,500
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$365,353
Equity awards (grant-date value)$837,490
All other compensation$0
Total cost of the board$1,202,843

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Rigetti Computing2025Subodh Kulkarni$635,748$0$0$0$636,222

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, David RivasDEF 14A2026-04-240001104659-26-048555Section “Summary Compensation Table”. As printed: 1,957,402. Filing ↗machine: t6 · r3 · c47 · span 274836–274845
2Section 01, Jeffrey BertelsenDEF 14A2026-04-240001104659-26-048555Section “Summary Compensation Table”. As printed: 1,908,499. Filing ↗machine: t6 · r5 · c47 · span 285109–285118
3Section 01, Subodh KulkarniDEF 14A2026-04-240001104659-26-048555Section “Summary Compensation Table”. As printed: 636,222. Filing ↗machine: t6 · r1 · c47 · span 264532–264539
4Section 03, David Rivas RSUDEF 14A2026-04-240001104659-26-048555Section “EXECUTIVE AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t6 · r3 · c23 · span 272328–272337
5Section 03, Jeffrey Bertelsen RSUDEF 14A2026-04-240001104659-26-048555Section “EXECUTIVE AND DIRECTOR COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t6 · r5 · c23 · span 282601–282610
6Section 07, pay ratio10-K2026-03-040001104659-26-023454Section “CEO Pay Ratio”. As printed: —. Filing ↗
7Section 08, Thomas J. IannottiDEF 14A2026-04-240001104659-26-048555Section “Director Compensation”. As printed: 279,498. Filing ↗machine: t9 · r1 · c9 · span 481909–481916
8Section 08, Michael CliftonDEF 14A2026-04-240001104659-26-048555Section “Director Compensation”. As printed: 228,275. Filing ↗machine: t9 · r6 · c9 · span 490067–490074
9Section 08, H. Gail SandfordDEF 14A2026-04-240001104659-26-048555Section “Director Compensation”. As printed: 225,773. Filing ↗machine: t9 · r5 · c9 · span 488523–488530
10Section 08, Ray JohnsonDEF 14A2026-04-240001104659-26-048555Section “Director Compensation”. As printed: 222,148. Filing ↗machine: t9 · r3 · c9 · span 485169–485176
11Section 08, Alissa M. FitzgeraldDEF 14A2026-04-240001104659-26-048555Section “Director Compensation”. As printed: 222,111. Filing ↗machine: t9 · r2 · c9 · span 483458–483465
12Section 08, Cathy McCarthyDEF 14A2026-04-240001104659-26-048555Section “Director Compensation”. As printed: 25,038. Filing ↗machine: t9 · r4 · c3 · span 486125–486131
13Section 08, Subodh KulkarniDEF 14A2026-04-240001104659-26-048555Section “Director Compensation”. As printed: 0. Filing ↗
14Section 02, Michael Clifton 2026-05-21Form 42026-05-220001123292-26-000720Insider equity transaction reported since the proxy statement. Filing ↗
15Section 02, Jeffrey Bertelsen 2026-05-22Form 42026-05-260001123292-26-000745Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, David Rivas 2026-05-22Form 42026-05-260001123292-26-000744Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, David Rivas 2026-05-22Form 42026-05-260001123292-26-000744Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Jeffrey Bertelsen 2026-05-22Form 42026-05-260001123292-26-000745Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Subodh Kulkarni 2026-05-28Form 42026-06-010001123292-26-000776Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Subodh Kulkarni 2026-05-28Form 42026-06-010001123292-26-000776Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Subodh Kulkarni 2026-05-28Form 42026-06-010001123292-26-000776Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Subodh Kulkarni 2026-05-28Form 42026-06-010001123292-26-000776Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Subodh Kulkarni 2026-05-28Form 42026-06-010001123292-26-000776Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Subodh Kulkarni 2026-05-28Form 42026-06-010001123292-26-000776Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Subodh Kulkarni 2026-05-28Form 42026-06-010001123292-26-000776Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Subodh Kulkarni 2026-05-28Form 42026-06-010001123292-26-000776Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, David Rivas 2026-05-29Form 42026-06-010001123292-26-000777Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Michael Clifton 2026-06-02Form 42026-06-030001123292-26-000801Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Michael Clifton 2026-06-02Form 42026-06-030001123292-26-000801Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Ray Johnson 2026-06-08Form 42026-06-100001123292-26-000852Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Ray Johnson 2026-06-08Form 42026-06-100001123292-26-000852Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Ray Johnson 2026-06-08Form 42026-06-100001123292-26-000852Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Michael Clifton 2026-06-09Form 42026-06-100001123292-26-000853Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Alissa M. Fitzgerald 2026-06-09Form 42026-06-100001123292-26-000855Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Thomas J. Iannotti 2026-06-09Form 42026-06-100001123292-26-000854Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Michael Clifton 2026-06-12Form 42026-06-160001123292-26-000874Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Michael Clifton 2026-06-12Form 42026-06-160001123292-26-000874Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Ray Johnson 2026-06-22Form 42026-06-220001123292-26-000916Insider equity transaction reported since the proxy statement. Filing ↗
47Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
48Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
49Section 09b board cost (computed)ComputedcomputedCash 365,353 + equity 837,490 + all other 0 = 1,202,843, summed across the director compensation table rows.machine: formula: Σ = 1,202,843
50Rigetti Computing (subject), Section 10b CEO totalDEF 14A2026-04-240001104659-26-048555CEO total compensation as printed in Rigetti Computing's own proxy. As printed: 636,222. Filing ↗machine: t6 · r1 · c47 · span 264532–264539