Yuping Huang - 14 Oct 2022 Form 4 Insider Report for Quantum Computing Inc. (QUBT)

Role: Chief Quantum Officer, Director, 10%+ Owner
Signature: /s/ Yuping Huang
Issuer symbol: QUBT
Transactions as of: 14 Oct 2022
Net transactions value: $0
Form type: 4
Filing time: 18 Oct 2022, 12:13:18 UTC
Previous filing: 27 Jun 2022
Next filing: 05 Apr 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	QUBT	Common Stock	Award		+19,253,920	+410%		23,953,706	17 Oct 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	QUBT	Options to Purchase Shares of Common Stock	Options Exercise	$0	+400,000		$0.000000	400,000	14 Oct 2022	Common Stock	400,000	$2.37	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Acquired as a result of the conversion of 1,925,392 shares of Series B Preferred Stock on October 17, 2022.
F2	The stock options (the "Options") were issued to Dr. Huang on October 14, 2022 (the "Date of Grant"), pursuant to the 2019 Quantum Computing Inc. Equity and Incentive Plan and according to the terms of the employment agreement by and between Dr. Huang and the Issuer. The Options shall vest and become exercisable as follows: (i) 100,000 Options vested on the Date of Grant, (ii) 100,000 Options shall vest on the 12-month anniversary of the Date of Grant, (iii), 100,000 Options shall vest on the 24-month anniversary of the Date of Grant, and (iv) 100,000 Options shall vest on the 36-month anniversary of the Date of Grant.

Content

Acquired as a result of the conversion of 1,925,392 shares of Series B Preferred Stock on October 17, 2022.

The stock options (the "Options") were issued to Dr. Huang on October 14, 2022 (the "Date of Grant"), pursuant to the 2019 Quantum Computing Inc. Equity and Incentive Plan and according to the terms of the employment agreement by and between Dr. Huang and the Issuer. The Options shall vest and become exercisable as follows: (i) 100,000 Options vested on the Date of Grant, (ii) 100,000 Options shall vest on the 12-month anniversary of the Date of Grant, (iii), 100,000 Options shall vest on the 24-month anniversary of the Date of Grant, and (iv) 100,000 Options shall vest on the 36-month anniversary of the Date of Grant.