Quantum Computing Inc. Appoints New COO and CTO

TL;DR

**QUBT just hired a new COO and CTO, signaling a leadership shake-up to boost operations and tech.**

AI Summary

Quantum Computing Inc. (QUBT) announced on January 25, 2024, that it has appointed Dr. William McGann as its new Chief Operating Officer (COO) and Dr. Michael Gordy as its new Chief Technology Officer (CTO). These appointments are significant because they bring experienced leadership to key operational and technological roles, which could accelerate the company's development and commercialization of quantum computing solutions. For investors, this signals a strengthening of the management team, potentially leading to improved execution and future growth.

Why It Matters

New leadership in key operational and technological roles can drive innovation and efficiency, potentially boosting the company's competitive edge and stock performance.

Risk Assessment

Risk Level: low — The appointment of new executives is a standard corporate action and generally carries low risk, often indicating a strategic move for growth.

Analyst Insight

A smart investor would monitor future announcements regarding the strategic initiatives and performance metrics under the new COO and CTO to assess the impact of these leadership changes on Quantum Computing Inc.'s growth trajectory.

Key Players & Entities

• Quantum Computing Inc. (company) — registrant
• Dr. William McGann (person) — new Chief Operating Officer (COO)
• Dr. Michael Gordy (person) — new Chief Technology Officer (CTO)
• NASDAQ (company) — exchange where QUBT common shares are registered
• January 25, 2024 (date) — date of earliest event reported

Forward-Looking Statements

• The new COO and CTO appointments will lead to an acceleration in Quantum Computing Inc.'s product development cycle. (Quantum Computing Inc.) — medium confidence, target: 2025-01-25
• QUBT's stock price will experience a modest positive reaction in the short term due to strengthened leadership. (QUBT) — low confidence, target: 2024-02-25

FAQ

Key Financial Figures

• $0.0001 — h registered Common shares (par value $0.0001 per share) QUBT NASDAQ Indicate b
• $12,500 — r. Liscouski will be paid a cash fee of $12,500 per month for his service as Chairman.

Filing Documents

• ea192533-8k_quantum.htm (8-K) — 27KB
• ea192533ex99-1_quantum.htm (EX-99.1) — 16KB
• ex99-1_001.jpg (GRAPHIC) — 14KB
• 0001213900-24-008469.txt ( ) — 238KB
• qubt-20240125.xsd (EX-101.SCH) — 3KB
• qubt-20240125_lab.xml (EX-101.LAB) — 33KB
• qubt-20240125_pre.xml (EX-101.PRE) — 22KB
• ea192533-8k_quantum_htm.xml (XML) — 4KB

02 Departure of Directors or Certain

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 25, 2024 (the "Effective Date"), in the course of discussing succession planning for the role of Chief Executive Officer (the "CEO") of Quantum Computing Inc. (the "Company"), the Board of Directors (the "Board") of the Company informed Mr. Liscouski that his Amended and Restated Employment Agreement with the Company, dated as of April 26, 2021 (the "Liscouski Employment Agreement") would not be renewed for his current position as CEO, effectively terminating Mr. Liscouski's employment as Chief Executive Officer at the end of his current term. Following such notification of effective termination, on January 30, 2024, Mr. Liscouski, choosing to not remain solely as President of the Company, stepped down as CEO and President, effective January 31, 2024. The Company and Mr. Liscouski agreed that the Company had voluntarily terminated Mr. Liscouski without "Cause" as such term is defined in the Liscouski Employment Agreement. Subject to the signing of a separation agreement which will contain a release in favor of the Company, Mr. Liscouski will receive (i) the payments and benefits detailed in Sections 6.2 and 6.4 of the Liscouski Employment Agreement and (ii) 168,000 shares of restricted common stock that are owed to Mr. Liscouski pursuant to his 2022 performance review. Mr. Liscouski will continue to serve the Company in his capacity as Chairman of the Board and Chairman of the Risk Committee. Starting on February 1, 2024, Mr. Liscouski will be paid a cash fee of $12,500 per month for his service as Chairman. Chief Executive Officer Appointment In connection with the succession planning for the role of CEO, on the Effective Date, the Board promoted Dr. William J. McGann, the Company's Chief Operating Officer and Chief Technology Officer, to the positions of CEO and President (the "CEO Appointme

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 99.1 Press Release, dated January 31, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1

SIGNATURES

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. QUANTUM COMPUTING INC. Date: January 31, 2024 By: /s/ Christopher Boehmler Christopher Boehmler Chief Financial Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR