Thomas G. Kramer, the Chief Financial Officer of IonQ, Inc. (NYSE:IONQ), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Kramer sold 9,780 shares of IonQ's common stock on December 11, 2024. The shares were sold at a weighted average price of $29.7171, generating a total of $290,633. The transaction comes as IonQ, now valued at $7.3 billion, has seen its stock surge over 129% in the past year, with revenue growth approaching 90%. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
The sale was executed to cover statutory tax withholding obligations related to the vesting of restricted stock units, as required by IonQ's equity incentive plans. Following this transaction, Kramer retains direct ownership of 926,114 shares of IonQ. InvestingPro subscribers have access to 15 additional key insights about IonQ, including detailed analysis of its financial health and growth prospects.
In other recent news, quantum computing firm IonQ has undergone significant developments. The company recently revised its executive severance plan and performance-based award agreements, as per an SEC filing. The amendments redefine severance packages for eligible executives and the acceleration methodology of performance stock units. IonQ also revealed its first quantum computer in Europe, expanding its global presence. The IonQ Forte Enterprise, now operational in Switzerland, is the first datacenter-ready quantum system outside the United States, featuring a record algorithmic qubit count of 36.
The company also announced its third quarter financial results for 2024, led by Jordan Shapiro, Vice President of Financial Planning and Analysis and Head of Investor Relations. The company discussed its adjusted EBITDA, a non-GAAP financial measure, but did not disclose specific financial performance figures such as revenue, profit, or loss. These recent developments indicate that IonQ continues to make strides in the competitive field of quantum computing.
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