TORONTO, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Xanadu Quantum Technologies Limited (“Xanadu”; NASDAQ/TSX: XNDU), a leading photonic quantum computing company, today announced that Rafal Janik, Xanadu's Chief Operating Officer, has entered into an automatic securities disposition plan (the “Plan”) to sell Class B Subordinate Voting Shares of Xanadu ("Class B Shares") held directly by Mr. Janik. The Plan has been adopted in accordance with applicable securities laws and Xanadu’s internal policies. Sales of Class B Shares under the Plan are eligible to commence on or after December 29, 2026.
The Plan was entered into when Mr. Janik was not in possession of material non-public information regarding Xanadu and permits trades to be made in accordance with pre-arranged instructions given when Mr. Janik is not in possession of material non-public information regarding Xanadu. The Plan provides for the sale of up to 312,914 Class B Shares and will terminate no later than December 31, 2027. The Class B Shares that could potentially be disposed of under the Plan may include Class B Shares, currently held, directly or indirectly, by Mr. Janik and Class B Shares issued to Mr. Janik upon vesting and/or exercise of options and restricted share units granted to Mr. Janik as compensation for his services as Chief Operating Officer. Sales of Class B Shares under the Plan will be effected by an independent securities broker in accordance with the trading parameters, price and other restrictions and instructions set out in the Plan. The Plan has been authorized and established in the form approved by Xanadu and contains meaningful restrictions on the ability of Mr. Janik to modify, suspend or terminate the Plan.
This announcement is made and will be available on SEDAR+ at www.sedarplus.ca pursuant to the recommended practices set forth in Staff Notice 55-317 Automatic Securities Disposition Plans of the Canadian Securities Administrators. Information regarding the Plan and transactions thereunder, as the case may be, may be accessed on SEDI at www.sedi.ca.
About Xanadu
Founded in 2016, Xanadu is a Canadian photonic quantum computing company with the mission to build quantum computers that are useful and available to people everywhere. Xanadu is building fault-tolerant quantum computers using light, with systems designed to compute at room temperature. Xanadu develops both hardware and software, including PennyLane, its open-source quantum computing platform. Xanadu is the first pure-play photonic quantum computing company to list on public markets (Nasdaq/TSX: XNDU) and is recognized globally for its breakthroughs in scalable quantum technologies. Visit xanadu.ai or follow on X @XanaduAI.
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