Marco Marroquin, Chief Hardware Officer of Agility Robotics, Inc., filed a Form 4 on November 6, 2026, disclosing the acquisition of two stock option grants totaling 2,300,498 shares of Common Stock, received in connection with the company's business combination with Churchill Capital Corp XI.

Key Highlights

  • Reporting person: Marco Marroquin, Chief Hardware Officer of Agility Robotics, Inc. (NASDAQ:AGLT)
  • Transaction date: November 4, 2026, with both option grants coded as acquisitions (A)
  • First option grant: 391,084 stock options at an exercise price of $0.56, expiring March 19, 2034
  • Second option grant: 1,909,414 stock options at an exercise price of $2.86, expiring November 9, 2035
  • Source of options: Legacy Agility stock options automatically converted into Agility Robotics, Inc. stock options pursuant to the Merger Agreement dated June 24, 2026
  • Vesting on first grant: 25% vested on February 1, 2025, with the remainder vesting in 36 substantially equal monthly installments
  • Vesting on second grant: 25% vests on August 4, 2026, with the remainder vesting in 36 substantially equal monthly installments

Marroquin's Option Grants Reflect Merger Conversion of Legacy Agility Equity

According to the filing, both stock option grants disclosed by Marco Marroquin were not newly issued awards in the conventional sense. Rather, they represent Legacy Agility stock options that were automatically converted into stock options of the issuer pursuant to the Agreement and Plan of Merger and Reorganization, dated June 24, 2026, among the issuer (formerly known as Churchill Capital Corp XI), BLB Merger Sub, Inc., and Agility Robotics, Inc. ("Legacy Agility"). The filing notes that common stock of Legacy Agility "automatically converted into newly issued shares of Common Stock of the Issuer" and that "each Legacy Agility stock option was automatically converted into the right to receive stock options of the Issuer, pursuant to the terms of the Merger Agreement."

The first option grant covers 391,084 shares of Common Stock at an exercise price of $0.56 per share, with an expiration date of March 19, 2034. Per the filing, this option "vested as to 25% of the underlying shares on February 1, 2025 and vests thereafter in 36 substantially equal monthly installments." The second grant covers 1,909,414 shares at $2.86 per share, expiring November 9, 2035, and "will vest as to 25% of the underlying shares on August 4, 2026 and vests thereafter in 36 substantially equal monthly installments." Both options are held directly.

Following the reported transactions, the filing shows Marroquin beneficially owns 391,084 derivative securities related to the first option and 1,909,414 related to the second, all held directly. The Form 4 was signed by Chris Porcelli as Attorney-in-Fact on November 6, 2026.

What Was Disclosed

Marco Marroquin, Chief Hardware Officer at Agility Robotics, Inc. (NASDAQ:AGLT), disclosed the acquisition of two converted stock option grants totaling 2,300,498 shares on November 4, 2026, arising from the merger between Legacy Agility and Churchill Capital Corp XI.