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[Form 4] D-Wave Quantum Inc. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

D-Wave Quantum insider transactions by EVP & Chief Legal Officer Diane Nguyen on 08/13/2025. The filing shows multiple option exercises and open-market sales. Ms. Nguyen exercised stock options at strike prices of $0.91, $0.92 and $2.10 for aggregate grants including 27,668; 9,118; 2,224; and 40,831 option shares, with the $2.10 option covering 40,831 shares of which 43,750 option shares remain related to outstanding awards. The report discloses sales of common stock in several tranches at weighted-average prices between about $18.11 and $18.54. The reporting person held 614,978 shares following some transactions, including 294,212 unvested restricted stock units, and shares were withheld to satisfy tax obligations in connection with RSU vesting.

Operazioni insider di D-Wave da parte della EVP e Chief Legal Officer Diane Nguyen il 13/08/2025. Il documento riporta diverse esercitazioni di opzioni e vendite sul mercato aperto. La sig.ra Nguyen ha esercitato opzioni con prezzi di esercizio di $0,91, $0,92 e $2,10 per lotti complessivi che comprendono 27.668; 9.118; 2.224; e 40.831 azioni opzione, con l'opzione a $2,10 che copre 40.831 azioni, mentre rimangono 43.750 opzioni legate a premi ancora in essere. Il rapporto indica vendite di azioni ordinarie in pi霉 tranche a prezzi medi ponderati compresi approssimativamente tra $18,11 e $18,54. Dopo alcune operazioni la persona segnalante deteneva 614.978 azioni, incluse 294.212 unit脿 di azioni vincolate (RSU) non ancora maturate, e azioni sono state trattenute per soddisfare obblighi fiscali in relazione alla maturazione delle RSU.

Operaciones internas de D-Wave por la EVP y Chief Legal Officer Diane Nguyen el 13/08/2025. El informe muestra m煤ltiples ejercicios de opciones y ventas en el mercado abierto. La Sra. Nguyen ejerci贸 opciones con precios de ejercicio de $0.91, $0.92 y $2.10 para concesiones totales que incluyen 27.668; 9.118; 2.224; y 40.831 acciones en opciones, siendo la opci贸n de $2.10 sobre 40.831 acciones, mientras que 43.750 acciones en opciones permanecen vinculadas a adjudicaciones pendientes. El reporte revela ventas de acciones ordinarias en varias tandas a precios promedio ponderados de aproximadamente $18.11 a $18.54. Tras algunas transacciones, la persona informante pose铆a 614.978 acciones, incluidas 294.212 unidades restringidas (RSU) no adquiridas, y se retuvieron acciones para cubrir obligaciones fiscales derivadas del vencimiento de las RSU.

2025雲� 8鞗� 13鞚� D-Wave鞚� EVP 瓴� 氩曤齑濌磩毂呾瀯鞛� Diane Nguyen鞚� 雮措秬鞛� 瓯半灅. 鞝滌稖 靹滊鞐愲姅 鞐煬 彀鞚� 欤检嫕毵れ垬靹犿儩甓� 頄夓偓鞕� 瓿店皽鞁滌灔 毵る弰臧� 旮办灛霅橃柎 鞛堨姷雼堧嫟. Nguyen 鞌姅 頄夓偓 臧�瓴� $0.91, $0.92 氚� $2.10鞚� 鞓奠厴鞚� 頄夓偓頄堨溂氅�, 齑� 攵�鞐秳鞐愲姅 27,668欤�, 9,118欤�, 2,224欤� 氚� 40,831欤检潣 鞓奠厴 欤检嫕鞚� 韽暔霅橃棃鞀惦媹雼�. $2.10 鞓奠厴鞚� 40,831欤检棎 頃措嫻頃橂┌, 鞐爠頌� 氙胳旮� 靾橃棳鞕� 甏�霠悳 43,750欤检潣 鞓奠厴鞚� 雮晞 鞛堨姷雼堧嫟. 氤搓碃靹滌棎電� 臧�欷戫弶攴犼皜瓴╈澊 鞎� $18.11鞐愳劀 $18.54 靷澊鞚� 鞐煬 彀鞚� 氤错喌欤� 毵る弰臧� 瓿店皽霅橃柎 鞛堨姷雼堧嫟. 鞚茧秬 瓯半灅 頉� 氤搓碃鞛愲姅 614,978欤茧ゼ 氤挫湢頃橁碃 鞛堨棃鞙茧┌ 攴胳 294,212欤茧姅 鞎勳 頇曥爼霅橃 鞎婌潃 鞝滍暅攵�欤检嫕雼渼(RSU)鞓�鞀惦媹雼�. RSU 頇曥爼瓿� 甏�霠悳 靹戈笀 雮╇秬毳� 鞙勴暣 鞚茧秬 欤检嫕鞚� 鞗愳矞歆曥垬霅橃棃鞀惦媹雼�.

Op茅rations d'initi茅s de D-Wave par la EVP et Chief Legal Officer Diane Nguyen le 13/08/2025. Le d茅p么t fait 茅tat de multiples exercices d'options et de ventes sur le march茅 ouvert. Mme Nguyen a exerc茅 des options aux prix d'exercice de $0,91, $0,92 et $2,10 pour des attributions totales comprenant 27 668 ; 9 118 ; 2 224 ; et 40 831 actions d'option, l'option 脿 $2,10 couvrant 40 831 actions, tandis que 43 750 actions d'option restent li茅es 脿 des attributions en suspens. Le rapport r茅v猫le des ventes d'actions ordinaires en plusieurs tranches 脿 des prix moyens pond茅r茅s d'environ $18,11 脿 $18,54. Apr猫s certaines op茅rations, la personne d茅clar茅e d茅tenait 614 978 actions, dont 294 212 unit茅s d'actions restreintes (RSU) non acquises, et des actions ont 茅t茅 retenues pour satisfaire des obligations fiscales li茅es 脿 l'acquisition des RSU.

Insider-Transaktionen von D-Wave durch EVP & Chief Legal Officer Diane Nguyen am 13.08.2025. Die Einreichung weist mehrere Aus眉bungen von Optionen und Verk盲ufe am freiverkehrlichen Markt aus. Frau Nguyen 眉bte Aktienoptionen zu Aus眉bungspreisen von $0,91, $0,92 und $2,10 aus f眉r aggregierte Zuteilungen, die 27.668; 9.118; 2.224; und 40.831 Optionsaktien umfassen, wobei die $2,10-Option 40.831 Aktien abdeckt und noch 43.750 Optionsaktien mit ausstehenden Zuweisungen verbunden sind. Der Bericht nennt Verk盲ufe von Stammaktien in mehreren Tranchen zu gewogenen Durchschnittspreisen von etwa $18,11 bis $18,54. Nach einigen Transaktionen hielt die meldende Person 614.978 Aktien, darunter 294.212 unverfallte Restricted Stock Units (RSU), und Aktien wurden einbehalten, um steuerliche Verpflichtungen im Zusammenhang mit dem Vesting der RSU zu erf眉llen.

Positive
  • Substantial retained ownership: Reporting person retains 614,978 shares after transactions, including 294,212 unvested RSUs, indicating ongoing alignment with shareholders.
  • Transparent reporting of prices and mechanics: Weighted-average sale prices and explanation of tax withholding for RSU vesting are disclosed.
Negative
  • Significant share sales: The filing shows open-market sales totaling multiple tranches (e.g., 25,634; 39,010; 4,626 shares) at prices in the $18.11鈥�$18.54 range, reducing liquid ownership.
  • Lack of per-trade detail in-file: Weighted-average prices used for multi-trade sales; specific per-trade quantities and prices are not included but are stated to be available on request.

Insights

TL;DR: Insider exercised multiple options and sold shares at ~$18.1鈥�$18.54; holdings remain concentrated, including significant unvested RSUs.

The transactions are typical executive liquidity events: multiple option exercises at low strike prices ($0.91鈥�$2.10) were executed and portions of resulting shares were sold in the open market at weighted-average prices reported between approximately $18.11 and $18.54. The reporting person still beneficially owns over 600,000 shares, of which ~294,212 are unvested RSUs, indicating continued equity exposure. These moves generate cash for the insider while leaving substantial retained equity.

TL;DR: Multiple simultaneous exercises and sales by a senior officer are routine but warrant disclosure clarity on volumes and timing.

The Form 4 discloses option vesting and immediate monetization through market sales plus share withholding for taxes on RSU vesting. The filing includes weighted-average sale prices and notes that per-price breakdowns can be provided on request, which is appropriate. Continued ownership above 600,000 shares suggests alignment with shareholder interests, while the sales provide transparency into the officer's liquidity actions.

Operazioni insider di D-Wave da parte della EVP e Chief Legal Officer Diane Nguyen il 13/08/2025. Il documento riporta diverse esercitazioni di opzioni e vendite sul mercato aperto. La sig.ra Nguyen ha esercitato opzioni con prezzi di esercizio di $0,91, $0,92 e $2,10 per lotti complessivi che comprendono 27.668; 9.118; 2.224; e 40.831 azioni opzione, con l'opzione a $2,10 che copre 40.831 azioni, mentre rimangono 43.750 opzioni legate a premi ancora in essere. Il rapporto indica vendite di azioni ordinarie in pi霉 tranche a prezzi medi ponderati compresi approssimativamente tra $18,11 e $18,54. Dopo alcune operazioni la persona segnalante deteneva 614.978 azioni, incluse 294.212 unit脿 di azioni vincolate (RSU) non ancora maturate, e azioni sono state trattenute per soddisfare obblighi fiscali in relazione alla maturazione delle RSU.

Operaciones internas de D-Wave por la EVP y Chief Legal Officer Diane Nguyen el 13/08/2025. El informe muestra m煤ltiples ejercicios de opciones y ventas en el mercado abierto. La Sra. Nguyen ejerci贸 opciones con precios de ejercicio de $0.91, $0.92 y $2.10 para concesiones totales que incluyen 27.668; 9.118; 2.224; y 40.831 acciones en opciones, siendo la opci贸n de $2.10 sobre 40.831 acciones, mientras que 43.750 acciones en opciones permanecen vinculadas a adjudicaciones pendientes. El reporte revela ventas de acciones ordinarias en varias tandas a precios promedio ponderados de aproximadamente $18.11 a $18.54. Tras algunas transacciones, la persona informante pose铆a 614.978 acciones, incluidas 294.212 unidades restringidas (RSU) no adquiridas, y se retuvieron acciones para cubrir obligaciones fiscales derivadas del vencimiento de las RSU.

2025雲� 8鞗� 13鞚� D-Wave鞚� EVP 瓴� 氩曤齑濌磩毂呾瀯鞛� Diane Nguyen鞚� 雮措秬鞛� 瓯半灅. 鞝滌稖 靹滊鞐愲姅 鞐煬 彀鞚� 欤检嫕毵れ垬靹犿儩甓� 頄夓偓鞕� 瓿店皽鞁滌灔 毵る弰臧� 旮办灛霅橃柎 鞛堨姷雼堧嫟. Nguyen 鞌姅 頄夓偓 臧�瓴� $0.91, $0.92 氚� $2.10鞚� 鞓奠厴鞚� 頄夓偓頄堨溂氅�, 齑� 攵�鞐秳鞐愲姅 27,668欤�, 9,118欤�, 2,224欤� 氚� 40,831欤检潣 鞓奠厴 欤检嫕鞚� 韽暔霅橃棃鞀惦媹雼�. $2.10 鞓奠厴鞚� 40,831欤检棎 頃措嫻頃橂┌, 鞐爠頌� 氙胳旮� 靾橃棳鞕� 甏�霠悳 43,750欤检潣 鞓奠厴鞚� 雮晞 鞛堨姷雼堧嫟. 氤搓碃靹滌棎電� 臧�欷戫弶攴犼皜瓴╈澊 鞎� $18.11鞐愳劀 $18.54 靷澊鞚� 鞐煬 彀鞚� 氤错喌欤� 毵る弰臧� 瓿店皽霅橃柎 鞛堨姷雼堧嫟. 鞚茧秬 瓯半灅 頉� 氤搓碃鞛愲姅 614,978欤茧ゼ 氤挫湢頃橁碃 鞛堨棃鞙茧┌ 攴胳 294,212欤茧姅 鞎勳 頇曥爼霅橃 鞎婌潃 鞝滍暅攵�欤检嫕雼渼(RSU)鞓�鞀惦媹雼�. RSU 頇曥爼瓿� 甏�霠悳 靹戈笀 雮╇秬毳� 鞙勴暣 鞚茧秬 欤检嫕鞚� 鞗愳矞歆曥垬霅橃棃鞀惦媹雼�.

Op茅rations d'initi茅s de D-Wave par la EVP et Chief Legal Officer Diane Nguyen le 13/08/2025. Le d茅p么t fait 茅tat de multiples exercices d'options et de ventes sur le march茅 ouvert. Mme Nguyen a exerc茅 des options aux prix d'exercice de $0,91, $0,92 et $2,10 pour des attributions totales comprenant 27 668 ; 9 118 ; 2 224 ; et 40 831 actions d'option, l'option 脿 $2,10 couvrant 40 831 actions, tandis que 43 750 actions d'option restent li茅es 脿 des attributions en suspens. Le rapport r茅v猫le des ventes d'actions ordinaires en plusieurs tranches 脿 des prix moyens pond茅r茅s d'environ $18,11 脿 $18,54. Apr猫s certaines op茅rations, la personne d茅clar茅e d茅tenait 614 978 actions, dont 294 212 unit茅s d'actions restreintes (RSU) non acquises, et des actions ont 茅t茅 retenues pour satisfaire des obligations fiscales li茅es 脿 l'acquisition des RSU.

Insider-Transaktionen von D-Wave durch EVP & Chief Legal Officer Diane Nguyen am 13.08.2025. Die Einreichung weist mehrere Aus眉bungen von Optionen und Verk盲ufe am freiverkehrlichen Markt aus. Frau Nguyen 眉bte Aktienoptionen zu Aus眉bungspreisen von $0,91, $0,92 und $2,10 aus f眉r aggregierte Zuteilungen, die 27.668; 9.118; 2.224; und 40.831 Optionsaktien umfassen, wobei die $2,10-Option 40.831 Aktien abdeckt und noch 43.750 Optionsaktien mit ausstehenden Zuweisungen verbunden sind. Der Bericht nennt Verk盲ufe von Stammaktien in mehreren Tranchen zu gewogenen Durchschnittspreisen von etwa $18,11 bis $18,54. Nach einigen Transaktionen hielt die meldende Person 614.978 Aktien, darunter 294.212 unverfallte Restricted Stock Units (RSU), und Aktien wurden einbehalten, um steuerliche Verpflichtungen im Zusammenhang mit dem Vesting der RSU zu erf眉llen.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Nguyen Diane
(Last) (First) (Middle)
2650 EAST BAYSHORE ROAD
(Street)
PALO ALTO CA 94303
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
D-Wave Quantum Inc. [ QBTS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Chief Legal Officer & GC
3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.0001 per share ("Common Stock") 08/13/2025 F(1) 2,459 D $18.51 601,602(2) D
Common Stock, par value $0.0001 per share ("Common Stock") 08/13/2025 S 25,634 D $18.113(3) 575,968(2) D
Common Stock, par value $0.0001 per share ("Common Stock") 08/13/2025 M 27,668 A $0.91 603,636(2) D
Common Stock, par value $0.0001 per share ("Common Stock") 08/13/2025 M 9,118 A $0.91 612,754(2) D
Common Stock, par value $0.0001 per share ("Common Stock") 08/13/2025 M 2,224 A $0.92 614,978(2) D
Common Stock, par value $0.0001 per share ("Common Stock") 08/13/2025 S 39,010 D $18.181(4) 575,968(2) D
Common Stock, par value $0.0001 per share ("Common Stock") 08/13/2025 M 40,831 A $2.1 616,799(2) D
Common Stock, par value $0.0001 per share ("Common Stock") 08/13/2025 S 4,626(5) D $18.54(6) 612,173(2) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $0.91 08/13/2025 M 27,668 (7) 05/05/2030 Common Stock, par value $0.0001 per share ("Common Stock") 27,668 $0.91 0 D
Stock Option (right to buy) $0.91 08/13/2025 M 9,118 (7) 11/17/2030 Common Stock, par value $0.0001 per share ("Common Stock") 9,118 $0.91 0 D
Stock Option (right to buy) $0.92 08/13/2025 M 2,224 (7) 08/20/2031 Common Stock, par value $0.0001 per share ("Common Stock") 2,224 $0.92 0 D
Stock Option (right to buy) $2.1 08/13/2025 M 40,831 (8) 03/27/2034 Common Stock, par value $0.0001 per share ("Common Stock") 40,831 $2.1 43,750 D
Explanation of Responses:
1. Represents shares of Common Stock withheld by the Issuer to satisfy tax withholding requirements in connection with the vesting of restricted stock units.
2. Includes 294,212 shares of unvested restricted stock units.
3. The sales price reported is the weighted average sale price for the number of shares sold. These shares were sold in multiple transactions at prices ranging from $18.11 to $18.13, inclusive. Full information regarding the number of shares sold at each separate price will be supplied upon request by Securities and Exchange Commission Staff, the Issuer or a security holder of the Issuer.
4. The sales price reported is the weighted average sale price for the number of shares sold. These shares were sold in multiple transactions at prices ranging from $18.18 to $18.185, inclusive. Full information regarding the number of shares sold at each separate price will be supplied upon request by Securities and Exchange Commission Staff, the Issuer or a security holder of the Issuer.
5. Represents shares of Common Stock sold by the Reporting Person in connection with the exercise of 40,831 stock options.
6. The sales price reported is the weighted average sale price for the number of shares sold. These shares were sold in multiple transactions at prices ranging from $18.475 to $18.540, inclusive. Full information regarding the number of shares sold at each separate price will be supplied upon request by Securities and Exchange Commission Staff, the Issuer or a security holder of the Issuer.
7. The option has vested and is exercisable as of the date hereof.
8. This option has vested and is exercisable as of the date hereof as to 40,831 shares of Common Stock and the remaining portion of the option vests in monthly installments of 2,083 or 2,084 shares of Common Stock on the 1st of each month through May 1, 2027.
Remarks:
/s/ Diane Nguyen 08/14/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

What insider transactions did Diane Nguyen report for QBTS on 08/13/2025?

The report shows multiple option exercises and open-market sales on 08/13/2025, including exercises of options for 27,668; 9,118; 2,224; and 40,831 shares and sales of shares at weighted-average prices between about $18.11 and $18.54.

How many shares does the reporting person beneficially own after these transactions?

The filing reports 614,978 shares beneficially owned following the reported transactions, which includes 294,212 unvested restricted stock units.

Were any shares withheld for taxes related to RSU vesting?

Yes. The filing states that 2,459 shares were withheld by the issuer to satisfy tax withholding requirements in connection with RSU vesting.

What strike prices applied to the exercised options?

The exercised options had strike prices of $0.91, $0.92, and $2.10 as disclosed in the Form 4.

Are there remaining unexercised or vesting portions of the options?

Yes. One option (the $2.10 option) was exercisable for 40,831 shares as of the date and the remaining portion vests monthly through May 1, 2027, per the filing.
Stock QBTS logo
D Wave Quantum

NYSE:QBTS

QBTS Rankings

#1194 Ranked by Market Cap
N/A Ranked by Dividends

QBTS Latest News

Aug 13, 2025
D-Wave Announces First-Ever Qubits Japan 2025 Quantum Computing User Conference
Aug 7, 2025
D-Wave Reports Second Quarter 2025 Results
Aug 4, 2025
D-Wave Introduces New Developer Tools to Advance Quantum AI Exploration and Innovation
Jul 30, 2025
D-Wave Quantum Announces Strategic Development Initiative for Advanced Cryogenic Packaging
Jul 24, 2025
D-Wave Quantum to Report Second Quarter Fiscal Year 2025 Financial Results on August 7, 2025

QBTS Latest SEC Filings

Aug 15, 2025
[Form 4] D-Wave Quantum Inc. Insider Trading Activity
Aug 14, 2025
[Form 4] D-Wave Quantum Inc. Insider Trading Activity
Aug 13, 2025
[144] D-Wave Quantum Inc. SEC Filing
Aug 13, 2025
[144] D-Wave Quantum Inc. SEC Filing
Aug 13, 2025
[8-K] D-Wave Quantum Inc. Reports Material Event

QBTS Stock Data

6.38B
333.67M
2.41%
34.94%
17.49%
Computer Hardware
Services-computer Processing & Data Preparation
United States
PALO ALTO