Form 4: D-Wave CFO Sells Shares After Option Exercise
Statement of Changes in Beneficial Ownership
D-Wave Quantum Inc.'s CFO, John M. Markovich, exercised stock options and sold 100,000 shares of common stock for a significant profit under a Rule 10b5-1 trading plan.
Summary
- John M. Markovich, Chief Financial Officer of D-Wave Quantum Inc. (QBTS), executed a planned transaction on December 22, 2025.
- He acquired 100,000 shares of Common Stock by exercising stock options at a price of $0.92 per share.
- Concurrently, he sold 100,000 shares of Common Stock at a weighted average price of $30.0262 per share, with individual sales ranging from $30.00 to $30.12.
- These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on August 21, 2025.
- Following these transactions, Markovich beneficially owns 1,471,312 shares of Common Stock, which includes 518,417 shares of unvested restricted stock units.
- He also holds remaining stock options for 207,926 shares at an exercise price of $0.92 and 120,826 shares at an exercise price of $0.846.
Sentiment
Score: 6
Explanation: The transaction itself is a routine insider sale under a 10b5-1 plan, which is generally neutral. However, the significant profit realized by the CFO from exercising options at a very low price ($0.92) and selling at a high price ($30.0262) reflects strong stock performance, which is a positive indicator for the company's valuation.
Positives
- The Chief Financial Officer realized a substantial profit by selling shares at an average price of $30.0262 after exercising options at $0.92, indicating significant personal gain.
- The high sale price reflects a strong appreciation in D-Wave Quantum Inc.'s stock value.
Negatives
- The sale of 100,000 shares by a key executive reduces their direct equity stake in the company, which could be interpreted neutrally to slightly negatively by some investors, despite being a planned transaction.
Stakeholder Impact
- Shareholders: The sale by a CFO could be viewed neutrally or slightly negatively, but the execution under a 10b5-1 plan mitigates concerns about opportunistic selling. The significant profit realized by the insider might also be seen as a positive signal of past stock performance.
Key Dates
| Date | Description |
|---|---|
| 08/21/2025 | Rule 10b5-1 trading plan adopted by John M. Markovich. |
| 12/22/2025 | Date of stock option exercise and sale of common stock. |
| 12/23/2025 | Signature date of the reporting person. |
| 08/20/2031 | Expiration date of a stock option for 207,926 shares at $0.92. |
| 01/10/2034 | Expiration date of a stock option for 120,826 shares at $0.846. |
Keywords
D-Wave Quantum Inc., QBTS, Form 4, Insider Trading, Stock Option Exercise, Share Sale, John M. Markovich, CFO, Rule 10b5-1, Beneficial Ownership
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