Form 4: D-Wave CFO Sells Shares for Tax Obligations

D-Wave Quantum Inc.'s Chief Financial Officer, John M. Markovich, sold 10,706 shares of common stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• John M. Markovich, Chief Financial Officer of D-Wave Quantum Inc. (QBTS), reported the sale of 10,706 shares of common stock.
• The transaction occurred on March 13, 2026, with shares sold at a weighted average price of $17.6278.
• This sale was a non-discretionary "sell to cover" transaction, mandated by the Issuer's equity incentive plans to satisfy statutory tax withholding obligations upon the vesting of restricted stock units.
• Following the sale, Mr. Markovich beneficially owns 1,451,427 shares of common stock, which includes 469,645 unvested restricted stock units.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a routine, non-discretionary transaction related to executive compensation, with the underlying RSU vesting being a positive for the executive, indicating successful compensation.

Positives

• The transaction was a non-discretionary "sell to cover" sale, indicating it was not a voluntary decision by the CFO to reduce his stake due to a lack of confidence in the company.
• The underlying event, the vesting of restricted stock units, represents a successful compensation event for the executive.

Negatives

• A reduction of 10,706 shares in the direct beneficial ownership of the Chief Financial Officer.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The sale represents shares required to be sold to cover statutory tax withholding obligations in connection with the vesting of restricted stock units.
• This sale is mandated by the Issuer's election under its equity incentive plans and does not represent a discretionary trade by the Reporting Person.

Industry Context

StockSavvy.ai notes that "sell to cover" transactions are a common and routine practice for executives receiving equity compensation, particularly restricted stock units, to satisfy tax liabilities upon vesting.

Comparison to Industry Standards

• The "sell to cover" mechanism for tax withholding is a standard practice across publicly traded companies globally, aligning with common equity incentive plan structures.
• This type of transaction is widely accepted as a non-discretionary event, distinct from open market sales driven by investment decisions.

Stakeholder Impact

• Shareholders: A minor, non-discretionary reduction in direct insider ownership, which is unlikely to significantly impact investor sentiment or the company's valuation.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary "sell to cover" transaction by the CFO to satisfy tax obligations related to RSU vesting. It does not reflect a change in management's outlook or the company's fundamentals, thus providing no new information to warrant a change in investment recommendation. A 'hold' recommendation is appropriate as this event is neutral to the investment thesis.

Keywords

D-Wave Quantum Inc., QBTS, Form 4, Insider Transaction, Stock Sale, Chief Financial Officer, Restricted Stock Units, Tax Withholding, Equity Compensation