Form 4: D-Wave Director Sells 7,000 Shares

D-Wave Quantum Inc. Director Kirstjen Nielsen sold 7,000 shares of common stock at $22.62 per share, reducing her direct beneficial ownership.

Summary

• Kirstjen Nielsen, a Director of D-Wave Quantum Inc. (QBTS), sold 7,000 shares of Common Stock.
• The transaction occurred on December 3, 2025, at a price of $22.62 per share.
• Following the sale, Nielsen directly beneficially owns 112,673 shares of Common Stock, which includes 14,260 shares of unvested restricted stock units.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 4

Explanation: The sale of shares by a director, even under a 10b5-1 plan, is generally perceived as a slightly negative signal by the market, indicating a reduction in insider ownership. However, the pre-planned nature mitigates some of the negative sentiment compared to an unplanned sale.

Negatives

• A Director of D-Wave Quantum Inc. sold a significant number of shares.
• Insider selling can sometimes be interpreted by the market as a lack of confidence in the company's near-term prospects, even if pre-planned.

Future Outlook

NA

Industry Context

Insider transactions, particularly sales, are closely watched by investors as they can provide signals about management's perception of the company's valuation or future performance. However, sales under a Rule 10b5-1 plan are pre-scheduled and do not necessarily reflect new information or a change in sentiment.

Stakeholder Impact

• Shareholders: May interpret the insider sale as a negative signal, potentially impacting investor confidence and share price.

Key Dates

Recommendation

While the sale by a director is a data point to monitor, it was executed under a pre-arranged 10b5-1 plan, which suggests it's not necessarily driven by new, negative information. Investors should consider this transaction in the broader context of the company's financial performance and strategic initiatives rather than as a standalone strong sell signal. Maintain a 'hold' rating and observe future insider activity and company developments.

Keywords

D-Wave Quantum Inc., QBTS, Kirstjen Nielsen, Insider Sale, Form 4, Stock Transaction, Director, Common Stock, 10b5-1 Plan