Form 4: D-Wave Director Sells 8,000 Shares

D-Wave Quantum Inc. Director John D. DiLullo sold 8,000 shares of common stock for a weighted average price of $18.0122 per share pursuant to a Rule 10b5-1 trading plan.

Summary

• John D. DiLullo, a Director of D-Wave Quantum Inc. (QBTS), reported a sale of common stock.
• 8,000 shares of Common Stock were sold on March 5, 2026.
• The weighted average sale price was $18.0122 per share, with transactions ranging from $17.31 to $18.825.
• The sale was executed automatically under a Rule 10b5-1 trading plan adopted on June 15, 2025.
• Following the transaction, DiLullo beneficially owns 19,803 shares of Common Stock, which includes 14,260 shares of unvested restricted stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral to slightly negative event. While the sale is pre-planned under a 10b5-1 plan, mitigating concerns of opportunistic trading, any director sale can be interpreted cautiously by investors.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating it was not based on new, non-public information.

Negatives

• A director selling shares could be perceived by some investors as a lack of confidence, even if pre-planned.

Future Outlook

No forward-looking statements or guidance were provided in this filing.

Industry Context

StockSavvy.ai notes that while insider sales under a Rule 10b5-1 plan are pre-scheduled and designed to avoid accusations of trading on material non-public information, they are still closely watched by the market. Such sales, particularly by directors, can sometimes lead to speculation regarding management's long-term view of the company's prospects, even if the underlying reasons are personal financial planning.

Stakeholder Impact

• Shareholders: May interpret the director's sale as a signal, potentially leading to minor negative sentiment, though the 10b5-1 plan mitigates this.

Key Dates

Recommendation

A single insider sale, even by a director, especially when executed under a pre-arranged Rule 10b5-1 plan, typically does not provide sufficient new information to warrant a strong buy or sell recommendation. Investors should consider this transaction in the broader context of the company's financial performance, strategic initiatives, and overall market conditions rather than as a standalone signal.

Keywords

D-Wave Quantum Inc., QBTS, Form 4, Insider Sale, John D. DiLullo, Director, Rule 10b5-1, Stock Transaction