Form 4: D-Wave Director Sells Shares Under 10b5-1 Plan

D-Wave Quantum Inc. Director Rohit Ghai sold 10,000 shares of common stock for a weighted average price of $17.932 per share, executed under a pre-arranged 10b5-1 trading plan.

Summary

• Rohit Ghai, a Director of D-Wave Quantum Inc. (QBTS), reported a sale of 10,000 shares of Common Stock.
• The transaction occurred on September 15, 2025.
• The shares were sold at a weighted average price of $17.932 per share, with individual sales ranging from $17.30 to $18.57.
• This sale was executed automatically pursuant to a Rule 10b5-1 trading plan adopted by Mr. Ghai on June 13, 2025.
• Following this transaction, Mr. Ghai beneficially owns 47,778 shares of Common Stock, which includes 14,260 shares of unvested restricted stock units.

Sentiment

Score: 5

Explanation: The filing reports a routine insider stock sale executed under a pre-arranged 10b5-1 trading plan, which is a common and often pre-scheduled event. It does not reflect a change in company fundamentals or management's immediate outlook, thus maintaining a neutral sentiment.

Future Outlook

N/A. This filing does not contain any forward-looking statements or guidance regarding the company's future performance.

Industry Context

This is a routine insider transaction under a pre-arranged trading plan, which is a common practice for corporate executives and directors to manage their equity holdings while complying with insider trading regulations. It does not provide specific insights into broader industry trends for quantum computing.

Comparison to Industry Standards

• N/A. This filing details a personal stock transaction by a director, not company performance or operational metrics that can be compared to industry benchmarks or competitors.

Stakeholder Impact

• Shareholders: The sale of 10,000 shares by a director represents a minor dilution of insider ownership, but given it's under a 10b5-1 plan, it's generally not interpreted as a lack of confidence.
• Employees, Customers, Suppliers, Creditors: No direct impact from this routine insider transaction.

Key Dates

Recommendation

The reported transaction is a pre-scheduled sale of shares by a director under a Rule 10b5-1 trading plan. Such sales are typically for personal financial planning and do not usually indicate a change in the company's fundamental prospects or the director's confidence in the long-term value of the company. Therefore, this filing alone does not warrant a change in investment recommendation.

Keywords

D-Wave Quantum, QBTS, Rohit Ghai, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Director Transaction, Equity Sales