Form 4: D-Wave Director Steven West Buys Shares

D-Wave Quantum Inc. Director Steven M. West reported an indirect purchase of 82 shares of common stock at $21.89 per share, alongside existing direct and trust-held holdings.

Summary

• Steven M. West, a Director of D-Wave Quantum Inc., reported changes in beneficial ownership.
• An indirect acquisition of 82 shares of Common Stock occurred on November 18, 2025, at a price of $21.89 per share.
• These 82 shares are indirectly owned by his spouse, and the reporting person disclaims beneficial ownership for Section 16 purposes.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading strategy.
• Following the reported transaction, Steven M. West directly owns 19,837 shares, which include 17,978 unvested restricted stock units.
• Additionally, 118,840 shares are indirectly owned through the West-Karam Family Trust, where he is a trustee and a beneficiary.

Sentiment

Score: 7

Explanation: The indirect purchase of shares by a director, even if a small amount, can be interpreted as a positive signal of confidence in the company's prospects, especially when executed under a 10b5-1 plan, which suggests a pre-planned, non-opportunistic transaction.

Positives

• A director of D-Wave Quantum Inc. acquired additional shares, potentially signaling confidence in the company's future prospects.

Industry Context

This insider transaction occurs within the nascent but rapidly evolving quantum computing industry. Director purchases, even small ones, can be viewed by the market as a positive indicator of internal confidence in the company's technological advancements and market position, especially given the long-term investment horizon often associated with quantum technologies.

Corporate Governance

Related Party Transactions

• Indirect ownership of 82 shares by the reporting person's spouse, with the reporting person disclaiming beneficial ownership for Section 16 purposes.
• Indirect ownership of 118,840 shares through the West-Karam Family Trust, where the reporting person is a trustee and a beneficiary.

Stakeholder Impact

• Shareholders may view the director's purchase as a sign of management confidence, potentially influencing investor sentiment positively.

Key Dates

Recommendation

While the indirect purchase of 82 shares by a director is a positive signal of confidence, the small transaction size and indirect nature do not warrant a change from a 'hold' recommendation. It reinforces existing positions rather than indicating a significant new development that would fundamentally alter the investment thesis.

Keywords

D-Wave Quantum, QBTS, Steven West, Insider Trading, Form 4, Stock Purchase, Director, Quantum Computing