Form 4: D-Wave Legal Officer Sells Shares for Tax Obligations

D-Wave Quantum Inc.'s EVP, Chief Legal Officer & GC, Diane Nguyen, sold 2,532 shares of common stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• Diane Nguyen, EVP, Chief Legal Officer & GC of D-Wave Quantum Inc. (QBTS), sold 2,532 shares of common stock on March 13, 2026.
• The shares were sold at a weighted average price of $17.6278 per share, with individual transactions ranging from $17.60 to $17.66.
• This transaction was a 'sell to cover' to satisfy statutory tax withholding obligations upon the vesting of restricted stock units, explicitly noted as not a discretionary trade by the reporting person.
• Following the transaction, Diane Nguyen beneficially owns 563,674 shares of D-Wave Quantum Inc. common stock, which includes 223,381 unvested restricted stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While it represents a reduction in direct insider ownership, it is a non-discretionary sale for tax purposes, which is a common and expected occurrence with equity compensation.

Positives

• NA

Negatives

• A reduction in direct ownership by a key executive, even if non-discretionary, slightly decreases insider alignment, though it is a routine event.

Risks

• NA

Future Outlook

NA

Industry Context

StockSavvy.ai notes that 'sell to cover' transactions are a common occurrence in the technology sector, particularly for companies like D-Wave Quantum Inc. that utilize equity-based compensation to attract and retain talent in specialized fields such as quantum computing. These transactions are generally viewed as routine administrative events rather than indicators of executive sentiment about the company's future.

Related Party Transactions

• The sale of shares by an executive officer (Diane Nguyen) to cover tax obligations related to equity compensation is inherently a related party transaction, as it involves an insider and the company's equity incentive plans.

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a routine, non-discretionary sale. Could be perceived as a slight decrease in insider alignment, but generally not a major concern.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Key Dates

Recommendation

This Form 4 filing details a routine 'sell to cover' transaction by a D-Wave Quantum Inc. executive to satisfy tax obligations on vested restricted stock units. It is not a discretionary sale and therefore does not signal a change in management's confidence or the company's fundamentals. As such, it provides no new information that would warrant a change in investment recommendation, suggesting a 'hold' position is appropriate based solely on this filing.

Keywords

D-Wave Quantum Inc., QBTS, Diane Nguyen, Insider Trading, Form 4, Stock Sale, Restricted Stock Units, Tax Withholding, Executive Compensation, Quantum Computing