4/A: D-Wave Quantum CFO John M. Markovich Amends SEC Filing to Correct Transaction Code

John M. Markovich, CFO of D-Wave Quantum Inc., amended a previous SEC filing to correct the transaction code related to shares withheld for tax obligations.

Summary

• John M. Markovich, the Chief Financial Officer of D-Wave Quantum Inc., filed an amendment to a Form 4 with the Securities and Exchange Commission.
• The amendment corrects the transaction code from 'S' to 'F' and clarifies that shares were withheld to satisfy tax withholding requirements related to the vesting of restricted stock units.
• On January 23, 2025, 5,582 shares of Common Stock were withheld at a price of $5.27 per share.
• Following the transaction, Markovich beneficially owns 1,064,556 shares, which includes 481,250 unvested restricted stock units.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing correcting a minor error. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The correction promotes transparency, which is generally viewed favorably.

Industry Context

This filing is a routine disclosure related to executive compensation and tax obligations, common among publicly traded companies. It doesn't necessarily indicate a significant event for D-Wave Quantum but provides transparency into executive stock ownership.

Comparison to Industry Standards

• Executive compensation practices, including the use of restricted stock units and tax withholding, are standard across publicly traded companies.
• Companies like IBM, Google, and Microsoft also use similar equity compensation plans for their executives.
• The reporting requirements and forms used (like Form 4) are mandated by the SEC to ensure transparency in insider trading and executive compensation.

Stakeholder Impact

• The amendment provides transparency to shareholders regarding executive compensation and stock ownership.
• The correction of the transaction code ensures accurate reporting, which is important for maintaining investor confidence.

Key Dates