Form 4: D-Wave Quantum Director John DiLullo Receives Equity Grant, Aligning Interests with Shareholders

D-Wave Quantum Inc. Director John D. DiLullo was granted 14,260 restricted stock units (RSUs) on June 5, 2025, as part of his compensation, which will vest in May 2026.

Summary

• John D. DiLullo, a Director of D-Wave Quantum Inc. (QBTS), acquired 14,260 shares of Common Stock through a restricted stock unit (RSU) grant.
• The transaction occurred on June 5, 2025, with a reported price of $0 per share, indicating a grant rather than a purchase.
• These 14,260 RSUs represent the right to receive one share of Common Stock each and are scheduled to vest on May 31, 2026.
• Vesting is contingent upon Mr. DiLullo's continued service to D-Wave Quantum Inc.
• Following this transaction, Mr. DiLullo beneficially owns a total of 101,295 shares of Common Stock directly.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. While a routine compensation event, it signifies continued alignment of a director's interests with the company's long-term performance, which is generally viewed favorably by investors. It does not, however, indicate any extraordinary positive or negative developments.

Positives

• The grant of restricted stock units to a director aligns management's long-term interests with those of the shareholders, as the value of the compensation is tied to the company's stock performance.
• Equity compensation is a standard practice for retaining and incentivizing key personnel, including directors, in technology companies.

Risks

• The value of the granted RSUs is subject to the future market price of D-Wave Quantum Inc.'s Common Stock, meaning the actual realized value could be lower than anticipated if the stock price declines.
• Vesting is subject to continued service, meaning the director would forfeit the unvested RSUs if their service to the company ceases before the vesting date.

Future Outlook

The grant of restricted stock units with a future vesting date indicates an expectation of continued service from Director John D. DiLullo and aims to incentivize his long-term commitment to the company's performance.

Industry Context

The granting of restricted stock units (RSUs) to directors is a common practice across the technology sector, particularly in growth-oriented companies like those in quantum computing. This method of compensation is widely used to attract and retain top talent, align their interests with long-term shareholder value, and conserve cash.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of director compensation is a standard practice in the technology industry, including companies like IBM (which has a quantum computing division), Google (Alphabet), and Microsoft, which frequently use equity grants to incentivize their executives and board members.
• The vesting schedule, contingent on continued service, is typical for such grants, ensuring ongoing commitment from the director.
• The grant size of 14,260 shares is within the expected range for director compensation at a company of D-Wave Quantum's stage and market capitalization, comparable to similar grants observed at other emerging technology firms.

Related Party Transactions

• The grant of restricted stock units to a director constitutes a related party transaction, which is a standard form of compensation and is disclosed as required by SEC regulations.

Stakeholder Impact

• Shareholders: The equity grant aligns the director's financial interests with shareholder value creation, as the value of the RSUs depends on the company's stock performance.
• Employees: While not directly impacting employees, the compensation structure for directors can reflect the company's overall approach to incentivizing key personnel.

Next Steps

• The 14,260 restricted stock units will vest on May 31, 2026, provided John D. DiLullo continues his service to D-Wave Quantum Inc.

Key Dates

Recommendation

Keywords

D-Wave Quantum, QBTS, Form 4, Insider Transaction, Restricted Stock Units, RSU, Equity Compensation, Director Compensation, Beneficial Ownership, Quantum Computing