Form 4: D-Wave Quantum Director Roger Biscay Granted 14,260 Restricted Stock Units

D-Wave Quantum Inc. Director Roger Biscay was granted 14,260 restricted stock units (RSUs) on June 5, 2025, which are set to vest on May 31, 2026, contingent on his continued service.

Summary

• D-Wave Quantum Inc. (QBTS) Director Roger Biscay acquired 14,260 shares of Common Stock on June 5, 2025.
• These shares represent Restricted Stock Units (RSUs) granted at a price of $0 per unit.
• Each RSU represents the right to receive one share of Common Stock of the Issuer.
• The RSUs are scheduled to vest on May 31, 2026, subject to Mr. Biscay's continued service to the Issuer.
• Following this transaction, Mr. Biscay directly beneficially owns a total of 120,886 shares of Common Stock.

Sentiment

Score: 7

Explanation: The RSU grant is a routine compensation event for a director, indicating continued alignment of interests and retention. It is a neutral to slightly positive event as it shows commitment, but does not represent new capital or significant operational news.

Positives

• The grant of Restricted Stock Units to Director Roger Biscay aligns his financial interests with those of shareholders, as the value of the RSUs is directly tied to the company's stock performance.
• The vesting schedule, contingent upon continued service, incentivizes long-term commitment and retention of a key board member.

Negatives

• The RSUs are subject to a vesting period, meaning the shares are not immediately available to the director, and their ultimate value depends on future stock performance.
• The grant at a $0 price indicates compensation rather than a direct cash investment by the director, which does not reflect new capital inflow from the director.

Risks

• The vesting of the 14,260 Restricted Stock Units is contingent upon Roger Biscay's continued service to D-Wave Quantum Inc. until May 31, 2026; if service ceases before this date, the RSUs may be forfeited.

Future Outlook

The grant of Restricted Stock Units with a vesting date of May 31, 2026, indicates an expectation of continued service from Director Roger Biscay and aligns his future compensation with the company's long-term performance and shareholder value creation.

Management Comments

• While no direct quotes were provided in the filing, the RSU grant itself reflects the company's standard practice for compensating and retaining its directors, aligning their interests with long-term shareholder value.

Industry Context

The granting of Restricted Stock Units (RSUs) is a common and widely accepted form of equity compensation for directors and executives across the technology sector, including the nascent quantum computing industry. This practice is designed to attract and retain key talent while aligning management incentives with company performance and shareholder returns over the long term.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of director compensation is a standard practice widely adopted by publicly traded companies, particularly in high-growth technology sectors like quantum computing.
• Companies such as IonQ, Rigetti Computing, and other emerging quantum technology firms frequently utilize similar equity-based compensation structures to incentivize and retain key personnel and board members.
• The vesting schedule tied to continued service is also a typical feature of such grants, ensuring long-term commitment and alignment with company objectives.

Stakeholder Impact

• **Shareholders:** The RSU grant aligns the director's financial interests with shareholder value creation, as the value of the RSUs depends on the company's stock performance. However, it also represents potential future dilution upon vesting.
• **Employees:** This transaction is specific to a director's compensation and does not directly impact the broader employee base, though it reflects standard compensation practices for leadership.

Next Steps

• The 14,260 Restricted Stock Units granted to Director Roger Biscay are expected to vest on May 31, 2026, subject to his continued service to D-Wave Quantum Inc.

Key Dates

Recommendation

Keywords

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