Form 4: D-Wave Quantum Director Sells Over 43,000 Shares Under Pre-Planned Trading Arrangement
Insider Transaction Report
D-Wave Quantum Inc. Director Rohit Ghai sold 43,517 shares of common stock at a weighted average price of $16.805 per share on June 12, 2025, pursuant to a Rule 10b5-1 trading plan.
Summary
- Rohit Ghai, a Director of D-Wave Quantum Inc. (QBTS), reported the sale of common stock.
- The transaction occurred on June 12, 2025.
- Mr. Ghai sold 43,517 shares of Common Stock, par value $0.0001 per share.
- The weighted average sale price for the shares was $16.805, with individual transaction prices ranging from $16.80 to $16.85.
- The sale was conducted pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.
- Following the reported transaction, Mr. Ghai beneficially owns 57,778 shares of D-Wave Quantum Inc. common stock.
- The beneficially owned shares include 14,260 shares of unvested restricted stock units.
Sentiment
Score: 4
Explanation: The sale of a significant number of shares by a director, even if pre-planned under a Rule 10b5-1 plan, can be interpreted with slight negativity by investors as it reduces insider ownership, though the pre-planned nature mitigates some concerns.
Positives
- The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-planned sale rather than a reaction to immediate, non-public information, which is a positive for corporate governance and transparency.
Negatives
- A director, Rohit Ghai, sold a significant number of shares (43,517 shares), which can be perceived negatively by the market as it reduces insider ownership.
Future Outlook
No future outlook or guidance is provided in this Form 4 filing, as it is solely a report of an insider transaction.
Industry Context
This Form 4 filing reports an individual insider transaction and does not provide information related to broader industry trends or competitive landscape for D-Wave Quantum Inc.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Insider Trading Policy Adherence | The reported transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). | 06/12/2025 | This indicates a pre-planned sale, which enhances transparency and reduces the perception of opportunistic insider trading based on non-public information. |
Related Party Transactions
- Sale of 43,517 shares of D-Wave Quantum Inc. common stock by Director Rohit Ghai, an insider.
Stakeholder Impact
- Shareholders: May perceive the sale by a director as a negative signal, potentially leading to concerns about insider confidence, although the 10b5-1 plan mitigates some of this concern.
Key Dates
| Date | Description |
|---|---|
| 06/12/2025 | Date of the reported transaction (sale of common stock by Rohit Ghai). |
| 06/16/2025 | Date the Form 4 was signed by the Attorney-in-Fact for Rohit Ghai. |
Keywords
D-Wave Quantum, QBTS, Rohit Ghai, Form 4, Insider Trading, Stock Sale, Director, Common Stock, 10b5-1 Plan
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