Form 4: D-Wave Quantum Director Sells Over 71,000 Shares in Pre-Planned Transactions

Kirstjen Nielsen, a Director at D-Wave Quantum Inc. (QBTS), sold a total of 71,644 shares of common stock in two separate transactions in mid-June 2025, pursuant to a Rule 10b5-1 trading plan.

Summary

• Kirstjen Nielsen, a Director of D-Wave Quantum Inc. (QBTS), reported two sales of common stock.
• On June 12, 2025, Ms. Nielsen sold 58,644 shares of Common Stock at a weighted average price of $16.214 per share. The sales occurred in multiple transactions ranging from $16.10 to $16.275.
• On June 16, 2025, an additional 13,000 shares of Common Stock were sold at a price of $16.04 per share.
• Following these transactions, Ms. Nielsen beneficially owns 119,673 shares of D-Wave Quantum Common Stock.
• The remaining beneficial ownership includes 14,260 shares of unvested restricted stock units.
• Both transactions were made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a director selling a notable number of shares, which can be perceived as a lack of strong conviction in future stock appreciation. However, the fact that it was a pre-planned 10b5-1 sale mitigates some of the negative impact, preventing a lower score.

Positives

• The transactions were conducted under a Rule 10b5-1 trading plan, indicating pre-planned sales rather than opportunistic ones, which can be viewed positively for corporate governance and transparency.

Negatives

• A director selling a significant number of shares (71,644 shares in total) can be perceived negatively by investors, potentially signaling a lack of confidence in the company's near-term stock performance or a belief that the stock is fully valued.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing is a standard insider transaction report and does not provide broader industry context or trends. It reflects an individual director's trading activity rather than a company-wide strategic move.

Stakeholder Impact

• Shareholders may view the director's sale of shares with caution, potentially leading to negative sentiment or a re-evaluation of their investment in D-Wave Quantum Inc.

Key Dates

Recommendation

Keywords

D-Wave Quantum, QBTS, Insider Trading, Form 4, Stock Sale, Director, Kirstjen Nielsen, 10b5-1 Plan