4/A: D-Wave Quantum Inc. Executive Diane Nguyen Amends SEC Filing to Correct Transaction Code
SEC Form 4/A
Diane Nguyen, General Counsel of D-Wave Quantum Inc., amended a previous SEC filing to correct the transaction code related to shares withheld for tax obligations.
Summary
- Diane Nguyen, General Counsel of D-Wave Quantum Inc., filed an amendment to a Form 4 previously filed on January 27, 2025.
- The amendment corrects the transaction code from 'S' to 'F' for a transaction on January 23, 2025, involving 2,383 shares of Common Stock.
- These shares were withheld by D-Wave Quantum Inc. to satisfy tax withholding requirements related to the vesting of restricted stock units.
- Following the transaction, Nguyen beneficially owns 448,162 shares of Common Stock, including 237,171 unvested restricted stock units and 8,823 shares acquired through the Employee Stock Purchase Plan (ESPP).
- The ESPP shares were purchased at 85% of the closing price on June 3, 2024.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing. The correction of the transaction code is a neutral event. The sentiment is slightly positive due to the transparency provided by the filing.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common for publicly traded companies. It provides transparency into the transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages including restricted stock units and employee stock purchase plans are standard practice among publicly listed companies, including D-Wave Quantum Inc.
- The specifics of these plans, such as vesting schedules and purchase discounts, vary from company to company.
- The disclosure of these transactions through SEC filings like Form 4 is a regulatory requirement to ensure transparency and prevent insider trading, similar to requirements for companies like IBM, Google, and Microsoft.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership and transactions.
- The ESPP benefits employees by allowing them to purchase company stock at a discounted rate.
Key Dates
| Date | Description |
|---|---|
| June 1, 2024 | Start of Employee Stock Purchase Plan (ESPP) purchase period. |
| June 3, 2024 | Date used to determine the purchase price of Common Stock under the ESPP (85% of closing price). |
| November 30, 2024 | End of Employee Stock Purchase Plan (ESPP) purchase period. |
| January 23, 2025 | Date of the transaction where shares were withheld for tax obligations. |
| January 27, 2025 | Date of the original Form 4 filing. |
| February 7, 2025 | Date of the amended Form 4/A filing. |
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