Form 4: D-Wave Quantum Inc. Executive Diane Nguyen Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Diane Nguyen, General Counsel of D-Wave Quantum Inc., reports a disposition of 2,100 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- On July 22, 2024, Diane Nguyen, General Counsel of D-Wave Quantum Inc., filed a Form 4 to report changes in beneficial ownership of the company's stock.
- The reported transaction involved the disposition of 2,100 shares of common stock at a price of $1.02 per share.
- This disposition was related to covering tax obligations associated with the vesting of restricted stock units (RSUs).
- Following the transaction, Nguyen directly owns 467,102 shares of D-Wave Quantum Inc.
- This total includes 306,997 unvested RSUs granted on various dates with different vesting schedules.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions by an insider, primarily related to tax obligations. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that the General Counsel is managing her equity compensation and tax obligations.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
- The vesting schedules of the RSUs are typical for executive compensation packages in the tech industry.
- The tax-related disposition of shares is a common occurrence among executives receiving equity compensation.
Key Dates
| Date | Description |
|---|---|
| October 13, 2022 | Date of grant for 93,312 RSUs vesting on October 13, 2024 and October 13, 2025. |
| December 1, 2023 | Date of Employee Stock Purchase Plan, 9,436 shares of Common Stock were purchased at a price equal to 85% of the closing price of the Issuer's Common Stock. |
| March 27, 2023 | Date of grant for 58,685 RSUs vesting quarterly at a rate of 6.25% beginning September 27, 2024. |
| March 27, 2024 | Date of grant for 80,000 RSUs vesting as follows: 20,000 on March 27, 2025 and the remaining 60,000 RSUs will vest quarterly at a rate of 6.25% beginning June 27, 2025. |
| March 27, 2024 | Date of grant for 75,000 RSUs vesting quarterly at a rate of 6.25% beginning August 1, 2024. |
| July 22, 2024 | Date of the reported stock transaction (disposition of 2,100 shares). |
| July 26, 2024 | Date of signature for the Form 4 filing. |
| September 27, 2024 | Start date for quarterly vesting of 58,685 RSUs granted on March 27, 2023. |
| October 13, 2024 | Vesting date for 46,656 RSUs granted on October 13, 2022. |
| October 13, 2025 | Vesting date for 46,656 RSUs granted on October 13, 2022. |
| August 1, 2024 | Start date for quarterly vesting of 75,000 RSUs granted on March 27, 2024. |
| March 27, 2025 | Vesting date for 20,000 RSUs granted on March 27, 2024. |
| June 27, 2025 | Start date for quarterly vesting of the remaining 60,000 RSUs granted on March 27, 2024. |
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