John M. Markovich - 20 Nov 2025 Form 4 Insider Report for D-Wave Quantum Inc. (QBTS)

Role
Chief Financial Officer
Signature
/s/ John M. Markovich
Issuer symbol
QBTS
Transactions as of
20 Nov 2025
Transactions value $
-$4,588,000
Form type
4
Filing time
21 Nov 2025, 17:14:32 UTC
Previous filing
14 Nov 2025
Next filing
05 Dec 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Markovich John M. Chief Financial Officer 2650 EAST BAYSHORE ROAD, PALO ALTO /s/ John M. Markovich 21 Nov 2025 0001453942

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QBTS Common Stock, par value $0.0001 per share ("Common Stock") Options Exercise $184K +200K +13.49% $0.92 1.68M 20 Nov 2025 Direct F1, F2
transaction QBTS Common Stock, par value $0.0001 per share ("Common Stock") Sale -$4.59M -200K -11.88% $22.94 1.48M 20 Nov 2025 Direct F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction QBTS Stock Option (right to buy) Options Exercise -$184K -200K -28.25% $0.92 508K 20 Nov 2025 Common Stock, par value $0.0001 per share ("Common Stock") 200K $0.92 Direct F1, F4
holding QBTS Stock Option (right to buy) 121K 20 Nov 2025 Common Stock, par value $0.0001 per share ("Common Stock") 121K $0.85 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 The option exercise and sale of Common Stock reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 21, 2025.
F2 Includes 545,315 shares of unvested restricted stock units.
F3 The sales price reported is the weighted average sale price for the number of shares of Common Stock sold. These shares were sold in multiple transactions at prices ranging from $21.04 to $24.69, inclusive. Full information regarding the number of shares sold at each separate price will be supplied upon request by Securities and Exchange Commission Staff, the Issuer or a security holder of the Issuer.
F4 The option has fully vested and is exercisable as of the date hereof as to 707,926 shares of Common Stock.
F5 This option has fully vested and is exercisable as of the date hereof as to all 120,826 shares of Common Stock.