[144] D-Wave Quantum Inc. SEC Filing

Rhea-AI Filing Summary

D-Wave Quantum Inc. (QBTS) filed a Form 144 notifying a proposed sale of 50,000 shares of common stock through J.P. Morgan Securities LLC with an aggregate market value of $315,000. The filing reports approximately 266,568,046 shares outstanding and lists an approximate sale date of 09/10/2025 on the NYSE. The shares were acquired on 09/10/2025 by stock option exercise from the issuer and payment was made in cash on 09/11/2025. The filer also reported a sale during the past three months: 100,000 shares sold on 08/12/2025 by John Markovich for gross proceeds of $1,800,000. The notice includes the standard representation that the seller is unaware of undisclosed material adverse information.

Positive

• Compliance disclosure filed under Rule 144 with broker and sale details provided
• Acquisition method disclosed (stock option exercise) and payment timing documented
• Past three-month sales reported (100,000 shares for $1,800,000), supporting transparency

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider Form 144 disclosing a small sale request and a recent larger sale; follows disclosure requirements.

The filing documents a proposed sale of 50,000 common shares through a broker and discloses a prior sale of 100,000 shares yielding $1.8 million. The acquisition of the 50,000 shares was by stock option exercise with cash payment recorded the day after acquisition. For investors, this is a compliance disclosure rather than a company operational update; it signals insider liquidity but does not, on its face, provide material information about company performance.

Corporate Governance Expert

TL;DR: Filing meets Rule 144 reporting requirements and includes required insider attestations.

The Form 144 lists broker routing, share counts, acquisition method, and prior three-month sales, and includes the attestation regarding material nonpublic information and potential 10b5-1 plan language. Documentation appears complete for a Rule 144 notice: issuer, broker, share counts, acquisition details, and past sales are presented, supporting transparent insider reporting.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	J.P. Morgan Securities LLC 390 Madison Avenue Floor 6 New York NY 10017	50000	315000	266568046	09/10/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/10/2025	Stock Option Exercise	D-Wave Quantum Inc. (Issuer)			50000	09/11/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
John Markovich C/O D-Wave Quantum Inc. 2650 Bayshore Road Palo Alto CA 94303	Common	08/12/2025	100000	1800000

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed by D-Wave (QBTS) disclose?

The notice discloses a proposed sale of 50,000 common shares through J.P. Morgan with an aggregate market value of $315,000 and an approximate sale date of 09/10/2025.

How were the 50,000 shares acquired according to the filing?

The filing states the 50,000 shares were acquired on 09/10/2025 by stock option exercise from D-Wave Quantum Inc., with payment in cash on 09/11/2025.

Did the filer sell any D-Wave shares in the past three months?

Yes. The filing reports that John Markovich sold 100,000 common shares on 08/12/2025 for gross proceeds of $1,800,000.

What representation does the seller make in the Form 144?

The seller represents they do not know of any material adverse information about the issuer that has not been publicly disclosed.