QBTS Form 144: Insider Plans Sale of 50,000 Shares Worth $875K

D-Wave Quantum Inc. (QBTS) Form 144: An individual reported a proposed sale of 50,000 shares of common stock to be executed through J.P.

Rhea-AI Filing Summary

D-Wave Quantum Inc. (QBTS) Form 144: An individual reported a proposed sale of 50,000 shares of common stock to be executed through J.P. Morgan Securities LLC on 09/12/2025 with an aggregate market value listed at $875,000. The filing states the shares were acquired by stock option exercise on 09/12/2025 and paid for in cash on 09/15/2025. The issuer's outstanding shares are reported as 266,568,046, which places the proposed sale at a small fraction of total shares. The filer also disclosed three recent sales by John Markovich totaling 200,000 shares during August–September 2025 with combined gross proceeds of $3,745,000. The notice includes the standard signer representation about lack of undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Insider disclosed modest share sales and a proposed sale; transaction sizes are small relative to outstanding shares.

The Form 144 shows a proposed brokered sale of 50,000 shares valued at $875,000 and prior insider sales totaling 200,000 shares for $3,745,000. Compared with 266.6 million shares outstanding, these transactions represent immaterial percentages of the float. The filing documents an exercise of stock options and cash payment, and uses a registered broker, which aligns with standard Rule 144 disclosures. From a market-impact perspective, the disclosed volumes are unlikely to move broad market pricing but are relevant for tracking insider liquidity.

Corporate Governance Expert

TL;DR: The filer complied with Rule 144 reporting, including acquisition details and recent sales; disclosures appear complete.

The form provides required details: acquisition date (09/12/2025), nature of acquisition (stock option exercise), payment date, broker identity, and past three-month sales by the same individual. The signature attestation language is present. There is no indication in the filing of undisclosed material information or of a trading plan date. For governance monitoring, this is a routine insider liquidity disclosure rather than a governance event.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the QBTS Form 144 disclose about the proposed sale?

The filing discloses a proposed sale of 50,000 shares of common stock through J.P. Morgan Securities LLC on 09/12/2025 with an aggregate market value of $875,000.

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

The shares were acquired by stock option exercise on 09/12/2025 and the payment method is listed as cash with a payment date of 09/15/2025.

What prior insider sales are reported in the filing?

The filer disclosed three sales by John Markovich: 100,000 shares on 08/12/2025 for $1,800,000, 50,000 shares on 09/10/2025 for $815,000, and 50,000 shares on 09/11/2025 for $815,000.

How large is the proposed sale relative to outstanding shares?

The issuer reports 266,568,046 shares outstanding; the 50,000-share proposed sale equals approximately 0.019% of outstanding shares.

Which broker is handling the proposed sale?

The proposed sale is listed as to be executed by J.P. Morgan Securities LLC located at 390 Madison Avenue, New York, NY.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/12/2025 - 03:58 PM Learn about SEC filing dates

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	0001453942
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	D-Wave Quantum Inc.
SEC File Number	001-41468
Address of Issuer	2650 East Bayshore Road Palo Alto CALIFORNIA 94303
Phone	604-630-1428
Name of Person for Whose Account the Securities are To Be Sold	John Markovich
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	Affiliate

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	875000	266568046	09/12/2025	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	09/12/2025	Stock Option Exercise	D-Wave Quantum Inc. (Issuer)			50000	09/15/2025	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
John Markovich C/O D-Wave Quantum Inc. 2650 Bayshore Road Palo Alto CA 94303	Common	09/10/2025	50000	815000
John Markovich C/O D-Wave Quantum Inc. 2650 Bayshore Road Palo Alto CA 94303	Common	09/11/2025	50000	815000

144: Remarks and Signature

Remarks
Date of Notice	09/12/2025
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	J.P. Morgan Securities LLC, Workplace Solutions, as Agent and Attorney in Fact for John Markovich, D-Wave Quantum
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)