QBTS director reports small insider purchase and updated holdings

Rhea-AI Filing Summary

D-Wave Quantum Inc. director reports small stock purchase

A director of D-Wave Quantum Inc. (QBTS) reported buying 82 shares of common stock on 11/18/2025 at a price of $21.89 per share. These shares are held indirectly through the director's spouse.

After this transaction, the director reports 19,837 shares held directly, which includes 17,978 unvested restricted stock units, and 118,840 shares held indirectly through the West-Karam Family Trust, where the director is trustee and a beneficiary. The director formally disclaims beneficial ownership of the shares held by the spouse for certain legal purposes.

Insider Trade Summary

Net Buyer: 82 shares ($1,795)

Net Buy 3 txns

Insider WEST STEVEN M

Role Director

Bought 82 shs ($2K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.0001 per share ("Common Stock")	82	$21.89	$2K
holding	Common Stock, par value $0.0001 per share ("Common Stock")	--	--	--
holding	Common Stock, par value $0.0001 per share ("Common Stock")	--	--	--

Holdings After Transaction: Common Stock, par value $0.0001 per share ("Common Stock") — 82 shares (Indirect, By spouse); Common Stock, par value $0.0001 per share ("Common Stock") — 19,837 shares (Direct)

Footnotes (1)

1. The reporting person disclaims beneficial ownership of these shares of Common Stock, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares of Common Stock for purposes of Section 16 or for any other purpose. Includes 17,978 unvested restricted stock units. West-Karam Family Trust is the record holder of such securities. The reporting person is trustee of the West-Karam Family Trust, of which the reporting person and members of the reporting person's immediate family are the sole beneficiaries. The reporting person remains the beneficial owner of the securities held by the trust.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

WEST STEVEN M

(Last) (First) (Middle)

C/O D-WAVE QUANTUM INC.

2650 EAST BAYSHORE ROAD

(Street)

PALO ALTO CA 94303

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
D-Wave Quantum Inc. [ QBTS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.0001 per share ("Common Stock")	11/18/2025		P		82	A	$21.89	82(1)	I	By spouse
Common Stock, par value $0.0001 per share ("Common Stock")								19,837(2)	D
Common Stock, par value $0.0001 per share ("Common Stock")								118,840	I	See Footnote(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reporting person disclaims beneficial ownership of these shares of Common Stock, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares of Common Stock for purposes of Section 16 or for any other purpose.

2. Includes 17,978 unvested restricted stock units.

3. West-Karam Family Trust is the record holder of such securities. The reporting person is trustee of the West-Karam Family Trust, of which the reporting person and members of the reporting person's immediate family are the sole beneficiaries. The reporting person remains the beneficial owner of the securities held by the trust.

Remarks:

	/s/ Steven West	11/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did D-Wave Quantum (QBTS) report on this Form 4?

A director of D-Wave Quantum Inc. (QBTS) reported purchasing 82 shares of common stock on 11/18/2025 at $21.89 per share in an indirect transaction through the director's spouse.

How many D-Wave Quantum (QBTS) shares does the director own after the reported transaction?

Following the transaction, the director reports 82 shares held indirectly by a spouse, 19,837 shares held directly (including 17,978 unvested RSUs), and 118,840 shares held indirectly through the West-Karam Family Trust.

What is the relationship of the reporting person to D-Wave Quantum Inc. (QBTS)?

The reporting person serves as a director of D-Wave Quantum Inc. (QBTS) and filed this Form 4 as a single reporting person.

How are the trust-held D-Wave Quantum (QBTS) shares owned by the director characterized?

The West-Karam Family Trust is the record holder of 118,840 shares. The director is the trustee, and the director and immediate family members are the sole beneficiaries, so the director remains the beneficial owner of those securities.

What does the director disclose about beneficial ownership of the spouse-held QBTS shares?

The director disclaims beneficial ownership of the 82 shares held by the spouse, stating that this report should not be deemed an admission of beneficial ownership for Section 16 or any other purpose.