D-Wave Quantum (QBTS) director unloads 7,850 shares at $23–26 range

Rhea-AI Filing Summary

D-Wave Quantum Inc. director John D. DiLullo sold 7,850 shares of Common Stock in an open-market transaction under a pre-arranged Rule 10b5-1 trading plan. The weighted average sale price was $24.43 per share, with individual trades between $23.33 and $26.28.

After the sale, DiLullo held 21,310 shares directly, which the filing notes includes 9,357 unvested restricted stock units. Because the trade was executed pursuant to a Rule 10b5-1 plan adopted in advance, the timing appears to reflect a scheduled diversification step rather than a discretionary market-timing decision.

Insights

Insider transactions analyst

Routine 10b5-1 plan sale by a director with meaningful remaining stake.

John D. DiLullo, a director of D-Wave Quantum Inc., executed an open-market sale of 7,850 Common Stock shares at a weighted average of $24.4343 per share. This was a straightforward non-derivative transaction, with no option exercises or conversions reported.

The filing specifies the sale occurred automatically under a Rule 10b5-1 trading plan adopted on June 15, 2025, indicating it was pre-scheduled rather than opportunistic. Following the sale, DiLullo directly held 21,310 shares, including 9,357 unvested restricted stock units, so he retains ongoing equity exposure.

Given the pre-planned nature, absence of derivative activity, and the continued holding of shares and RSUs, this looks like a routine portfolio management move. On its own, it does not materially alter the investment picture for D-Wave Quantum Inc., so the overall signal from this filing is neutral.

Insider Trade Summary 10b5-1

Net Seller: 7,850 shares

Net Sell 1 txn

Insider DiLullo John D

Role Director

Sold 7,850 shs ($192K)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $0.0001 per share ("Common Stock")	7,850	$24.4343	$192K

Holdings After Transaction: Common Stock, par value $0.0001 per share ("Common Stock") — 21,310 shares (Direct)

Footnotes (3)

1. F1. The reported sale of 7,850 shares of Common Stock occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 15, 2025.
2. F2. 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 $23.33 to $26.28, 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.
3. F3. Includes 9,357 unvested restricted stock units.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/08/2026 - 04:14 PM Accepted by SEC EDGAR 06/08/2026 - 04:14 PM Learn about SEC filing dates

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).

X

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^*

DiLullo John D

(Last) (First) (Middle)

C/O D-WAVE QUANTUM INC.

2650 E BAYSHORE RD

(Street)

PALO ALTO CALIFORNIA 94303

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2026

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

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

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

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")	06/05/2026		S		7,850(1)	D	$24.4343(2)	21,310(3)	D

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 reported sale of 7,850 shares of Common Stock occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 15, 2025.

2. 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 $23.33 to $26.28, 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.

3. Includes 9,357 unvested restricted stock units.

Remarks:

	/s/ John D. DiLullo	06/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)