D-Wave Quantum (QBTS) awards 9,357 RSUs to director West
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
WEST STEVEN M reported acquisition or exercise transactions in this Form 4 filing.
D-Wave Quantum Inc. director Steven M. West reported a new equity award of 9,357 restricted stock units (RSUs). These RSUs each represent one share of common stock and will vest on May 31, 2027, subject to his continued service with the company.
Following this grant, West directly holds 29,194 shares of common stock. He also has indirect interests, including shares held by the West-Karam Family Trust, where he serves as trustee and remains the beneficial owner, and a small number of shares held by his spouse, for which he disclaims beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
WEST STEVEN M
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock, par value $0.0001 per share ("Common Stock") | 9,357 | $0.00 | -- |
| 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") — 29,194 shares (Direct, null);
Common Stock, par value $0.0001 per share ("Common Stock") — 82 shares (Indirect, By spouse)
Footnotes (1)
- Consists of restricted stock units ("RSUs"), each RSU representing the right to receive one share of Common Stock of the Issuer, that will vest on May 31, 2027, subject to the reporting person's continued service to the Issuer. Includes 9,357 unvested RSUs. 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. 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.
Key Figures
RSU grant: 9,357 RSUs
RSU vesting date: May 31, 2027
Direct common shares after grant: 29,194 shares
+3 more
6 metrics
RSU grant
9,357 RSUs
Equity award to director; each RSU equals one common share
RSU vesting date
May 31, 2027
Vesting contingent on continued service to the issuer
Direct common shares after grant
29,194 shares
Total direct ownership following the RSU award
Indirect trust holdings
118,840 shares
Held by West-Karam Family Trust; West remains beneficial owner
Spouse-held shares
82 shares
Held by spouse; beneficial ownership disclaimed by West
Grant price per share
$0.00 per share
Reported price for the RSU grant as compensation
Key Terms
restricted stock units ("RSUs"), Section 16, West-Karam Family Trust
3 terms
restricted stock units ("RSUs") financial
"Consists of restricted stock units ("RSUs"), each RSU representing the right to receive one share of Common Stock"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Section 16 regulatory
"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"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
West-Karam Family Trust financial
"West-Karam Family Trust is the record holder of such securities. The reporting person is trustee of the West-Karam Family Trust"
FAQ
What insider transaction did D-Wave Quantum (QBTS) director Steven M. West report?
Steven M. West reported receiving 9,357 restricted stock units (RSUs) in D-Wave Quantum common stock. The award is a form of equity compensation and increases his direct shareholdings, aligning his interests more closely with other shareholders over the vesting period.
When do Steven M. West’s 9,357 D-Wave Quantum RSUs vest?
The 9,357 RSUs granted to Steven M. West vest on May 31, 2027, subject to his continued service. Vesting means he will receive one share of D-Wave Quantum common stock for each RSU that becomes fully vested on that date.
What is the role of the West-Karam Family Trust in Steven M. West’s D-Wave Quantum holdings?
The West-Karam Family Trust is the record holder of certain D-Wave Quantum securities. Steven M. West is the trustee, and he and his immediate family are beneficiaries. The filing states he remains the beneficial owner of the securities held by this trust.
Is Steven M. West’s 9,357 RSU award in D-Wave Quantum an open-market purchase?
No. The 9,357 D-Wave Quantum RSUs reported are a grant or award, not an open-market purchase. They were granted at a reported price of $0.00 per share as equity compensation, to vest later if service conditions are satisfied.