Every Form 4 that D-Wave Quantum Inc. (QBTS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow QBTS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full QBTS filings page.
D-Wave Quantum Inc. director transaction: A board member reported selling 7,000 shares of D-Wave Quantum Inc. common stock on 12/03/2025 at a price of $22.62 per share. After this sale, the reporting person beneficially owns 112,673 shares of common stock, which includes 14,260 shares of unvested restricted stock units.
D-Wave Quantum Inc. reported insider transactions by its Chief Financial Officer, John M. Markovich. On December 3, 2025, he exercised stock options to acquire 100,000 shares of common stock at an exercise price of $0.92 per share and sold 100,000 shares of common stock at a weighted average price of $25.05. On December 4, 2025, he again exercised options for 100,000 shares at $0.92 and sold 100,000 shares at a weighted average price of $27.56. These trades were made under a Rule 10b5-1 trading plan adopted on August 21, 2025. After the reported transactions, he beneficially owns 1,482,874 shares of common stock, including 545,315 unvested restricted stock units and multiple stock option awards with exercise prices of $0.92 and $0.846 per share.
D-Wave Quantum Inc. (QBTS) director John D. DiLullo filed a Form 4 reporting a change in his holdings of the company’s common stock. On 11/21/2025, he reported a transaction coded "G," indicating a gift of 492 shares of common stock at a reported price of $0 per share. After this transaction, he beneficially owns 35,803 shares of D-Wave Quantum common stock.
The filing notes that this remaining position includes 14,260 unvested restricted stock units, which are rights to receive shares in the future subject to vesting conditions. The form is filed as an individual filing by one reporting person in his capacity as a director of the company.
D-Wave Quantum Inc. (QBTS) Chief Financial Officer John M. Markovich reported an option exercise and share sale involving the company’s common stock. On 11/20/2025 he exercised a stock option to acquire 200,000 shares of common stock at an exercise price of $0.92 per share, then sold 200,000 shares of common stock on the same date at a weighted average price of $22.94 per share, in multiple transactions.
The filing states that the option exercise and sale were effected under a Rule 10b5-1 trading plan adopted on August 21, 2025. After these transactions, he beneficially owns 1,482,874 shares of common stock, including 545,315 unvested restricted stock units, held directly. He also holds fully vested stock options exercisable for 707,926 shares at $0.92 per share (expiring 08/20/2031) and options exercisable for 120,826 shares at $0.846 per share (expiring 01/10/2034).
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.
D‑Wave Quantum (QBTS) reported an insider transaction by its EVP, Chief Legal Officer & GC. On 11/13/2025, the officer sold 20,000 shares of common stock at a weighted average $23.6641 under a Rule 10b5‑1 plan adopted on August 14, 2025. The filing also notes a separate sale of 2,803 shares to cover taxes upon RSU vesting at a weighted average $23.1744.
Following these transactions, the reporting person beneficially owned 566,042 shares, which includes 224,613 unvested RSUs. Price ranges were disclosed as $23.00–$25.26 for the 20,000-share sale and $23.00–$23.435 for the sell‑to‑cover.
D-Wave Quantum Inc. (QBTS) insider activity: On 11/13/2025, President & CEO and Director Alan Baratz sold 168,102 shares of Common Stock in a mandated “sell to cover” related to RSU vesting to satisfy statutory tax withholding. The weighted average sale price was $23.1744, with trades between $23.00 and $23.435. Following the transaction, he beneficially owned 2,633,163 shares, which includes 735,087 unvested restricted stock units.
D-Wave Quantum (QBTS) filed a Form 4 for its CFO, John M. Markovich. On 11/13/2025, he sold 98,060 shares of Common Stock at a weighted average price of $23.1744. The filing states the sale was a mandated “sell to cover” to satisfy statutory tax withholding upon RSU vesting and was not a discretionary trade.
Following the transaction, he beneficially owns 1,482,874 shares, which include 545,315 unvested restricted stock units. Ownership is reported as direct.
D-Wave Quantum (QBTS) reported an insider transaction by President & CEO and director Alan Baratz. On 11/11/2025, he exercised stock options for 806,288 shares at $0.91 and sold 806,288 shares at a weighted average price of $28.8686 under a Rule 10b5-1 trading plan adopted on August 11, 2025. The sales occurred in multiple trades between $28.00 and $30.02.
Following the transactions, Baratz directly beneficially owned 2,801,265 shares, which includes 1,110,087 unvested restricted stock units. Derivative holdings reported after the transactions include options for 1,268,107 shares at $0.91 expiring on 05/05/2030, and options for 213,232 shares at $0.846 expiring on 01/10/2034.
D‑Wave Quantum (QBTS) Form 4: EVP, Chief Legal Officer & GC Diane Nguyen reported a sale of Common Stock on 10/14/2025. The filing shows 20,827 shares sold at a weighted average price of $43.7434 to cover statutory tax withholding upon RSU vesting. The issuer mandates a “sell to cover” approach under its equity incentive plans, so this was not a discretionary trade.
Following the transaction, the reporting person beneficially owns 588,845 shares, which includes 230,863 unvested restricted stock units. The sales occurred in multiple trades between $43.65 and $44.06, and the ownership is held directly.
D-Wave Quantum Inc. (QBTS) reported an insider transaction by its Chief Financial Officer. On 10/14/2025, the CFO sold 7,994 shares of Common Stock at a weighted average price of $43.7434, with trades executed between $43.65 and $44.06. The filing states this was a mandated “sell to cover” to satisfy statutory tax withholding upon RSU vesting, not a discretionary trade.
Following the transaction, the officer beneficially owns 1,580,934 shares, which includes 764,065 unvested RSUs. Ownership is reported as direct.
D‑Wave Quantum (QBTS) insider transaction: President & CEO and Director Alan Baratz reported a sale of 31,369 shares of Common Stock on 10/14/2025 at a weighted average price of $43.7434. The filing states this was a mandated “sell to cover” to satisfy statutory tax withholding upon RSU vesting, not a discretionary trade. Following the transaction, he beneficially owned 2,801,265 shares, which includes 1,110,087 unvested RSUs. The reported sales occurred across prices ranging from $43.65 to $44.06.