Welcome to our dedicated page for D Wave Quantum SEC filings (Ticker: QBTS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
D-Wave Quantum Inc. filings document the regulatory record for a public quantum computing company that develops annealing and gate-model systems, software and services. The company’s Form 8-K disclosures include operating results, financial-condition updates, investor presentations, Regulation FD announcements, customer and collaboration developments, user conferences and product or technical updates.
Proxy and governance filings cover board matters, executive compensation, equity awards and shareholder voting items. Other material-event filings describe compensation arrangements, the company’s equity incentive plan, subsidiary agreements and formal disclosures tied to its commercial quantum computing business.
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. reported that it has completed the redemption of all of its outstanding public warrants to purchase common stock. Before the November 19, 2025 redemption date, 4,746,358 warrants were exercised for approximately 6.9 million shares of common stock at an exercise price of $11.50 per warrant, generating cash proceeds of approximately $54.6 million for the company.
As of the redemption deadline, 270,820 warrants remained unexercised and were redeemed at $0.01 per warrant, for a total redemption price of $2,708.20 under the warrant agreement terms. Following this redemption, no public warrants remain outstanding. The warrants stopped trading on the NYSE with a trading suspension effective November 18, 2025, while the common stock continues to trade under the symbol QBTS.
D-Wave Quantum, Inc. (QBTS) is the issuer in a Form 144 notice covering a planned sale of 500,000 shares of its common stock on the NYSE through J.P. Morgan Securities LLC. The shares have an stated aggregate market value of $11,720,000 and are part of 346,718,581 shares outstanding as listed in the filing.
The securities to be sold were acquired on 11/20/2025 via a stock option exercise from the issuer, paid in cash on the same date. The person filing, John M. Markovich, also reported several sales of D-Wave Quantum common stock during the prior three months, including a sale of 98,060 shares on 11/13/2025 for gross proceeds of $2,272,482.
D-Wave Quantum Inc. has filed a Form 25 indicating that its warrants, each exercisable for 1.4541326 shares of common stock at an exercise price of $11.50, are being removed from listing and registration on the New York Stock Exchange LLC under Section 12(b) of the Securities Exchange Act of 1934. The exchange certifies that it has followed its own rules and the requirements of 17 CFR 240.12d2-2 for striking this class of securities from listing and/or withdrawing their registration. This action affects only the specified warrant class and not other securities mentioned elsewhere for the company.
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.