Alan E. Baratz - 11 Nov 2025 Form 4 Insider Report for D-Wave Quantum Inc. (QBTS)

Reporting relationship: President & CEO, Director
Issuer ticker: QBTS
Reported as of: 11 Nov 2025
Net transaction value: -$23,276,406
SEC form: 4
Accepted by SEC: 13 Nov 2025, 17:37:56 UTC
Prior SEC filing: 15 Oct 2025
Next SEC filing: 14 Nov 2025
Source filing: View source filing
Reporting owner signature: /s/ Alan Baratz

Key filing fact

Alan E. Baratz filed Form 4 for D-Wave Quantum Inc. (QBTS) on 13 Nov 2025.

Key facts

This page summarizes Alan E. Baratz's Form 4 filing for D-Wave Quantum Inc. (QBTS).
3 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 13 Nov 2025, 17:37.

Change

Previous filing in this sequence was filed on 15 Oct 2025.
Current net transaction value: -$23,276,406.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001098231 Primary reporting owner

BARATZ ALAN E

Relationship: President & CEO, Director
Address: 2650 EAST BAYSHORE ROAD, PALO ALTO
Signature: /s/ Alan Baratz
Signature date: 13 Nov 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

QBTS transaction

Common Stock, par value $0.0001 per share ("Common Stock")

Options Exercise

Transaction value: $733,722
Shares: +806,288
Change %: +29%
Price: $0.9100
Shares after: 3,607,553
Date: 11 Nov 2025
Ownership: Direct
Footnotes: F1, F2

QBTS transaction

Common Stock, par value $0.0001 per share ("Common Stock")

Sale

Transaction value: $23,276,406
Shares: -806,288
Change %: -22%
Price: $28.87
Shares after: 2,801,265
Date: 11 Nov 2025
Ownership: Direct
Footnotes: F1, F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

QBTS transaction Derivative

Stock Option (right to buy)

Options Exercise

Transaction value: $733,722
Shares: -806,288
Change %: -39%
Price: $0.9100
Shares after: 1,268,107
Date: 11 Nov 2025
Ownership: Direct
Underlying class: Common Stock, par value $0.0001 per share ("Common Stock")
Underlying amount: 806,288
Exercise price: $0.9100
Footnotes: F1, F4

QBTS holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 213,232
Date: 11 Nov 2025
Ownership: Direct
Underlying class: Common Stock, par value $0.0001 per share ("Common Stock")
Underlying amount: 213,232
Exercise price: $0.8460
Footnotes: F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 5 footnotes

Footnote F1

The option exercise and sale of Common Stock reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 11, 2025.

Footnote F2

Includes 1,110,087 shares of unvested restricted stock units.

Footnote F3

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 $28.00 to $30.02, 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.

Footnote F4

This option has fully vested and is exercisable as of the date hereof as to 2,074,395 shares of Common Stock.

Footnote F5

This option has fully vested and is exercisable as of the date hereof as to 213,232 shares of Common Stock.