Markovich John M. 4

4 · D-Wave Quantum Inc. · Filed May 27, 2026

AI-generated summary of this filing

Updated May 27, 2026

D-Wave (QBTS) CFO John Markovich Sells Shares After Exercising Options

What happened

John M. Markovich, Chief Financial Officer of D-Wave Quantum Inc. (QBTS), exercised stock options and sold the resulting shares on May 22, 2026. He exercised two option tranches (207,926 shares @ $0.92 and 120,826 shares @ $0.85) for a combined exercise cost of $293,511, acquiring 328,752 shares. Those 328,752 shares were sold in the open market for a weighted-average price of $27.70, generating proceeds of approximately $9,107,647.
This is a sale (liquidity event) rather than a purchase; the filing shows the options were exercised and the shares were sold the same day, which is consistent with a cashless exercise and immediate sale.

Key details

Transaction date: 2026-05-22.
Option exercises: 207,926 shares @ $0.92 (cost $191,292) and 120,826 shares @ $0.85 (cost $102,219).
Open-market sale: 328,752 shares at weighted-average $27.70 for ~$9,107,647 (sales executed in multiple trades at prices between $27.00 and $28.61).
Footnotes:
- F1: Filing references 447,770 shares of unvested restricted stock units included in beneficial ownership reporting.
- F2: Reported sale price is a weighted average; per-share sale prices ranged $27.00–$28.61.
- F3/F4: Each option tranche was fully vested and exercisable prior to the exercise.
Shares owned after transaction: the Form 4 does not state a total post-transaction beneficial ownership figure in the provided excerpt; the filing does note unvested RSUs (see F1).
Filing timeliness: The Form 4 was filed 2026-05-27 for a 2026-05-22 transaction (filed after the typical two-business-day reporting window), so this appears to be a late filing.

Context

Derivative explanation: The "M" code denotes option exercises. Markovich exercised vested options to acquire shares and the same-day sale of those shares is consistent with a cashless exercise (exercise followed by immediate sale to realize proceeds).
For retail investors: sales by insiders are common for liquidity/tax reasons and do not by themselves signal positive or negative company prospects. Purchases are often more informative as a bullish signal; this transaction is a realized-sale event by the CFO.

Form 4

Period: 2026-05-22

Chief Financial Officer

Transactions

Exercise/Conversion
Common Stock, par value $0.0001 per share ("Common Stock")
[F1]
2026-05-22$0.92/sh+207,926$191,292→ 1,650,746 total
Exercise/Conversion
Common Stock, par value $0.0001 per share ("Common Stock")
[F1]
2026-05-22$0.85/sh+120,826$102,219→ 1,771,572 total
Sale
Common Stock, par value $0.0001 per share ("Common Stock")
[F2][F1]
2026-05-22$27.70/sh−328,752$9,107,647→ 1,442,820 total
Exercise/Conversion
Stock Option (right to buy)
[F3]
2026-05-22$0.92/sh−207,926$191,292→ 0 total
Exercise: $0.92Exp: 2031-08-20→ Common Stock, par value $0.0001 per share ("Common Stock") (207,926 underlying)
Exercise/Conversion
Stock Option (right to buy)
[F4]
2026-05-22$0.85/sh−120,826$102,219→ 0 total
Exercise: $0.85Exp: 2034-01-10→ Common Stock, par value $0.0001 per share ("Common Stock") (120,826 underlying)

Footnotes (4)

[F1]Includes 447,770 shares of unvested restricted stock units.
[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 $27.00 to $28.61, 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.
[F3]Prior to the reported option exercise transaction, this option had fully vested and was exercisable as to 207,926 shares of Common Stock.
[F4]Prior to the reported option exercise transaction, this option had fully vested and was exercisable as to 120,826 shares of Common Stock.

Signature

/s/ John M. Markovich|2026-05-27

1 file