D-Wave Quantum Inc. — Director's Dealing 2025

Dec 23, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: D-Wave Quantum Inc. (QBTS)
CIK: 0001907982
Period of Report: 2025-12-22

Reporting Person: BARATZ ALAN E (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-22	Common Stock, par value $0.0001 per share ("Common Stock")	M	793712	$0.91	Acquired	3426875	Direct
2025-12-22	Common Stock, par value $0.0001 per share ("Common Stock")	S	793712	$30.1282	Disposed	2633163	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-22	Stock Option (right to buy)	$0.91	M	793712	Disposed	2030-05-05	Common Stock, par value $0.0001 per share ("Common Stock") (793712)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$0.846	2034-01-10	Common Stock, par value $0.0001 per share ("Common Stock") (213232)	213232	Direct

Footnotes

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.

F2: Includes 735,087 shares of unvested restricted stock units.

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 $30.00 to $30.55, 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.

F4: This option has fully vested and, prior to the reported option exercise transaction, was exercisable as to 1,268,107 shares of Common Stock.

F5: This option has fully vested and is exercisable as of the date hereof as to 213,232 shares of Common Stock.