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

Dec 6, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: D-Wave Quantum Inc. (QBTS)
CIK: 0001907982
Period of Report: 2025-12-03

Reporting Person: Markovich John M. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-03	Common Stock, par value $0.0001 per share ("Common Stock")	M	100000	$0.92	Acquired	1582874	Direct
2025-12-03	Common Stock, par value $0.0001 per share ("Common Stock")	S	100000	$25.05	Disposed	1482874	Direct
2025-12-04	Common Stock, par value $0.0001 per share ("Common Stock")	M	100000	$0.92	Acquired	1582874	Direct
2025-12-04	Common Stock, par value $0.0001 per share ("Common Stock")	S	100000	$27.56	Disposed	1482874	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-03	Stock Option (right to buy)	$0.92	M	100000	Disposed	2031-08-20	Common Stock, par value $0.0001 per share ("Common Stock") (100000)	Direct
2025-12-04	Stock Option (right to buy)	$0.92	M	100000	Disposed	2031-08-20	Common Stock, par value $0.0001 per share ("Common Stock") (100000)	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") (120826)	120826	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 21, 2025.

F2: Includes 545,315 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 $25.00 to $25.165, 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: 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 $27.50 to $27.65, 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.

F5: The option has fully vested and is exercisable as of the date hereof as to 507,926 shares of Common Stock.

F6: The option has fully vested and is exercisable as of the date hereof as to 407,926 shares of Common Stock.

F7: This option has vested and is exercisable as of the grant date as to all 120,826 shares of Common Stock.