The CEO's intent to sell a substantial stake (~$18M) after a stock option exercise is a bearish signal, especially given recent insider selling. Monitor for actual execution on Form 4 and any subsequent price weakness. The sale may be part of a pre-arranged 10b5-1 plan, but the size and timing warrant caution.
Price Chart
Executive Summary
CEO Alan Baratz filed a Form 144 to sell 687,627 shares of D-Wave Quantum Inc. (QBTS), valued at approximately $18.0 million based on the filing date. This represents a significant insider sale, signaling intent to monetize a large equity position following a stock option exercise.
Key Facts
- CEO Alan Baratz filed Form 144 to sell 687,627 shares of QBTS.
- Estimated sale value is approximately $18.0 million based on filing date.
- Shares were acquired via a stock option exercise on June 8, 2026.
- Sale is planned for execution on or after June 9, 2026, through J.P. Morgan Securities LLC.
- Recent insider activity (30 days) includes 3 other sales totaling $10.2 million.
- Company market cap is $8.7 billion; the proposed sale represents ~0.2% of market cap.
Financial Impact
CEO intends to sell ~$18.0 million in QBTS stock, representing a large insider monetization event.
Risk Factors
- CEO selling a large block could signal lack of confidence or peak valuation concerns.
- Potential overhang from the planned sale may pressure the stock near-term.
- If the sale is not part of a 10b5-1 plan, it could be viewed as opportunistic.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001974494-26-000226 |
| Document: 0001974494-26-000226-index.html | 0001974494-26-000226 |
| Document: 0001974494-26-000226.txt | 0001974494-26-000226 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | 8-K | $16.41 $17.11 | ▲ +4.27% | ▲ +3.45% | $16.34 (−0.40%) |
Sep 8, 2026 24d ago | 8-K | $17.67 $16.83 | ▼ −4.75% | ▼ −4.09% | $16.34 (−7.50%) |
Aug 25, 2026 5w ago | 8-K | $17.51 $16.49 | ▼ −5.83% | ▼ −5.71% | $16.34 (−6.65%) |
Aug 18, 2026 6w ago | 8-K | $19.53 $19.35 | ▼ −0.92% | ▼ −0.72% | $16.34 (−16.31%) |
Aug 17, 2026 6w ago | 8-K | $20.87 $18.68 | ▼ −10.49% | ▼ −9.30% | $16.34 (−21.68%) |
Aug 6, 2026 8w ago | 8-K | $19.41 $20.90 | ▲ +7.70% | ▲ +6.49% | $16.34 (−15.77%) |
Aug 3, 2026 8w ago | 8-K | $19.98 $16.21 | ▼ −18.87% | ▼ −20.90% | $16.34 (−18.19%) |
Jul 27, 2026 9w ago | 8-K | $19.51 $18.08 | ▼ −7.33% | ▼ −8.40% | $16.34 (−16.22%) |
Jul 24, 2026 10w ago | 8-K | $16.21 $17.98 | ▲ +10.92% | ▲ +10.55% | $16.34 (+0.83%) |
Jul 14, 2026 11w ago | 8-K | $18.95 $16.72 | ▼ −11.77% | ▼ −10.47% | $16.34 (−13.75%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access