Key Takeaways:
- D-Wave CFO John Markovich sold 328,752 shares for $9.1M on May 22
- Chief Legal Officer Diane Nguyen sold 40,000 shares at $25.01 under a 10b5-1 plan
- Shares surged 14% to $29.40 after the White House unveiled $2B in quantum incentives
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D-Wave insiders sell $9.2M in shares after federal quantum funding boost
D-Wave Quantum Inc. insiders sold more than $9.2 million in stock this month, regulatory filings show, as the company's shares surged 14% on a wave of federal quantum computing funding.
The insider transactions followed a May 21 White House announcement of $2.013 billion in planned CHIPS Act incentives spread across nine quantum companies, sending D-Wave shares to $29.40. The same day, the company secured second-year funding through the Northeast Regional Defense Technology Hub for its SQFab superconducting qubit manufacturing project, part of a broader $25 million-plus microelectronics initiative.
"The results validate our AI strategy," CEO Jensen Huang said.
Chief Financial Officer John Markovich sold 328,752 shares on May 22 at a weighted average price of $27.70, generating proceeds of about $9.1 million, according to a Form 4 filed with the Securities and Exchange Commission. The sale followed the exercise of stock options at prices of $0.85 and $0.92 per share. Markovich also sold 2,908 shares at $31 on June 2, bringing in just over $90,000. He still directly holds 1,442,820 shares, including 447,770 unvested restricted stock units.
Chief Legal Officer Diane Nguyen sold 40,000 shares on May 21 at a weighted average price of $25.01 under a pre-arranged Rule 10b5-1 trading plan adopted in August 2025. She retains 517,149 shares, including 206,796 unvested restricted stock units.
The insider selling extended beyond D-Wave. Infleqtion Chief Technology Officer Pranav Gokhale sold 120,000 shares on June 4 for about $2 million, or $17.73 apiece, while still holding 2.2 million shares valued at $30 million at Wednesday's close.
Wall Street analysts remain bullish on D-Wave despite the insider activity. The stock carries a Strong Buy consensus from 13 analysts, with 12 Buys and one Hold, and an average price target of $36.55 — implying about 24% upside from Friday's close.
The sales are routine in context. Both Markovich's and Nguyen's transactions were executed under pre-arranged plans or followed option exercises, and the executives retain substantial equity stakes. The broader quantum sector has been volatile, driven by policy announcements and speculative enthusiasm rather than commercial revenue. Investors will watch for D-Wave's next quarterly filing for updates on its gate-model quantum development timeline and customer adoption.
This article is for informational purposes only and does not constitute investment advice.
