D-Wave Quantum CFO Exercises Options, Sells $4.6 Million in Shares, Raises Questions on Insider Activity and Stock Value

D-Wave Quantum CFO John M. Markovich sold 200,000 shares for $4.6 million, exercising 200,000 options and immediately selling the shares. This transaction is a liquidity event and represents 11.9% of his direct holdings. After the sale, Markovich holds 1.48 million shares worth $30.4 million. The sale price was above the closing price on November 22, 2025, and the company has generated a 597% total return over the past 12 months.