secwatch.observer — SEC 8-K summary
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Issuer:     D-Wave Quantum Inc. (QBTS)
CIK:        0001907982
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001907982-25-000086
Event type: other
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

D-Wave Quantum adopts severance policy and amends executive employment agreements
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- Severance policy adopted May 1, 2025 for CEO Alan Baratz, CFO John Markovich, and CAO Diane Nguyen.
- Non-CIC severance includes 12 months salary continuation; CEO also gets accelerated vesting on time-based equity.
- CIC severance: 1.0x (CEO 1.5x) of salary plus bonus, COBRA for 12–18 months, full equity acceleration.
- Employment agreements amended May 6, 2025 to align with the new severance policy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1907982/000190798225000086/0001907982-25-000086-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1907982/000190798225000086/qbts-20250501.htm
  HTML page:      https://secwatch.observer/filing/0001907982-25-000086

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer