D-Wave Quantum Inc. Announces Significant Amendment to CEO Employment Agreement

PALO ALTO, CA, May 4, 2026 – D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing solutions, has announced material amendments to the employment agreement of its President and Chief Executive Officer, Dr. Alan Baratz. The changes, effective April 30, 2026, were filed with the SEC on Form 8-K and are detailed in a Third Amendment to Dr. Baratz’s Amended and Restated Employment Agreement.

Key Highlights for Investors

• CEO Base Salary Increased to \$700,000: Effective January 1, 2026, Dr. Baratz’s annual base salary will increase to \$700,000, paid in accordance with the company’s regular payroll schedule. This represents a significant adjustment in executive compensation and signals the Board’s confidence in Dr. Baratz’s leadership as the company advances its quantum technologies.
• Major RSU Grant Worth \$13.5 Million: Dr. Baratz will be awarded restricted stock units (RSUs) with an aggregate value of \$13,488,000 under the D-Wave 2022 Equity Incentive Plan. The number of RSUs will be determined based on the 60-day average share price prior to the Board’s approval of the grant. The RSUs will vest quarterly over a four-year period, from January 1, 2026, to December 31, 2029.
• Vesting and Award Details: The RSUs are subject to the terms of the D-Wave 2022 Equity Incentive Plan and will be further detailed in an award agreement. The grant is structured to retain and incentivize Dr. Baratz as D-Wave targets its next phase of growth and commercialization in the quantum computing sector.
• No Automatic Additional Grants: The agreement clarifies that Dr. Baratz will not be entitled to an additional RSU grant unless otherwise determined by D-Wave’s Board of Directors.

Potential Impact on Shareholders and Share Price

• Significant Equity Compensation: The size and structure of the RSU grant are substantial and align Dr. Baratz’s long-term incentives with shareholder interests. This could be viewed positively by the market, as it demonstrates strong executive alignment with company performance and long-term value creation.
• Retention and Leadership Continuity: Locking in the CEO through increased salary and multi-year equity vesting may reduce uncertainty around executive turnover, a factor that can support share price stability, especially in a high-growth, competitive field like quantum computing.
• Potential Dilution: Investors should note that the issuance of new RSUs may have a dilutive effect on existing shareholders, depending on the company’s total share count and the eventual number of RSUs granted. However, such dilution is commonly accepted when it is tied to performance-based incentives for key leadership.
• Market Reaction: Given the quantum industry’s sensitivity to executive leadership and D-Wave’s strategic position, these compensation changes may be viewed as a positive signal by investors, indicating confidence in future growth and value appreciation. However, the size of the award may also prompt scrutiny regarding compensation governance.

Additional Disclosures

• The full terms of the Third Amendment to the CEO Employment Agreement are available as Exhibit 10.1 in the SEC filing.
• The company’s common stock trades on the New York Stock Exchange under the symbol QBTS.
• D-Wave Quantum Inc. is incorporated in Delaware, with principal offices in Palo Alto, California.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or an offer to buy or sell any securities. Investors are encouraged to read the full SEC filing and consult with their financial advisors before making any investment decisions. The information presented is based on the company’s public filings as of May 4, 2026, and may be subject to change.

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