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D-Wave Quantum Executive Compensation (FY25)

QBTS · Palo Alto, CA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): June 8, 2026
105 figures on this page: 104 cited to the filing that reported them, 1 calculated from figures it prints. See the citations
Total compensation for Alan Baratz, President, Chief Executive Officer and Director, came to $5,170,467 in fiscal 2025, and Baratz's total moved 200.2% higher from the $1,722,500 reported for fiscal 2024. The say-on-pay proposal drew 95.2% of votes cast for or against in favor at the meeting held June 4, 2026 for fiscal 2025. The disclosed peer group includes Altimmune, Applied Digital, Archer Aviation, Arqit Quantum and Aurora Innovation, among others. The fiscal 2025 disclosure covers 3 named executive officers.
Chief executive, fiscal 2025
◇
Alan Baratz
Latest say-on-pay support
=
June 4, 2026
This company is not required to report a chief executive pay ratio.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Alan Baratz: $1,722,500 → $5,170,467 (200.2% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is D-Wave Quantum's chief executive and what were they paid?
Total compensation for Alan Baratz, President, Chief Executive Officer and Director, came to $5,170,467 in fiscal 2025. Baratz's total moved 200.2% higher from the $1,722,500 reported for fiscal 2024.
What was D-Wave Quantum's say-on-pay result?
The say-on-pay proposal drew 95.2% of votes cast for or against in favor at the meeting held June 4, 2026 for fiscal 2025.
Which companies are in D-Wave Quantum's peer group?
The disclosed peer group includes Altimmune, Applied Digital, Archer Aviation, Arqit Quantum and Aurora Innovation, among others.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Alan Baratz
President & Chief Executive Officer, Director
◇—◇—◇—◇◇
John Markovich
Chief Financial Officer
◇—◇—◇—◇◇
Victoria Brydon
Senior Vice President, People and Operational Excellence
◇—◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Alan Baratz
President & Chief Executive Officer, Director
◇—◇—◇——◇
John Markovich
Chief Financial Officer
◇—◇—◇——◇
Diane Nguyen
General Counsel
◇—◇—◇——◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Alan Baratz
President & Chief Executive Officer, Director
◇—◇—◇——◇
John Markovich
Chief Financial Officer
◇—◇—◇——◇
Diane Nguyen
General Counsel
◇—◇◇◇——◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Alan Baratz
President, Chief Executive Officer and Director
◇—◇—◇——◇
John Markovich
Executive Vice President and Chief Financial Officer
◇—◇—◇——◇
Diane Nguyen
Executive Vice President, Chief Legal Officer and General Counsel
◇—◇—◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Alan E. BaratzRSU◇——◇——◇
Diane NguyenRSU◇——◇——◇
Diane NguyenRSU◇——◇——◇
John M. MarkovichRSU◇——◇——◇
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Diane NguyenRSU◇◇——
Option◇—◇—
Alan BaratzRSU◇◇——
John MarkovichRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Diane Nguyen
Executive Vice President, Chief Legal Officer and General Counsel · Terms as described in the company’s compensation discussion · citing a 2026 filing
Non-solicit period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven M. West
Board chair
◇◇————◇
Roger Biscay
◇◇————◇
Rohit Ghai
◇◇————◇
Kirstjen Nielsen
◇◇————◇
Sharon Holt
◇◇————◇
John D. DiLullo
◇◇————◇
Alan E. Baratz served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Altimmune ALT
  • Applied Digital APLD
  • Archer Aviation ACHR
  • Arqit Quantum ARQQ
  • Aurora Innovation AUR
  • Caribou Biosciences CRBU
  • Digimarc DMRC
  • Domo DOMO
  • Expensify EXFY
  • Firefly Aerospace FLY
  • IGM Biosciences IGMS
  • Inhibrx Biosciences INBX
  • IonQ IONQ
  • iTeos Therapeutics ITOS
  • Joby Aviation JOBY
  • Kodiak Sciences KOD
  • Quantum Computing Inc. QUBT
  • Quantum Corporation QMCO
  • Red Violet RDVT
  • ReposiTrak TRAK
  • Rigetti Computing RGTI
  • SoundHound AI SOUN
  • Telos TLS
  • Veritone VERI
  • Verve Therapeutics VERV

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 4, 2026=◇◇◇
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What this page does not include

Everything above is a fact D-Wave Quantum disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where D-Wave Quantum sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
105 figures on this page: 104 cited to the filing that reported them, 1 calculated from figures it prints.
104 cited to the filing
1 calculated from the filing

Documents cited

  1. 0001907982-26-000084
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001907982-26-000040
    CD&A Potential Payments · DIRECTOR COMPENSATION · Non-Employee Director Compensation Table · Outstanding Equity Awards at 2025 Fiscal Year-End · and 1 more section
  3. 0001140361-25-014910
    Summary Compensation Table
  4. 0001140361-24-021424
    Summary Compensation Table
  5. 0001140361-23-019759
    Summary Compensation Table
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This page is free to cite. Attribution we ask for:
Velarion, “D-Wave Quantum executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/QBTS (accessed 2026).
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Tech — Software rankings

Chief executive pay — Tech — SoftwareCEO pay ratio — Tech — SoftwareSay-on-pay support — Tech — Software

Peers D-Wave Quantum discloses

The companies named in QBTS's own disclosed peer group.

AltimmuneApplied DigitalCaribou BiosciencesInhibrx BiosciencesQuantum Computing Inc.Red Violet

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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