Benchmark Capital Management Co. VIII, L.L.C. 4

What Happened

• Benchmark Capital Management Co. VIII, L.L.C. — reported as a 10% owner — converted derivative securities into 2,157,802 shares of Cerebras Systems (CBRS) common stock on 2026-06-29. The conversion was recorded at $0.00 per share. The same block of 2,157,802 shares was then recorded as disposed/distributed on the same date. No cash changed hands in these reported transactions.

Key Details

• Transaction date: 2026-06-29; Filing date: 2026-07-01 (filed within the typical 2-business-day Form 4 deadline).
• Reported transactions/codes: C (conversion of derivative security), J (other acquisition/disposition); all at $0.00 per share.
• Shares involved: 2,157,802 shares converted and 2,157,802 shares disposed.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes: F1 = conversion per terms; F2 = shares held by Benchmark funds with BCMC VIII as general partner and nominee (institutional ownership structure); F3 = pro‑rata in‑kind distribution to partners; F4 = Class B → Class A conversion mechanics described in the issuer’s charter.

Context

• This filing reflects an institutional conversion and in‑kind distribution among affiliated funds/partners, not an individual executive buying or selling stock. Conversions at $0.00 typically reflect contractual conversion or reclassification of securities (not a market purchase). Such administrative transfers by a 10% owner are often procedural and should not be read as a direct market sentiment signal.