Auvil Paul R. III 4
4 · Cerebras Systems Inc. · Filed May 15, 2026
Research Summary
AI-generated summary of this filing
Cerebras (CBRS) Director Paul R. Auvil III Reclassifies 203,750 Shares
What Happened Paul R. Auvil III, a director of Cerebras Systems (CBRS), recorded a non‑cash reclassification on 2026-05-15 that shows 203,750 shares disposed and 203,750 shares acquired. Both entries list price as N/A; one is reported as a disposition (Class A) and the other as an acquisition of a derivative (Class B). This was an administrative conversion of share classes rather than an open‑market purchase or sale, so there were no proceeds or cash paid.
Key Details
- Transaction date: 2026-05-15. Transaction code: J (Other acquisition/disposition). Price: N/A.
- Amounts: 203,750 shares disposed; 203,750 shares acquired (acquisition listed as derivative).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Footnote: Per F1, prior to the issuer's IPO, each Class A share beneficially owned by the reporting person (including RSUs and option‑underlying shares) was reclassified into one share of Class B in an exempt Rule 16b‑7 transaction; Class B shares are convertible to Class A at holder option.
- Filing timeliness: report filed with the SEC dated 2026-05-15 (no late filing indicated in the provided data).
Context This filing documents a class reclassification (administrative conversion) rather than a market buy or sale. Such conversions typically do not change the holder's economic exposure immediately and are routine in corporate restructurings or IPO-related reorganizations. Because no cash changed hands and no sale occurred, this should not be interpreted as a conventional insider buy or sell.
Insider Transaction Report
- Other
Class A Common Stock
[F1]2026-05-15−203,750→ 0 total - Other
Class B Common Stock
[F1]2026-05-15+203,750→ 203,750 total→ Class A Common Stock (203,750 underlying)
Footnotes (1)
- [F1]Immediately prior to the completion of the Issuer's initial public offering, each share of Class A common stock beneficially owned by the Reporting Person, including shares of Class A common stock underlying restricted stock unit ("RSU") and stock options awards, were reclassified into one share of Class B common stock in an exempt transaction pursuant to Rule 16b-7. Each share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock.