Auvil Paul R. III 4

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.