Lie Sean 4

What Happened

• Sean Lie, Chief Technology Officer of Cerebras Systems (CBRS), converted 10,033 Class B shares into Class A common stock and sold all 10,033 shares in multiple open-market transactions on June 25, 2026. The sales occurred across prices from about $165.21 to $186.51 per share, generating total proceeds of approximately $1,706,312 (weighted-average sale price ≈ $170.07). This was a sale (not a purchase) and—per the filing footnote—was executed to satisfy tax-withholding obligations in connection with RSU settlement (a routine, non‑discretionary "sell to cover" transaction).

Key Details

• Transaction date: June 25, 2026; Form 4 filed June 29, 2026 (filing appears to be within the normal two-business-day window).
• Shares sold: 10,033 shares; total proceeds ≈ $1,706,312; price range roughly $165.21–$186.51; overall weighted-average ≈ $170.07/share.
• Conversion: 10,033 Class B shares were converted into an equal number of Class A shares immediately prior to sale (see footnote re conversion rights).
• Reason / footnote: Footnote indicates sale was to cover tax withholding on RSU settlement (sell-to-cover), not a discretionary sale. The filer is subject to an IPO lock-up that allows this type of sale; lock-up expires on the earlier of second trading day after the Q3 2026 earnings release or November 9, 2026.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Other notes: Several footnotes in the filing report weighted-average prices across sub-ranges and offer to provide detailed breakdowns on request.

Context

• This transaction involved converting a convertible class of stock (Class B → Class A) and then immediately selling the converted shares to satisfy tax withholding on restricted stock units. Such sell-to-cover transactions are common and typically reflect tax obligations rather than a CEO/insider expressing a view on the company's prospects.