Patel Yagnesh 4
4 · Cerebras Systems Inc. · Filed Jun 29, 2026
Research Summary
AI-generated summary of this filing
Cerebras (CBRS) CAO Yagnesh Patel Sells Shares
What Happened
Yagnesh Patel, Chief Accounting Officer of Cerebras Systems (CBRS), converted 10,079 Class B shares into Class A common stock and executed multiple open‑market sales on June 25, 2026. The filing reports 6,079 shares sold in many separate transactions at prices ranging roughly from the low $160s to high $180s, producing aggregate proceeds of about $1,042,704. Several of the share disposals were reported as sell‑to‑cover transactions to satisfy tax‑withholding obligations tied to the settlement of restricted stock units.
Key Details
- Transaction date: June 25, 2026. Multiple open‑market sales at varying prices (per‑share prices reported individually; weighted ranges provided in footnotes).
- Shares sold: 6,079 shares (aggregate of the listed open‑market sales). Aggregate proceeds reported ≈ $1,042,704.
- Conversion: 10,079 Class B shares were converted to Class A (footnote: Class B is convertible 1:1 into Class A with no expiration). The filing also records disposition of the converted derivative shares.
- Reason for some sales: Footnote indicates certain sales were automatic "sell‑to‑cover" transactions to satisfy tax withholding on RSU settlement and were not discretionary.
- Price details: Multiple weighted‑average price ranges are provided in footnotes (sales spanning roughly $162–$186 per share across different lots). Full per‑price breakdown is available from the filer on request.
- Shares owned after transaction: Not specified in the excerpt provided (see the full Form 4 filing for post‑trade holdings).
- Filing notes: This is the first of two Form 4s filed for transactions on June 25 and 26, 2026 because of EDGAR row limits; both forms should be read together. No indication in the provided data that the filing was late.
Context
A conversion of a derivative/Class B share into Class A common is a technical step to make shares tradable; sell‑to‑cover sales to meet tax obligations are common and are treated as non‑discretionary. These transactions are primarily disposals (not purchases) and, absent other context, do not by themselves indicate insider sentiment about the company’s prospects.
Insider Transaction Report
Form 4
Patel Yagnesh
Chief Accounting Officer
Transactions
- Conversion
Class A Common Stock
[F1]2026-06-25+10,079→ 10,079 total - Sale
Class A Common Stock
[F2][F3]2026-06-25$162.71/sh−107$17,410→ 9,972 total - Sale
Class A Common Stock
[F2][F4]2026-06-25$164.19/sh−215$35,301→ 9,757 total - Sale
Class A Common Stock
[F2][F5]2026-06-25$166.01/sh−161$26,728→ 9,596 total - Sale
Class A Common Stock
[F2][F6]2026-06-25$166.98/sh−228$38,071→ 9,368 total - Sale
Class A Common Stock
[F2][F7]2026-06-25$169.11/sh−269$45,491→ 9,099 total - Sale
Class A Common Stock
[F2][F8]2026-06-25$171.66/sh−107$18,368→ 8,992 total - Sale
Class A Common Stock
[F2]2026-06-25$175.74/sh−54$9,490→ 8,938 total - Sale
Class A Common Stock
[F2]2026-06-25$179.80/sh−54$9,709→ 8,884 total - Sale
Class A Common Stock
[F2]2026-06-25$180.93/sh−54$9,770→ 8,830 total - Sale
Class A Common Stock
[F2]2026-06-25$182.38/sh−54$9,849→ 8,776 total - Sale
Class A Common Stock
[F2][F9]2026-06-25$183.60/sh−107$19,645→ 8,669 total - Sale
Class A Common Stock
[F2][F10]2026-06-25$184.96/sh−215$39,766→ 8,454 total - Sale
Class A Common Stock
[F2]2026-06-25$189.36/sh−54$10,225→ 8,400 total - Sale
Class A Common Stock
[F11]2026-06-25$162.45/sh−193$31,353→ 8,207 total - Sale
Class A Common Stock
[F4]2026-06-25$164.19/sh−185$30,375→ 8,022 total - Sale
Class A Common Stock
[F5]2026-06-25$165.85/sh−269$44,614→ 7,753 total - Sale
Class A Common Stock
[F12]2026-06-25$166.93/sh−796$132,876→ 6,957 total - Sale
Class A Common Stock
[F13]2026-06-25$168.59/sh−663$111,775→ 6,294 total - Sale
Class A Common Stock
[F14]2026-06-25$169.21/sh−239$40,441→ 6,055 total - Sale
Class A Common Stock
[F15]2026-06-25$171.57/sh−993$170,369→ 5,062 total - Sale
Class A Common Stock
[F16]2026-06-25$172.33/sh−200$34,466→ 4,862 total - Sale
Class A Common Stock
2026-06-25$173.91/sh−100$17,391→ 4,762 total - Sale
Class A Common Stock
2026-06-25$175.74/sh−46$8,084→ 4,716 total - Sale
Class A Common Stock
2026-06-25$178.50/sh−100$17,850→ 4,616 total - Sale
Class A Common Stock
2026-06-25$179.80/sh−46$8,271→ 4,570 total - Sale
Class A Common Stock
2026-06-25$180.93/sh−46$8,323→ 4,524 total - Sale
Class A Common Stock
2026-06-25$182.38/sh−46$8,389→ 4,478 total - Sale
Class A Common Stock
[F17]2026-06-25$183.60/sh−93$17,075→ 4,385 total - Sale
Class A Common Stock
2026-06-25$185.01/sh−385$71,229→ 4,000 total - Conversion
Class B Common Stock
[F1]2026-06-25−10,079→ 120,838 total→ Class A Common Stock (10,079 underlying)
Footnotes (17)
- [F1]The Class B Common Stock is convertible into an equal number of Class A Common Stock at any time, at the Reporting Person's election, and has no expiration date.
- [F10]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $184.61 to $185.52, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F11]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $162.21 to $163.08, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F12]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $166.54 to $167.28, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F13]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $168.08 to $169.02, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F14]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $169.12 to $169.37, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F15]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $171.08 to $172.02, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F16]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $172.27 to $172.38, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F17]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $184.57 to $185.53, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F2]These shares were sold by the Reporting Person to cover tax withholding obligations in connection with the settlement of restricted stock units, resulting in the automatic conversion of the shares into Class A Common Stock immediately prior to execution of the sale. The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person. The Reporting Person is subject to a lock-up agreement that that was entered into with underwriters in connection with the Issuer's initial public offering and expires on the earlier of (i) 6:00 a.m. Eastern Time on the second trading day following the Issuer's release of earnings for the quarter ending September 30, 2026 or (ii) November 9, 2026. The sale of shares is a permissible exemption under the terms of the lock-up agreement.
- [F3]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $162.34 to $163.08, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F4]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $163.82 to $164.60, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F5]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $165.47 to $166.30, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F6]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $166.61 to $167.10, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F7]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $168.63 to $169.37, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F8]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $171.58 to $171.73, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F9]The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $183.52 to $183.68, inclusive. Upon request by the staff of the Securities and Exchange commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
Signature
/s/ Robert Mills, Attorney-in-fact|2026-06-29