Mallick Dhiraj 4

What Happened Dhiraj Mallick, Chief Operating Officer of Cerebras Systems (CBRS), converted derivative securities into common stock and sold 10,000 shares in an open-market transaction on June 30, 2026. The reported weighted-average sale price was $206.51 per share, resulting in proceeds of approximately $2,065,100. The Form 4 also shows conversion entries for derivative securities (10,000 shares acquired via conversion and a related derivative conversion reported with $0 proceeds).

Key Details

• Transaction date: 2026-06-30; Form 4 filed: 2026-07-01 (timely filing).
• Open-market sale: 10,000 shares at a weighted-average price of $206.51; proceeds ≈ $2,065,100. Footnote reports sale prices ranged $206.08–$206.91.
• Conversion events: two conversion entries for 10,000 shares each (one reported as an acquisition via conversion, one as a derivative conversion with $0 proceeds).
• Shares owned after the transaction: not specified in the provided filing.
• No 10b5-1 plan, tax withholding, or late-filing notes included in the provided information.

Context

• The filing’s footnote explains the Class B common stock is convertible into an equal number of Class A shares at the reporting person’s election with no expiration — the conversion here likely reflects that mechanism. Because conversion and sale occurred the same day, this resembles converting previously held derivative/convertible holdings and selling the resulting Class A shares.
• Sales are routine insider disclosures and do not by themselves indicate company prospects; purchases typically carry more weight as a signal of insider conviction.