Cerebras (CBRS) COO Dhiraj Mallick Sells Shares

What Happened

• Dhiraj Mallick, Chief Operating Officer of Cerebras Systems (CBRS), converted 158,889 Class B shares into Class A common stock and executed multiple open‑market sales on August 18, 2026.
• The filing shows 38,889 shares sold in a series of trades at prices ranging roughly from $214.85 to $240.01, generating total proceeds of approximately $8,642,080. A separate conversion/disposition line for 158,889 shares is reported as a derivative conversion (reported at $0.00).
• These sales were largely non‑discretionary "sell‑to‑cover" transactions to satisfy tax withholding related to the settlement of restricted stock units, per filing footnote F2.

Key Details

• Transaction date: August 18, 2026. Filing date (Form 4): August 20, 2026 (filed within two business days; timely).
• Shares sold: 38,889 shares across many trades; prices reported between ~$214.85 and $240.01. Total proceeds ≈ $8.64M.
• Conversion: 158,889 Class B shares were converted to Class A (footnote F1). A corresponding derivative disposition line is reported at $0.00.
• Purpose: Footnote F2 states the open‑market sales were to cover tax withholding for RSU settlement and were not discretionary.
• Aggregation notes: Several footnotes (F3–F25, F10–F13, etc.) indicate weighted‑average sale price groupings used in the filing; detailed per‑trade price breakdowns are available upon SEC staff request.
• Shares owned after transaction: not specified in the provided filing excerpt.

Context

• The conversion described is a routine conversion of Class B into Class A common stock (not an option exercise). The reported open‑market sales were primarily to satisfy tax obligations related to RSUs (sell‑to‑cover), which is common and does not necessarily signal a discretionary view on the company. The filing notes the reporting person remains subject to a lock‑up agreement from the IPO, and these sales are an allowed exemption under that agreement.