Cerebras (CBRS) CEO Andrew Feldman Sells 37,441 Shares After Conversion

What Happened Andrew D. Feldman, CEO, President and a director of Cerebras Systems (CBRS), converted 37,441 Class B shares into Class A shares (1:1 conversion) on Sept. 4, 2026 and sold those 37,441 shares in multiple open‑market transactions that day. The sales generated total proceeds of approximately $7,879,687 (average price ≈ $210.5 per share). The filing also shows an additional acquisition of 120 shares on Sept. 8 for no cash consideration.

Key Details

• Transaction dates: primary transactions executed Sept. 4, 2026; Form 4 filed Sept. 8, 2026 (timely filing).
• Sales: 37,441 shares sold in multiple trades at prices ranging roughly from $199.18 to $216.62 per share; total proceeds ≈ $7.88M.
• Conversion: 37,441 Class B common shares were converted into an equal number of Class A shares (F1).
• Plan/footnotes: Sales were made pursuant to a Rule 10b5‑1 trading plan adopted May 20, 2026 (F2); several footnotes report weighted‑average price groupings for subsets of the trades.
• Other acquisition: 120 shares acquired on Sept. 8 for no cash consideration (reported as an "other" acquisition).
• Shares owned after transaction: not specified in this filing.

Context

• This was effectively a conversion followed by an immediate sale of the converted shares (conversion → sale), rather than a straight purchase signal. Sales under pre‑arranged 10b5‑1 plans are commonly routine and executed automatically under plan terms.
• For derivative/convertible items: the filing shows the Class B→Class A conversion (no cash paid) and corresponding sales; these are not option exercises that required cash to acquire shares.
• The filing appears timely and includes standard SEC footnote disclosures about how weighted‑average prices were reported and that detailed per‑price breakdowns are available upon SEC request.