Cerebras (CBRS) COO Dhiraj Mallick Sells 396,000 Shares

What Happened

• Dhiraj Mallick, Chief Operating Officer of Cerebras Systems (CBRS), sold a total of 396,000 shares in open-market transactions on September 29, 2026, generating approximately $80,798,604 in gross proceeds (average ~ $204.02/share).
• On the same day he converted 276,000 Class B shares into Class A shares (non-cash conversion at $0 per share, per footnote), and there are related derivative exercise/conversion entries reported at $0. These conversion/exercise entries are non-cash and reflect a reclassification of share class rather than a purchase price.

Key Details

• Transaction date: September 29, 2026 (Form 4 filed Sept 30, 2026 — timely).
• Shares sold: 396,000 shares across multiple block trades; gross proceeds ≈ $80,798,604; prices ranged roughly from $194.27 to $212.94 per footnotes. Weighted average ~ $204.02/share.
• Shares acquired/converted: 276,000 Class B shares converted to Class A (non-cash).
• Notable footnotes: Sales were made pursuant to a Rule 10b5-1 trading plan adopted June 30, 2026 (Footnote F2). Multiple footnotes (F3–F21) report weighted-average prices for grouped trades and note availability of per-price breakdowns upon SEC request. Footnote F1 explains Class B → Class A convertibility.
• Shares owned after transaction: not included in the provided filing details.

Context

• These were primarily sales (routine liquidity) executed under a pre-established 10b5-1 plan; conversions were non-cash reclassifications of share class.
• For derivative entries: the $0 exercise/conversion indicates no additional cash paid — it's a conversion/reclassification rather than a market purchase.
• This filing is informational and does not itself indicate management’s private view of the company; purchases generally carry more informational weight than planned sales.