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Cerebras CEO sells 37,441 shares after option

Cerebras’ CEO exercised options, converted Class B into Class A shares and sold 37,441 Class A shares under a Rule 10b5-1 trading plan.

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Filing Sentiment
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Form Type
4

Rhea-AI Filing Summary

Cerebras Systems Inc. (CBRS) reported insider activity by CEO and President Andrew D. Feldman. On September 4, 2026 he exercised a stock option for 37,441 shares of Class B Common Stock at an exercise price of $2.72 per share and converted them into 37,441 Class A Common shares, then reported selling 37,441 Class A shares in multiple transactions, with sale prices disclosed as weighted averages within specified ranges and made pursuant to a Rule 10b5-1 trading plan adopted on May 20, 2026. He also reported an in-kind, pro-rata distribution of 120 Class A shares on September 8, 2026 to the Feldman Bravo Family Trust, which now holds 806 Class A shares indirectly, and continues to hold stock options for 525,000 shares and indirect Class B positions convertible into 50,000 Class A shares in each of two GRATs.

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Insider Feldman Andrew D.
Role CEO, President
Sold 37,441 shs ($7.88M)
Approx. gross sale proceeds $7.88M
Type Security Shares Price Value
Other Class A Common Stock F18 120 $0.00 $0.00
Exercise Stock Option F19 37,441 $0.00 $0.00
Exercise Class B Common Stock F1 37,441 $0.00 $0.00
Conversion Class B Common Stock F1 37,441 $0.00 $0.00
Conversion Class A Common Stock F1 37,441 $0.00 $0.00
Sale Class A Common Stock F2, F3 1,100 $199.18 $219K
Sale Class A Common Stock F2, F4 300 $200.79 $60K
Sale Class A Common Stock F2, F5 300 $201.75 $61K
Sale Class A Common Stock F2, F6 900 $202.97 $183K
Sale Class A Common Stock F2, F7 1,200 $204.06 $245K
Sale Class A Common Stock F2, F8 800 $206.30 $165K
Sale Class A Common Stock F2, F9 1,500 $207.80 $312K
Sale Class A Common Stock F2, F10 1,707 $208.84 $356K
Sale Class A Common Stock F2, F11 6,721 $209.99 $1.41M
Sale Class A Common Stock F2, F12 6,153 $210.91 $1.30M
Sale Class A Common Stock F2, F13 7,439 $211.85 $1.58M
Sale Class A Common Stock F2, F14 3,324 $213.04 $708K
Sale Class A Common Stock F2, F15 3,897 $213.95 $834K
Sale Class A Common Stock F2, F16 1,400 $214.98 $301K
Sale Class A Common Stock F2, F17 600 $215.81 $129K
Sale Class A Common Stock F2 100 $216.62 $22K
holding Class B Common Stock F1 -- -- --
holding Class B Common Stock F1 -- -- --
Holdings After Transaction: Stock Option — 525,000 contracts (Direct); Class B Common Stock — 13,945,134 contracts (Direct); Class A Common Stock — 16,853 shares (Direct); Class A Common Stock — 806 shares (Indirect, By Feldman Bravo Family Trust); Class B Common Stock — 50,000 contracts (Indirect, By GRAT 1); Class B Common Stock — 50,000 contracts (Indirect, By GRAT 2)
Footnotes (19)
  1. 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.
  2. F2. The sale reported on this Form 4 represents shares sold by the Reporting Person pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 20, 2026.
  3. F3. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $199.00 to $199.87, 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.
  4. F4. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $200.16 to $201.12, 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.
  5. F5. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $201.45 to $202.11, 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.
  6. F6. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $202.59 to $203.43, 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.
  7. F7. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $203.65 to $204.62, 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.
  8. F8. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $206.02 to $206.53, 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.
  9. F9. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $207.21 to $208.19, 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.
  10. F10. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $208.39 to $209.38, 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.
  11. F11. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $209.41 to $210.34, 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.
  12. F12. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $210.42 to $211.42, 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.
  13. F13. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $211.42 to $212.39, 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.
  14. F14. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $212.50 to $213.49, 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.
  15. F15. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $213.50 to $214.48, 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.
  16. F16. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $214.52 to $215.33, 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.
  17. F17. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $215.53 to $216.06, 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.
  18. F18. Represents a pro-rata, in-kind distribution not for additional consideration.
  19. F19. The stock option is fully vested and exercisable.
Option shares exercised 37,441 shares Stock option for Class B Common Stock exercised on September 4, 2026
Option exercise price $2.72 per share Exercise price of stock option exercised on September 4, 2026
Class A shares sold 37,441 shares Total Class A Common Stock reported sold across multiple trades on September 4, 2026
Example sale price $199.18 per share (weighted average) 1,100 Class A shares sold at a weighted average price with a range of $199.00–$199.87
Remaining stock option position 525,000 shares Stock option for Class B Common Stock held after transactions
Indirect Class A holding (trust) 806 shares Class A Common Stock held indirectly by Feldman Bravo Family Trust after in-kind distribution
Convertible Class B in GRAT 1 50,000 underlying Class A shares Class B Common Stock indirectly held by GRAT 1, convertible into an equal number of Class A shares
Convertible Class B in GRAT 2 50,000 underlying Class A shares Class B Common Stock indirectly held by GRAT 2, convertible into an equal number of Class A shares
Rule 10b5-1 trading plan regulatory
"shares sold by the Reporting Person pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average sale price financial
"represents the weighted average sale price of the shares sold ranging"
in-kind distribution financial
"Represents a pro-rata, in-kind distribution not for additional consideration"
A distribution of value to shareholders or beneficiaries made by transferring assets instead of paying cash, such as shares, bonds, or property. Like receiving a box of goods rather than money, it changes what you hold rather than adding liquid funds; investors care because it affects a portfolio’s composition, liquidity, tax reporting, and cost basis for the received assets.
Class B Common Stock financial
"The Class B Common Stock is convertible into an equal number of Class A"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
convertible into an equal number financial
"Class B Common Stock is convertible into an equal number of Class A"

FAQ

What did CBRS CEO Andrew Feldman report doing in this Form 4?
He exercised stock options for 37,441 Class B shares, converted them into 37,441 Class A shares, then reported selling 37,441 Class A shares in multiple transactions, and also reported an in-kind distribution of 120 Class A shares to the Feldman Bravo Family Trust.

Were the CBRS insider sales made under a Rule 10b5-1 plan?
Yes. A footnote states the reported sales of Class A Common Stock were made pursuant to a Rule 10b5-1 trading plan adopted on May 20, 2026 by Andrew D. Feldman.

What options position does the CBRS CEO report after these transactions?
Following the September 4, 2026 option exercise, Andrew D. Feldman reports holding a stock option covering 525,000 shares of Class B Common Stock, which is convertible into an equal number of Class A shares.

How many CBRS shares were involved in the CEO’s sales?
The transaction summary reports that Andrew D. Feldman sold 37,441 shares of Class A Common Stock in multiple transactions on September 4, 2026, with prices disclosed as weighted averages within specified ranges for each trade.

What was the exercise price for the CBRS stock option exercised?
The stock option exercised on September 4, 2026 covered 37,441 shares of Class B Common Stock at an exercise price of $2.72 per share. The option is described as fully vested and exercisable.

What indirect CBRS holdings are reported for the CEO after these trades?
He reports 806 Class A shares held indirectly by the Feldman Bravo Family Trust and indirect holdings of Class B Common Stock in GRAT 1 and GRAT 2, each convertible into 50,000 Class A shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Feldman Andrew D.
(Last)(First)(Middle)
C/O CEREBRAS SYSTEMS INC.
1237 E. ARQUES AVENUE
(Street)
SUNNYVALE CALIFORNIA 94085
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Cerebras Systems Inc. [ CBRS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
CEO, President
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/04/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Class A Common Stock09/04/2026C37,441(1)A$0(1)54,294D
Class A Common Stock09/04/2026S(2)1,100D$199.18(3)53,194D
Class A Common Stock09/04/2026S(2)300D$200.79(4)52,894D
Class A Common Stock09/04/2026S(2)300D$201.75(5)52,594D
Class A Common Stock09/04/2026S(2)900D$202.97(6)51,694D
Class A Common Stock09/04/2026S(2)1,200D$204.06(7)50,494D
Class A Common Stock09/04/2026S(2)800D$206.3(8)49,694D
Class A Common Stock09/04/2026S(2)1,500D$207.8(9)48,194D
Class A Common Stock09/04/2026S(2)1,707D$208.84(10)46,487D
Class A Common Stock09/04/2026S(2)6,721D$209.99(11)39,766D
Class A Common Stock09/04/2026S(2)6,153D$210.91(12)33,613D
Class A Common Stock09/04/2026S(2)7,439D$211.85(13)26,174D
Class A Common Stock09/04/2026S(2)3,324D$213.04(14)22,850D
Class A Common Stock09/04/2026S(2)3,897D$213.95(15)18,953D
Class A Common Stock09/04/2026S(2)1,400D$214.98(16)17,553D
Class A Common Stock09/04/2026S(2)600D$215.81(17)16,953D
Class A Common Stock09/04/2026S(2)100D$216.6216,853D
Class A Common Stock09/08/2026J(18)120A$0806IBy Feldman Bravo Family Trust
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option$2.7209/04/2026M37,441 (19)12/07/2030Class B Common Stock37,441$0525,000D
Class B Common Stock(1)09/04/2026M37,441 (1) (1)Class A Common Stock37,441$013,982,575D
Class B Common Stock(1)09/04/2026C37,441 (1) (1)Class A Common Stock37,441$013,945,134D
Class B Common Stock(1) (1) (1)Class A Common Stock50,00050,000IBy GRAT 1
Class B Common Stock(1) (1) (1)Class A Common Stock50,00050,000IBy GRAT 2
Explanation of Responses:
1. 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.
2. The sale reported on this Form 4 represents shares sold by the Reporting Person pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 20, 2026.
3. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $199.00 to $199.87, 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.
4. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $200.16 to $201.12, 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.
5. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $201.45 to $202.11, 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.
6. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $202.59 to $203.43, 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.
7. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $203.65 to $204.62, 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.
8. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $206.02 to $206.53, 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.
9. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $207.21 to $208.19, 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.
10. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $208.39 to $209.38, 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.
11. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $209.41 to $210.34, 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.
12. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $210.42 to $211.42, 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.
13. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $211.42 to $212.39, 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.
14. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $212.50 to $213.49, 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.
15. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $213.50 to $214.48, 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.
16. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $214.52 to $215.33, 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.
17. The sale price reported in Column 4 of Table 1 represents the weighted average sale price of the shares sold ranging from $215.53 to $216.06, 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.
18. Represents a pro-rata, in-kind distribution not for additional consideration.
19. The stock option is fully vested and exercisable.
Remarks:
/s/ Robert Mills, Attorney-in-fact09/08/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

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