Cerebras Systems CEO Andrew Feldman Executes Option Exercise and $7.88M Sale Under 10b5-1 Plan

Executive Summary

On September 4, 2026, Andrew D. Feldman, CEO, President, and Director of Cerebras Systems Inc. ($CBRS), executed a series of derivative exercises, conversions, and subsequent open-market sales totaling 37,441 shares of Class A Common Stock. The total proceeds of the sales were approximately $7.88 million at a volume-weighted average price of approximately $210.46 per share (with execution prices ranging from $199.18 to $216.62 across 15 discrete tranches).

Transaction Details

1. Option Exercise & Conversion:
   • Exercised stock options for 37,441 shares of Class B Common Stock at an exercise price of $2.72 per share.
   • Converted 37,441 shares of Class B Common Stock to Class A Common Stock on a 1-for-1 basis for $0 consideration.
2. Open Market Sales:
   • Disposed of 37,441 Class A shares across multiple tranches at prices between $199.18 and $216.62.
   • All sales were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan established on May 20, 2026.
3. Other Activity:
   • Received 120 Class A shares via an in-kind distribution into the Feldman Bravo Family Trust on September 8, 2026.

Ownership Post-Transaction

• Direct Class A Common Stock: 16,853 shares.
• Direct Class B Common Stock: 13,945,134 shares.
• Indirect Class B Common Stock: 100,000 shares (50,000 via GRAT 1 and 50,000 via GRAT 2).
• Indirect Class A Common Stock: 806 shares (via Feldman Bravo Family Trust).
• Remaining Stock Options: 525,000 options.

Context and Market Impact

The transaction is categorized as Medium Significance. While the absolute transaction dollar amount ($7.88M) is notable, the activity represents an option exercise and pre-planned sale under a Rule 10b5-1 trading plan. Furthermore, the sale represents only a fraction of Feldman's overall equity stake, as he retains over 13.9 million shares of Class B Common Stock, representing significant ongoing ownership and alignment with company performance.