Cerebras Systems COO Dhiraj Mallick Sells $80.8M in Class A Common Stock Under 10b5-1 Plan

Insider Transaction Overview

On September 29, 2026, Dhiraj Mallick, Chief Operating Officer of Cerebras Systems Inc. (CBRS), executed a significant sequence of derivative exercises, share conversions, and open-market sales:

1. Option Exercise & Conversion:

   • Exercised stock options to acquire 276,000 shares of Class B Common Stock at an exercise price of $0.98 per share.
   • Converted 276,000 shares of Class B Common Stock into 276,000 shares of Class A Common Stock on a 1:1 basis.

2. Open-Market Sales:

   • Sold an aggregate of 396,000 shares of Class A Common Stock across multiple weighted average price tranches ranging between $194.91 and $212.93.
   • Total gross proceeds from the sales totaled approximately $80,798,603.74 (weighted average price of ~$204.04 per share).
   • Following the sales, Mallick directly holds 0 shares of Class A Common Stock.

3. Remaining Holdings:

   • 520,807 shares of Class B Common Stock (convertible 1:1 into Class A Common Stock).
   • 91,370 vested stock options exercisable for Class B Common Stock.

Key Context

• 10b5-1 Plan: All sales were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on June 30, 2026.
• Significance: Rated High due to the substantial transaction size exceeding $80M and complete liquidation of direct Class A common shares, though the executive retains substantial equity exposure via Class B shares and remaining stock options.