Cerebras executives’ lock-up remains in effect until November, with the tax-related sales permitted under the lock-up.
- CTO Sean Lie filed to sell 710,247 common shares of Cerebras.
- Chief Operating Officer Dhiraj Mallick sold $8.64 million worth of shares.
- On Stocktwits, the retail sentiment for CBRS was ‘bullish’ on Friday.
Cerebras Systems senior executive commenced stock sales as the lock-up eases, with co-founder and Chief Technology Officer Sean Lie filing to sell over $153 million worth of shares.
Lie filed a Form 144 on Thursday indicating plans to sell 710,247 common shares of Cerebras. The shares were acquired when performance stock units vested in June, and the sale is tied to a 10b5-1 trading plan adopted the month before.
Lie sold 21,257 shares for $4.72 million on Aug. 18 and 10,033 shares for $1.71 million on June 25, bringing his disclosed sales over the past three months to $6.43 million.
Cerebras Insider Trades
Cerebras Systems executives disclosed stock sales, with Chief Operating Officer Dhiraj Mallick reporting the largest transaction.
Mallick sold 38,889 common shares for about $8.64 million, based on the individual prices disclosed in his Form 4. The shares were sold to cover tax-withholding obligations tied to the settlement of restricted stock units.
Yagnesh Patel, chief accounting officer at Cerebras, sold 4,574 shares for about $1 million. The filings also showed several large non-sale transfers and conversions involving Foundation Capital.
Cerebras’ standard IPO lock-up is 180 days, but unlike a typical IPO, it has a staggered early-release structure for pre-IPO investors, including certain insiders and key managerial personnel.
Cerebras went public on May 14 and the lock-up would expire around November 10; however, portions of the locked-up shares are being released earlier in tranches following earnings and subject to specified conditions, according to the company’s FAQs page.
The executives’ lock-up agreements remain in effect until the earlier of 6 am ET on the second trading day after Cerebras releases its third-quarter 2026 earnings or Nov. 9, with the tax-related sales permitted under the lock-up.
CBRS Stock Move, Retail View
Cerebras stock has ended in the red for four straight sessions, losing over 17% in total in their period.
Cerebras’ market performance has been a mixed bag. The company made a strong debut, buoyed by optimism around its proprietary wafer technology, but the stock fell soon after its listing. Currently, CBRS shares are 40% below the price they opened at on their May 14 debut.
On Stocktwits, the retail sentiment for CBRS was ‘bullish’ on Friday.
Cerebras’ Q2 Recap
Last Wednesday, Cerebras reported adjusted loss per share of $0.05 for its second quarter, beating Wall Street’s estimates of a $0.18 loss per. Revenue came in at $209.9 million, ahead of the $108 million consensus estimate.
The company raised its full-year 2026 revenue outlook to $880 million to $890 million, above its previous forecast of $855 million to $865 million.
However, Cerebras’ adjusted gross margin fell to 40.6%, from 46.5% in the preceding three months. CFO Bob Komin said the roughly five-percentage-point decline was driven by higher costs to rent computing capacity that Cerebras had previously deployed with other customers.
The margin pressure comes as the company rapidly expands its manufacturing capacity.
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