Plan your Cerebras Systems ISO exercise
Calculator · free · no signup · pre-IPOCerebras Systems is pre-IPO. Plan your AMT impact at any valuation: current 409A, expected IPO price, or post-IPO scenarios.
Beta · invite-only · AlphaLatitude Inc. · Free Tools
Your grant
Seeded from secondary-market data, as of May 13, 2026
Tax inputs
Grant timeline
Net final value at year 3 sale — optimized plan
$412,898
After-tax dollars at end of year 3, net of all federal + state taxes through the sale.
This year: exercise 1,095 shares (of 10,000 total).
= gross gain at sale − federal + state LTCG − AMT premium above baseline regular tax (time-valued)
AMT premium for exercising: $353,685 (on top of $228,434 regular tax across the horizon)
Optimized plan keeps $39,064 more than lump-sum, $42,176 more than even split.
Federal AMT crossover this year: 527 shares ($57,238 bargain element). Above that, each additional share this year adds federal AMT.
Estimates only. Not financial advice.
Net final value by year
Running tally: NTV from shares exercised through year y, minus AMT premium paid through year y. The last year matches the plan's headline NTV. Hover a year for plan totals.
Optimized exercise schedule
You pay the higher of Regular tax and Tentative AMT per jurisdiction, then subtract Credit recovered. The result is Net tax. Hover any number for the bracket-by-bracket breakdown.
| 1 | 1,095 | |||
| 2 | 1,066 | |||
| 3 | 7,839 |
Federal AMT credit
Earned
$293,102
Recovered
$0
Remaining
$293,102
The AMT credit only recovers in years where regular tax exceeds AMT — typically a year with no ISO exercise. Every year in this schedule has bargain element, so AMT exceeds regular tax in every year and the credit carries forward untouched. Try a longer horizon or fewer total shares to introduce a recovery year.
Plan comparison
Net value at the end of your hold horizon.
Lump-sum
All in Year 1
$373,834
−$39,064
Even split
Equal shares each year
$370,722
−$42,176
Optimized
Tax-aware schedule
$412,898
Highest
Estimates only. Excludes disqualifying dispositions, NSOs, multi-state moves, and AMT preferences other than ISO bargain elements. Long-term capital gains tax assumes a qualifying disposition (ISO held ≥1 yr from exercise and ≥2 yr from grant); state LTCG follows ordinary brackets except where the state grants preferential treatment (HI, ND, SC, WI, AR, NM) or has a dedicated LTCG-only tax (WA). Assumes you are within the $100K ISO limit (any portion of an annual ISO grant whose FMV at grant exceeds $100K is treated as NSO from the start, §422(d)). State AMT figures are 2025 (next-year values published in late 2026). Not financial advice.
QSBS note. If your shares qualify (typically pre-IPO C-corp grants held 5+ years), a federal rule lets you exclude up to $10M of gain on a future sale from federal tax. That single rule shifts exercise-timing math more than AMT does. (This is §1202 “qualified small-business stock”.) Modeled in beta, not here.
You optimized one grant in isolation. The beta optimizes ISOs alongside your RSUs, NSOs, and stock in one plan.
Request beta access →About Cerebras Systems
Cerebras Systems is a privately held Semiconductors company, incorporated in Delaware and headquartered in Sunnyvale, CA. S-1 filed Apr 1, 2026.
Last reported secondary-market price: $113.5 per share (as of 2026-05-13). Your own 409A may differ.
Expected ticker CBRS.
Equity grants at Cerebras Systems typically include incentive stock options (ISOs) and non-qualified stock options (NSOs).
Cerebras Systems Inc., headquartered in Sunnyvale, California, develops semiconductors, supercomputers, and related software to power artificial intelligence deep-learning applications such as inference engines. Products include its wafer scale engine (WSE)-3 semiconductors, its CS-3 supercomputers, and its "AI inference cloud" and "AI training cloud" APIs, which allow users to access the company's computing power without buying its hardware. The company also builds data centers using its processors and supercomputers to provide cloud computing services directly to clients.
Source: Wikipedia (CC BY-SA 4.0)
Founded in 2016 by Andrew Feldman, Gary Lauterbach, Michael James, Sean Lie, and Jean-Philippe Fricker (the SeaMicro team that sold to AMD in 2012), Cerebras builds wafer-scale AI compute from its Sunnyvale headquarters. The flagship WSE-3 packs 4 trillion transistors onto a single TSMC 5nm wafer, powering CS-3 systems and a high-speed inference cloud. Customers include G42's Condor Galaxy supercomputers and Lockheed Martin. After CFIUS scrutiny of the G42 stake delayed its 2024 S-1, Cerebras refiled and is targeting a Nasdaq debut under CBRS.
Sources: en.wikipedia.org · cerebras.ai · finance.yahoo.com
Equity comp at Cerebras Systems
- Original S-1 filed September 2024 was paused due to CFIUS review of UAE-based G42's investment (G42 accounted for 83% of 2023 revenue and 97% of 2024 hardware sales). CFIUS clearance reportedly obtained in early 2025 but IPO remained on hold; company raised $1.1B at an $8.1B valuation. Refiled S-1 in April 2026 with G42 removed from the investor list, targeting a May 14, 2026 NASDAQ listing under ticker CBRS. Holders face a concentrated tax-withholding event at IPO (about $230M earmarked for RSU settlement obligations) after roughly 18 months of regulatory uncertainty.
Sources: sec.gov · techstartups.com
Researched 2026-05-11.
OptionsAhoy is an independent tool and is not affiliated with, endorsed by, or sponsored by Cerebras Systems.
The calculator works at any Cerebras Systems valuation: enter your strike, the current 409A FMV, an expected IPO price, or anywhere in between. AMT is triggered on the bargain element (FMV minus strike) when you exercise; the calculator models federal AMT, state AMT, and the multi-year credit-recovery path.
Example: at Cerebras Systems's last reported price of $113.5, exercising 5,000 ISOs with a $34.05 strike creates a $397,250 bargain element. Above the 2026 federal AMT exemption ($88,100 single, $137,000 married joint), the 28% AMT rate adds roughly $111,230 on top of regular tax before any state AMT (CA, CO, CT, MN). The credit recovers in later years when your regular tax exceeds AMT. The calculator above runs your exact figures.
All Cerebras Systems tools → · Use the generic AMT + ISO Exercise Calculator for any company.
Cerebras Systems equity questions
- How much alternative minimum tax (AMT) will I owe exercising Cerebras Systems ISOs?
- Exercising incentive stock options (ISOs) does not create regular income tax, but the bargain element (the fair market value at exercise minus your strike price) counts toward the alternative minimum tax (AMT). The amount depends on the bargain element, your other income, your filing status, and your state. The calculator above models federal and state AMT, the AMT crossover point, and how the credit recovers in later years for your exact Cerebras Systems figures.
- Does Cerebras Systems grant ISOs, NSOs, or RSUs?
- Equity compensation at Cerebras Systems typically takes the form of incentive stock options (ISOs) and non-qualified stock options (NSOs). Incentive stock options can trigger the alternative minimum tax (AMT) when you exercise.
- Are Cerebras Systems shares eligible for QSBS?
- They might be. Qualified small business stock (QSBS) under Internal Revenue Code Section 1202 can exclude federal tax on much of the gain when shares were acquired at original issuance from a C-corporation while its gross assets were under $50 million, and held at least five years. Whether your Cerebras Systems shares qualify turns on when you acquired them and the company's asset size at that time.
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