Form 4: Ceribell Director Sells 25K Shares via 10b5-1 Plan

Ceribell Inc. Director Josef Parvizi sold 25,000 shares of common stock at a weighted average price of $22.94, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Josef Parvizi, a Director of Ceribell, Inc. (CBLL), reported the sale of 25,000 shares of common stock.
• The transaction occurred on January 15, 2026.
• Shares were sold at a weighted average price of $22.94, with individual transaction prices ranging from $22.43 to $23.38.
• The sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Parvizi on August 18, 2025.
• Following this transaction, Mr. Parvizi directly holds 747,652 shares.
• Mr. Parvizi also indirectly holds 907,911 shares through the Innovation ACP Trust and 369,088 shares through the ACP 2021 Trust, disclaiming beneficial ownership except for his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While insider selling can be a negative signal, the fact that it was executed under a Rule 10b5-1 plan mitigates concerns, suggesting a pre-planned financial management decision rather than a reaction to adverse company news.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned diversification or liquidity event rather than a reaction to recent company performance.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived negatively by investors as it reduces the insider's direct stake in the company.

Risks

• Potential negative investor sentiment or misinterpretation of the insider sale, despite it being a pre-planned transaction.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing reports an individual insider transaction and does not provide broader industry context or trends. It is a routine disclosure of a director's stock activity.

Related Party Transactions

• Josef Parvizi is the sole trustee of the Josef Parvizi Trust and a co-trustee of the Innovation ACP Trust and ACP 2021 Trust, through which he holds indirect beneficial ownership of Ceribell securities. He disclaims beneficial ownership of these indirect holdings except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders may observe the reduction in a director's direct shareholding, though the 10b5-1 plan context suggests it's a routine personal financial management action.

Key Dates

Recommendation

The insider sale, while a reduction in direct holdings, was executed under a Rule 10b5-1 plan, which typically indicates a pre-scheduled personal financial event rather than a reflection of new negative company information. Therefore, this single transaction alone is unlikely to warrant a change in investment recommendation, suggesting a 'hold' position for existing investors.

Keywords

Ceribell, CBLL, insider trading, Form 4, stock sale, director, 10b5-1 plan, beneficial ownership