X0304 4 2012-02-02 0 0001037760 CEPHEID CPHD 0001212371 ARNOLD NICOLAAS C/O CEPHEID 904 CARIBBEAN DRIVE SUNNYVALE CA 94089 0 1 0 0 EVP, Worldwide Comm'l Ops Common Stock 2012-02-02 4 M 0 40000 14.93 A 41503 D Common Stock 2012-02-02 4 S 0 40000 43.1094 D 1503 D Common Stock 1000 I By Spouse Non-Qualified Stock Option (right to buy) 14.93 2012-02-02 4 M 0 40000 0.00 D 2016-10-14 Common Stock 40000 130000 D Represents the aggregate of sales effected on the same day at different prices. Represents the weighted average sales price per share. The shares sold at prices ranging from $42.76 to $43.45 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer. 1/4th of the total shares vested and became exercisable on October 14, 2010, and an additional 1/48th of the total shares vested or will vest and become exercisable on each monthly anniversary thereafter. /s/ Nicolaas Arnold by Joseph H. Smith, Attorney-in-Fact 2012-02-06