X0306 4 2016-07-26 0 0001037760 CEPHEID CPHD 0001263113 PERSING DAVID H C/O CEPHEID 904 CARIBBEAN DRIVE SUNNYVALE CA 94089 1 1 0 0 EVP, Chief Med/Tech Officer Common Stock 2016-07-27 4 F 0 147 33.10 D 14047 D Performance Stock Unit 0.00 2016-07-26 4 A 0 25250 0.00 A Common Stock 25250 25250 D Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs. The Reporting Person did not sell or otherwise dispose of any of the shares for any reason other than to cover required taxes. The performance stock units will vest and be settled in shares of common stock based on the level of achievement of certain performance factors related to the company's revenue growth and operating margin over the three year performance period from January 1, 2016 to December 31, 2018. Depending on the level of performance, the number of shares of common stock delivered upon settlement can range from 0% to 125% of the target number represented above. /s/ Jacobin Zorin, Attorney-In-Fact 2016-07-28