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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1037760	Cepheid	CPHD	Laboratory Analytical Instruments (3826)	770441625

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1189846	L John Bishop	C/O Cepheid 904 Caribbean Drive Sunnyvale CA 94089	Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2011-04-28	47,600	$3.61	62,808	No	4	M	Direct
Common Stock	Disposition	2011-04-28	47,600	$32.00	15,208	No	4	S	Direct
Common Stock	Acquisiton	2011-04-29	5,000	$0.00	20,208	No	4	M	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Option (right to buy)	Disposition	2011-04-28	47,600	$0.00	47,600	$3.61
Common Stock	Restricted Stock Units	Disposition	2011-04-29	5,000	$0.00	5,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
10,800		2012-04-12	No	4	M	Direct
15,000			No	4	M	Direct

Footnotes

This transaction was effected pursuant to a 10b5-1 trading plan adopted by the reporting person on November 30, 2010.
Vesting of restricted stock units ("RSUs") granted to the Reporting Person on April 29, 2010.
The stock option grant is 100% vested and immediately exercisable.
Each RSU represents a contingent right to receive one share of the Issuer's common stock.
25% of the RSUs vested on April 29, 2011, and 6.25% of the RSUs vest each quarterly anniversary thereafter, until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.