Sec Form 4 Filing - SMITH JOSEPH H @ CEPHEID - 2015-03-19

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person SMITH JOSEPH H 2. Issuer Name and Ticker or Trading Symbol CEPHEID [ CPHD] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) EVP, Bus Dev and GC (Last) (First) (Middle) C/O CEPHEID, 904 CARIBBEAN DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 03/19/2015 (Street) SUNNYVALE, CA94089 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 03/19/2015 M( 1 ) 10,000 A $ 9.075 24,323 D Common Stock 03/19/2015 M( 1 ) 10,000 A $ 19.85 34,323 D Common Stock 03/19/2015 S( 1 ) 20,000 D $ 60 14,323 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Non-qualified Stock Option (Right to Buy) $ 9.075 03/19/2015 M( 1 ) 10,000 01/01/2006( 2 ) 04/27/2015 Common Stock 10,000 $ 0 34,352 D Non-qualified Stock Option (Right to Buy) $ 19.85 03/19/2015 M( 1 ) 10,000 04/24/2009( 3 ) 04/24/2015 Common Stock 10,000 $ 0 50,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other SMITH JOSEPH H C/O CEPHEID 904 CARIBBEAN DRIVE SUNNYVALE, CA94089 EVP, Bus Dev and GC Signatures /s/ Jacobin Zorin, Attorney-In-Fact 03/23/2015 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The transactions reported on this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the reporting person. ( 2 )1/48th of the shares subject to the grant vest and become exercisable monthly from the grant date, until such time as the option is 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. ( 3 )25% of the shares subject to the grant vest and become exercisable on the one-year anniversary of the grant date, then 2.0833% of the shares subject to the grant vest and become exercisable each month thereafter, until such time as the option is 100% vested, subject to the continuing employment of the Reporting Person on each vesting date.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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