Bullish (BLSH) Director Andrew Bliss Sells 100 Shares

What Happened
Andrew Bliss, a director of Bullish (BLSH), sold 100 ordinary shares in an open-market transaction on September 24, 2026. The shares traded at $40.10 each for a total transaction value of $4,010. This was a sale (not a purchase), which for a small amount is often routine rather than a directional signal.

Key Details

• Transaction date and price: 2026-09-24, 100 shares sold at $40.10 per share (executed in one trade).
• Total value: $4,010.
• Shares owned after transaction: not specified in the Form 4; the filing reports holdings indirectly (see below) and includes unvested RSUs.
• Notable footnotes:
  • F1: Trade executed in one transaction at $40.10.
  • F2: The filing also discloses 5,877 restricted share units (RSUs) granted under the Bullish 2025 Omnibus Incentive Plan; these RSUs vest in full on September 1, 2027 and convert to one ordinary share each upon vesting.
  • F3: Reported securities are held indirectly through Bliss Capital Limited, an entity controlled by the reporting person; Bliss is deemed to beneficially own those shares.
• Timeliness: Filed on 2026-09-28 for a 2026-09-24 transaction; the filing shows no late-filing flag and appears timely.

Context
The filing notes Bullish's status as a foreign private issuer, so these transactions are exempt from Sections 16(b) and 16(c) of the Securities Exchange Act. Sales of this small size are typically routine (e.g., liquidity or portfolio management). The RSUs disclosed are unvested and do not represent immediately tradable shares.