Martin Patricia A. 4

What Happened

• Patricia A. Martin, a director of Cypherpunk Technologies Inc. (CYPH), converted/settled Restricted Stock Units (RSUs) into 168,750 shares of common stock on March 13, 2026. The filing shows two settlements: 74,700 shares and 94,050 shares. The conversions were recorded as derivative exercises/conversions (Form 4 code M) and no cash was paid—disposition price reported as $0.00. These RSUs were originally granted in Nov 2025 and Dec 2025 and settled on a 1-for-1 basis for common stock.

Key Details

• Transaction date: March 13, 2026; Form 4 filed March 17, 2026 (timely within required period).
• Shares converted: 74,700 RSUs + 94,050 RSUs = 168,750 shares.
• Price / proceeds: RSUs settled 1-for-1; disposition/exercise price shown as $0.00 (no cash received).
• Grants: Nov 11, 2025 RSUs (74,700) under 2022 Equity Incentive Plan; Dec 23, 2025 RSUs (94,050) under 2025 Equity Incentive Plan.
• Vesting: Both RSU grants vested at issuance (per footnotes), so settlement simply converted vested units to shares.
• Shares owned after transaction: not disclosed in this filing.

Context

• This was not an open-market buy or sale but conversion/settlement of previously granted RSUs into common stock. Such corporate award settlements typically reflect compensation plan mechanics rather than a director making a market bet. The filing does not show any immediate sale of the shares for cash.