LI WILLIAM 4

What Happened
William Li, a director of Cypherpunk Technologies Inc. (CYPH), was granted 75,000 restricted stock units (RSUs) on July 1, 2026. The award was reported at $0.00 per unit (no cash paid) and is recorded as a derivative grant rather than an immediate share purchase. The RSUs entitle Li to receive one share of common stock for each RSU upon settlement according to the award terms.

Key Details

• Transaction date: July 1, 2026; Form 4 filed July 2, 2026 (appears timely).
• Instrument: 75,000 RSUs granted under the Company’s 2025 Equity Incentive Plan. Reported as acquisition code A, price $0.00, reported value $0.
• Vesting: RSUs will vest on June 15, 2027 (Footnote F2).
• Settlement: RSUs settle 1-for-1 into common stock and are subject to applicable tax withholdings; settlement timing described in the award (Footnotes F1–F2).
• Shares owned after transaction: Not disclosed in the filing excerpt.
• Nature of transaction: Award/grant of derivative equity (not an open-market buy or sale).

Context
RSUs are a form of compensation that give the holder the right to receive shares in the future if vesting conditions are met; they do not represent current share ownership until settled. This is a routine equity grant to an insider and not a purchase or sale that directly signals insider buying or selling activity. Retail investors may watch for future Form 4s showing vesting/settlement or any subsequent sale of the shares.