Cypherpunk (CYPH) Head of Mining Kevin Zhang Receives 2M RSU Award

What Happened

• Kevin Zhang, Head of Mining at Cypherpunk Technologies Inc. (CYPH), received a grant of 2,000,000 restricted stock units (RSUs) reported as a derivative award (transaction code A) on 2026-08-21. The RSUs were issued for no cash consideration (grant price $0.00), so the reported immediate cash value is $0.

Key Details

• Transaction date: August 21, 2026; Form 4 filed August 24, 2026 (3 days after the transaction date as reported).
• Award size and price: 2,000,000 RSUs @ $0.00 (issued under the Company’s 2025 Equity Incentive Plan).
• Vesting schedule: 1/3 vests on August 18, 2027, then 1/36 of the total award vests on the 18th of each month for the following 24 months (i.e., remaining 2/3 over those months).
• Settlement: RSUs convert 1-for-1 to common stock when vested and will be settled for shares on the earliest of (a) the first payroll period after employment/service termination, (b) the first payroll period on or after the June payroll period following a Vesting Date, or (c) the first payroll period on or after the December payroll period following a Vesting Date; subject to tax withholding.
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Form filed Aug 24 for an Aug 21 transaction (see dates above); investors may note the filing gap but the filing itself discloses the grant terms.

Context

• This was an equity award (RSUs), not an open-market purchase or sale; awards are commonly used for compensation and retention and do not by themselves signal a buy/sell decision.
• Because these are derivative RSUs that vest over time and settle for shares later, they do not immediately increase publicly tradable shares held by the insider until settlement/vesting occurs.