Page Tyler 4
4 · Cipher Digital Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Cipher Digital (CIFR) CEO Tyler Page Receives 473,266 Shares; 241,603 Withheld
What Happened
Tyler Page, CEO of Cipher Digital, had a total of 473,266 derivative awards (RSUs/PSUs) convert/vest on June 30, 2026. To satisfy tax withholding obligations, 241,603 of those shares were surrendered (net-share settlement) at a reported withholding price of $24.50 per share, generating proceeds of approximately $5,919,274. The filing shows conversion/settlement line items (code M) for 113,225; 105,285; and 254,756 units and corresponding tax-withholding disposals (code F) of 57,802; 53,748; and 130,053 shares.
Key Details
- Transaction date: 2026-06-30 (Form filed 2026-07-02; timeliness not specified in provided data).
- Shares received via conversion/vesting: 113,225 + 105,285 + 254,756 = 473,266 shares.
- Shares withheld for taxes (disposed): 57,802 + 53,748 + 130,053 = 241,603 shares; withheld value ≈ $5,919,274 at $24.50/share.
- Reported disposal lines at $0.00 reflect conversion/settlement of derivative awards (common reporting convention).
- Footnotes: F1–F2 clarify RSUs/PSUs convert 1:1 to common stock; F4–F6 describe vesting schedules (quarterly vesting and previously earned PSU vesting details). F3 notes a May 12, 2026 transfer of 400,000 shares to Impa Holdings LLC, an entity Page manages that is owned by a family trust.
- Shares owned after transaction: not stated in the provided excerpt.
Context
These transactions represent award vesting and routine tax-withholding (net-share settlement), not an open-market sale or purchase of additional shares. For retail investors, vesting and tax withholding are common administrative events: they increase reported beneficial ownership (gross) but reduce the net shares received when shares are surrendered for taxes. The filing does not provide additional indications of market sentiment or trading plans.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-06-30+113,225→ 9,078,287 total - Tax Payment
Common Stock
2026-06-30$24.50/sh−57,802$1,416,149→ 9,020,485 total - Exercise/Conversion
Common Stock
[F1]2026-06-30+105,285→ 9,125,770 total - Tax Payment
Common Stock
2026-06-30$24.50/sh−53,748$1,316,826→ 9,072,022 total - Exercise/Conversion
Common Stock
[F2]2026-06-30+254,756→ 9,326,778 total - Tax Payment
Common Stock
2026-06-30$24.50/sh−130,053$3,186,299→ 9,196,725 total - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-06-30−113,225→ 3,404,883 total→ Common Stock (113,225 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F5]2026-06-30−105,285→ 3,299,598 total→ Common Stock (105,285 underlying) - Exercise/Conversion
Performance Stock Units
[F2][F6]2026-06-30−254,756→ 1,528,532 total→ Common Stock (254,756 underlying)
- 400,000(indirect: See Footnote)
Common Stock
[F3]
Footnotes (6)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
- [F2]Each performance stock unit ("PSU") represents a contingent right to receive one share of Issuer's Common Stock.
- [F3]On May 12, 2026, the Reporting Person transferred 400,000 shares of the Issuer's Common Stock to Impa Holdings LLC. The Reporting Person serves as the managing member of Impa Holdings LLC, and 100% of its membership interests are held by a trust for the benefit of certain members of the Reporting Person's immediate family over which the Reporting Person has investment authority.
- [F4]The RSUs vest in equal quarterly installments over a three-year period, on March 31, June 30, September 30 and December 15 of each year, subject to the Reporting Person's continuous service on the applicable vesting date. The first vesting date occurred on March 31, 2025.
- [F5]The RSUs vest in equal quarterly installments over a three-year period, on March 31, June 30, September 30 and December 15 of each year, subject to the Reporting Person's continuous service on the applicable vesting date. The first vesting date occurred on March 31, 2026.
- [F6]1,019,022 earned PSUs vested on December 19, 2025, and the remaining earned PSUs vest in substantially equal quarterly installments, subject to the Reporting Person's continuous service on each vesting date. The first such vesting date occurred on March 31, 2026. These earned PSUs have no expiration date.