Page Tyler 4

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.