Iwaschuk William 4

4 · Cipher Digital Inc. · Filed Apr 2, 2026

AI-generated summary of this filing

Updated Apr 3, 2026

Cipher Digital (CIFR) Co‑President Iwaschuk Receives 140,006 Vested Shares

What Happened

William Iwaschuk, Co‑President and Chief Legal Officer of Cipher Digital (CIFR), had RSUs/PSUs convert into 140,006 shares on March 31, 2026 (reported as "exercise/conversion of derivative" (code M). To cover tax and exercise obligations, 65,905 shares were withheld/disposed (code F) at $12.87 per share, yielding proceeds/value of $848,198. The filing shows corresponding derivative cancellations reported at $0.00 (these reflect conversion/cancellation of the RSU/PSU awards).

Key Details

Transaction date: March 31, 2026; Form 4 filed April 2, 2026 (appears timely).
Acquired (conversion/vesting): 33,968 + 29,611 + 76,427 = 140,006 shares (code M).
Withheld/Disposed for taxes/exercise: 40,146 + 13,825 + 11,934 = 65,905 shares at $12.87 each = $848,198 (code F).
Derivative disposals reported at $0.00 correspond to cancellation of the underlying RSUs/PSUs on conversion.
Shares owned after the transaction: not disclosed in the provided filing excerpt.
Relevant footnotes: RSUs and PSUs represent contingent rights to one share each; vesting schedules and earned PSU vesting are described in the filing (see footnotes F1–F5).

Context

This was not an open‑market sale or purchase but the vesting/conversion of restricted/performance units into common stock with a portion withheld to satisfy tax/exercise obligations (a routine “sell-to-cover”/withholding event). Such transactions reflect compensation vesting rather than an independent purchase or directional sale by the insider.

Form 4

Period: 2026-03-31

Co-President and CLO

Transactions

Tax Payment
Common Stock
2026-03-31$12.87/sh−40,146$516,679→ 1,464,610 total
Exercise/Conversion
Common Stock
[F1]
2026-03-31+33,968→ 1,424,477 total
Tax Payment
Common Stock
2026-03-31$12.87/sh−13,825$177,928→ 1,410,652 total
Exercise/Conversion
Common Stock
[F1]
2026-03-31+29,611→ 1,440,263 total
Tax Payment
Common Stock
2026-03-31$12.87/sh−11,934$153,591→ 1,428,329 total
Exercise/Conversion
Common Stock
[F2]
2026-03-31+76,427→ 1,504,756 total
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-03-31−33,968→ 1,229,994 total
→ Common Stock (33,968 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F4]
2026-03-31−29,611→ 1,200,383 total
→ Common Stock (29,611 underlying)
Exercise/Conversion
Performance Stock Units
[F2][F5]
2026-03-31−76,427→ 534,986 total
→ Common Stock (76,427 underlying)

Footnotes (5)

[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]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.
[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, 2026.
[F5]305,707 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.

Signature

/s/ William Iwaschuk|2026-04-02

1 file