Iwaschuk William 4

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.