Iwaschuk William 4

What Happened

• William Iwaschuk, Co‑President and CLO of Cipher Digital (CIFR), converted/was issued a total of 140,005 shares on 2026‑06‑30 by exercising/converting derivative awards (RSUs/PSUs).
• To satisfy tax withholding obligations, 77,424 of those shares were withheld/paid (reported as dispositions under code F) at $24.50 per share, generating $1,896,889 in cash. The remaining net shares issued to him were 62,581 (140,005 acquired − 77,424 withheld).
• The filings show conversion/exercise entries (code M) and the corresponding tax‑withholding share disposals (code F); the $0.00 entries for some derivative disposals reflect the conversion/extinguishment of the award instruments, not open‑market sales.

Key Details

• Transaction date: 2026‑06‑30; Form 4 filed 2026‑07‑02 (no late filing indicated in the provided data).
• Withholding price: $24.50 per share; total cash withheld for taxes: $1,896,889. Estimated gross value of the 140,005 shares at $24.50 ≈ $3,430,122.50; net shares retained ≈ 62,581 (≈ $1,533,234.50 at $24.50).
• Shares owned after transaction: Not stated in the provided filing.
• Footnotes: RSUs and PSUs convert to common stock when vested (F1–F2). RSUs and earned PSUs vest on quarterly schedules (see F3–F5); 305,707 earned PSUs vested on 12/19/2025 and remaining earned PSUs vest quarterly beginning 3/31/2026.
• Transaction codes: M = exercise/conversion of derivative security; F = payment of exercise price or tax liability (share withholding). These were routine vesting/conversion and withholding actions, not open‑market purchases or sales.

Context

• This was not an open‑market sale or purchase; it appears to be routine conversion of vested equity awards with shares withheld to cover taxes (a common practice after vesting). Such transactions typically reflect compensation vesting rather than an intentional buy/sell decision by the insider.
• For investors tracking insider activity, purchases are often more informative about sentiment than routine vesting + withholding; here the net effect increased Iwaschuk’s holdings by the 62,581 shares retained.