Cipher Digital Inc: Co-president and CLO William Iwaschuk exercised 140,005 shares

What happened

• William Iwaschuk, co-president and chief legal officer, exercised or converted a total of 140,005 derivative shares on Sep 30, 2026 (33,967; 29,611; 76,427). The filing shows matching disposals of the same share amounts at $0.00 per share (reported as derivative disposals).

Key details

• Transaction date: Sep 30, 2026. Transaction code: M (exercise or conversion of derivative). Acquisition reported as N/A for price; disposals reported at $0.00.
• Shares acquired (by conversion/exercise): 33,967; 29,611; 76,427 — total 140,005. Shares disposed (same amounts): 33,967; 29,611; 76,427 — total 140,005.
• Shares owned after the transaction: not reported in this Form 4.
• Relevant footnotes from the filing:
  • F1: each restricted stock unit (RSU) is a contingent right to one share of common stock.
  • F2: each performance stock unit (PSU) is a contingent right to one share of common stock.
  • F3 and F4: RSUs vest in equal quarterly installments over three years on Mar 31, Jun 30, Sep 30 and Dec 15, subject to continuous service; first vesting dates were Mar 31, 2025 (F3) and Mar 31, 2026 (F4).
  • F5: 305,707 earned PSUs vested on Dec 19, 2025; remaining earned PSUs vest in substantially equal quarterly installments beginning Mar 31, 2026; these earned PSUs have no expiration date.
• Filing date / accession: filed Oct 02, 2026 (reporting period Sep 30, 2026). The filing does not indicate a late filing status.

Why it may matter

• The Form 4 shows derivative awards were exercised or converted and that identical share amounts were disposed on the same date; the disposals are reported at $0.00, so the filing does not show a cash sale for proceeds.
• This is a report of derivative exercise/conversion and related disposition; it is not presented as a gift or a market sale for cash in this filing.
• A filing does not show why the insider traded or why the company acted.