Galaxy Digital (GLXY) CIO Christopher Ferraro Exercises Options

What Happened

• Christopher C. Ferraro, President and Chief Investment Officer of Galaxy Digital, exercised 50,000 stock options on 2026-08-18, acquiring 50,000 Class A shares at $4.83 per share for $241,500 in cash (footnote F1 states the shares were acquired with cash and are now held). The Form 4 also reports a related derivative disposition of 50,000 units at $0 (listed as an exercised/converted derivative).

Key Details

• Transaction date: 2026-08-18.
• Primary purchase: 50,000 shares @ $4.83 = $241,500 (cash exercise).
• Reported derivative disposition: 50,000 @ $0 (no cash proceeds reported).
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: F1 (cash exercise, shares now held); F2 (288,806 Class A shares to be delivered under RSUs upon vesting); F3–F5 (option vesting/exercisable and vesting schedules); F6 (info on Class B voting/LP unit conversion).
• Filing timeliness: Form filed 2026-08-18 for a 2026-08-18 transaction — appears to be timely.

Context

• This was a cash exercise of stock options (not a cashless exercise or an immediate sale), so Ferraro purchased and retained the shares rather than selling them right away. The filing also lists option terms and remaining vesting schedules (some options vest over three years; vested options noted as exercisable through March 29, 2028). Purchases like this are more informative than sales, but the filing does not state motives — it only documents the exercise and the related derivative entry.