Cipher Digital CFO Gregory Mumford Receives RSU Award; Taxes Withheld

What Happened

• Gregory Mumford, CFO of Cipher Digital (CIFR), had 17,108 restricted stock units (RSUs) convert to common shares on June 30, 2026 (reported on Form 4). To cover tax withholding, 6,895 of those shares were surrendered at $24.50 per share for a tax payment of $168,928, leaving a net issuance to Mumford of 10,213 shares. The RSU conversion shows $0 exercise price, consistent with RSUs (not option exercises).

Key Details

• Transaction date: 2026-06-30; Form 4 filed 2026-07-02 (within the typical 2-business-day filing window).
• Converted/issued: 17,108 shares (RSU conversion; coded M).
• Shares withheld for taxes: 6,895 shares at $24.50 each = $168,928 (coded F).
• Net shares received by insider: 17,108 − 6,895 = 10,213 shares (implied value at $24.50 ≈ $250,149).
• Shares owned after transaction: not specified in the information provided on the filing.
• Footnotes: F1 notes each RSU equals one share. F2 states RSUs vest in equal quarterly installments over three years (vesting dates include Mar 31 and Jun 30), and the first vesting occurred Mar 31, 2026.

Context

• This was a routine compensation event (RSU vesting) with a net-share settlement used to satisfy tax withholding — not an open-market sale. Transaction codes: M = exercise/conversion of a derivative (here, RSU conversion); F = payment of exercise price or tax liability (here, tax withholding). Such filings typically reflect compensation being realized rather than an actionable insider buy/sell signal.