Form 4: Cipher Digital Executive Executes RSU Conversion

Co-President and COO Patrick Arthur Kelly acquired 166,667 shares of Cipher Digital Inc. through RSU vesting and disposed of 85,084 shares to cover tax obligations.

Summary

• Patrick Arthur Kelly, Co-President and COO of Cipher Digital Inc., exercised 166,667 Restricted Stock Units (RSUs) on June 14, 2026.
• Following the acquisition, 85,084 shares were withheld by the company on June 16, 2026, to satisfy tax withholding requirements at a price of $26.03 per share.
• The reporting person's total beneficial ownership in the company stands at 1,533,439 shares of common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the transaction is a routine administrative process related to executive compensation vesting.

Positives

• The transaction reflects the vesting of equity-based compensation, aligning executive interests with long-term shareholder value.

Negatives

• The disposal of 85,084 shares, while primarily for tax purposes, reduces the executive's direct equity stake.

Risks

• Reliance on equity-based compensation may be impacted by future volatility in the company's share price.

Future Outlook

No specific forward-looking guidance provided in this filing.

Industry Context

StockSavvy.ai notes that routine RSU vesting and tax-related sell-to-cover transactions are standard corporate governance practices for executive compensation and do not typically signal a change in management sentiment regarding company performance.

Comparison to Industry Standards

• The use of RSU vesting schedules is consistent with standard executive compensation packages in the technology and digital infrastructure sectors.
• The 'sell-to-cover' mechanism for tax obligations is a standard practice among publicly traded companies to manage executive tax liabilities.

Stakeholder Impact

• Minimal impact on shareholders as the transaction is a standard equity compensation event.

Next Steps

• No future actions or milestones were disclosed in this filing.

Key Dates

Keywords

Cipher Digital, CIFR, Insider Trading, Form 4, Equity Compensation, RSU