Form 4: Cipher Mining Inc. Co-President and COO, Patrick Arthur Kelly, Reports Acquisition of Restricted Stock Units

Patrick Arthur Kelly, Co-President and COO of Cipher Mining Inc., reports the acquisition of restricted stock units (RSUs) vesting over three years.

Summary

• On February 26, 2025, Patrick Arthur Kelly, Co-President and COO of Cipher Mining Inc., reported the acquisition of 407,609 restricted stock units (RSUs).
• These RSUs represent a contingent right to receive one share of Cipher Mining Inc.'s common stock each.
• The RSUs vest in equal quarterly installments over a three-year period, starting March 31, 2025, and continuing on June 30, September 30, and December 15 of each year.
• Vesting is contingent upon Kelly's continuous service with the company on each applicable vesting date.
• Following the reported transaction, Kelly directly owns 2,048,049 shares.
• The filing was signed by William Iwaschuk, Attorney-in-Fact for Patrick Arthur Kelly, on February 28, 2025.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard disclosure of stock options vesting. The vesting schedule indicates a long-term commitment from the executive.

Positives

• The acquisition of RSUs by a key executive signals confidence in the company's future performance.
• The vesting schedule incentivizes continued service and commitment from the Co-President and COO.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which can influence investor sentiment.

Stakeholder Impact

• The acquisition of RSUs by a key executive can positively influence shareholder confidence.
• The vesting schedule incentivizes the executive to contribute to the company's success, benefiting all stakeholders.

Key Dates