Form 4: Cypherpunk Director Awarded 94,050 Restricted Stock Units

Cypherpunk Technologies Inc. director Nissim Mashiach received an award of 94,050 restricted stock units, vesting immediately.

Summary

• Nissim Mashiach, a Director of Cypherpunk Technologies Inc. (CYPH), was awarded 94,050 Restricted Stock Units (RSUs).
• The RSUs were granted on December 23, 2025, under the Company's 2025 Equity Incentive Plan for no consideration ($0).
• These RSUs vested immediately upon issuance on December 23, 2025.
• Each RSU will be settled on a 1-for-1 basis for shares of Cypherpunk Technologies Inc. Common Stock.
• Settlement of the RSUs for Common Stock will occur as soon as practicable following the earlier of (i) the fifth business day after Mr. Mashiach ceases to be a director, or (ii) the date of the first annual meeting of stockholders after the grant date.

Sentiment

Score: 6

Explanation: Slightly positive, as it indicates alignment of interests between a director and shareholders through equity compensation, a standard and generally beneficial practice.

Positives

• The award of Restricted Stock Units to a director aligns the director's interests with those of the shareholders, as their compensation is tied to the company's equity performance.
• The immediate vesting of the RSUs indicates confidence in the director's ongoing contribution and provides immediate equity ownership.

Negatives

• The future settlement of RSUs into common stock will result in a slight dilution for existing shareholders, although this is a standard component of equity compensation plans.

Risks

• Potential future dilution of existing shareholders when the 94,050 Restricted Stock Units are settled into common stock.

Future Outlook

The Restricted Stock Units will be settled into common stock on a 1-for-1 basis as soon as practicable following the earlier of the fifth business day after the reporting person ceases to be a director or the date of the first annual meeting of stockholders after the grant date.

Industry Context

Equity compensation, such as Restricted Stock Units, is a common practice across industries for attracting, retaining, and incentivizing directors and key personnel, aligning their long-term interests with company performance and shareholder value.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) for director compensation is a widely accepted practice, comparable to compensation structures seen in technology and growth-oriented companies.
• Immediate vesting, while less common than time-based vesting, is sometimes used for directors to acknowledge their immediate contribution and commitment, similar to practices at companies like Google (Alphabet) or Microsoft for certain executive or board awards.

Corporate Governance

Related Party Transactions

• The award of 94,050 Restricted Stock Units to Nissim Mashiach, a Director of Cypherpunk Technologies Inc., constitutes a related party transaction.

Stakeholder Impact

• Shareholders: Potential for minor dilution upon settlement of the RSUs into common stock, but also benefit from increased alignment of director's interests with shareholder value.
• Director (Nissim Mashiach): Increased equity stake in the company, providing a direct financial incentive tied to the company's performance.

Next Steps

• The company will settle the 94,050 Restricted Stock Units into common stock at a future date, based on the specified settlement conditions.

Key Dates

Keywords

Cypherpunk Technologies, CYPH, Restricted Stock Units, RSU, Insider Transaction, Director Compensation, Equity Incentive Plan, Form 4