Form 4: Cypherpunk Director Oei Gains 2.4M RSUs

Cypherpunk Technologies Director Khing Djien Oei reported the acquisition of over 2.4 million Restricted Stock Units, both directly and indirectly through CoinXit Ltd.

Summary

• Khing Djien Oei, a Director and 10% Owner of Cypherpunk Technologies Inc. (CYPH), reported changes in beneficial ownership.
• Oei acquired 74,700 Restricted Stock Units (RSUs) directly, which vested at issuance on November 11, 2025, under the Company's 2022 Equity Incentive Plan.
• Oei also indirectly acquired 2,411,700 RSUs through CoinXit Ltd, a company where he is the director and sole owner.
• These indirect RSUs were awarded pursuant to a Consulting Agreement dated October 6, 2025, and will vest 12/36th on October 8, 2026, and 1/36th on the eighth day of each month thereafter.
• All RSUs are to be settled on a 1-for-1 basis for shares of Cypherpunk Technologies Inc. common stock.
• The total number of RSUs beneficially owned by Oei following these transactions is 2,486,400.

Sentiment

Score: 7

Explanation: The filing indicates a significant increase in a director's beneficial ownership through equity awards, which generally signals confidence in the company's future prospects and aligns management's interests with shareholders.

Positives

• Increased alignment of interests between a key director and the company's shareholders through significant equity awards.
• The direct acquisition of 74,700 RSUs vested immediately, indicating immediate equity ownership.

Future Outlook

The acquired Restricted Stock Units (RSUs) will be settled for common stock upon specific future events, including cessation of service for directly held RSUs, and according to a defined vesting schedule for indirectly held RSUs, followed by settlement in specific payroll periods.

Related Party Transactions

• The award of 2,411,700 Restricted Stock Units to CoinXit Ltd, where Khing Djien Oei is the director and sole owner, constitutes a related party transaction.

Stakeholder Impact

• Shareholders: Increased insider ownership may be viewed positively as it aligns management's interests with long-term shareholder value. However, the future settlement of RSUs into common stock will result in dilution.
• Employees (specifically Khing Djien Oei): Significant equity compensation provides a strong incentive for continued service and performance.

Next Steps

• Settlement of 74,700 directly held RSUs for common stock following the earlier of the fifth business day after Oei ceases to be a director or the date of the first annual meeting of stockholders after the grant date.
• Vesting of 2,411,700 indirectly held RSUs according to the schedule: 12/36th on October 8, 2026, and 1/36th on the eighth day of each month thereafter.
• Settlement of vested indirectly held RSUs for common stock on the earliest of specific payroll periods following vesting dates or cessation of service.

Key Dates

Keywords

Cypherpunk Technologies, CYPH, Restricted Stock Units, RSU, Insider Transaction, Director Compensation, Equity Incentive Plan, Beneficial Ownership