Form 4: Cypherpunk Director Updates RSU Holdings, Consolidates Awards

Cypherpunk Technologies director Oei Khing Djien reports changes in restricted stock unit holdings, including a new award to CoinXit Ltd.

Summary

• Director Oei Khing Djien directly acquired 94,050 Restricted Stock Units (RSUs) under the Company's 2025 Equity Incentive Plan, which vested immediately on December 23, 2025.
• CoinXit Ltd, an entity solely owned by Oei Khing Djien, disposed of 2,411,700 'First RSUs' previously awarded under the 2022 Equity Incentive Plan pursuant to a Consulting Agreement dated October 6, 2025.
• CoinXit Ltd subsequently acquired 5,448,157 new RSUs (referred to as 'CoinXit RSUs') under the 2025 Equity Incentive Plan, which combines the previous 2,411,700 'First RSUs' with an additional 3,036,457 'Second RSUs' in full satisfaction of the Consulting Agreement.
• The CoinXit RSUs will vest over time, with 12/36th vesting on October 8, 2026, and 1/36th vesting on the eighth day of each month thereafter, subject to Oei Khing Djien's continued service.

Sentiment

Score: 5

Explanation: This filing reports routine insider equity transactions, including RSU awards and restructuring, with no direct impact on company performance or outlook.

Positives

• The consolidation of previous RSU awards and new units into a single, larger RSU award for CoinXit Ltd simplifies the equity compensation structure related to the consulting agreement.
• The direct award of 94,050 RSUs to the director, vesting immediately, aligns the director's interests with the company's performance.

Risks

• The settlement of RSUs is subject to applicable tax withholdings.
• The vesting of the CoinXit RSUs is contingent upon the reporting person's continued service with or to the Company.

Future Outlook

The future settlement of the directly held RSUs will occur 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. The CoinXit RSUs will vest monthly after October 8, 2026, with settlement occurring on the earliest of specific payroll periods tied to cessation of service or certain calendar months following vesting dates.

Industry Context

This Form 4 filing is a standard regulatory disclosure for insider transactions, reflecting changes in equity holdings for a director. It does not provide broader industry trends or competitive analysis.

Corporate Governance

Related Party Transactions

• Transactions involving CoinXit Ltd, an entity solely owned by the reporting person, Oei Khing Djien, including the disposition of 2,411,700 RSUs and the acquisition of 5,448,157 new RSUs under a consulting agreement.

Stakeholder Impact

• Shareholders: Potential future dilution upon settlement of RSUs into common stock. The equity awards align the director's interests with the company's long-term performance.

Next Steps

• Continued vesting of CoinXit RSUs according to the specified schedule.
• Future settlement of vested RSUs into common stock based on defined conditions.

Key Dates

Keywords

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