Form 4: Cypherpunk Director William Li Awarded 94,050 RSUs

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

Summary

• William Li, 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.
• The RSUs vested in full upon issuance on December 23, 2025.
• Each RSU represents the right to receive one share of Cypherpunk Technologies Inc. common stock.
• Settlement of the RSUs into common stock will occur as soon as practicable following the earlier of (i) the fifth business day after Mr. Li ceases to be a director or (ii) the date of the first annual meeting of stockholders after the grant date.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While there's minor future dilution, the award serves as an incentive for a director, aligning their interests with shareholders, which is generally viewed favorably.

Positives

• The RSU award aligns the interests of Director William Li with those of shareholders, incentivizing long-term performance.
• The award is part of an existing 2025 Equity Incentive Plan, indicating a structured approach to executive and director compensation.

Negatives

• The future settlement of 94,050 RSUs into common stock will result in a minor dilution for existing shareholders.

Future Outlook

The filing details the future settlement mechanism for the awarded Restricted Stock Units, which 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.

Industry Context

This RSU award is a standard form of equity compensation for directors in the technology sector, aiming to retain talent and align leadership incentives with company performance and shareholder value.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) as director compensation is a common practice across publicly traded companies, particularly in the technology sector, aligning with typical industry standards for non-cash compensation.
• The immediate vesting of RSUs upon issuance, while less common than time-based vesting, is sometimes used for director awards to acknowledge past contributions or as a specific incentive structure.

Related Party Transactions

• The award of 94,050 Restricted Stock Units to William Li, a Director of Cypherpunk Technologies Inc., constitutes a related party transaction as it involves compensation to a member of the company's board.

Stakeholder Impact

• Shareholders: Will experience minor dilution upon the future settlement of the RSUs into common stock.
• Director (William Li): Receives equity compensation, aligning personal financial interests with the company's long-term performance.

Next Steps

• The Company will settle the 94,050 RSUs for Common Stock as soon as practicable following the earlier of William Li ceasing to be a director or the first annual meeting of stockholders after December 23, 2025.

Key Dates

Keywords

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