RSU grants disclosed for Bullish (BLSH) director Wynn Andrew Charles

Rhea-AI Filing Summary

Bullish director Wynn Andrew Charles filed an initial ownership report showing grants of restricted share units under the Bullish 2025 Omnibus Incentive Plan. He holds 4,139 RSUs granted on November 6, 2025 that vest in full on September 1, 2026, and 6,208 RSUs granted the same day that vest in three equal annual installments from September 1, 2025. Each RSU converts into one ordinary share of Bullish upon vesting.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Wynn Andrew Charles

(Last) (First) (Middle)

OFFICE 101, 103, 105 SUITE 70202, BLDG A

BLOCK 7, 60 NEXUS WAY, CAMANA BAY

(Street)

GEORGE TOWN, GRAND CAYMAN KY1-9005

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Bullish [ BLSH ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	4,139(1)	D
Ordinary Shares	6,208(2)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents 4,139 restricted share units ("RSUs") granted on November 6, 2025 under the Bullish 2025 Omnibus Incentive Plan. The RSUs vest in full on September 1, 2026. Each RSU represents a right to receive one ordinary share of Bullish upon vesting.

2. Represents 6,208 RSUs granted on November 6, 2025 under the Bullish 2025 Omnibus Incentive Plan, vesting in three equal annual installments from September 1, 2025. Each RSU represents a right to receive one ordinary share of Bullish upon vesting.

Remarks:

Due to the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b) under the Act, the reporting person's transactions in the issuer's equity securities are exempt from Sections 16(b) and 16(c) of the Act.

	/s/ Andrew Charles Wynn	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Bullish (BLSH) director Wynn Andrew Charles report in this Form 3?

The Form 3 reports Wynn Andrew Charles’s initial beneficial ownership in Bullish through restricted share units. It lists two RSU grants under the 2025 Omnibus Incentive Plan, detailing unit counts, grant dates, and vesting schedules rather than any buy or sell transactions.

How many restricted share units does Wynn Andrew Charles hold in Bullish (BLSH)?

He holds 4,139 RSUs and 6,208 RSUs, both granted on November 6, 2025. These RSUs together represent rights to receive 10,347 ordinary shares of Bullish if all vesting conditions are met over the stated schedules.

When do Wynn Andrew Charles’s Bullish (BLSH) RSUs vest?

The 4,139 RSUs vest in full on September 1, 2026. The 6,208 RSUs vest in three equal annual installments beginning September 1, 2025, providing a staggered vesting structure over three years tied to continued service or applicable plan conditions.

What does each RSU represent in Wynn Andrew Charles’s Bullish holdings?

Each restricted share unit represents a right to receive one ordinary share of Bullish upon vesting. This means the RSUs will convert into actual shares only as vesting dates are reached and conditions under the 2025 Omnibus Incentive Plan are satisfied.

Does this Bullish (BLSH) Form 3 show any stock purchases or sales?

The Form 3 does not show any purchase or sale transactions. It records existing holdings of restricted share units granted to Wynn Andrew Charles as a director, focusing on equity-based compensation rather than open-market trading activity in Bullish shares.