Bullish (BLSH) director Simon Karen Jo discloses shares and RSU awards

Rhea-AI Filing Summary

Bullish director Simon Karen Jo has filed a Form 3 reporting current equity holdings in the company. The filing shows direct ownership of 20,270 ordinary shares. It also reports 4,139 restricted share units granted on November 6, 2025 that vest in full on November 6, 2026, and 6,208 restricted share units granted on the same date that vest in three equal annual installments from the grant date. Each RSU converts into one ordinary share upon vesting, so these awards represent additional potential future share ownership as they vest over time.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Simon Karen Jo

Role Director

Type	Security	Shares	Price	Value
holding	Ordinary Shares	--	--	--
holding	Ordinary Shares	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Ordinary Shares — 20,270 shares (Direct)

Footnotes (1)

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 November 6, 2026. Each RSU represents a right to receive one ordinary share of Bullish upon vesting. Represents 6,208 RSUs granted on November 6, 2025 under the Bullish 2025 Omnibus Incentive Plan, vesting in three equal annual installments from the grant date. Each RSU represents a right to receive one ordinary share of Bullish upon vesting.

Understanding Insider Trading Forms →

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^*

Simon Karen Jo

(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	20,270	D
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 November 6, 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 the grant date. 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/ Karen Jo Simon	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)