Cipher Digital CEO exercises 473K shares, covers taxes
Cipher Digital Inc. CEO Page Tyler reported routine equity compensation activity involving the company’s common stock.
Rhea-AI Filing Summary
Cipher Digital Inc. CEO Page Tyler reported routine equity compensation activity involving the company’s common stock. On June 30, 2026, Tyler exercised derivative awards to acquire 473,266 shares of common stock, while 241,603 shares were withheld to cover tax obligations at a price of $24.50 per share. Following these transactions, Tyler directly owned 9,196,725 shares of common stock and indirectly held 400,000 additional shares through Impa Holdings LLC, whose membership interests are held by a family trust over which Tyler has investment authority. The filing also shows ongoing holdings of performance stock units and restricted stock units that vest in quarterly installments, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
473,266 shares exercised/converted
Exercise
10 txns
Insider
Page Tyler
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 113,225 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 105,285 | $0.00 | $0.00 |
| Exercise | Performance Stock Units | 254,756 | $0.00 | $0.00 |
| Exercise | Common Stock | 113,225 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 57,802 | $24.50 | $1.42M |
| Exercise | Common Stock | 105,285 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 53,748 | $24.50 | $1.32M |
| Exercise | Common Stock | 254,756 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 130,053 | $24.50 | $3.19M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 3,299,598 contracts (Direct);
Performance Stock Units — 1,528,532 contracts (Direct);
Common Stock — 9,196,725 shares (Direct);
Common Stock — 400,000 shares (Indirect, See Footnote)
Footnotes (6)
- F1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
- F2. Each performance stock unit ("PSU") represents a contingent right to receive one share of Issuer's Common Stock.
- F3. On May 12, 2026, the Reporting Person transferred 400,000 shares of the Issuer's Common Stock to Impa Holdings LLC. The Reporting Person serves as the managing member of Impa Holdings LLC, and 100% of its membership interests are held by a trust for the benefit of certain members of the Reporting Person's immediate family over which the Reporting Person has investment authority.
- F4. The RSUs vest in equal quarterly installments over a three-year period, on March 31, June 30, September 30 and December 15 of each year, subject to the Reporting Person's continuous service on the applicable vesting date. The first vesting date occurred on March 31, 2025.
- F5. The RSUs vest in equal quarterly installments over a three-year period, on March 31, June 30, September 30 and December 15 of each year, subject to the Reporting Person's continuous service on the applicable vesting date. The first vesting date occurred on March 31, 2026.
- F6. 1,019,022 earned PSUs vested on December 19, 2025, and the remaining earned PSUs vest in substantially equal quarterly installments, subject to the Reporting Person's continuous service on each vesting date. The first such vesting date occurred on March 31, 2026. These earned PSUs have no expiration date.
Key Figures
Shares acquired via exercises: 473,266 shares
Tax-withheld shares: 241,603 shares
Tax withholding price: $24.50 per share
+4 more
7 metrics
Shares acquired via exercises
473,266 shares
Derivative exercises of awards into common stock on June 30, 2026
Tax-withheld shares
241,603 shares
Shares delivered to cover taxes at $24.50 per share
Tax withholding price
$24.50 per share
Value used for F-code tax-withholding dispositions
Direct common stock holdings
9,078,287 shares
Common stock directly owned after June 30, 2026 transactions
Indirect common stock holdings
400,000 shares
Held through Impa Holdings LLC for a family trust
Earned PSUs outstanding
1,528,532 units
Performance stock units remaining after 254,756-unit conversion
RSU grant balance
3,404,883 units
Restricted stock units remaining after 113,225-unit conversion
Key Terms
Restricted Stock Units, Performance Stock Units, tax-withholding disposition, derivative security, +1 more
5 terms
Restricted Stock Units financial
"The RSUs vest in equal quarterly installments over a three-year period"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Stock Units financial
"Each performance stock unit ("PSU") represents a contingent right to receive one share"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
contingent right financial
"represents a contingent right to receive one share of the Issuer's Common Stock"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Cipher Digital (CIFR) CEO Page Tyler report in this Form 4?
Page Tyler reported equity compensation activity, including exercises of performance and restricted stock units into Cipher Digital common stock and related tax-withholding share dispositions. These entries reflect routine compensation mechanics, not open-market purchases or sales, and update Tyler’s direct and indirect ownership positions in CIFR shares.
Were Page Tyler’s Cipher Digital (CIFR) transactions open-market trades or compensation-related events?
The reported transactions are compensation-related events. Codes “M” show exercises or conversions of derivative securities like RSUs and PSUs, while code “F” entries represent shares delivered to cover taxes. There are no open-market purchase (P) or sale (S) codes in this Form 4.
How are Page Tyler’s performance stock units and restricted stock units in Cipher Digital (CIFR) structured?
Each restricted stock unit and performance stock unit represents a contingent right to one Cipher Digital common share. Footnotes explain that RSUs and earned PSUs vest in substantially equal quarterly installments over three-year periods, subject to Tyler’s continuous service with the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
