Cipher Mining (CIFR) CEO Tyler Page details RSU vesting and share transactions

Rhea-AI Filing Summary

Cipher Mining Inc. director and chief executive officer Tyler Page reported multiple equity transactions dated December 15, 2025. Restricted stock units were converted into 1,567,398 and 113,225 shares of common stock through transactions coded “M,” reflecting early vesting and settlement of the second installment of an RSU award granted on March 9, 2024 and vesting under another RSU grant. Additional transactions coded “F” show dispositions of 800,157 and 57,802 common shares at $14.74 per share. After these transactions, Page directly beneficially owned 7,802,551 shares of Cipher Mining common stock and 2,806,528 restricted stock units.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Page Tyler

(Last) (First) (Middle)

C/O CIPHER MINING INC.

1 VANDERBILT AVENUE, FLOOR 54

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cipher Mining Inc. [ CIFR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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

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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/15/2025		M		1,567,398	A	(1)	8,547,285	D
Common Stock	12/15/2025		F		800,157	D	$14.74	7,747,128	D
Common Stock	12/15/2025		M		113,225	A	(1)	7,860,353	D
Common Stock	12/15/2025		F		57,802	D	$14.74	7,802,551	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	12/15/2025		M			1,567,398	(2)	(2)	Common Stock	1,567,398	$0	2,919,753	D
Restricted Stock Units	(1)	12/15/2025		M			113,225	(3)	(3)	Common Stock	113,225	$0	2,806,528	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.

2. Represents the early vesting and settlement of the second installment of the RSU award granted on March 9, 2024.

3. 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.

Remarks:

	/s/ William Iwaschuk, Attorney-in-Fact for Tyler Page	12/17/2025
	** 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 4 (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).
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FAQ

What insider activity did Cipher Mining (CIFR) report in this Form 4?

The filing shows that director and chief executive officer Tyler Page reported transactions on December 15, 2025, including the conversion of restricted stock units into common stock and related dispositions of common shares at $14.74 per share.

How many Cipher Mining (CIFR) shares did Tyler Page own after the reported transactions?

Following the reported activity, Tyler Page beneficially owned 7,802,551 shares of Cipher Mining common stock directly and 2,806,528 restricted stock units.

What restricted stock unit (RSU) awards are described for Cipher Mining CEO Tyler Page?

One RSU award involved 1,567,398 units, described as the early vesting and settlement of the second installment of an award granted on March 9, 2024. Another RSU grant of 113,225 units vests in equal quarterly installments over three years.

How do Tyler Page’s RSUs in Cipher Mining (CIFR) vest over time?

The RSUs described 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 continuous service. The first vesting date for this schedule occurred on March 31, 2025.

What were the share disposition details reported by Cipher Mining CEO Tyler Page?

On December 15, 2025, Page reported dispositions coded “F” of 800,157 and 57,802 shares of Cipher Mining common stock, both at a price of $14.74 per share.

What transaction codes were used in Tyler Page’s Cipher Mining Form 4?

The Form 4 uses transaction code “M” for the conversion of restricted stock units into common stock and code “F” for the reported dispositions of common shares at $14.74 per share.