CIFR Form 4: CFO RSUs vesting 393,086 shares; sales total 200,671

Q: What did Cipher Mining CFO Edward J. Farrell report on Form 4 (CIFR)?

The Form 4 reports RSU vesting of 366,667 and 26,419 shares and sales of 187,184 and 13,487 shares at $12.59 on 09/30/2025 .

Q: How many RSUs vested for CIFR's CFO on 09/30/2025?

A total of 393,086 RSUs vested ( 366,667 and 26,419 ), each representing one share upon vesting.

Q: How many shares did the CFO sell and at what price?

The CFO sold a combined 200,671 shares in two transactions at an indicated price of $12.59 per share.

Q: When do the disclosed RSUs vest according to the filing?

One RSU grant vests in equal installments on September 13, 2023 , September 13, 2024 , and September 30, 2025 ; another vests in equal quarterly installments beginning March 31, 2025 .

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Edward J. Farrell, the Chief Financial Officer of Cipher Mining Inc. (CIFR), reported multiple transactions on 09/30/2025 on a Form 4. The filing shows vesting of restricted stock units totaling 393,086 RSUs (split as 366,667 and 26,419), each converting to one share on vesting. The filing also discloses dispositions of 187,184 and 13,487 shares sold at $12.59 per share. Following the reported transactions, the reported beneficial ownership counts changed through a sequence of entries, with the last reported direct beneficial ownership of common stock shown as 1,482,622 shares.

Positive

RSU vesting of 366,667 and 26,419 shares (total 393,086) increases direct share holdings
Reporting person remains CFO and continues to hold a sizable reported position (beneficial ownership figures listed)

Negative

Dispositions of 187,184 and 13,487 shares (total 200,671) sold at $12.59 reduced direct holdings

Insights

CFO reported RSU vesting of 393,086 shares and sales of 200,671 shares at $12.59.

The filing documents two RSU vesting events converting to 393,086 common shares on 09/30/2025, which increases the CFO's share exposure as compensation vests. Simultaneously, the CFO sold a total of 200,671 shares in two transactions at $12.59, reducing immediate direct holdings.

These are routine, contemporaneous compensation vesting and partial sales disclosed under Section 16; they are material to holders only to the extent insider flows affect supply or signal personal liquidity choices. All figures are taken directly from the Form 4 filing.

Insider Trade Summary

393,086 shares exercised/converted

Mixed 6 txns

Insider FARRELL EDWARD J

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	366,667	$0.00	--
Exercise	Restricted Stock Units	26,419	$0.00	--
Exercise	Common Stock	366,667	$0.00	--
Tax Withholding	Common Stock	187,184	$12.59	$2.36M
Exercise	Common Stock	26,419	$0.00	--
Tax Withholding	Common Stock	13,487	$12.59	$170K

Holdings After Transaction: Restricted Stock Units — 1,162,310 shares (Direct); Common Stock — 1,656,874 shares (Direct)

Footnotes (1)

Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock. The RSUs vest in equal installments on each of September 13, 2023, September 13, 2024 and September 30, 2025, subject to the Reporting Person's continuous service on the applicable vesting date. 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.

Form 4 Insider Transactions: What Each Field Means →

10/02/2025 - 06:55 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

1. Name and Address of Reporting Person^*

FARRELL EDWARD J

(Last)

(First)

(Middle)

C/O CIPHER MINING INC.

1 VANDERBILT AVENUE, FLOOR 54

(Street)

NEW YORK

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/30/2025		M		366,667	A	⁽¹⁾	1,656,874	D
Common Stock	09/30/2025		F		187,184	D	$12.59	1,469,690	D
Common Stock	09/30/2025		M		26,419	A	⁽¹⁾	1,496,109	D
Common Stock	09/30/2025		F		13,487	D	$12.59	1,482,622	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	09/30/2025		M			366,667	⁽²⁾	⁽²⁾	Common Stock	366,667	$0	1,162,310	D
Restricted Stock Units	⁽¹⁾	09/30/2025		M			26,419	⁽³⁾	⁽³⁾	Common Stock	26,419	$0	1,135,891	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. The RSUs vest in equal installments on each of September 13, 2023, September 13, 2024 and September 30, 2025, subject to the Reporting Person's continuous service on the applicable vesting date.

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 Edward J. Farrell	10/02/2025
	** 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).
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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Cipher Mining CFO Edward J. Farrell report on Form 4 (CIFR)?

The Form 4 reports RSU vesting of 366,667 and 26,419 shares and sales of 187,184 and 13,487 shares at $12.59 on 09/30/2025.

How many RSUs vested for CIFR's CFO on 09/30/2025?

A total of 393,086 RSUs vested (366,667 and 26,419), each representing one share upon vesting.

How many shares did the CFO sell and at what price?

The CFO sold a combined 200,671 shares in two transactions at an indicated price of $12.59 per share.

What is the reported beneficial ownership after the transactions?

The Form 4 lists sequential post-transaction common stock ownership counts, with the last reported direct beneficial ownership shown as 1,482,622 shares.

When do the disclosed RSUs vest according to the filing?

One RSU grant vests in equal installments on September 13, 2023, September 13, 2024, and September 30, 2025; another vests in equal quarterly installments beginning March 31, 2025.