Cypherpunk Technologies (CYPH) director converts 168,750 RSUs into common shares

Rhea-AI Filing Summary

Cypherpunk Technologies Inc. director Mashiach Nissim settled previously granted stock awards into common shares. On March 13, 2026, Nissim exercised and settled 74,700 restricted stock units granted in November 2025 and 94,050 restricted stock units granted in December 2025 on a 1-for-1 basis into the same number of shares of common stock, for no cash consideration. These RSU grants had vested at issuance, and following the settlements Nissim directly owns 168,750 shares of Cypherpunk Technologies common stock. The filing shows no share sales or tax-withholding dispositions associated with these transactions, indicating a net increase in his equity stake.

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^*

Mashiach Nissim

(Last) (First) (Middle)

C/O CYPHERPUNK TECHNOLOGIES INC.

47 THORNDIKE STREET SUITE B1-1

(Street)

CAMBRIDGE MA 02141

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CYPHERPUNK TECHNOLOGIES INC. [ CYPH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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	03/13/2026		M(1)		74,700	A	(1)	74,700	D
Common Stock	03/13/2026		M(2)		94,050	A	(2)	168,750	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	$0	03/13/2026		M(1)			74,700	(3)	(3)	Common Stock	74,700	$0	0	D
Restricted Stock Units	$0	03/13/2026		M(2)			94,050	(4)	(4)	Common Stock	94,050	$0	0	D

Explanation of Responses:

1. 74,700 Restricted Stock Units ("RSUs") previously granted by Cypherpunk Technologies Inc. (the "Company") to the reporting person on November 11, 2025 pursuant to the Company's 2022 Equity Incentive Plan for no consideration (the "November 2025 RSUs") were settled on March 13, 2026 on a 1 for 1 basis for shares of the Company's common stock, par value $0.001 per share ("Common Stock").

2. 94,050 RSUs previously granted by the Company to the reporting person on December 23, 2025 pursuant to the Company's 2025 Equity Incentive Plan for no consideration (the "December 2025 RSUs") were settled on March 13, 2026 on a 1 for 1 basis for shares of Common Stock.

3. The November 2025 RSUs vested at issuance on their grant date.

4. The December 2025 RSUs vested at issuance on their grant date.

	/s/ Douglas E. Onsi as attorney-in-fact for the reporting person	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Mashiach Nissim report at CYPHERPUNK TECHNOLOGIES INC. (CYPH)?

Director Mashiach Nissim reported settling previously granted restricted stock units into common shares. On March 13, 2026, he converted 74,700 and 94,050 RSUs into the same number of Cypherpunk Technologies common shares, increasing his direct equity ownership without any reported share sales.

How many Cypherpunk Technologies (CYPH) shares did Mashiach Nissim acquire in this Form 4 filing?

Mashiach Nissim acquired 168,750 Cypherpunk Technologies common shares through RSU settlements. The filing shows 74,700 RSUs from November 2025 and 94,050 RSUs from December 2025 converted 1-for-1 into shares, resulting in total direct ownership of 168,750 common shares after the transactions.

Were any Cypherpunk Technologies (CYPH) shares sold or withheld for taxes in this Form 4?

The Form 4 shows no open-market sales or tax-withholding dispositions. All reported transactions are exercises and settlements of restricted stock units into common shares at no cash cost, indicating a net increase in director Mashiach Nissim’s directly held Cypherpunk Technologies equity position.

What were the grant details of the RSUs settled by Mashiach Nissim at Cypherpunk Technologies (CYPH)?

The 74,700 RSUs were granted on November 11, 2025 under the 2022 Equity Incentive Plan, and 94,050 RSUs were granted on December 23, 2025 under the 2025 Equity Incentive Plan. Both awards vested at issuance and were settled 1-for-1 into common shares on March 13, 2026.

How did this Form 4 change Mashiach Nissim’s holdings in Cypherpunk Technologies (CYPH)?

After the RSU settlements, Mashiach Nissim directly holds 168,750 Cypherpunk Technologies common shares. The transactions represent the full conversion of the reported RSU grants into stock, with no remaining derivative position from those specific awards disclosed in this filing.

What type of transactions are reported for Cypherpunk Technologies (CYPH) in this Form 4?

All reported transactions are coded “M,” indicating exercises or conversions of derivative securities. Specifically, restricted stock units were settled into common shares at a zero exercise price, reflecting compensation-related equity delivery rather than market purchases or sales of Cypherpunk Technologies stock.