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

Rhea-AI Filing Summary

Cypherpunk Technologies Inc. director Patricia A. Martin reported the settlement of previously granted restricted stock units into common shares. On March 13, 2026, 74,700 RSUs granted on November 11, 2025 and 94,050 RSUs granted on December 23, 2025 were exchanged on a 1-for-1 basis for common stock at no cash cost.

These RSUs were granted under the company’s 2022 and 2025 equity incentive plans and vested at issuance on their respective grant dates. Following these settlements and related derivative exercises, Martin directly holds 168,750 shares of Cypherpunk common stock, with no remaining RSUs shown in this filing.

Insider Trade Summary

168,750 shares exercised/converted

Mixed 4 txns

Insider Martin Patricia A.

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	74,700	$0.00	--
Exercise	Restricted Stock Units	94,050	$0.00	--
Exercise	Common Stock	74,700	$0.00	--
Exercise	Common Stock	94,050	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 74,700 shares (Direct)

Footnotes (1)

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"). 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. The November 2025 RSUs vested at issuance on their grant date. The December 2025 RSUs vested at issuance on their grant date.

Form 4 Insider Transactions: What Each Field Means →

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
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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).

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^*

Martin Patricia A.

(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.
* 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 transaction did Patricia A. Martin report for Cypherpunk (CYPH)?

Patricia A. Martin reported settling restricted stock units into Cypherpunk common shares. She converted 74,700 RSUs and 94,050 RSUs into the same number of shares, reflecting equity compensation becoming direct share ownership rather than any open-market buying or selling.

How many Cypherpunk (CYPH) shares did Patricia A. Martin receive from RSU settlements?

She received a total of 168,750 Cypherpunk common shares through RSU settlements. This came from 74,700 RSUs granted in November 2025 and 94,050 RSUs granted in December 2025, each converting to common stock on a 1-for-1 basis at no cash cost.

What equity plans were involved in Patricia A. Martin’s Cypherpunk (CYPH) RSU grants?

The RSUs were granted under Cypherpunk’s 2022 Equity Incentive Plan and 2025 Equity Incentive Plan. The 74,700 RSUs came from a November 2025 grant, and the 94,050 RSUs came from a December 2025 grant, both provided for no consideration as equity compensation.

When did the RSUs reported by Patricia A. Martin in Cypherpunk (CYPH) vest and settle?

The RSUs vested at issuance on their respective grant dates and later settled on March 13, 2026. Vesting at issuance means the awards were fully earned when granted, with actual share delivery occurring later through the reported settlement event.

How many Cypherpunk (CYPH) shares does Patricia A. Martin own after the reported Form 4 transactions?

After the reported transactions, she directly owns 168,750 Cypherpunk common shares. This total reflects the conversion of her previously granted RSUs into common stock, with no remaining RSU derivative positions shown in the filing’s derivative summary section.

Did Patricia A. Martin buy or sell Cypherpunk (CYPH) shares on the market in this Form 4?

The Form 4 shows exercises and settlements of RSUs into common shares, not open-market purchases or sales. All transactions are coded as derivative exercises, converting previously granted RSUs into common stock at a price of $0.0000 per share.