[Form 4] Galaxy Digital Inc. Insider Trading Activity

Rhea-AI Filing Summary

Galaxy Digital director Rhonda Adams-Medina executed both an option-related acquisition and an open-market sale on 09/03/2025. She acquired 150,000 shares via an instrument priced at $4.05, and sold 67,500 Class A shares in multiple transactions at a weighted average of $24.50 per share. After these reported changes, she beneficially owns 145,386 Class A shares directly. The acquisition includes 62,886 shares to be delivered on settlement of deferred stock unit awards that remain subject to continued service through their vesting dates. An associated option (150,000 shares, $4.05 exercise price) is noted as vested and exercisable through 11/16/2025.

Positive

• Acquired 150,000 shares via an instrument priced at $4.05, increasing potential ownership at a low cost basis
• Direct beneficial ownership remains substantial: 145,386 Class A shares after the transactions
• Option noted as vested and exercisable through 11/16/2025, providing flexibility for future decisions

Negative

• Sold 67,500 shares in multiple transactions at a weighted average price of $24.50, reducing on‑market holdings
• 62,886 shares are DSUs that are subject to continued service through vesting, so they are not immediately transferable or guaranteed

Insights

Financial Analyst

TL;DR: Director reduced liquid share position while exercising/options-related acquisition increased vested exposure at a low exercise price.

The reporting shows a director exercised or otherwise acquired 150,000 shares tied to a $4.05 instrument and concurrently sold 67,500 shares at an aggregate weighted price near $24.50. Net direct holdings post-transactions are 145,386 shares. The acquisition includes DSU-settled shares that remain subject to vesting conditions, so a portion of the increase is contingent on continued service. The mix of exercise/acquisition at a low strike and partial disposition at much higher prices is consistent with liquidity-taking after option-related gain realization.

Corporate Governance Expert

TL;DR: Transactions are routine insider activity combining option exercise/DSU settlement and an open-market sale; some shares remain contingent on continued service.

The Form 4 discloses standard director activity: settlement of deferred stock units and option-related acquisition, plus secondary-market sales. The DSU portion (62,886 shares) is explicitly subject to continued service through vesting dates, which is relevant for assessing true long-term alignment. The filing is properly disclosed and shows no unusual encumbrances or transfers to related parties.

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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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^*

Adams Medina Rhonda

(Last) (First) (Middle)

C/O GALAXY DIGITAL INC.

300 VESEY STREET

(Street)

NEW YORK NY 10282

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Galaxy Digital Inc. [ GLXY ]

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)
09/03/2025

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
Class A Common Stock	09/03/2025		M		150,000	A	$4.05	212,886(1)	D
Class A Common Stock	09/03/2025		S		67,500	D	$24.5(2)	145,386(1)	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
Stock Options	$4.05	09/03/2025		M			150,000	(3)	11/16/2025	Class A Common Stock	150,000	$0	0	D

Explanation of Responses:

1. Includes 62,886 shares of Class A common stock to be delivered in settlement of DSU awards. The DSU awards, in each case, are subject to continued service through the applicable vesting date.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.48 to $24.63 per share. The holder undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. This option is vested and exercisable until November 16th, 2025.

Remarks:

	/s/ Francesca Don Angelo, Attorney-in-Fact for Rhonda Adams-Medina	09/04/2025
	** 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.

FAQ

What transactions did Rhonda Adams-Medina report on Form 4 for GLXY?

She reported an acquisition of 150,000 shares tied to a $4.05 instrument and a sale of 67,500 Class A shares at a weighted average of $24.50.

How many Class A shares does the reporting person own after these transactions?

The Form 4 shows 145,386 Class A shares beneficially owned directly following the reported transactions.

Are any of the acquired shares contingent or restricted?

Yes. The filing states 62,886 shares are to be delivered in settlement of DSU awards and remain subject to continued service through vesting.

Is there any information about options or exercise rights in the filing?

An option for 150,000 shares with a conversion/exercise price of $4.05 is listed as vested and exercisable until 11/16/2025.

Was the sale price for the shares a single price or a range?

The sale was executed in multiple transactions; the reported weighted average is $24.50, with individual prices ranging from $24.48 to $24.63.