GLXY insider grant: 240,000 RSUs plus 300,000 options with 4‑yr vesting

Rhea-AI Filing Summary

Galaxy Digital Chief Legal Officer Matthew W. Friedrich received equity awards on 09/08/2025 consisting of 240,000 restricted stock units (RSUs) and three stock option grants of 100,000 shares each (total 300,000 options). Each RSU represents one share of Class A common stock and the 240,000 RSUs are scheduled to vest in four equal annual installments beginning on the first anniversary of the grant, subject to continued service. Each option award vests over four years with 25% vesting on each of the first four anniversaries of 09/08/2025 and expires on 09/08/2030. The option exercise prices are stated as 28.49, 33.49 and 23.49 respectively. The filing reports these holdings as direct beneficial ownership following the transactions.

Positive

• Clear vesting schedules for both RSUs and options (four equal annual installments) provide transparency
• Significant equity alignment as RSUs convert to Class A common stock and options have defined exercise prices and expirations
• Full disclosure of quantities and exercise prices enables investor assessment of timing and potential dilution

Negative

• None.

Insights

Corporate Governance Expert

TL;DR Executive awarded RSUs and time‑vesting options to align incentives with shareholders; schedules are standard multi‑year vesting.

The grants to the Chief Legal Officer are disclosed as direct holdings and follow a four‑year vesting cadence for both RSUs and options. These are routine compensation events that create a multi‑year retention mechanism tied to continued service. The filing provides clear vesting dates, quantities, and option exercise prices, enabling investors to assess potential dilution and timing of equity delivery.

Compensation Analyst

TL;DR Total award equals 540,000 equity instruments with explicit vesting and exercise prices; structure is consistent with standard executive packages.

The award package comprises 240,000 RSUs and 300,000 stock options (three grants of 100,000 each) granted on 09/08/2025. RSUs convert to Class A common stock upon vesting. Options have exercise prices of 28.49, 33.49 and 23.49 and a 09/08/2030 expiration. Vesting in equal annual installments over four years is disclosed, making the timing and magnitude transparent for modelling compensation expense and potential share issuance.

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^*

Friedrich Matthew W.

(Last) (First) (Middle)

300 VESEY ST.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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	09/08/2025		A		240,000	A	(1)	240,000(2)	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	$28.49	09/08/2025		A		100,000		(3)	09/08/2030	Class A Common Stock	100,000	$0	100,000	D
Stock Options	$33.49	09/08/2025		A		100,000		(3)	09/08/2030	Class A Common Stock	100,000	$0	100,000	D
Stock Options	$23.49	09/08/2025		A		100,000		(3)	09/08/2030	Class A Common Stock	100,000	$0	100,000	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents the right to receive one share of the Company's Class A Common Stock.

2. Includes 240,000 shares of Class A Common Stock to be delivered in settlement of RSUs. 240,000 RSUs were granted on September 8, 2025 and 1/4 are scheduled to vest on each of the first four anniversaries of September 8, 2025, subject to continued service through the vesting date.

3. This option award was granted September 8, 2025 and vests over four years, with 1/4 vesting on each of the first four anniversaries of September 8, 2025, subject to continued service through the vesting date.

Remarks:

	/s/Francesca Don Angelo, Attorney-in-Fact for Matthew W. Friedrich	09/09/2025
	** 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 equity awards did Matthew W. Friedrich receive in the GLXY Form 4?

He received 240,000 RSUs and 300,000 stock options (three grants of 100,000 each) on 09/08/2025.

When do the RSUs and options vest for GLXY insider Matthew W. Friedrich?

Both the RSUs and the options vest over four years, with 25% vesting on each of the first four anniversaries of 09/08/2025, subject to continued service.

What are the exercise prices and expiration dates of the GLXY option grants?

The options have exercise prices of 28.49, 33.49, and 23.49, were granted 09/08/2025 and expire on 09/08/2030.

How many shares will the 240,000 RSUs convert into?

Each RSU represents the right to receive one share of Class A common stock, so 240,000 RSUs equal 240,000 shares upon settlement.

Are these holdings reported as direct or indirect beneficial ownership?

The filing reports these holdings as direct beneficial ownership following the transactions.