Director William Li of Cypherpunk (CYPH) receives 168,750 shares from RSU settlements

Rhea-AI Filing Summary

Cypherpunk Technologies Inc. director William Li acquired shares through the settlement of previously granted restricted stock units. On March 13, 2026, 74,700 RSUs granted on November 11, 2025 and 94,050 RSUs granted on December 23, 2025 were settled on a 1-for-1 basis into common stock for no cash consideration.

These RSUs vested at issuance on their grant dates and were granted under the company’s 2022 and 2025 equity incentive plans. Following the settlements, Li directly holds 168,750 shares of common stock, and no RSU derivatives from these grants remain outstanding.

Insider Trade Summary

168,750 shares exercised/converted

Mixed 4 txns

Insider LI WILLIAM

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
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).

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^*

LI WILLIAM

(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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Cypherpunk Technologies (CYPH) director William Li report on this Form 4?

William Li reported the settlement of previously granted restricted stock units into common shares. Two RSU grants vested at issuance and converted on March 13, 2026 into common stock, increasing his direct equity stake without any open-market purchases or sales.

How many Cypherpunk Technologies (CYPH) shares did William Li acquire through RSU settlements?

William Li acquired 168,750 common shares through RSU settlements. This consisted of 74,700 RSUs from a November 11, 2025 grant and 94,050 RSUs from a December 23, 2025 grant, each converting on a 1-for-1 basis into Cypherpunk common stock.

Were any Cypherpunk Technologies (CYPH) shares sold in William Li’s latest Form 4?

No shares were sold in this Form 4. The filing only shows RSU exercises and conversions into common stock at no cash cost, with no reported dispositions, tax withholdings, or open-market sales associated with these equity awards.

What equity plans were involved in William Li’s Cypherpunk (CYPH) RSU settlements?

The RSUs came from Cypherpunk’s 2022 Equity Incentive Plan and 2025 Equity Incentive Plan. One 74,700-unit grant from November 2025 and one 94,050-unit grant from December 2025 vested at issuance and later settled into common stock on March 13, 2026.

When did William Li’s Cypherpunk (CYPH) RSUs vest and settle into shares?

Both RSU grants vested at issuance on their respective grant dates in November and December 2025. They were then settled on March 13, 2026, converting on a 1-for-1 basis into Cypherpunk common stock as part of his equity compensation.

What is William Li’s direct Cypherpunk Technologies (CYPH) shareholding after this Form 4?

After the RSU settlements, William Li directly holds 168,750 shares of Cypherpunk common stock. This reflects the full conversion of the 74,700 November 2025 RSUs and the 94,050 December 2025 RSUs, with no remaining RSUs from these grants outstanding.