Tyler Page - 01 Jan 2022 Form 4 Insider Report for Cipher Mining Inc. (CIFR)

Role: Chief Executive Officer, Director
Signature: /s/ William Iwaschuk, Attorney-in-Fact for Tyler Page
Issuer symbol: CIFR
Transactions as of: 01 Jan 2022
Transactions value $: -$1,753,339
Form type: 4
Filing time: 04 Jan 2022, 20:13:59 UTC
Previous filing: 10 Dec 2021
Next filing: 15 Sep 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CIFR	Common Stock	Options Exercise		+710K	+25.12%		3.53M	01 Jan 2022	Direct	F1
transaction	CIFR	Common Stock	Tax liability	-$1.75M	-379K	-10.71%	$4.63	3.16M	01 Jan 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CIFR	Restricted Stock Units	Options Exercise	$0	-710K	-25%	$0.00	2.13M	01 Jan 2022	Common Stock	710K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
F2	The RSUs vest in equal installments on each of January 1, 2022, January 1, 2023, January 1, 2024 and January 1, 2025, subject to the Reporting Person's continuous service on the applicable vesting date. The RSUs have no expiration date.