Edward J. Farrell - Jan 1, 2022 Form 4 Insider Report for Cipher Mining Inc. (CIFR)

Role: Chief Financial Officer
Signature: /s/ William Iwaschuk, Attorney-in-Fact for Edward J. Farrell
Stock symbol: CIFR
Transactions as of: Jan 1, 2022
Transactions value $: -$481,131
Form type: 4
Date filed: 1/4/2022, 08:11 PM
Previous filing: Nov 19, 2021
Next filing: Mar 15, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CIFR	Common Stock	Options Exercise		+234K			234K	Jan 1, 2022	Direct	F1
transaction	CIFR	Common Stock	Tax liability	-$481K	-104K	-44.38%	$4.63	130K	Jan 1, 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	-234K	-25%	$0.00	703K	Jan 1, 2022	Common Stock	234K		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.