Thomas W. Farley - 18 Mar 2026 Form 3 Insider Report for Bullish (BLSH)

Role: Chief Executive Officer, Director
Signature: /s/ Thomas W Farley
Issuer symbol: BLSH
Transactions as of: 18 Mar 2026
Net transactions value: $0
Form type: 3
Filing time: 18 Mar 2026, 18:06:00 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Farley Thomas W	Chief Executive Officer, Director	OFFICE 101, 103, 105 SUITE 70202, BLDG A, BLOCK 7, 60 NEXUS WAY, CAMANA BAY, GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS	/s/ Thomas W Farley	18 Mar 2026	0001390563

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
holding	BLSH	Incentive Units							18 Mar 2026	Ordinary Shares	5,053,528	$0.000000	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Mr. Farley holds incentive units in BMC1, a subsidiary of Bullish, which are exchangeable for up to an aggregate of 5,053,528 Ordinary Shares of Bullish upon vesting. The incentive units are subject to time-based vesting and performance conditions. As of the date of this filing, 3,370,308 of the underlying Ordinary Shares are vested. No consideration is payable upon conversion.

Remarks:

Due to the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b) under the Act, the reporting person's transactions in the issuer's equity securities are exempt from Sections 16(b) and 16(c) of the Act.