Company: CIFRW
Filing Date: 2025-10-06
Form Type: 8-K
Source: 0001819989-25-000095
Chunk: 1

Company: Cipher Mining Inc.
Filing Date: 2025-10-06
Form: 8-K
Item: Item 5.02
Chunk 1
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 but also for his leadership throughout the broader organization, serving key roles in the firm’s recruitment and training programs. Prior to joining KBW, Mr. Mumford held various roles at one of Canada’s largest banks in their commercial and corporate banking group.

On October 6, 2025, Mr. Mumford and Cipher entered into an employment agreement (the “ Mumford Employment Agreement”) governing the terms of his service as Cipher’s Chief Financial Officer. Pursuant to the Mumford Employment Agreement, beginning on October 14, 2025, Mr. Mumford will receive a base salary of $500,000 per year and discretionary annual cash performance bonus under the applicable Company bonus plan or program, prorated for the partial service for the 2025 fiscal year. Mr. Mumford will also be eligible to participate in and receive equity awards pursuant to Cipher’s 2021 Incentive Award Plan at the discretion of the Compensation Committee of the Company’s Board of Directors.

In addition, Mr. Mumford will receive a sign-on equity award of 375,000 restricted stock units, which will vest in equal annual installments over a three-year period. Cipher will also enter into Cipher’s standard indemnification agreement in favor of Mr. Mumford.

If Mr. Mumford is terminated without cause or resign for good reason, subject to Mr. Mumford’s execution and non-revocation of a release of claims, Cipher will continue to pay his base salary and provide subsidized continued healthcare coverage for Mr. Mumford and his eligible dependents for 12 months following the termination. The severance benefits provided under the Mumford Employment Agreement are consistent with those provided to Cipher’s other executive officers.

Mr. Mumford has no family relationships with any of Cipher’s directors or executive officers, and has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

This description of the Mumford Employment Agreement is qualified in its entirety by reference to the full text of the Mumford Employment Agreement, which is expected to be filed as an exhibit to Cipher’s Annual Report on Form 10-K for the fiscal year ending December 31, 2025.

Item 7.01 Regulation FD Disclosure.