Cipher Mining shares drop as co-presidents file 10b5-1 plans to sell stock through 2027

Cipher Mining shares slid to session lows after filings revealed that both of the company’s co-presidents have set up structured plans to sell stock over the next couple of years. The Rule 10b5-1 plans, filed by Patrick Arthur Kelly and William Iwaschuk, allow for share sales extending through 2027.

The details behind the selling plans

Kelly’s Rule 10b5-1 plan was adopted on May 12, 2025. Prior transactions under his name showed a weighted average sale price of roughly $17.76 per share.

Iwaschuk’s plan came a few weeks later, enacted on June 5, 2025. He has already sold approximately 173,000 shares for around $3.9 million.

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