Bullish (BLSH) director Blumer exercised or converted 7,813 units

Insider transactions reported

Brendan Francis Blumer (director at Bullish, BLSH) reported that they exercised or converted 7,813 units on Apr 2, 2026.

Reporting person

Blumer Brendan Francis

Options and other derivatives

Holdings before and after

• Call Option (obligation to sell): 7,813 to 0 indirect, See Footnote

Other positions listed

• Ordinary Shares: 39,157,869 direct
• Ordinary Shares: 4,139 direct

Footnotes from the filing

1. 1. Represents 4,139 restricted share units ( RSUs ) granted to the Reporting Person on November 6, 2025, pursuant to the Bullish 2025 Omnibus Incentive Plan. The RSUs vest in full on September 1, 2026.
2. 2. Represents the exercise and settlement of the remaining 7,813 shares subject to a previously disclosed call option agreement, as amended and modified from time to time, between Buttonwood Investments I ( Buttonwood ) and the optionholders thereto. Buttonwood is an exempted company domiciled in the Cayman Islands with limited liability. Brendan Blumer (the Reporting Person ) holds 100% of the outstanding equity interests in Buttonwood and is a director of Buttonwood. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the Exchange Act ), except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is or was the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose

Transaction codes in this filing

Exercise of an in-the-money derivative:

Code X marks the exercise of a derivative that was in or at the money.

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