Form 4: CleanSpark CDO's Stock Transactions Reported

CleanSpark's Chief Development Officer, Scott Garrison, reported the vesting and tax-related disposition of Restricted Stock Units, increasing his direct common stock holdings.

Summary

• Scott Eugene Garrison, Executive Vice President and Chief Development Officer of CleanSpark, Inc. (CLSK), reported transactions involving common stock and derivative securities.
• On September 30, 2025, Garrison acquired 33,350 shares of common stock through the vesting of Restricted Stock Units (RSUs).
• Concurrently, 14,854 shares were disposed of to cover tax liabilities associated with the RSU vesting; no sale occurred.
• Following these transactions, Garrison directly beneficially owns 171,428 shares of CleanSpark common stock.
• The filing also details various outstanding Employee Stock Options and Restricted Stock Units with future vesting schedules extending through September 2028.

Sentiment

Score: 6

Explanation: The filing reports routine executive compensation events (vesting and tax withholding), which are generally neutral but slightly positive as they confirm the realization of compensation and continued executive alignment with the company's equity.

Positives

• Acquisition of 33,350 shares of common stock through RSU vesting, increasing direct beneficial ownership to 171,428 shares, demonstrating continued executive stake in the company.
• Significant number of outstanding Restricted Stock Units (totaling 1,129,016 shares) and Employee Stock Options (65,139 shares) with future vesting schedules, indicating long-term executive alignment with shareholder interests.

Negatives

• 14,854 shares of common stock were withheld to cover tax liabilities on RSU vesting, representing a reduction in the gross number of shares received by the reporting person.

Future Outlook

The reporting person has significant future vesting events for Restricted Stock Units and Employee Stock Options extending through September 2028, indicating a continued long-term compensation structure tied to company performance.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions related to executive compensation, common across publicly traded companies. It reflects the standard practice of granting equity awards that vest over time to align executive interests with long-term shareholder value.

Stakeholder Impact

• Shareholders: The increase in direct beneficial ownership by a key executive aligns management's interests with shareholder value creation. The tax-related disposition is a standard practice and does not reflect a sale decision by the executive.
• Employees: The vesting of equity awards demonstrates the company's compensation structure for executives, which can influence broader employee incentive programs.

Next Steps

• Future vesting of 50% of 66,700 RSUs on September 30, 2026.
• Ongoing quarterly vesting of 24,090 RSUs through December 3, 2027.
• Ongoing semi-annual vesting of 270,750 RSUs through September 4, 2028.
• Ongoing annual vesting of 396,476 RSUs and 361,000 RSUs through September 4, 2028.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to executive compensation, specifically the vesting of Restricted Stock Units and the subsequent withholding of shares for tax liabilities. These are pre-scheduled events and do not indicate a change in the company's fundamental performance, strategic direction, or warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as this filing provides no new information to alter an existing investment thesis.

Keywords

CleanSpark, CLSK, Form 4, Insider Transaction, Restricted Stock Units, Employee Stock Options, Executive Compensation, Stock Vesting