Form 4: CleanSpark CEO Zachary Bradford Sells Shares to Cover Tax Obligations
SEC Form 4
CleanSpark's CEO, Zachary Bradford, sold 10,533 shares of common stock on May 15, 2025, to cover tax liabilities related to the vesting of Restricted Stock Units (RSUs).
Summary
- On May 15, 2025, Zachary Bradford, CEO and President of CleanSpark, Inc. sold 10,533 shares of CleanSpark common stock.
- The sale was executed to cover Mr. Bradford's tax liability associated with the vesting of his RSUs.
- The shares were sold at a weighted average price of $9.2058, with individual sales ranging from $9.0101 to $9.3701.
- Following the transaction, Mr. Bradford directly owns 3,048,793 shares of common stock, which includes 321,199 RSUs vesting in installments through December 3, 2027, and 450,000 RSUs vesting on September 12, 2025.
- He also indirectly owns 323,864 shares through ZRB Holdings Inc., where he is the sole shareholder, and directly owns 500,000 shares of Series A Preferred stock.
Sentiment
Score: 6
Explanation: The document is neutral. It simply reports a transaction related to executive compensation and tax obligations. It's a routine filing.
Industry Context
Executive stock sales are a common occurrence, particularly to cover tax obligations related to equity compensation. The market typically assesses these sales based on the size of the transaction relative to the executive's holdings and the company's overall trading volume.
Stakeholder Impact
- The sale could have a minor impact on shareholders due to the slight dilution of shares, but it is unlikely to be significant given the relatively small number of shares sold compared to the total outstanding.
Key Dates
| Date | Description |
|---|---|
| 05/15/2025 | Date of the stock sale transaction. |
| 02/13/2025 | First vesting date of 321,199 RSUs in quarterly installments. |
| 05/13/2025 | Second vesting date of 321,199 RSUs in quarterly installments. |
| 08/13/2025 | Third vesting date of 321,199 RSUs in quarterly installments. |
| 09/12/2025 | Vesting date for 450,000 RSUs. |
| 12/03/2025 | Fourth vesting date of 321,199 RSUs in quarterly installments. |
| 02/13/2026 | Fifth vesting date of 321,199 RSUs in quarterly installments. |
| 05/13/2026 | Sixth vesting date of 321,199 RSUs in quarterly installments. |
| 08/13/2026 | Seventh vesting date of 321,199 RSUs in quarterly installments. |
| 12/03/2026 | Eighth vesting date of 321,199 RSUs in quarterly installments. |
| 02/12/2027 | Ninth vesting date of 321,199 RSUs in quarterly installments. |
| 05/13/2027 | Tenth vesting date of 321,199 RSUs in quarterly installments. |
| 08/13/2027 | Eleventh vesting date of 321,199 RSUs in quarterly installments. |
| 12/03/2027 | Twelfth vesting date of 321,199 RSUs in quarterly installments. |
Keywords
CleanSpark, Zachary Bradford, CLSK, share sale, Form 4, RSU vesting, tax liability, insider trading, ZRB Holdings Inc., Series A Preferred
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