Form 4: CleanSpark CFO Reports Insider Stock Transactions

CleanSpark's President and CFO, Gary Anthony Vecchiarelli, reported the exercise of restricted stock units and a subsequent sale of shares for tax withholding purposes.

Summary

• Gary Anthony Vecchiarelli, President and CFO of CleanSpark, Inc. (CLSK), reported insider transactions.
• On December 3, 2025, Vecchiarelli acquired 1,606 shares of common stock upon the exercise of restricted stock units (RSUs) at a price of $0.
• Following this, on December 5, 2025, 632 shares of common stock were disposed of at a weighted average price of $14.0729 per share, likely to cover tax liabilities related to the RSU vesting.
• The sales price for the disposed shares ranged from $13.92 to $14.16 per share.
• After these transactions, Vecchiarelli directly beneficially owns 618,969 shares of common stock.
• Vecchiarelli also holds various grants of Restricted Stock Units (RSUs) with future vesting schedules, totaling 429,515, 417,750, 557,000, and 12,848 units respectively.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions involving the exercise of restricted stock units and a subsequent sale of shares for tax purposes. This is a neutral event, reflecting standard equity compensation practices rather than a significant positive or negative signal about the company's prospects.

Positives

• Acquisition of 1,606 shares of common stock through the exercise of restricted stock units, indicating vesting of equity compensation.
• Significant holdings of common stock (618,969 shares) and substantial unvested Restricted Stock Units (totaling 1,417,113 units across various grants), aligning management's interests with shareholders.

Negatives

• Disposal of 632 shares of common stock at a weighted average price of $14.0729, likely for tax withholding purposes, which reduces direct common stock ownership.

Future Outlook

The filing details future vesting schedules for various Restricted Stock Unit grants, indicating ongoing equity compensation for the reporting person through September 2028.

Industry Context

This Form 4 filing represents a routine insider transaction, common across all industries, where executives exercise equity compensation and often sell a portion of the resulting shares to cover tax obligations. It does not provide specific insights into CleanSpark's operational performance or broader industry trends.

Related Party Transactions

• The transactions involve equity compensation (Restricted Stock Units) granted by CleanSpark, Inc. to its President and CFO, Gary Anthony Vecchiarelli, which is a common form of related party transaction between a company and its executive officers.

Stakeholder Impact

• Shareholders: Minimal direct impact. The sale of 632 shares is a very small fraction of the company's outstanding shares and the officer's total holdings. The vesting of RSUs aligns management incentives with shareholder value.
• Employees: No direct impact mentioned.
• Management: The transactions reflect the ongoing compensation structure for the President and CFO.

Next Steps

• Continued vesting of 429,515 Restricted Stock Units in equal annual installments through September 4, 2028.
• Continued vesting of 557,000 Restricted Stock Units in equal annual installments through September 4, 2028.
• Continued vesting of 417,750 Restricted Stock Units in equal semiannual installments through September 4, 2028.
• Continued vesting of 12,848 Restricted Stock Units in equal quarterly installments through December 3, 2027.

Key Dates

Recommendation

This Form 4 details routine insider transactions, specifically the exercise of restricted stock units and a subsequent sale of a small portion of shares to cover tax obligations. Such transactions are common and generally do not signal a significant change in the company's fundamentals or the insider's long-term view. The volume of shares sold is minimal relative to the insider's total holdings, and the continued holding of substantial unvested RSUs suggests ongoing alignment with shareholder interests. Therefore, based solely on this filing, a 'hold' recommendation is appropriate as it provides no new material information to alter an existing investment thesis.

Keywords

CleanSpark, CLSK, Insider Trading, Form 4, Stock Transaction, Restricted Stock Units, RSU, Gary Anthony Vecchiarelli, CFO, President, Equity Compensation, Share Sale, Tax Withholding