Form 4: CleanSpark Chief Technology Officer Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
CleanSpark's Chief Technology Officer, Taylor Monnig, sold 1,350 shares of common stock at $14.35 per share on November 29, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Taylor Monnig, the Chief Technology Officer of CleanSpark, Inc., sold 1,350 shares of common stock on November 29, 2024.
- The sale was executed at a price of $14.35 per share.
- This transaction was conducted under a Rule 10b5-1 trading plan adopted by Mr. Monnig on December 21, 2023.
- Following the transaction, Mr. Monnig still beneficially owns 202,870 shares of CleanSpark stock, which includes unvested Restricted Stock Units (RSUs).
Sentiment
Score: 5
Explanation: The document is a routine SEC filing regarding an insider stock sale under a pre-arranged plan, which is neither positive nor negative for the company's overall outlook.
Future Outlook
The document does not contain any forward-looking statements or guidance.
Industry Context
This is a routine filing related to insider trading activity and is common for executives of publicly traded companies. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a standard practice among executives at publicly traded companies like CleanSpark, similar to practices at companies such as Marathon Digital Holdings (MARA) and Riot Platforms (RIOT).
- These plans allow for pre-scheduled sales of stock to avoid any appearance of trading on inside information.
- The volume of shares sold is relatively small compared to the total shares owned by the executive, which is typical for these types of transactions.
Stakeholder Impact
- The sale of shares by an executive may have a minor impact on investor sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 2023-12-21 | Date Taylor Monnig adopted the Rule 10b5-1 trading plan. |
| 2024-05-07 | Date of RSU grant, part of which vests on September 30, 2025 and September 30, 2026. |
| 2024-11-29 | Date of the reported stock sale by Taylor Monnig. |
| 2025-02-13 | First vesting date for 6,424 RSUs, with subsequent quarterly vesting dates. |
| 2025-09-30 | Vesting date for 33,350 RSUs granted on May 7, 2024. |
| 2026-09-30 | Vesting date for another 33,350 RSUs granted on May 7, 2024. |
Keywords
CleanSpark, CLSK, insider trading, Form 4, Taylor Monnig, 10b5-1 plan, stock sale, executive, Chief Technology Officer, equity securities
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