Form 4: CleanSpark Executive Chairman S. Matthew Schultz Sells Shares to Cover Tax Obligations

S. Matthew Schultz, Executive Chairman of CleanSpark, sold 9,010 shares of common stock on May 15, 2025, to cover tax liabilities related to RSU vesting.

Summary

• On May 15, 2025, S. Matthew Schultz, the Executive Chairman of CleanSpark, sold 9,010 shares of CleanSpark's common stock.
• The sale was executed to cover the reporting person's tax liability associated with the vesting of Restricted Stock Units (RSUs).
• The shares were sold at a weighted average price of $9.2058, with individual sales prices ranging from $9.0101 to $9.3701.
• Following the transaction, Schultz directly owns 2,441,000 shares of common stock, 500,000 shares of Series A Preferred stock, and indirectly owns 480,000 shares through the S M Schultz Irrevocable Trust and 40,996 shares through his spouse.
• The total direct holdings include 246,296 RSUs vesting in twelve equal quarterly installments and 405,000 RSUs vesting on September 12, 2025, subject to continued service.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a routine transaction to cover tax obligations. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

This Form 4 filing is a routine disclosure of insider trading activity, which is common for executives who receive stock-based compensation. Investors often monitor these filings to understand management's sentiment and potential future actions.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The sale of shares to cover tax obligations is a common occurrence among executives receiving RSU grants.
• Comparable companies like Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) also see similar filings from their executives.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant long-term effect given the reason for the sale.

Key Dates

Keywords

CleanSpark, CLSK, S. Matthew Schultz, Executive Chairman, stock sale, Form 4, RSU vesting, tax liability, insider trading