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CLEANSPARK, INC.·4

Feb 18, 9:02 PM ET

Schultz S. Matthew 4

Research Summary

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Updated

Cleanspark (CLSK) CEO S. Matthew Schultz Exercises Options and Sells Shares

What Happened
S. Matthew Schultz, CEO, Chairman and a director of Cleanspark (CLSK), exercised/converted derivatives on Feb 13, 2026 to acquire 236,650 shares (20,525 and 216,125 shares reported at $0.00). On Feb 18, 2026 he disposed of 104,126 of those shares (95,095 and 9,031 shares) to satisfy tax withholding obligations, generating aggregate proceeds of approximately $963,337 (weighted average sale prices reported as $9.25 and $9.23). The $0.00 acquisition price indicates conversion/vesting or a net/cashless exercise mechanism; the sales (code F) were to cover tax liabilities rather than open-market investment purchases.

Key Details

  • Transaction dates: conversions/exercises on 2026-02-13; shares sold/withheld for taxes on 2026-02-18.
  • Acquired (via exercise/conversion): 236,650 shares at $0.00.
  • Disposed (tax withholding): 95,095 shares at weighted avg ~$9.25 (range $9.0901–$9.4101) and 9,031 shares at weighted avg ~$9.23 (range $9.2274–$9.2700). Total reported proceeds ≈ $963,337. The filer will provide per-price sale quantities upon request (see footnotes).
  • Net change: +132,524 shares retained after the withholding (236,650 acquired − 104,126 withheld).
  • Footnotes: F3–F6 describe original option/RSU grant and vesting schedules (some awards vested/converted on Feb 13, 2026). Code breakdown: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (withholding sale).
  • Filing timing: Report filed 2026-02-18 for transactions on 2026-02-13 — filed after the transaction date (appears to be one business day late given the Feb 16 holiday).

Context
This appears to be a routine exercise/vesting event where an insider converted options/RSUs into stock and sold a portion to cover tax obligations (a common practice and not necessarily a directional bet on the company). The filings show a net increase in Schultz’s holdings of ~132,524 shares. As always, these transactions are factual disclosures and do not by themselves indicate the insider’s future view of the company.