Vecchiarelli Gary Anthony 4

What Happened
Gary Anthony Vecchiarelli, President and Chief Financial Officer of CleanSpark, exercised/converted a total of 71,231 derivative awards (69,625 + 1,606 shares) on Feb 13, 2026 at $0.00 (reported as code M). On Feb 18, 2026 he had 27,397 and 632 shares disposed (reported under code F for payment of exercise price or tax liability), generating $253,515 and $5,835 respectively — roughly $259,350 in proceeds. The filings also show the zero-dollar disposals on Feb 13 that reflect the conversion/exercise of the derivatives into common stock.

Key Details

• Transaction dates: exercises/conversions on 2026-02-13; share dispositions/payments on 2026-02-18.
• Prices: shares acquired on conversion at $0.00; shares disposed reported at weighted averages of $9.25 (range $9.0901–$9.4101, footnote F1) and $9.23 (range $9.2274–$9.2700, footnote F2). The reporting person can provide per-price details on request.
• Proceeds: ~ $253,515 (27,397 sh) + $5,835 (632 sh) = ~$259,350.
• Post-transaction holdings: Not specified in the excerpt provided — consult the full Form 4 for ending share totals.
• Footnotes: Vesting schedules for related RSUs are noted (see F3–F5) — some awards vest over multi-year schedules (annual, semiannual, or quarterly installments). Codes M = option/derivative exercise/conversion; F = payment of exercise price or tax withholding.
• Timeliness: Transaction date 2/13/2026; Form 4 filed 2/18/2026. Because Feb 16, 2026 was a federal holiday (Presidents’ Day), the filing appears to have been one business day late relative to the two-business-day Form 4 deadline.

Context
This appears to be a routine conversion/vesting of derivative awards (RSUs/options) followed by share dispositions to cover tax withholding or exercise-related obligations (a cashless- or sell-to-cover type event), rather than an open-market sell for investment. Such transactions are common when awards vest and do not necessarily indicate a change in the insider’s view of the company.