Schultz S. Matthew 4
4 · CLEANSPARK, INC. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
CleanSpark (CLSK) CEO Matthew Schultz Receives Equity Awards
What Happened
Matthew S. Schultz, CEO, Chairman and a director of CleanSpark, reported receiving multiple derivative equity awards on March 20, 2026. The filing shows: 640,000 (derivative) units, 480,000 (derivative) units, and 1,816,000 (derivative) units — a total of 2,936,000 shares reported at $0.00 (no cash paid). These are awards/options/RSUs rather than open-market purchases or sales; many awards have vesting schedules and performance conditions rather than immediate unrestricted shares.
Key Details
- Transaction date: March 20, 2026; Form 4 filed March 24, 2026 (timely within the Form 4 two-business-day rule).
- Reported items: 640,000; 480,000; and 1,816,000 derivative awards (total 2,936,000). All reported at $0.00 (awards/derivatives).
- Shares owned after transaction: Not specified in the information provided in this summary.
- Notable footnotes (summary):
- F1: 640,000 are options originally granted April 16, 2021 with monthly vesting over 36 months.
- F2–F5: Various RSU grants with annual, semiannual or quarterly vesting schedules through 2028–2029.
- F6–F7: LTIP/STPA awards are performance-contingent — including stock-price targets (measured by 20-day averages) and operational/performance targets tied to power under leases or RFS (threshold and maximum levels), with vesting dependent on remaining employed through the applicable vesting dates (up to Sept 30, 2030 for some awards).
- Filing timeliness: Filed March 24, 2026 for a March 20, 2026 report date — appears timely.
Context
These filings report derivative compensation awards (options, RSUs, LTIP/STPA), not open-market buys or sales. Because many awards are subject to time-based vesting and performance conditions, they do not represent immediate share ownership or a direct cash investment by the insider. For retail investors, awards tied to company performance metrics (stock-price hurdles or operational milestones) signal management incentives but are not direct evidence of insider buying or selling intent.
Insider Transaction Report
- Award
Restricted Stock Units
[F5]2026-03-20+640,000→ 640,000 totalExercise: $0.00→ Common Stock (640,000 underlying) - Award
Performance Stock Units
[F6]2026-03-20+480,000→ 480,000 totalExercise: $0.00→ Common Stock (480,000 underlying) - Award
Performance Stock Units
[F7]2026-03-20+1,816,000→ 1,816,000 totalExercise: $0.00→ Common Stock (1,816,000 underlying)
- 2,455,145
Common Stock
- 480,000(indirect: By Trust)
Common Stock
- 40,996(indirect: By Spouse)
Common Stock
- 500,000
Series A Preferred
- 400,000
Employee Stock Options (Right to Buy)
[F1]Exercise: $23.00Exp: 2031-04-16→ Common Stock (400,000 underlying) - 627,753
Restricted Stock Units
[F2]Exercise: $0.00→ Common Stock (627,753 underlying) - 1,080,625
Restricted Stock Units
[F3]Exercise: $0.00→ Common Stock (1,080,625 underlying) - 1,729,000
Restricted Stock Units
[F2]Exercise: $0.00→ Common Stock (1,729,000 underlying) - 143,673
Restricted Stock Units
[F4]Exercise: $0.00→ Common Stock (143,673 underlying)
Footnotes (7)
- [F1]These Options were granted on April 16, 2021 and vested in equal monthly installments over 36 months.
- [F2]These RSUs vest in equal annual installments over three years on September 4, 2026, September 4, 2027, and September 4, 2028.
- [F3]These RSUs vest in equal semiannual installments over three years on February 13, 2026, September 4, 2026, February 13, 2027, September 4, 2027, February 13, 2028, and September 4, 2028.
- [F4]These RSUs vest in equal quarterly installments on February 13, 2026, May 13, 2026, August 13, 2026, December 3, 2026, February 12, 2027, May 13, 2027, August 13, 2027, and December 3, 2027.
- [F5]These RSUs vest in equal annual installments over three years on March 20, 2027, March 20, 2028, and March 20, 2029, subject to the Reporting Person's continued employment or service with the Issuer through each such date.
- [F6]Vesting of these Long-Term Incentive Plan ("LTIP") awards is contingent on the common stock achieving a specified target market price of at least $18.80 based on a 20-trading day average during the period ending March 20, 2027, subject to the Reporting Person remaining employed by the Issuer on the vesting date of March 20, 2029. The reported LTIP awards do not include LTIP awards in respect of a maximum of 480,000 shares of common stock for which such awards will vest in accordance with their terms upon achievement of specified performance goals tied to gross power under leases to customers for data centers, with threshold performance at 600 MW gross and maximum payout at 800 MW gross, during the period ending March 20, 2027, subject to the Reporting Person remaining employed by the Issuer on the vesting date of March 20, 2029.
- [F7]The number of shares under these Strategic Transformation Performance Awards ("STPA") represents the maximum number of common shares for which the STPAs will vest upon the Issuer's common stock achieving target market prices, based on a 20-trading day average, with threshold performance at $47 per share and maximum payout at $94 per share, before September 30, 2030, subject to the Reporting Person remaining employed by the Issuer on September 30, 2030. The reported STPA awards do not include 1,816,000 shares of common stock that vest upon achievement of performance goals tied to power under leases to customers for data centers that are operationally ready to host IT equipment and deliver services (RFS), with threshold performance at 1.0 GW and maximum payout at 2.5 GW, before September 30, 2030, subject to the Reporting Person remaining employed by the Issuer on September 30, 2030.