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CLEANSPARK, INC.·4

May 14, 9:50 PM ET

Garrison Scott Eugene 4

4 · CLEANSPARK, INC. · Filed May 14, 2026

Research Summary

AI-generated summary of this filing

Updated

CLEANSPARK (CLSK) EVP Garrison Exercises Options, Sells 1,192 Shares

What Happened

  • Garrison Scott Eugene, EVP & Chief Development Officer of CleanSpark (CLSK), exercised/converted 2,677 option-derived shares on May 13, 2026 (code M). He subsequently had 1,192 shares disposed on May 14, 2026 to satisfy tax withholding (code F), producing total proceeds of $16,665 (weighted average sale price ~$13.98).
  • Net effect (based on the reported numbers) is that 2,677 shares were acquired through exercise and 1,192 were withheld/sold for taxes, leaving roughly 1,485 shares retained from this exercise (the Form 4 does not state total post-transaction holdings explicitly).

Key Details

  • Transaction dates: exercise on 2026-05-13; tax-withholding sale on 2026-05-14.
  • Sale price for the withheld shares: weighted average $13.97–$13.985 per share (F1); proceeds reported $16,665.
  • Transaction codes: M = option exercise/conversion; F = payment of exercise price or tax liability (withholding).
  • Relevant grants/vesting: the options exercised were from grants that vested monthly over 36 months (grants dated July 7, 2023 and May 14, 2021) (F2, F3).
  • Filing: Form 4 filed 2026-05-14 for a 2026-05-13 transaction — appears timely (not reported late).

Context

  • This appears to be a routine option exercise with shares withheld/sold to cover tax obligations (a common cashless exercise/withholding practice), not an open-market sale intended as a full disposition.
  • Footnote F1 notes the reported price is a weighted average of multiple sales; the filer can provide a breakdown by price on request. The filing is factual and does not state the insider’s motive.

Insider Transaction Report

Form 4
Period: 2026-05-13
CLEANSPARK, INC.CLSK
Garrison Scott Eugene
EVP, Chief Development Officer
Transactions
  • Exercise/Conversion

    Common Stock

    2026-05-13+2,677→ 202,100 total
  • Tax Payment

    Common Stock

    [F1]
    2026-05-14$13.98/sh−1,192$16,665→ 200,908 total
  • Exercise/Conversion

    Restricted Stock Units

    [F7]
    2026-05-13−2,677→ 16,060 total
    Exercise: $0.00From: 2026-05-13→ Common Stock (2,677 underlying)
Holdings

  • Common Stock

    199,423

  • Employee Stock Options (Right to Buy)

    [F2]
    Exercise: $6.00Exp: 2033-07-06→ Common Stock (20,139 underlying)
    20,139

  • Employee Stock Options (Right to Buy)

    [F3]
    Exercise: $15.69Exp: 2031-05-14→ Common Stock (45,000 underlying)
    45,000

  • Restricted Stock Units

    [F4]
    Exercise: $0.00→ Common Stock (33,350 underlying)
    33,350

  • Restricted Stock Units

    [F5]
    Exercise: $0.00→ Common Stock (396,476 underlying)
    396,476

  • Restricted Stock Units

    [F6]
    Exercise: $0.00→ Common Stock (225,625 underlying)
    225,625

  • Restricted Stock Units

    [F5]
    Exercise: $0.00→ Common Stock (361,000 underlying)
    361,000

  • Restricted Stock Units

    [F7]
    Exercise: $0.00→ Common Stock (18,737 underlying)
    18,737

  • Restricted Stock Units

    [F8]
    Exercise: $0.00→ Common Stock (160,000 underlying)
    160,000

  • Performance Stock Units

    [F9]
    Exercise: $0.00→ Common Stock (120,000 underlying)
    120,000
Footnotes (9)
  • [F1]This is a weighted average of prices for all sales made on May 14, 2026 ranging from $13.9700 to $13.9850. Upon request, the Reporting Person will provide to the SEC, the Issuer, or any security holder of the Issuer full information regarding the number of shares sold at each separate price.
  • [F2]These Options were granted on July 7, 2023 and vest in equal monthly installments over 36 months.
  • [F3]These Options were granted on May 14, 2021 and vested in equal monthly installments over 36 months.
  • [F4]These RSUs will vest on September 30, 2026.
  • [F5]These RSUs vest in equal annual installments over three years on September 4, 2026, September 4, 2027, and September 4, 2028.
  • [F6]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.
  • [F7]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.
  • [F8]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.
  • [F9]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 120,000 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.
Signature
/s/ Scott E. Garrison|2026-05-14

Documents

1 file
  • 4
    ownership.xmlPrimary

    4