Garrison Scott Eugene 4

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.