Cleanspark (CLSK) President & CFO Gary Vecchiarelli Exercises, Sells Shares

What Happened

• Gary Anthony Vecchiarelli, President and Chief Financial Officer of Cleanspark (CLSK), exercised/converted a total of 398,462 derivative awards on September 4, 2026 (three separate exercises). To cover exercise cost and tax withholding, 156,795 shares were disposed (surrendered/sold) in transactions on September 4 and September 8–9, 2026, generating total proceeds of approximately $2,071,241. After the tax-withholding disposals, the reporting person netted about 241,667 shares from the conversions.
• Transaction codes: M = exercise/conversion of derivatives; F = payment of exercise price or tax liability (share surrender/sale). The tax-related disposals were executed under a Rule 10b5‑1 plan adopted May 13, 2026.

Key Details

• Dates: Exercises on 2026-09-04; tax-withholding disposals on 2026-09-04 and 2026-09-08 (sales reported across Sept 8–9 as well).
• Prices / proceeds: Withholding disposals reported at weighted-average price ranges — Sept 4 sales: $12.5601–$12.6700 (weighted average per F3); Sept 8–9 sales: $13.1901–$13.7001 (weighted average per F2). Reported cash proceeds for the three withholding disposals: $345,446; $751,386; $974,409 — total ≈ $2,071,241.
• Net shares added: 398,462 exercised − 156,795 withheld/sold = 241,667 net shares issued to the insider.
• Shares owned after transaction: not stated in this filing.
• Notable footnotes: F1 = disposals pursuant to a Rule 10b5‑1 trading plan; F4–F9 describe various vesting schedules and performance conditions for the underlying RSUs/LTIP/STPA awards (including time-based vesting and performance/price targets).
• Filing timeliness: the Form 4 was filed with accession date 2026-09-09 for a reportable event on 2026-09-04; the filing itself does not state it is late in the form.

Context

• This pattern (exercise/conversion of awards followed by share surrender/sale to cover taxes) is a common administrative/cashless-net settlement for vested RSUs or exercised options rather than a discretionary open-market sale for cash. Exercises (code M) converted derivative awards into shares; the F transactions represent shares used/sold to pay withholding tax or exercise cost.
• Several of the awards reported have time- and performance-based vesting (including price targets and operational/performance metrics tied to Cleanspark’s business) — not all reported awards are immediately vested or unconditional.