CleanSpark (CLSK) CAO Carson Exercises Options, Sells Shares

What Happened

• Brian Jay Carson, Chief Accounting Officer of CleanSpark (CLSK), exercised/converting derivative awards on September 4, 2026 for a total of 153,653 shares (three separate exercises: 93,612; 16,375; 43,666).
• To satisfy exercise-related tax obligations, 60,463 shares were withheld/sold (36,836; 6,444; 17,183) at weighted-average prices reported between ~$12.56–$13.70, generating aggregate proceeds of about $801,708.
• Net shares retained after withholding/sales: 93,190 shares (153,653 exercised − 60,463 withheld/sold). The exercises are coded M (exercise/conversion) and the share disposals are coded F (payment of exercise price/tax liability).

Key Details

• Transaction dates: exercises on Sept 4, 2026; tax-withholding/sales reported on Sept 4 and Sept 8, 2026. Form filed Sept 9, 2026.
• Reported per-share prices for withheld/sold shares: reported weighted averages of roughly $12.56–$12.67 (Sept 4 sales) and $13.19–$13.70 (Sept 8–9 sales); individual line prices shown at $12.61 and $13.34.
• Total exercised: 153,653 shares. Total disposed/withheld: 60,463 shares. Cash proceeds reported for the withheld/sold shares: ~$491,285 + $81,252 + $229,171 = ~$801,708.
• Notable footnotes: some sales were made pursuant to a Rule 10b5-1 trading plan (footnote F1). Footnotes also describe vesting schedules for options and RSUs and performance contingencies for LTIP awards (including an $18.80 target price condition and other performance goals tied to gross power under leases).
• Shares owned after the transactions are not provided in the excerpted data; check the full Form 4 for total holdings and timeliness details.

Context

• This appears to be an exercise of vested options/derivative awards with shares withheld or sold to cover taxes (a common, administrative “cashless” outcome), not necessarily an open-market investment or a discretionary sale for cash gain.
• M = exercise/conversion of derivatives; F = payment of exercise price or tax liability (often results in withholding/sale). A 10b5-1 plan was used for at least some disposals, which is a pre-set trading plan that can automate sales.
• These kinds of filings are factual disclosures of transactions by insiders; they do not by themselves indicate management’s view of the company’s prospects.