Hut 8 (HUT) CFO Glennan Exercises RSUs, Sells Shares

What Happened

• Glennan Sean Joseph, Chief Financial Officer of Hut 8 Corp. (HUT), had 12,355 restricted stock units (RSUs) vest and convert into 12,355 shares on Aug 21, 2026 (recorded as an exercise/conversion at $0.00). Following the vesting, he sold 6,445 shares in open-market transactions on Aug 24, 2026 for a combined proceeds of approximately $507,624 (5,807 shares at $78.70 = $457,011; 638 shares at $79.33 = $50,613). The sales were made to cover tax-withholding obligations.

Key Details

• Transaction dates and prices:
  • Aug 21, 2026: RSUs vested/converted into 12,355 shares (recorded at $0.00 acquisition — RSUs convert one-for-one).
  • Aug 24, 2026: Sold 5,807 shares at a weighted avg ~$78.70 ($457,011) and 638 shares at ~$79.33 ($50,613). Weighted-average pricing reported (filing offers breakdown upon request).
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes:
  • F1/F4/F5: These were RSUs that convert one-for-one to common stock; RSUs vest in three equal annual installments beginning Aug 21, 2025 and may be settled in stock or cash at issuer’s discretion.
  • F2: The Aug 24 sales were effected pursuant to a Rule 10b5-1 plan to cover tax withholding tied to the RSU vesting.
  • F3: The reported price is a weighted average; the filer can provide per-price breakdown on request.
• Filing timeliness: Report filed Aug 25, 2026 for transactions with report period Aug 21, 2026 (no late-filing indication in the filing).

Context

• These transactions show RSU vesting and routine sales to satisfy tax withholding rather than an outright discretionary sell for investment reasons. The RSUs settled into shares (a derivative conversion), and a portion of those shares were sold under a pre-established 10b5-1 plan to cover taxes — a common, administrative transaction following equity award vesting.