Clearfield (CLFD) CEO reports tax-withholding of CLFD shares

Clearfield, Inc. (CLFD) reported insider equity activity by its Chief Executive Officer and Director, Cheryl Beranek, in a Form 4.

Rhea-AI Filing Summary

Clearfield, Inc. (CLFD) reported insider equity activity by its Chief Executive Officer and Director, Cheryl Beranek, in a Form 4. On 11/16/2025, the reporting person had shares of Clearfield common stock withheld to cover tax obligations upon the vesting of previously granted restricted stock awards. Three tax-withholding transactions were reported, each coded as an "F" transaction: 1,020, 1,948, and 2,318 shares of common stock, all at a price of $30.72 per share.

After these tax-related withholdings, the reporting person directly beneficially owned 474,718 shares of Clearfield common stock. The explanations clarify that each transaction related to the vesting of 33% installments of restricted stock granted on February 24, 2023, November 16, 2023, and November 26, 2024, respectively. These are routine equity compensation and tax-settlement events for a senior executive.

Insider Trade Summary

Exercise Price or Tax Liability: 5,286 shares

Exercise Price or Tax Liability 3 txns

Insider Beranek Cheryl

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	1,020	$30.72	$31K
Exercise Price or Tax Liability	Common Stock	1,948	$30.72	$60K
Exercise Price or Tax Liability	Common Stock	2,318	$30.72	$71K

Holdings After Transaction: Common Stock — 474,718 shares (Direct)

Footnotes (3)

1. F1. Payment of taxes by withholding shares on vesting the last 33% of restricted stock that was granted on February 24, 2023.
2. F2. Payment of taxes by withholding shares on vesting the second 33% of restricted stock that was granted on November 16, 2023.
3. F3. Payment of taxes by withholding shares on vesting the first 33% of restricted stock that was granted on November 26, 2024

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Accepted by SEC EDGAR 11/19/2025 - 02:09 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Beranek Cheryl

(Last) (First) (Middle)

7050 WINNETKA AVE. N.

SUITE 100

(Street)

BROOKLYN PARK MN 55428

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Clearfield, Inc. [ CLFD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/16/2025		F(1)		1,020	D	$30.72	478,984	D
Common Stock	11/16/2025		F(2)		1,948	D	$30.72	477,036	D
Common Stock	11/16/2025		F(3)		2,318	D	$30.72	474,718	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Payment of taxes by withholding shares on vesting the last 33% of restricted stock that was granted on February 24, 2023.

2. Payment of taxes by withholding shares on vesting the second 33% of restricted stock that was granted on November 16, 2023.

3. Payment of taxes by withholding shares on vesting the first 33% of restricted stock that was granted on November 26, 2024

	Darrell Hammond by Power of Attorney for Cheryl Beranek	11/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.