[Form 4] Clearfield, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Cheryl Beranek, Chief Executive Officer and a director of Clearfield, Inc. (CLFD), filed a Form 4 reporting multiple transactions dated 08/08/2025. The filing shows she exercised employee stock options: 17,776 options at an exercise price of $23.74 and 24,000 options at $12.43. The filing also shows dispositions of common stock: 14,425 shares and 13,696 shares sold at $32.59 per share. Table II lists the underlying shares from the exercised options as 17,776 and 24,000, and shows post-transaction derivative security counts of 32,797 and 8,797 respectively. The Form 4 was signed by Darrell Hammond by power of attorney for Ms. Beranek on 08/12/2025. The filing records the mechanics and quantities of exercises and sales but does not state motives, proceeds retained or detailed allocation of shares.

Insights

Financial Analyst

TL;DR: CEO exercised options and sold portions of stock; transactions are routine insider activity without explicit material impact in this filing.

The Form 4 documents option exercises of 17,776 (strike $23.74) and 24,000 (strike $12.43) and two dispositions of common stock of 14,425 and 13,696 shares at $32.59 on 08/08/2025. These entries update both derivative and common-stock beneficial ownership counts. The filing does not disclose gross proceeds, whether the sales were same-day sale transactions, or any change to executive compensation arrangements. Based solely on the reported quantities and prices, this appears to be routine exercise and partial sale activity rather than a corporate event that alters financial guidance or capital structure.

Corporate Governance Expert

TL;DR: The disclosure complies with Section 16 reporting format; a POA signature is present and transaction dates are clearly stated.

The Form 4 lists the reporting person as Cheryl Beranek (CEO and director) and includes transaction dates of 08/08/2025, with the form signed by a power-of-attorney on 08/12/2025. The filing itemizes exercised options and subsequent common-stock dispositions and updates post-transaction ownership figures. There are no disclosed amendments, disclaimers of the affirmative-defense plan, or other governance notes in the filing. From a disclosure perspective the form supplies the standard information required for insider transactions; it does not, however, provide contextual details about the use of proceeds or trading plan terms within this document.

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
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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)
08/08/2025

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	08/08/2025		M(1)		17,776	A	$23.74	484,125	D
Common Stock	08/08/2025		F		14,425	D	$32.59	469,700	D
Common Stock	08/08/2025		M(2)		24,000	A	$12.43	493,700	D
Common Stock	08/08/2025		F		13,696	D	$32.59	480,004	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
Employee Stock Option (Right to buy)	$23.74	08/08/2025		M		17,776		(3)	11/16/2025	Common Stock	17,776	$0	32,797	D
Employee Stock Option (Right to buy)	$12.43	08/08/2025		M		24,000		(4)	11/13/2025	Common Stock	24,000	$0	8,797	D

Explanation of Responses:

1. Exercised as options were set to expire on November 16, 2025.

2. Exercised as options were set to expire on November 13, 2025.

3. The stock option exercised vested in 1/3rd increments beginning 11/16/2021 through 11/16/2023.

4. The stock option exercised vested in 1/5th increments beginning 11/13/2020 through 11/13/2024

	Darrell Hammond by Power of Attorney for Cheryl Beranek	08/12/2025
	** 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.
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FAQ

What insider transactions did Cheryl Beranek report for Clearfield (CLFD)?

The Form 4 reports option exercises of 17,776 options at $23.74 and 24,000 options at $12.43, plus dispositions of 14,425 and 13,696 common shares at $32.59, all dated 08/08/2025.

How many shares resulted from the exercised options reported on the CLFD Form 4?

The exercised options underlying the reported derivatives are 17,776 and 24,000 common shares as shown in Table II of the filing.

At what prices were the CLFD shares sold according to the Form 4?

The two dispositions reported show sale prices of $32.59 per share for 14,425 and 13,696 shares.

When was the Form 4 signed and by whom?

The Form 4 was signed by Darrell Hammond by Power of Attorney for Cheryl Beranek on 08/12/2025.

Does the filing state the reason for the exercises or sales?

No. The Form 4 lists the transactions, quantities, prices and post-transaction ownership counts but does not state motives or use of proceeds.

What post-transaction ownership figures are shown in the filing?

The tables show updated beneficial ownership and derivative-security counts including figures such as 493,700, 480,004, 484,125, and 469,700 in the non-derivative table and derivative counts of 32,797 and 8,797 in Table II.