CleanSpark EVP exercises RSUs, covers taxes with shares
CleanSpark’s EVP and Chief Development Officer exercised RSUs into common stock and delivered shares to cover exercise price or taxes under a Rule 10b5-1 plan.
Rhea-AI Filing Summary
CLEANSPARK, INC. (CLSK) executive Scott Eugene Garrison, EVP and Chief Development Officer, reported a series of equity compensation–related transactions. On September 4, 2026, he exercised Restricted Stock Units to acquire 132,158, 120,333, and 45,125 shares of common stock. To pay exercise price or tax obligations, he delivered or had withheld 20,999 shares on September 4 at a weighted average price of $12.6089 per share, and 58,863 and 53,596 shares on September 8–9 at a weighted average price of $13.3371 per share, in each case as described in the weighted-average price footnotes.
The dispositions were made pursuant to a Rule 10b5-1(c) trading plan adopted on May 13, 2026. Garrison continues to hold employee stock options with exercise prices of $6.00 and $15.69 per share, multiple blocks of unvested Restricted Stock Units, and 120,000 Performance Stock Units under a Long-Term Incentive Plan with vesting tied to stock price and data-center power performance targets.
Positive
- None.
Negative
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Insider Trade Summary 10b5-1
297,616 shares exercised/converted
Exercise
19 txns
Insider
Garrison Scott Eugene
Role
EVP, Chief Development Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock F1, F2 | 58,863 | $13.3371 | $785K |
| Exercise Price or Tax Liability | Common Stock F1, F2 | 53,596 | $13.3371 | $715K |
| Exercise | Restricted Stock Units F7 | 132,158 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F8 | 120,333 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F7 | 45,125 | $0.00 | $0.00 |
| Exercise | Common Stock | 132,158 | $0.00 | $0.00 |
| Exercise | Common Stock | 45,125 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock F1, F3 | 20,999 | $12.6089 | $265K |
| Exercise | Common Stock | 120,333 | $0.00 | $0.00 |
| holding | Employee Stock Options (Right to Buy) F4 | -- | -- | -- |
| holding | Employee Stock Options (Right to Buy) F5 | -- | -- | -- |
| holding | Restricted Stock Units F6 | -- | -- | -- |
| holding | Restricted Stock Units F7 | -- | -- | -- |
| holding | Restricted Stock Units F8 | -- | -- | -- |
| holding | Restricted Stock Units F7 | -- | -- | -- |
| holding | Restricted Stock Units F9 | -- | -- | -- |
| holding | Restricted Stock Units F10 | -- | -- | -- |
| holding | Performance Stock Units F11 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 2,404,068 contracts for 1,189,835 underlying shares (Direct);
Common Stock — 569,842 shares (Direct);
Employee Stock Options (Right to Buy) — 65,139 contracts (Direct);
Performance Stock Units — 120,000 contracts (Direct)
Footnotes (11)
- F1. This transaction was made pursuant to a Rule 10b5-1(c) plan adopted on May 13, 2026.
- F2. This is a weighted average of prices for all sales made on September 8-9, 2026 ranging from $13.1901 to $13.7001. Upon request, the Reporting Person will provide to the SEC, the Issuer, or any security holder of the Issuer full information regarding the number of shares sold at each separate date and price.
- F3. This is a weighted average of prices for all sales made on September 4, 2026, ranging from $12.5601 to $12.6700. Upon request, the Reporting Person will provide to the SEC, the Issuer, or any secutity holder of the Issuer full information regarding the number of shares sold at each separate price.
- F4. These Options were granted on July 7, 2023 and vested in equal monthly installments over 36 months.
- F5. These Options were granted on May 14, 2021 and vested in equal monthly installments over 36 months.
- F6. These RSUs will vest on September 30, 2026.
- F7. These RSUs vest in equal annual installments over three years on September 4, 2026, September 4, 2027, and September 4, 2028.
- F8. These RSUs vest in equal semiannual installments over three years on September 4, 2026, February 13, 2027, September 4, 2027, February 13, 2028, and September 4, 2028.
- F9. These RSUs vest in equal quarterly installments on December 3, 2026, February 12, 2027, May 13, 2027, August 13, 2027, and December 3, 2027.
- F10. These RSUs vest in equal annual installments over three years on March 20, 2027, March 20, 2028, and March 20, 2029, subject to the Reporting Person's continued employment or service with the Issuer through each such date.
- F11. Vesting of these Long-Term Incentive Plan ("LTIP") awards is contingent on the common stock achieving a specified target market price of at least $18.80 based on a 20-trading day average during the period ending March 20, 2027, subject to the Reporting Person remaining employed by the Issuer on the vesting date of March 20, 2029. The reported LTIP awards do not include LTIP awards in respect of a maximum of 120,000 shares of common stock for which such awards will vest in accordance with their terms upon achievement of specified performance goals tied to gross power under leases to customers for data centers, with threshold performance at 600 MW gross and maximum payout at 800 MW gross, during the period ending March 20, 2027, subject to the Reporting Person remaining employed by the Issuer on the vesting date of March 20, 2029.
Key Figures
Shares delivered/withheld Sept 4, 2026: 20,999 shares at $12.6089 per share (weighted average)
Shares delivered/withheld Sept 8–9, 2026 (1): 58,863 shares at $13.3371 per share (weighted average)
Shares delivered/withheld Sept 8–9, 2026 (2): 53,596 shares at $13.3371 per share (weighted average)
+5 more
8 metrics
Shares delivered/withheld Sept 4, 2026
20,999 shares at $12.6089 per share (weighted average)
Payment of exercise price or tax liability for common stock on September 4, 2026
Shares delivered/withheld Sept 8–9, 2026 (1)
58,863 shares at $13.3371 per share (weighted average)
Payment of exercise price or tax liability for common stock over September 8–9, 2026
Shares delivered/withheld Sept 8–9, 2026 (2)
53,596 shares at $13.3371 per share (weighted average)
Second block for payment of exercise price or tax liability over September 8–9, 2026
RSUs exercised into common stock
132,158; 120,333; 45,125 shares
Three RSU exercises into CleanSpark common stock on September 4, 2026
Employee stock options outstanding
20,139 shares at $6.00; 45,000 shares at $15.69
Directly held options expiring May 14, 2031 and July 6, 2033
Unvested Restricted Stock Units blocks
396,476; 361,000; 225,625; 160,000; 33,350; 13,384 units
Multiple direct RSU holdings with zero exercise price and various vesting schedules
Performance Stock Units (LTIP)
120,000 units at $0.00 exercise price
PSUs with vesting tied to $18.80 stock-price target and 600–800 MW performance goals
LTIP stock-price target
$18.80 per share
20-trading-day average price condition for Long-Term Incentive Plan awards
Key Terms
Rule 10b5-1(c) plan, Restricted Stock Units, Performance Stock Units, Long-Term Incentive Plan ("LTIP"), +1 more
5 terms
Rule 10b5-1(c) plan regulatory
"This transaction was made pursuant to a Rule 10b5-1(c) plan adopted"
Restricted Stock Units financial
"These RSUs vest in equal annual installments over three years"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Stock Units financial
"Performance Stock Units ... vesting of these Long-Term Incentive Plan ("LTIP") awards"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Long-Term Incentive Plan ("LTIP") financial
"Vesting of these Long-Term Incentive Plan ("LTIP") awards is contingent"
gross power under leases technical
"performance goals tied to gross power under leases to customers for data centers"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity transactions did CLSK executive Scott Eugene Garrison report?
He exercised Restricted Stock Units on September 4, 2026 to acquire blocks of common stock, then delivered or had withheld additional common shares on September 4 and September 8–9, 2026 to pay exercise price or tax obligations, all as reported on this Form 4.
Were the CLSK transactions under a Rule 10b5-1 trading plan?
Yes. A footnote states the reported transactions were made pursuant to a Rule 10b5-1(c) plan adopted on May 13, 2026, and the filing affirms use of such a plan for the reported trades.
What stock options does the CLSK executive still hold after these transactions?
He continues to hold employee stock options over 20,139 underlying shares at an exercise price of $6.00 per share expiring July 6, 2033, and options over 45,000 underlying shares at $15.69 per share expiring May 14, 2031.
What are the key terms of the CLSK Performance Stock Units reported?
The filing shows 120,000 Performance Stock Units with vesting contingent on CleanSpark’s common stock achieving a $18.80 20-trading-day average and on performance goals tied to gross power under leases between 600 MW and 800 MW by dates through March 20, 2029.
AI-generated analysis. How Rhea-AI works. Not financial advice.
