CLSK Form 4: CEO Zachary Bradford Receives 1.73M RSUs; Options Disclosed
Rhea-AI Filing Summary
Bradford Zachary, who is listed as a Director and as CEO and President of CleanSpark, Inc., reported transactions dated 08/10/2025. The filing shows an acquisition of 1,728,688 restricted stock units (RSUs), with 50% vesting immediately and the remaining 50% vesting in equal installments on August 10, 2026 and August 10, 2027, subject to continued compliance with a Separation and General Release Agreement dated August 10, 2025 that was previously disclosed on a Current Report filed August 11, 2025.
The report also discloses an aggregate beneficial ownership figure that includes 864,344 RSUs with the same vesting schedule, 323,864 shares held indirectly through ZRB Holdings Inc. (of which the reporting person is sole shareholder), and a separate holding of 500,000 employee stock options with a $23 exercise price that are shown as covering 500,000 shares and are exercisable beginning 04/15/2026.
Positive
- 1,728,688 RSU grant reported, with 50% vesting immediately
- 500,000 employee stock options disclosed at a $23 exercise price, exercisable beginning 04/15/2026
- Indirect ownership disclosure through ZRB Holdings Inc. (reporting person is sole shareholder), showing 323,864 shares
Negative
- Separation and General Release Agreement dated August 10, 2025 is referenced as a condition for RSU vesting
- Series A Preferred: 500,000 is listed as disposed (marked D) on the Form 4
Insights
TL;DR Significant equity awards and outstanding options materially change insider holdings but appear tied to a separation agreement.
The filing documents a large RSU grant of 1,728,688 units with 50% immediate vesting and the balance vesting in two annual installments, plus 500,000 options at a $23 exercise price exercisable 04/15/2026. These grants and reported beneficial ownership totals (including 4,777,481 total common share equivalence shown) meaningfully increase insider-aligned equity exposure. The RSU vesting is explicitly conditioned on compliance with a Separation and General Release Agreement dated 08/10/2025, which was disclosed separately. From a financial perspective, the awards are dilutive over time but align the reporting person with equity outcomes while vesting conditions remain in effect.
TL;DR Large grants and a referenced separation agreement raise governance questions that shareholders should note in public disclosures.
The Form 4 reveals substantial equity compensation and a direct reference to a Separation and General Release Agreement between the company and the reporting person dated 08/10/2025. The filing makes clear the reporting person is both an officer (CEO and President) and a director and that some holdings are indirect via ZRB Holdings Inc. Material items for governance review include the vesting conditions tied to the separation agreement, the immediate 50% vesting on a large RSU grant, and the existence of 500,000 options exercisable in 2026. These elements are disclosure items that bear watching in related Current Reports and proxy materials for context and approvals.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,728,688 | $0.00 | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Series A Preferred | -- | -- | -- |
Footnotes (1)
- This amount represents 1,728,688 RSUs, 50% of which vested immediately upon grant, and the remaining 50% of which shall vest in equal installments on August 10, 2026 and August 10,2027, subject to the Reporting Person's ongoing compliance through each vesting date with the Separation and General Release Agreement between the Company and the Reporting Person dated August 10, 2025, which was previously disclosed on the Company's Current Report on Form 8-K filed with the SEC on August 11, 2025. This total amount includes 864,344 RSUs, 50% of which will vest on August 10, 2026, and the remaining 50% will vest on August 10, 2027, subject to the Reporting Person's ongoing compliance through each vesting date with the Separation and General Release Agreement between the Company and the Reporting Person dated August 10, 2025, which was previously disclosed on the Company's Current Report on Form 8-K filed with the SEC on August 11, 2025. The Reporting Person is the sole shareholder of ZRB Holdings Inc.
