CleanSpark Form 4: Garrison Disposes Shares, Reports Major RSU Awards
Rhea-AI Filing Summary
Scott E. Garrison, Executive Vice President and Chief Development Officer of CleanSpark, Inc. (CLSK), filed a Form 4 reporting insider transactions dated 09/04/2025. The filing shows a disposition of 102,879 shares of common stock. It also details existing and newly reported derivative holdings: employee stock options to buy 20,139 shares at $6 and 45,000 shares at $15.69, and multiple restricted stock unit (RSU) holdings and grants totaling reported amounts of 66,700, 24,090, 396,476, 361,000, and another 361,000 RSUs. The filing specifies vesting schedules and exercise/expiration dates for each award, including vesting dates in 2025–2028 and option expirations in 2031 and 2033. The form is signed by Mr. Garrison on 09/08/2025.
Positive
- Detailed vesting schedules provided for all RSU grants and options, improving transparency
- Large RSU grants reported on 09/04/2025 which indicate executive retention or compensation alignment
Negative
- Disposition of 102,879 common shares reduces direct insider share ownership
- Potential dilution from sizable RSU grants totaling reported hundreds of thousands of shares upon vesting
Insights
TL;DR: Insider sold 102,879 shares while receiving substantial RSU grants and holds multiple long-dated options.
The Form 4 reports a sale of 102,879 common shares and large equity compensation awards to Scott E. Garrison. The filing lists vested and unvested RSUs and two option tranches with exercise prices of $6 and $15.69 and expirations in 2033 and 2031 respectively. The large RSU grant amounts reported on 09/04/2025 increase potential future share issuance as they vest across 2025–2028, which can dilute outstanding shares when settled. The disclosed sale reduces his direct common stock holdings by the reported amount but the net economic exposure depends on the mix of remaining options and RSUs and their future vesting and exercise decisions.
TL;DR: Form 4 shows routine executive compensation activity with detailed vesting schedules and an open sale of shares.
The filing provides clear documentation of compensation structure: multiple RSU grants with staggered vesting and two option grants with standard multi-year expirations. The presence of sizable RSU grants on 09/04/2025 suggests compensation or retention action by the company; vesting schedules are explicitly described, supporting transparency. The sale of 102,879 shares is disclosed and the signature confirms timely reporting. All entries include ownership form and vesting timelines, meeting Section 16 reporting expectations.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 396,476 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 361,000 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 361,000 | $0.00 | -- |
| holding | Employee Stock Options (Right to Buy) | -- | -- | -- |
| holding | Employee Stock Options (Right to Buy) | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These Options were granted on July 7, 2023 and vest in equal monthly installments over 36 months. These Options were granted on May 14, 2021 and vested in equal monthly installments over 36 months. These RSUs vest 50% on September 30, 2025 and 50% on September 30, 2026. These RSUs vest in equal quarterly installments on December 3, 2025, February 13, 2026, May 13, 2026, August 13, 2026, December 3, 2026, February 12, 2027, May 13, 2027, August 13, 2027 and December 3, 2027. These RSUs vest in equal annual installments over three years on September 4, 2026, September 4, 2027, and September 4, 2028. These RSUs vest 25% on September 9, 2025; the remaining 75% vests in equal semiannual installments over three years on February 13, 2026, September 4, 2026, February 13, 2027, September 4, 2027, February 13, 2028, and September 4, 2028.
