[Form 4] CleanSpark, Inc. Warrant Insider Trading Activity

Rhea-AI Filing Summary

Scott E. Garrison, Chief Operating Officer and Director of CleanSpark, Inc. (CLSK), filed a Form 4 reporting equity changes on August 13-14, 2025. The filing shows a deemed acquisition on 08/13/2025 of 2,677 common shares at $0 (transaction code M) and a sale on 08/14/2025 of 1,192 common shares at a weighted-average price of $9.5644. The form also reports outstanding derivative and restricted equity: employee stock options covering 20,139 and 45,000 underlying shares (exercise prices $6 and $15.69) and multiple restricted stock unit grants totaling reported awards of 66,700, 26,767, and an additional 2,677 RSU tranche with specified vesting schedules. The filer provided a footnote clarifying the weighted-average sale price range and vesting dates for RSUs.

Insights

Securities Analyst

TL;DR: Insider sold a small number of shares while sizeable vested and unvested awards remain, indicating partial liquidity without major divestment.

The reported sale of 1,192 shares at a weighted-average $9.5644 on 08/14/2025 is explicitly disclosed and represents a modest disposition relative to the number of underlying awards and options held by the reporting person. Multiple option series (20,139 and 45,000 underlying shares) and large RSU grants (66,700; 26,767; 2,677) remain outstanding with stated vesting schedules, signaling continued alignment with the company via equity compensation. The filing is routine, timely, and provides the weighted-price range for the sale per the explanatory footnote.

Corporate Governance Expert

TL;DR: Form 4 shows standard executive equity activity with disclosed vesting schedules and a limited open-market sale; governance disclosure appears compliant.

The Form 4 includes clear identification of the reporting person, roles (COO and Director), and transaction codes including a Rule 10b5-1 related designation (code M) for the 08/13/2025 acquisition of 2,677 shares at $0. Vesting schedules for RSUs are provided in the footnotes and previously reported awards are reclassified between tables for clarity. There are no governance red flags or undisclosed material items in the filing content provided.

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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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^*

Garrison Scott Eugene

(Last) (First) (Middle)

10624 S. EASTERN AVE.

SUITE A-638

(Street)

HENDERSON NV 89052

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CLEANSPARK, INC. [ CLSK ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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								101,394	D
Common Stock	08/13/2025		M		2,677	A	$0	104,071	D
Common Stock	08/14/2025		F		1,192	D	$9.5644(1)	102,879	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 Options (Right to Buy)	$6							07/07/2026	07/06/2033	Common Stock	20,139		20,139	D
Employee Stock Options (Right to Buy)	$15.69							05/01/2024	05/14/2031	Common Stock	45,000		45,000	D
Restricted Stock Unit	$0							(2)	(2)	Common Stock	66,700		66,700(3)	D
Restricted Stock Units	$0							(4)	(4)	Common Stock	26,767		26,767(3)	D
Restricted Stock Units	$0	08/13/2025		M			2,677	08/13/2025	(4)	Common Stock	2,677	$0	24,090	D

Explanation of Responses:

1. This is a weighted average of prices for all sales made on August 14, 2025 ranging from $9.3979 to $9.6601. 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 price.

2. These RSUs vest 50% on September 30, 2025 and 50% on September 30, 2026.

3. These RSUs were previously reported on Form 4, Table 1 as Common Stock with the vesting schedule provided in a footnote and are now being transferred from Table 1 to Table 2 on this Form 4 for ease of form preparation.

4. These RSUs vest in equal installments on August 13, 2025, 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.

	/s/ Scott E. Garrison	08/14/2025
	** 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).
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FAQ

Who filed this Form 4 for CleanSpark (CLSKW)?

The Form 4 was filed by Scott E. Garrison, Chief Operating Officer and Director of CleanSpark, Inc.

What shares were sold and at what price in the 08/14/2025 transaction?

The filing reports a sale of 1,192 common shares on 08/14/2025 at a weighted-average price of $9.5644 (range noted in footnote).

Did the filing report any acquisitions or vesting on 08/13/2025?

Yes. The filing shows a transaction coded M on 08/13/2025 recording 2,677 common shares acquired at $0, reflecting RSU vesting/execution under a plan.

What outstanding derivative awards does Scott Garrison hold per the filing?

The form lists employee stock options underlying 20,139 and 45,000 common shares (exercise prices $6 and $15.69) and restricted stock units of 66,700, 26,767, and 2,677 with specified vesting schedules.

Is there additional price detail available for the sale reported on 08/14/2025?

Yes. The filer states the sale price is a weighted average from sales on 08/14/2025 ranging from $9.3979 to $9.6601 and will provide per-price quantities upon request.