CLSK Form 4: McNeill Disposes Common and Series A Preferred; RSUs Vest

Rhea-AI Filing Summary

Larry McNeill, a director of CleanSpark, Inc. (CLSK), reported transactions dated 08/13/2025. The filing shows a disposal of 271,702 shares of Common Stock and a disposal of 500,000 shares of Series A Preferred. On the same date, 8,532 Common Stock were acquired under a plan (listed with transaction code M) at a price of $0, reflecting issuance from restricted stock units. Table II clarifies restricted stock units underlying 17,065 and 8,532 shares, with the 17,065 RSUs vesting in two tranches: 50% on 08/13/2025 and 50% on 12/03/2025. The form is signed by Larry McNeill on 08/14/2025.

Positive

• RSU vesting disclosed with schedule, showing transparency on compensation timing
• 8,532 Common Stock acquired at $0 reflect issuance from restricted stock units, aligning director compensation with equity

Negative

• Large disposal of 271,702 Common Stock reported on 08/13/2025
• Disposal of 500,000 Series A Preferred reported, representing a significant transfer of preferred shares

Insights

Financial Analyst

TL;DR: Director reported both sizable disposals and RSU vesting, combining cashless/RWU issuance with significant share reductions.

The Form 4 discloses a substantial disposal of 271,702 common shares and 500,000 Series A preferred by director Larry McNeill, alongside receipt of 8,532 common shares from RSU vesting (transaction code M, $0 price). Such patterns—large disposals paired with RSU issuances—can reflect routine liquidity or portfolio rebalancing by an insider rather than operational news. The filing includes clear vesting schedules for RSUs, which supports transparency on compensation timing.

Corporate Governance Expert

TL;DR: Insider disclosed compensatory vesting and significant share sales; disclosure appears complete and timely.

The report appears procedurally compliant: it lists the reporting person, relationship (Director), transaction dates, and includes an explanation that certain RSUs vest 50% on 08/13/2025 and 50% on 12/03/2025. The use of transaction code M for $0 issuance indicates shares delivered under a plan. No amendment flag is present. From a governance perspective, the form provides the necessary schedule and signature for Section 16 reporting.

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

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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^*

McNeill Larry

(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)

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

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								271,702	D
Common Stock	08/13/2025		M		8,532	A	$0	280,234	D
Series A Preferred								500,000	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
Restricted Stock Units	$0							(1)	(1)	Common Stock	17,065		17,065(2)	D
Restricted Stock Units	$0	08/13/2025		M			8,532	08/13/2025	(1)	Common Stock	8,532	$0	8,533	D

Explanation of Responses:

1. These RSUs vest 50% on August 13, 2025 and 50% on December 3, 2025

2. 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.

	/s/ Larry McNeill	08/14/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

Who filed this Form 4 and what is their role at CleanSpark (CLSK)?

The Form 4 was filed by Larry McNeill, who is identified as a Director of CleanSpark, Inc.

What transactions did Larry McNeill report on 08/13/2025?

He reported a disposal of 271,702 common shares, a disposal of 500,000 Series A Preferred, and the acquisition of 8,532 common shares (RSU issuance) dated 08/13/2025.

What do the RSU entries in Table II indicate?

Table II shows RSUs underlying 17,065 and 8,532 common shares, with a note that the 17,065 RSUs vest 50% on 08/13/2025 and 50% on 12/03/2025.

Was any purchase price paid for the acquired common shares?

The shares acquired under the RSU vesting are reported at a price of $0, indicating issuance from granted restricted stock units.

When was the Form 4 signed?

The Form 4 is signed by /s/ Larry McNeill with a signature date of 08/14/2025.