S. Matthew Schultz - 12 Sep 2022 Form 4 Insider Report for CLEANSPARK, INC. (CLSK)

Role
Executive Chairman, Director
Signature
/s/ S. Matthew Schultz
Issuer symbol
CLSK
Transactions as of
12 Sep 2022
Net transactions value
-$665,671
Form type
4
Filing time
15 Sep 2022, 16:30:19 UTC
Previous filing
18 Feb 2022
Next filing
10 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLSK Common Stock Award $0 +360,000 +132% $0.000000 633,000 12 Sep 2022 Direct F1
transaction CLSK Common Stock Award $0 +1,215,000 +192% $0.000000 1,848,000 12 Sep 2022 Direct F2
transaction CLSK Common Stock Award $0 +360,000 +19% $0.000000 2,208,000 12 Sep 2022 Direct F3
transaction CLSK Common Stock Tax liability $665,671 -136,129 -6.2% $4.89 2,071,871 12 Sep 2022 Direct F4
holding CLSK Common Stock 480,000 12 Sep 2022 By S M Schultz Irrevocable Trust
holding CLSK Common Stock 40,996 12 Sep 2022 By Spouse
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 360,000 restricted stock units ("RSUs") awarded to the Reporting Person under the Issuer's 2017 Equity Incentive Plan, as amended (the "Plan") in connection with the Reporting Person's service as an executive officer and director of the Issuer, which RSUs vest upon the later of the date of issuance and the Issuer obtaining stockholder approval of an amendment to the Plan increasing the number of shares available under the Plan (the "Shareholder Approval").
F2 Represents 1,215,000 RSUs awarded to the Reporting Person under the Plan in connection with the Reporting Person's service as an executive officer and director of the Issuer, which RSUs vest on each anniversary of the grant date, such that the RSUs will fully vest on the third anniversary of the grant date, provided the Shareholder Approval is obtained.
F3 Represents 360,000 shares of performance stock units ("PSUs") originally awarded to the Reporting Person under the Plan, which vesting was subject to the achievement of certain corporate milestones of the Issuer. The compensation committee of the Issuer approved the immediate vesting of such PSUs on September 12, 2022.
F4 These shares were automatically withheld to cover the tax liability resulting from the vesting of the PSUs.