Sharmila Kassam - Oct 30, 2024 Form 4 Insider Report for GRIID Infrastructure Inc. (GRDI)

Role: Director
Signature: /s/ Alexander G. Fraser, Attorney-in-Fact
Stock symbol: GRDI
Transactions as of: Oct 30, 2024
Transactions value $: $0
Form type: 4
Date filed: 10/31/2024, 08:11 PM
Previous filing: May 8, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GRDI	Common Stock	Disposed to Issuer		-5K	-100%		0	Oct 30, 2024	Direct	F1
transaction	GRDI	Common Stock	Disposed to Issuer		-185K	-100%		0	Oct 30, 2024	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Sharmila Kassam is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	These shares were canceled pursuant to the closing of the merger contemplated under the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 26, 2024, by and among the Issuer, CleanSpark, Inc. ("CleanSpark") and Tron Merger Sub, Inc. and automatically converted into the right to receive fully paid and nonassessable shares of CleanSpark common stock pursuant to the terms of the Merger Agreement.
F2	Represents shares of the Issuer's common stock underlying restricted stock units ("RSUs"). Each RSU award that was outstanding immediately prior to the effective time of the merger, which terms were set forth in the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 26, 2024, by and among the Issuer, CleanSpark, Inc. ("CleanSpark") and Tron Merger Sub, Inc., immediately vested with respect to 100% of the shares of Issuer common stock subject to such award, which shares of Issuer common stock were automatically converted into the right to receive fully paid and nonassessable shares of CleanSpark common stock pursuant to the terms of the Merger Agreement.

Content

These shares were canceled pursuant to the closing of the merger contemplated under the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 26, 2024, by and among the Issuer, CleanSpark, Inc. ("CleanSpark") and Tron Merger Sub, Inc. and automatically converted into the right to receive fully paid and nonassessable shares of CleanSpark common stock pursuant to the terms of the Merger Agreement.

Represents shares of the Issuer's common stock underlying restricted stock units ("RSUs"). Each RSU award that was outstanding immediately prior to the effective time of the merger, which terms were set forth in the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 26, 2024, by and among the Issuer, CleanSpark, Inc. ("CleanSpark") and Tron Merger Sub, Inc., immediately vested with respect to 100% of the shares of Issuer common stock subject to such award, which shares of Issuer common stock were automatically converted into the right to receive fully paid and nonassessable shares of CleanSpark common stock pursuant to the terms of the Merger Agreement.