Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 113

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 113
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2023, no stock options were exercised.For the year ended September 30, 2023, the Company also granted 789,750 options to purchase shares of common stock to employees with a total fair value of $4,513.Fair value for stock options is determined using the Black-Scholes option model. The Black-Scholes model utilized the following inputs to value the options granted during years ended September 30, 2025, 2024 and 2023:

         For the year ended September 30,

         Fair value assumptions Options:
          
         2025
          
         2024
          
         2023

         Risk free interest rate
          
         3.56% - 4.65%
          
         3.46% - 4.82%
          
         2.65% - 4.44%

         Expected term (years)
          
         1.00 - 6.32
          
         5.77 - 6.16
          
         5.06 - 5.85

         Expected volatility
          
         121.0% - 122.9%
          
         122.1% - 176.0%
          
         157.1% - 194.9%

         Expected dividends
          
         0%
          
         0%
          
         0%

F-60

The Company recognized stock-based compensation expense related to stock options of $4,098 and $5,563 for the years ended September 30, 2025 and 2024, respectively. As of September 30, 2025, the Company expects to recognize $5,639 of stock-based compensation for the non-vested outstanding options over a weighted-average period of 1.67 years.RESTRICTED STOCK UNITSThe Company grants RSUs that contain either a) service conditions, b) performance conditions, or c) market performance conditions. RSUs containing service conditions vest monthly, quarterly or annually. RSUs containing performance conditions generally vest over 1 year, and the number of shares earned depends on the achievement of predetermined Company metrics and may also include a service condition. RSUs that contain market conditions will vest based on the terms of the agreement and generally are either 1 year or over the employee's term of employment. The Company recognizes the expense equal to the total fair value of the RSUs on the grant date.