Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 134

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 8
Chunk 134
---
0
        %
       
      The Company recognized stock-based compensation expense relating to stock options of $1,078 and $1,812 for the three months ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company expects to recognize $8,883 of stock-based compensation for the non-vested outstanding options over a weighted-average period of 2.27 years.RESTRICTED STOCK UNITSThe following table summarizes the activity for all restricted stock units (“RSUs”) during the three months ended December 31, 2024: 

        Number ofShares

        WeightedAverage Fair ValuePer Share

        AggregateIntrinsic Value

        Outstanding at September 30, 2024

        1,674,211

        $
        7.56

        $
        12,649

        Granted

        148,715

        $
        8.78

        Vested

        -

        -

        Outstanding at December 31, 2024

        1,822,926

        $
        7.65

        $
        16,789

      On October 1, 2024, the Company granted 136,520 time-based RSUs to its board members as part of their annual compensation. These RSUs vest 25% quarterly and have a combined grant-date fair value of $1,200. The 25% quarterly vesting will occur on February 13, 2025, May 13, 2025, August 13, 2025 and December 3, 2025. As of December 31, 2024, the Company had 1,822,926 outstanding unvested time-based restricted stock awards, which will vest over the weighted average 2.0 years. As of December 31, 2024, the unrecognized compensation costs related to all RSU awards is 11,603. The Company recognized stock-based compensation expense relating to restricted stock units of $1,943 and $8,141 for the three months ended December 31, 2024 and 2023, respectively. 2025 Long-Term Incentive Plan On October 1, 2024, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) approved the establishment of the Company’s Long-Term Incentive Program (the “2025 LTIP”), which permits the issuance of RSUs to executive officers