Company: CLSKW
Filing Date: 2025-04-25
Form Type: 8-K
Source: 0000950170-25-058862
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Company: CLEANSPARK, INC.
Filing Date: 2025-04-25
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Compensation Adjustment for Taylor Monnig as Chief Technology Officer

Following a mid-year assessment on April 22, 2025, the Compensation Committee (the “ Committee”) of CleanSpark, Inc. (the “ Company”) approved adjustments to the compensation of Taylor Monnig, Chief Technology Officer. Mr. Monnig’s annual base salary was increased from $410,000 to $550,000, with his bonus target increased from a maximum of 100% of his base salary to a maximum of 150%. The equity grants under the 2025 Long Term Incentive Plan (the “2025 LTIP Awards”) available to Mr. Monnig were increased as shown in the table below. The values of the LTIP RSUs shown below are based on the closing stock price of $8.77 USD as of April 22, 2025.

For illustrative purposes, the following table sets forth the number of shares to be vested and the value of the 2025 LTIP Awards at each of the 50% level, the 100% level (target), and the 200% level (maximum):

                        Number of       Value of      Number of       Value of      Number of       Value of  
                                                                                                              
                          RSUs at        RSUs at        RSUs at        RSUs at        RSUs at        RSUs at  
                                                                                                              
                           50% of         50% of        100% of        100% of        200% of        200% of  
                                                                                                              
                           Target         Target         Target         Target         Target         Target  
                                                                                                              
                              (#)            ($)            (#)            ($)            (#)            (#)  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Current Amounts:        134,426      1,230,000        268,852      2,460,000        537,705      4,920,000  
  New Amounts:            180,328      1,581,477        360,656      3,162,953        721,311      6,325,897  

The Committee expects to make a determination regarding the Company’s performance relative to its performance metrics in October 2025, which will establish the maximum number