Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 115

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 115
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 2.8 years. As of September 30, 2025, the unrecognized compensation costs related to all RSUs is $103,244.During the year ended September 30, 2023, 3,880,552 RSUs, which consisted of 360,552 time-based RSUs and 60,000 performance-based RSUs (of which 40,000 market-based awards were exchanged and reflected in the table above as cancelled). Additionally, on September 29, 2023, the Compensation Committee granted 3,460,000 market-based restricted stock units to senior leadership of the Company. The market-based awards vest 33% each tranche based upon the Company's stock price reaching 200%, 300% and 400% of the stock price on the date of grant. Each tranche vested upon the target stock price being met for at least 10 of 20 consecutive trading days and the awards were not dependent on a defined service period. The total fair value of the award was approximately $13,160 and all the market-based awards were vested, expensed and issued through March 2024.The Company recognized stock-based compensation expenses related to time-based RSUs, of $41,112, $10,392 and $17,720 for the fiscal years ended 2025, 2024 and 2023, respectively.PERFORMANCE STOCK UNITSThe following table summarizes the activity for all performance stock units (“PSUs”) during the year ended September 30, 2025: 

         Number ofShares

         WeightedAverage Fair ValuePer Share

         AggregateIntrinsic Value

         Outstanding at September 30, 2024

         —

         $
         —

         $
         —

         Granted

         40,000

         $
         10.61

         Vested

         (1,540
         )
          
         $
         10.61

         Outstanding at September 30, 2025

         38,460

         $
         10.61

         $
         558

       During the year ended September 30, 2025, the Company granted 40,000 performance-based RSUs to certain employees at a grant-date fair value of $424. The PSUs vest based on the achievement of certain milestones closely tied to the employees' job responsibilities.The fair value of the market-based RSUs were determined using the Monte Carlo simulation and the inputs of market-based RSUs for each of the fiscal years in which market-based RS