Company: CLSKW
Filing Date: 2025-11-25
Form Type: 10-K
Source: 0001193125-25-297510
Chunk: 111

Company: CLEANSPARK, INC.
Filing Date: 2025-11-25
Form: 10-K
Item: Item 6
Chunk 111
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 the outstanding warrants do not have expiration dates and have an intrinsic value of $82.During the fiscal year ended September 30, 2024, there were 65,000 warrants exercised on a cash-less basis, with 42,777 net shares issued.17. STOCK-BASED COMPENSATIONThe Company sponsors a stock-based incentive compensation plan known as the 2017 Incentive Plan, as amended, (the “Plan”), with an evergreen provision that allows for the increase of the maximum number of shares of common stock available under the Plan to fifteen percent (15%) of the Company's outstanding shares of common stock.As of September 30, 2025, prior to giving any effect to the evergreen provision that allows for the increase of shares on October 1, 2025, there were 11,482,312 shares available and authorized for issuance under the Plan. Although the Board is authorized to increase the number of shares in the Plan up to 15% of the Company’s outstanding common shares, as of September 30, 2025 it has not authorized any increased in Plan shares since the Company filed its latest Registration Form on Form S-8 on May 8, 2025.The Company granted 5,813, 174 and 24,482 non-qualified options pursuant to the Plan during the fiscal years ended September 30, 2025, 2024 and 2023, respectively.The Company recognized $45,335, $29,555 and $24,142 for the fiscal years ended September 30, 2025, 2024 and 2023, respectively, in stock-based compensation.

F-59

STOCK OPTIONSThe following is a summary of stock option activity during the fiscal years ended September 30, 2025, 2024 and 2023: 

         Number ofOption Shares

         Weighted AverageExercise Price ($)

         Balance, September 30, 2022

         1,418,938

         $
         19.11

         Options granted

         789,750

         $
         5.72

         Options expired

         (44,600
         )
          
         $
         6.05

         Options forfeited

         (193,630
         )
          
         $
         10.77

         Options exercised

         -

         $
         -

         Balance, September 30, 2023

         1,970,458

         $