Compensation amendments for S. Matthew Schultz
Company: CleanSpark
The claim, verbatim
Employment agreement amendments approved including monthly Bitcoin payments as noncash salary components, cash and equity bonus incentives based on annual gross revenues plus realized gains/losses and market capitalization milestones, one-time cash bonuses, fully vested RSU grants, and stock option grants vesting over 36 months
Source (primary)
CleanSpark 10-Q filed 2021-08-16 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “amendments to the employment agreements of the Executives were approved which provided...the addition of noncash components to the base salaries of Mr. Bradford and Mr. Schultz in the form of certain monthly payments of Bitcoin, and...additional cash and equity bonus incentives for Mr. Bradford and Mr. Schultz based on the Company achieving certain annual gross revenues plus realized gains/losses in the current fiscal year as well as certain market capitalization milestone targets for the current fiscal year. Additionally, the Executives received (i) one-time cash incentive bonuses, (ii) one-time grants of fully vested RSUs, and (iii) option grants to acquire shares of common stock that vest over 36 months”
How we checked this
Checked on September 22, 2026. The cited source supports every part of this claim.
The MD&A describes all these amendment terms as applying to Mr. Schultz.
Confirmed in the source:
- Schultz's employment amendment added noncash salary components in the form of monthly Bitcoin payments
- Schultz's amendment added cash and equity bonus incentives based on annual gross revenues plus realized gains/losses and market capitalization milestones
- Schultz received a one-time cash incentive bonus, fully vested RSUs, and stock options vesting over 36 months
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/827876/000166357721000429/clsk10q.htm) in full (197,163 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark 10-Q filed 2021-08-16
Quote: “amendments to the employment agreements of the Executives were approved which provided...the addition of noncash components to the base salaries of Mr. Bradford and Mr. Schultz in the form of certain monthly payments of Bitcoin, and...additional cash and equity bonus incentives for Mr. Bradford and Mr. Schultz based on the Company achieving certain annual gross revenues plus realized gains/losses in the current fiscal year as well as certain market capitalization milestone targets for the current fiscal year. Additionally, the Executives received (i) one-time cash incentive bonuses, (ii) one-time grants of fully vested RSUs, and (iii) option grants to acquire shares of common stock that vest over 36 months”