CLFD · Clearfield, Inc.

The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 15, 2025.

The price in column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $40.00 to $40.25. The reporting person undertakes to provide Clearfield, Inc., any security holder of Clearfield, Inc., or the staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price set forth in the footnote.

Purchase of Common Shares through Employee Stock Purchase Plan for the period January 1 - June 30, 2026. In accordance with the ESPP, these shares were purchased based on 85% of the closing price on December 31, 2025.

Purchase of Common Shares through Employee Stock Purchase Plan for the period January 1 - June 30, 2026. In accordance with the ESPP, these shares were purchased based on 85% of the closing price on December 31, 2025.

Purchase of Common Shares through Employee Stock Purchase Plan for the period January 1 - June 30, 2026. In accordance with the ESPP, these shares were purchased based on 85% of the closing price on December 31, 2025.

Purchase of Common Shares through Employee Stock Purchase Plan for the period January 1 - June 30, 2026. In accordance with the ESPP, these shares were purchased based on 85% of the closing price on December 31, 2025.

The price in column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $39.39 to $40.64. The reporting person undertakes to provide Clearfield, Inc., any security holder of Clearfield, Inc., or the staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price set forth in the footnote.

The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 15, 2025.

The price in column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $46.31 to $47.25. The reporting person undertakes to provide Clearfield, Inc., any security holder of Clearfield, Inc., or the staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price set forth in the footnote.

The transaction reported on this form was effected to a Rule 10b5-1 trading plan adopted by the reporting person on December 15, 2025.

The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 15, 2025.

The price in column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $45.00 to $45.15. The reporting person undertakes to provide Clearfield, Inc., any security holder of Clearfield, Inc., or the staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price set forth in the footnote.

The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 15, 2025.

The price in column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $40.00 to $40.63. The reporting person undertakes to provide Clearfield, Inc., any security holder of Clearfield, Inc., or the staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price set forth in the footnote.

Payment of taxes by withholding shares on vesting of restricted stock that was granted on May 9, 2024.

Restrictions on Restricted Stock lapse the first business day prior to the 2027 Annual Meeting of Shareholders.

Restrictions on Restricted Stock lapse the first business day prior to the 2027 Annual Meeting of Shareholders.

Restrictions on Restricted Stock lapse the first business day prior to the 2027 Annual Meeting of Shareholders.

Restrictions on Restricted Stock lapse the first business day prior to the 2027 Annual Meeting of Shareholders.

Restrictions on Restricted Stock lapse the first business day prior to the 2027 Annual Meeting of Shareholders.

Restrictions on Restricted Stock lapse the first business day prior to the 2027 Annual Meeting of Shareholders.

Restrictions on Restricted Stock lapse the first business day prior to the 2027 Annual Meeting of Shareholders.

The price in column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $32.00 to $32.06. The reporting person undertakes to provide Clearfield, Inc., any security holder of Clearfield, Inc., or the staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price set forth in the footnote.

Purchase of Common Shares through Employee Stock Purchase Plan for the period July 1 - December 31, 2025. In accordance with the ESPP, these shares were purchased based on 85% of the closing price on December 31, 2025.

Purchase of Common Shares through Employee Stock Purchase Plan for the period July 1 - December 31, 2025. In accordance with the ESPP, these shares were purchased based on 85% of the closing price on December 31, 2025.

1. Purchase of Common Shares through Employee Stock Purchase Plan for the period July 1 - December 31, 2025. ln accordance with the ESPP, these shares were purchased based on 85% of the closing price on December 31, 2025.

Purchase of Common Shares through Employee Stock Purchase Plan for the period July 1 - December 31, 2025. ln accordance with the ESPP, these shares were purchased based on 85% of the closing price on December 31, 2025.

The price in column 4 is the weighted average price. The shares were purchased in multiple transactions at prices ranging from $29.85 to $30.25. The reporting person undertakes to provide Clearfield, Inc., any security holder of Clearfield, Inc., or the staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares purchased at each separate price set forth in the footnote.

The restrictions on the shares lapse on the one year anniversary of the date of the grant.

The restrictions on the shares lapse on the one year anniversary of the date of the grant.

The restricted stock vests as to one-third of the shares on November 16, 2026, November 16, 2027 and November 16, 2028 subject to the reporting person's continued employment through each such date.

The restricted stock vests as to one-third of the shares on November 16, 2026, November 16, 2027 and November 16, 2028 subject to the reporting person's continued employment through each such date.

The restricted stock vests as to one-third of the shares on November 16, 2026, November 16, 2027 and November 16, 2028 subject to the reporting person's continued employment through each such date.

Payment of taxes by withholding shares on the vesting of one-third of performance stock units.

Represents the number of shares of restricted stock issued upon the vesting of performance stock units. The restricted stock vests as to one-half of the shares on November 16, 2026 and November 16, 2027.

Represents the number of shares of common stock issued upon vesting of performance stock units.

Payment of taxes by withholding shares on the vesting of one-third of performance stock units.

Represents the number of shares of restricted stock issued upon the vesting of performance stock units. The restricted stock vests as to one-half of the shares on November 16, 2026 and November 16, 2027.

Represents the number of shares of common stock issued upon the vesting of performance stock units.

Payment of taxes by withholding shares on the vesting of one-third of performance stock units.

Represents the number of shares of common stock issued upon the vesting of performance stock units.

Represents the number of shares of restricted stock issued upon the vesting of performance stock units. The restricted stock vests as to one-half of the shares on November 16, 2026 and November 16, 2027.

Payment of taxes by withholding shares on vesting the last 33% of restricted stock that was granted on February 24, 2023.

Payment of taxes by withholding shares on vesting the last 33% of restricted stock that was granted on February 24, 2023.

Payment of taxes by withholding shares on vesting the first 33% of restricted stock that was granted on November 26, 2024.

Payment of taxes by withholding shares on vesting the second 33% of restricted stock that was granted on November 16, 2023.

Payment of taxes by withholding shares on vesting the second 33% of restricted stock that was granted on November 16, 2023.

Payment of taxes by withholding shares on vesting the second 33% of restricted stock that was granted on November 16, 2023.

Payment of taxes by withholding shares on vesting the first 33% of restricted stock that was granted on November 26, 2024

Payment of taxes by withholding shares on vesting the last 33% of restricted stock that was granted on February 24, 2023.