Patrick Fleury - May 16, 2022 Form 4 Insider Report for TERAWULF INC. (WULF)

Role: Chief Financial Officer
Signature: /s/ Stefanie Fleischmann, as attorney-in-fac For Patrick A. Fleury
Stock symbol: WULF
Transactions as of: May 16, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/18/2022, 06:52 PM
Next filing: Mar 7, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	WULF	Common stock, $0.001 par value per share						26.4K	May 16, 2022	By Teton Rough Riders Mining LLC	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	WULF	Restricted Stock Units	Award	$0	+1M		$0.00	1M	May 16, 2022	Common Stock	1M		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	By Teton Rough Riders Mining LLC. The Reporting Person is a managing member of Teton Rough Riders Mining LLC and, as a result, may be deemed to beneficially own the shares of the Issuer's common stock, $0.001 par value per share (the "Common Stock") held by Teton Rough Riders Mining LLC. The Reporting Person disclaims beneficial ownership of such shares of Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of Common Stock for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F2	Each Restricted Stock Unit represents a contingent right to receive one share of Common Stock.
F3	The Reporting Person received Restricted Stock Units subject to a three-year vesting schedule, 25% vesting upon each of the first two anniversaries of May 16, 2022 and the remaining 50% vesting upon the third anniversary of May 16, 2022, in each case, subject to the Reporting Person's continued employment or service with the Issuer through each such date.