Paul B. Prager - Sep 2, 2022 Form 4 Insider Report for TERAWULF INC. (WULF)

Signature
/s/ Paul B. Prager
Stock symbol
WULF
Transactions as of
Sep 2, 2022
Transactions value $
$0
Form type
4
Date filed
9/2/2022, 05:18 PM
Previous filing
Mar 17, 2022
Next filing
Oct 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WULF Common stock, $0.001 par value per share Award +8.51M 8.51M Sep 2, 2022 By Somerset Operating Company, LLC F1, F2
holding WULF Common stock, $0.001 par value per share 655K Sep 2, 2022 By Lucky Liefern LLC F2
holding WULF Common stock, $0.001 par value per share 375K Sep 2, 2022 By Heorot Power Holdings LLC F3
holding WULF Common stock, $0.001 par value per share 30.9M Sep 2, 2022 By Stammtisch Investments LLC F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares were issued to Somerset Operating Company, LLC ("Somerset") in lieu of cash in connection with that certain Second Amendment to Lease Agreement, dated as of July 1, 2022, between Somerset and Lake Mariner Data LLC, a subsidiary of TeraWulf Inc. The Reporting Person is the sole manager of Somerset and, as a result, may be deemed to beneficially own the shares of Common Stock held by Somerset. 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 Exchange Act, or for any other purpose. Any proceeds from future sales of the shares of Common Stock are expected to be used to pay operating expenses of Somerset and its commonly-controlled affiliates.
F2 By Lucky Liefern LLC. The Reporting Person is the sole manager of Lucky Liefern LLC and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Lucky Liefern LLC. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
F3 By Heorot Power Holdings LLC. The Reporting Person is the beneficial owner and CEO Manager of Heorot Power Holdings LLC and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Heorot Power Holdings LLC. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
F4 By Stammtisch Investments LLC. The Reporting Person is the sole manager of Stammtisch Investments LLC and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Stammtisch Investments LLC. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.