Kenneth J. Deane - Jun 29, 2023 Form 4 Insider Report for TERAWULF INC. (WULF)

Role: Chief Accounting Officer
Signature: /s/ Kenneth J. Deane
Stock symbol: WULF
Transactions as of: Jun 29, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/17/2023, 05:41 PM
Previous filing: Jun 9, 2023
Next filing: Sep 6, 2023

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	Disposed to Issuer		-23.1K	-15.41%		127K	Jun 29, 2023	Direct	F1
transaction	WULF	Common stock, $0.001 par value per share	Options Exercise		+80K	+63.05%		207K	Aug 15, 2023	Direct	F2

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	Performance Stock Units	Options Exercise	$0	-80K	-50%	$0.00	80K	Aug 15, 2023	Common Stock	80K		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	The disposition is due to withholding to cover taxes, as a result of the Reporting Person's election of net settlement of performance stock units, which vest in accordance with their terms upon the achievement of specified performance goals between the grant date and the third anniversary of March 4, 2023, subject to the Reporting Person's continued employment or service with the Issuer through each such date. Each performance stock unit represents a contingent right to receive one share of the Issuer's common stock, $0.001 par value per share.
F2	The performance stock units vest in accordance with their terms upon the achievement of specified performance goals between the grant date and the third anniversary of March 4, 2023, subject to the Reporting Person's continued employment or service with the Issuer through such date.
F3	Each performance stock unit represents a contingent right to receive one share of the Issuer's common stock, $0.001 par value per share.