Kenneth J. Deane - May 16, 2024 Form 4 Insider Report for TERAWULF INC. (WULF)

Role
Chief Acct Officer + Treasurer
Signature
/s/ Kenneth J. Deane
Stock symbol
WULF
Transactions as of
May 16, 2024
Transactions value $
$0
Form type
4
Date filed
5/20/2024, 05:16 PM
Previous filing
Mar 11, 2024
Next filing
May 24, 2024

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 Options Exercise +100K +33.61% 398K May 16, 2024 Direct F1
transaction WULF Common stock, $0.001 par value per share Disposed to Issuer -28.8K -7.23% 369K May 16, 2024 Direct F2
transaction WULF Common stock, $0.001 par value per share Options Exercise +54K +14.64% 423K May 20, 2024 Direct F3

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 Options Exercise $0 -100K -50% $0.00 100K May 16, 2024 Common stock, $0.001 par value per share 100K Direct F4, F5
transaction WULF Performance-Based Restricted Stock Units Options Exercise -54K -33.33% 108K May 20, 2024 Common stock, $0.001 par value per share 54K Direct F3, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person received restricted stock units subject to a three-year vesting schedule, vesting in three equal installments upon each of the first three anniversaries of May 16, 2022, in each case subject to the Reporting Person's continued employment or service with the Issuer through each such date.
F2 The disposition is due to withholding to cover taxes, as a result of the Reporting Person's election of net settlement with regard to the vesting of restricted stock units, which vested on May 16, 2024, as reflected in this Form 4.
F3 The Reporting Person received performance stock units which will vest in accordance with their terms upon the achievement of specified performance goals between the grant date and the third anniversary of January 9, 2024, subject to the Reporting Person's continued employment or service with the Issuer through such date.
F4 Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock, $0.001 par value per share.
F5 The restricted stock units vest in three equal installments upon each of the first three anniversaries of May 16, 2022, subject to the Reporting Person's continued employment or service with the Issuer through each such date.
F6 Each performance stock unit represents a contingent right to receive one share of the Issuer's common stock, $0.001 par value per share.
F7 The performance stock units will vest in accordance with their terms upon the achievement of specified performance goals between the grant date and the third anniversary of January 9, 2024, subject to the Reporting Person's continued employment or service with the Issuer through such date.