Kenneth J. Deane - Jul 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: Jul 16, 2024
Transactions value $: $0
Form type: 4
Date filed: 7/18/2024, 06:01 PM
Previous filing: Jul 11, 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		+80K	+18.15%		521K	Jul 16, 2024	Direct	F1
transaction	WULF	Common stock, $0.001 par value per share	Disposed to Issuer		-35K	-6.72%		486K	Jul 16, 2024	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-Based Restricted Stock Units	Options Exercise	$0	-80K	-100%	$0.00^*	0	Jul 16, 2024	Common stock, $0.001 par value per share	80K		Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	The performance stock units vested 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.
F2	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.
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.