Paul B. Prager - Jun 20, 2024 Form 4 Insider Report for TERAWULF INC. (WULF)

Signature
/s/ Paul B. Prager
Stock symbol
WULF
Transactions as of
Jun 20, 2024
Transactions value $
$0
Form type
4
Date filed
6/24/2024, 08:10 PM
Previous filing
Jun 18, 2024
Next filing
Jul 1, 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 +500K +223.71% 724K Jun 20, 2024 Direct F1
transaction WULF Common stock, $0.001 par value per share Disposed to Issuer -277K -38.22% 447K Jun 20, 2024 Direct F2
holding WULF Common stock, $0.001 par value per share 261K Jun 20, 2024 By Beowulf Electricity & Data Inc. F3
holding WULF Common stock, $0.001 par value per share 5K Jun 20, 2024 By Heorot Power Holdings LLC F4
holding WULF Common stock, $0.001 par value per share 10.6K Jun 20, 2024 By Somerset Operating Company, LLC F5
holding WULF Common stock, $0.001 par value per share 10.2M Jun 20, 2024 By Stammtisch Investments LLC F6
holding WULF Common stock, $0.001 par value per share 655K Jun 20, 2024 By Lucky Liefern LLC F7

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 -500K -50% 500K Jun 20, 2024 Common stock, $0.001 par value per share 500K Direct F1, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
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 performance stock units, which vested on June 20, 2024, as reflected in this Form 4.
F3 By Beowulf Electricity & Data Inc. ("Beowulf E&D") The Reporting Person is the sole shareholder of Beowulf E&D and, as a result, may be deemed to beneficially own the shares of common stock, par value $0.001 per share ("Common Stock"), held by Beowulf E&D. 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.
F4 By Heorot Power Holdings LLC ("Heorot"). The Reporting Person is the sole manager of Heorot and, as a result, may be deemed to beneficially own the shares of Common Stock held by Heorot. 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.
F5 By Somerset Operating Company, LLC ("Somerset"). 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.
F6 By Stammtisch Investments LLC ("Stammtisch"). The Reporting Person is the sole manager of Stammtisch and, as a result, may be deemed to beneficially own the shares of Common Stock held by Stammtisch. 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.
F7 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 Common Stock held by Lucky Liefern 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 Exchange Act, or for any other purpose.
F8 Each performance stock unit represents a contingent right to receive one share of the Issuer's Common Stock.
F9 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.