Nazar M. Khan - May 17, 2024 Form 4 Insider Report for TERAWULF INC. (WULF)

Role
Chief Operating Officer + CTO, Director
Signature
/s/ Nazar M. Khan
Stock symbol
WULF
Transactions as of
May 17, 2024
Transactions value $
$0
Form type
4
Date filed
5/20/2024, 05:20 PM
Previous filing
Jan 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 +1.62M +23.07% 8.66M May 17, 2024 By Lake Harriet Holdings LLC F1, F2
transaction WULF Common stock, $0.001 par value per share Options Exercise +400K +4.26% 9.79M May 20, 2024 Direct F3, F4

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 Warrants Options Exercise -1.62M -100% 0 May 17, 2024 Common stock, $0.001 par value per share 1.62M $0.01 Lake Harriet Holdings, LLC F1, F2
transaction WULF Performance-Based Restricted Stock Units Options Exercise -400K -33.33% 800K May 20, 2024 Common stock, $0.001 par value per share 400K Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of common stock, $0.001 par value per share, of the Issuer ("Common Stock") received upon exercise of 1,622,926 warrants to purchase 1,622,926 shares of Common Stock ("Warrants"), at a price of $0.01 per share for an aggregate purchase price of $16,229.26. The Reporting Person contributed the Warrants to Lake Harriet Holdings, LLC ("Lake Harriet Holdings") on October 20, 2023.
F2 By Lake Harriet Holdings. The Reporting Person is the sole manager of Lake Harriet Holdings, LLC and, as a result, may be deemed to beneficially own the Shares held by Lake Harriet Holdings, LLC. The Reporting Person disclaims beneficial ownership of the Shares except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this report shall not be deemed an admission of beneficial ownership of all of the reported Shares for purposes of Section 16 of the Securities Exchange of 1934, as amended, or for any other purpose.
F3 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.
F4 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.
F5 Each performance stock unit represents a contingent right to receive one share of the Issuer's common stock, $0.001 par value per share.