Nazar M. Khan - Jun 27, 2024 Form 4 Insider Report for TERAWULF INC. (WULF)

Signature
/s/ Nazar M. Khan
Stock symbol
WULF
Transactions as of
Jun 27, 2024
Transactions value $
$0
Form type
4
Date filed
7/1/2024, 09:13 PM
Previous filing
Jun 24, 2024
Next 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 +400K +2.95% 14M Jun 27, 2024 Direct F1
transaction WULF Common stock, $0.001 par value per share Disposed to Issuer -221K -1.58% 13.8M Jul 1, 2024 Direct F2
holding WULF Common stock, $0.001 par value per share 7.27M Jun 27, 2024 By Lake Harriet Holdings LLC F3
holding WULF Common stock, $0.001 par value per share 4.02M Jun 27, 2024 By Various Trusts F4
holding WULF Common stock, $0.001 par value per share 902K Jun 27, 2024 By Yaqeen I Trust F5

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 -400K -100% 0 Jun 27, 2024 Common stock, $0.001 par value per share 400K Direct 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 performance stock units which vested in accordance with their terms upon the achievement of specified performance goals between the grant date and the third anniversary of January 9, 2024, as reflected in this Form 4, 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 27, 2024, as reflected in this Form 4.
F3 By Lake Harriet Holdings, LLC. The Reporting Person is the sole manager of Lake Harriet Holdings, LLC and, as a result, may be deemed to beneficially own the shares of common stock, par value $0.001 per share (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.
F4 By various trusts. The Reporting Person may be deemed to beneficially own the Shares held by such trusts. 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.
F5 By Yaqeen I Trust. The Reporting Person may be deemed to beneficially own the Shares held by Yaqeen I Trust. 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.
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 vested 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.