Paul B. Prager - Jan 9, 2025 Form 4 Insider Report for TERAWULF INC. (WULF)

Signature
/s/ Paul B. Prager
Stock symbol
WULF
Transactions as of
Jan 9, 2025
Transactions value $
$0
Form type
4
Date filed
1/10/2025, 08:30 PM
Previous filing
Jan 3, 2025
Next filing
Jan 29, 2025

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 Award +500K +36.08% 1.89M Jan 9, 2025 Direct F1
transaction WULF Common stock, $0.001 par value per share Disposed to Issuer -277K -14.66% 1.61M Jan 9, 2025 Direct F2
holding WULF Common stock, $0.001 par value per share 261K Jan 9, 2025 By Beowulf Electricity & Data Inc. F3
holding WULF Common stock, $0.001 par value per share 5K Jan 9, 2025 By Heorot Power Holdings LLC F4
holding WULF Common stock, $0.001 par value per share 655K Jan 9, 2025 By Lucky Liefern LLC F5
holding WULF Common stock, $0.001 par value per share 21.1M Jan 9, 2025 By Riesling Power LLC F6
holding WULF Common stock, $0.001 par value per share 1.6M Jan 9, 2025 By Stammtisch Investments 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 Restricted Stock Units Options Exercise -500K -100% 0 Jan 9, 2025 Common stock, $0.001 par value per share 500K Direct 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 restricted stock units which vested in accordance with their terms upon the first 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 restricted stock units, which vested on January 9, 2025, 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 the Issuer's common stock, par value $.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 of 1934, as amended (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 the Common Stock held by Heorot. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
F5 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 the Common Stock held by Lucky Liefern LLC. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
F6 By Riesling Power LLC ("Riesling Power"). The Paul B. Prager Revocable Trust ("Prager Revocable Trust") is the sole member of Riesling Power. The Reporting Person is the sole trustee of the Prager Revocable Trust and may be deemed to have the power to direct the voting and disposition of the Common Stock beneficially owned by the Prager Revocable Trust. Accordingly, pursuant to the regulations promulgated under Section 13(d) of the Exchange Act, Mr. Paul B. Prager may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Prager Revocable Trust .
F7 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.
F8 Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock.
F9 The restricted stock units vested upon the first anniversary of January 9, 2024, subject to the Reporting Person's continued employment or service with the Issuer through such date.