Form 4: Terawulf CEO Paul B. Prager Reports Changes in Beneficial Ownership

Paul B. Prager, CEO of Terawulf Inc., reports a transaction involving the contribution of 500,000 shares of common stock to Somerset Goods and Services Trust and details of beneficial ownership through various entities.

Summary

• Paul B. Prager, the CEO of Terawulf Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's common stock.
• On January 28, 2025, Mr. Prager contributed 500,000 shares of common stock to Somerset Goods and Services Trust.
• The filing also outlines Mr. Prager's indirect ownership through several entities, including Stammtisch Investments LLC, Beowulf Electricity & Data Inc., Heorot Power Holdings LLC, Lucky Liefern LLC, and Riesling Power LLC.
• Mr. Prager disclaims beneficial ownership of shares held by these entities except to the extent of his pecuniary interest.
• After the reported transaction, Mr. Prager directly owns 1,609,200 shares of Terawulf Inc. common stock.
• He also indirectly owns shares through Stammtisch Investments LLC (1,098,883 shares), Beowulf Electricity & Data Inc. (260,513 shares), Heorot Power Holdings LLC (5,000 shares), Lucky Liefern LLC (654,706 shares), and Riesling Power LLC (21,100,000 shares).

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing. It simply reports changes in ownership and doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders, providing transparency into their transactions in company stock. This filing indicates changes in the CEO's holdings, which investors may monitor for insights into management's perspective on the company's value.

Stakeholder Impact

• Shareholders may be interested in tracking insider transactions as an indicator of management's confidence in the company.
• The filing provides transparency regarding the CEO's ownership stake.

Key Dates