Form 4: Terawulf CEO Paul B. Prager Reports Future Stock Contribution to Trust

Terawulf Inc. CEO and Director Paul B. Prager has filed a Form 4 disclosing a future contribution of 798,319 shares of common stock to a trust for no consideration, effective June 6, 2025.

Summary

• Paul B. Prager, the Chief Executive Officer and a Director of Terawulf Inc. (WULF), filed a Form 4 statement regarding changes in his beneficial ownership.
• The filing reports a transaction dated June 6, 2025, where 798,319 shares of Terawulf common stock (par value $0.001 per share) were contributed to the Somerset Goods and Services Trust for no consideration.
• Following this transaction, Mr. Prager's direct beneficial ownership will be 491,700 shares of common stock.
• Mr. Prager also indirectly beneficially owns 5,000,000 shares through Beowulf E&D Holdings Inc., 5,000 shares through Heorot Power Holdings LLC, and 21,100,000 shares through Riesling Power LLC.
• Mr. Prager disclaims beneficial ownership of shares held by Beowulf E&D Holdings Inc. and Heorot Power Holdings LLC, except to the extent of his pecuniary interest.
• He is deemed to have the power to direct the voting and disposition of shares held by Riesling Power LLC, as he is the sole trustee of The Paul B. Prager Revocable Trust, which is the sole member of Riesling Power LLC.

Sentiment

Score: 5

Explanation: The document is a standard Form 4 filing reporting a change in beneficial ownership due to a contribution to a trust for no consideration. This type of transaction is typically a personal financial planning matter and does not inherently indicate positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

This Form 4 filing pertains to a specific future transaction related to insider stock ownership and does not provide general forward-looking statements or guidance on the company's operational or financial performance.

Industry Context

This filing is a routine disclosure of an insider's stock ownership changes within the cryptocurrency mining industry, where Terawulf Inc. operates. It reflects a personal financial planning decision by the CEO rather than a direct operational or strategic update for the company or the industry.

Related Party Transactions

• The contribution of 798,319 shares of common stock was made to Somerset Goods and Services Trust, which is a personal trust related to the reporting person.
• Indirect beneficial ownership is reported through entities (Beowulf E&D Holdings Inc., Heorot Power Holdings LLC, Riesling Power LLC) where the reporting person serves as sole manager or trustee of the controlling entity, indicating related party relationships for ownership purposes.

Stakeholder Impact

• Shareholders: The transaction represents a change in the structure of the CEO's personal holdings rather than a market sale, thus having minimal direct impact on the public float or share price. It reflects a personal financial planning decision.

Key Dates

Keywords

Terawulf Inc., WULF, Paul B. Prager, SEC Form 4, Insider Transaction, Beneficial Ownership, Stock Contribution, CEO, Director