Form 4: Terawulf CEO Paul Prager Reports Stock Transactions Following RSU Vesting

Terawulf CEO Paul Prager reports the vesting of restricted stock units and subsequent stock transactions, including acquisitions and dispositions to cover taxes.

Summary

• On July 9, 2024, Terawulf CEO Paul Prager reported transactions related to restricted stock units (RSUs) vesting.
• 500,000 shares were acquired upon the vesting of RSUs.
• 276,500 shares were disposed of to cover taxes related to the vesting.
• Following these transactions, Prager directly owns 894,000 shares of common stock.
• Prager also indirectly owns shares through several LLCs and corporations, including Stammtisch Investments LLC (8,198,883 shares), Beowulf Electricity & Data Inc. (260,513 shares), Heorot Power Holdings LLC (5,000 shares), Lucky Liefern LLC (654,706 shares), and Somerset Operating Company, LLC (10,638 shares).
• The RSUs vested in two tranches, the first on July 9, 2024, and the remaining will vest on the second six-month anniversary of January 9, 2024, contingent upon continued employment.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment, but rather reflects standard corporate governance practices.

Future Outlook

The remaining restricted stock units will vest on the second six-month anniversary of January 9, 2024, subject to the Reporting Person's continued employment or service with the Issuer through such date.

Industry Context

Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to investors regarding their holdings and trading activities. This filing indicates routine compensation and tax-related transactions.

Stakeholder Impact

• Shareholders are informed about the CEO's stock transactions, providing transparency regarding insider activity.
• The transactions have a minor impact on the overall share structure.

Key Dates