Form 4: Terawulf CFO Patrick Fleury Reports Stock Transactions Following Vesting

Terawulf's Chief Financial Officer, Patrick Fleury, acquired and disposed of shares due to vesting and tax obligations.

Summary

• Patrick Fleury, the Chief Financial Officer of Terawulf Inc., reported transactions involving the company's common stock.
• On January 2, 2025, Mr. Fleury received 1,000,000 restricted shares that vested immediately but are subject to a one-year transfer restriction.
• He also disposed of 379,763 shares to cover tax obligations related to the vesting of the restricted stock.
• Following these transactions, Mr. Fleury directly owns 3,390,426 shares of Terawulf common stock.
• Additionally, he may be deemed to beneficially own 26,414 shares held by Teton Rough Riders Mining LLC, where he is a managing member.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of stock transactions by a company insider. It doesn't indicate any positive or negative sentiment, but it is a normal part of corporate governance and compensation practices.

Industry Context

This is a standard SEC Form 4 filing, which is a routine disclosure for company insiders when they have transactions in their company's stock. It is a common practice for executives to receive stock as part of their compensation and to sell some of those shares to cover taxes when they vest.

Comparison to Industry Standards

• The vesting and subsequent sale of shares to cover taxes is a common practice among publicly traded companies.
• Many companies use restricted stock units as part of executive compensation packages, which vest over time or upon achieving certain milestones.
• The tax withholding process is also standard, where a portion of the vested shares are sold to cover the income tax liability associated with the vesting.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect the standard compensation practices for executives.
• The sale of shares to cover taxes may slightly increase the number of shares available in the market.

Key Dates

Keywords

Terawulf, WULF, Patrick Fleury, CFO, stock transaction, restricted shares, vesting, tax withholding, beneficial ownership, Teton Rough Riders Mining LLC