Form 4: Terawulf CFO Patrick Fleury Reports Stock Transactions Following Vesting of Performance Stock Units
SEC Form 4 Filing
Patrick Fleury, CFO of Terawulf Inc., reports the acquisition and disposition of common stock and performance-based restricted stock units due to vesting and tax withholding.
Summary
- On June 20, 2024, Patrick Fleury, the CFO of Terawulf Inc., engaged in transactions involving the company's common stock and performance-based restricted stock units.
- Fleury acquired 140,000 shares of common stock upon the vesting of performance stock units.
- Simultaneously, 55,090 shares were disposed of to cover taxes related to the vesting of these units.
- Following these transactions, Fleury directly owns 1,751,269 shares of Terawulf Inc.'s common stock.
- Additionally, Fleury may be deemed to beneficially own 26,414 shares held by Teton Rough Riders Mining LLC, where he serves as a managing manager, but he disclaims beneficial ownership except to the extent of his pecuniary interest.
- The performance stock units vest upon achieving specified performance goals between the grant date and the third anniversary of January 9, 2024, contingent on continued employment.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information about insider trading activity.
Future Outlook
The performance stock units will continue to vest based on the achievement of performance goals through January 9, 2024, subject to the Reporting Person's continued employment or service with the Issuer.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.
- The vesting of performance stock units incentivizes the CFO to achieve company performance goals.
Key Dates
| Date | Description |
|---|---|
| 01/09/2024 | Grant date for performance stock units, with vesting based on performance goals achieved by the third anniversary. |
| 06/20/2024 | Date of transactions: acquisition of 140,000 shares upon vesting of performance stock units and disposition of 55,090 shares for tax withholding. |
| 06/24/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.