Form 4: Terawulf COO Nazar M. Khan Acquires and Disposes of Shares in Recent Transaction

Nazar M. Khan, COO of Terawulf Inc., reports acquiring 200,000 shares of common stock and disposing of 110,600 shares to cover taxes related to vested restricted shares.

Summary

• On October 31, 2024, Nazar M. Khan, the Chief Operating Officer and CTO of Terawulf Inc., engaged in transactions involving the company's common stock.
• Khan acquired 200,000 shares of common stock with a par value of $0.001 per share, which vested immediately but are subject to a one-year transfer restriction.
• Simultaneously, Khan disposed of 110,600 shares to cover taxes resulting from the net settlement election related to the vested restricted shares.
• Following these transactions, Khan directly owns 13,026,884 shares.
• Khan also has indirect ownership through Lake Harriet Holdings LLC (7,269,019 shares), various trusts (4,019,787 shares), and Yaqeen I Trust (901,809 shares).
• Khan disclaims beneficial ownership of shares held by Lake Harriet Holdings LLC, various trusts, and Yaqeen I Trust except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The acquisition of shares is a positive sign, but the disposal to cover taxes is a normal part of executive compensation. There is no indication of significant positive or negative sentiment.

Positives

• The acquisition of 200,000 shares, even with transfer restrictions, could be seen as a positive sign of the COO's confidence in the company.

Negatives

• The disposal of 110,600 shares, while for tax purposes, could be interpreted negatively by some investors.

Risks

• The one-year transfer restriction on the acquired shares could limit Khan's ability to sell those shares if needed.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC when company insiders trade in their company's stock; it provides transparency to the market.

Stakeholder Impact

• The transactions may have a minor impact on shareholders' perception of the company, but the overall impact is likely to be minimal.

Key Dates