Form 4: Terawulf CSO Converts Preferred Stock to Common

Terawulf's Chief Strategy Officer, Kerri M. Langlais, converted 251 shares of Series A Convertible Preferred Stock into 35,629 shares of common stock.

Summary

• Kerri M. Langlais, Terawulf Inc.'s Director and Chief Strategy Officer, converted 251 shares of Series A Convertible Preferred Stock into 35,629 shares of common stock.
• The conversion occurred on December 9, 2025, at a conversion price of $10.00 per share of Preferred Stock.
• This was a mandatory conversion by the Issuer of all Series A Convertible Preferred Stock, as previously disclosed in a Form 8-K filed on November 25, 2025.
• Following the transaction, Langlais directly beneficially owns 3,572,105 shares of common stock.
• Additionally, Langlais indirectly beneficially owns 864,701 shares of common stock through the Langlais Family 2021 GST Trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it's a mandatory conversion and not a discretionary purchase, it results in an increase in common stock holdings for a key executive, which generally aligns management's interests with shareholders. However, as a previously disclosed and mandatory event, it provides no new fundamental insight into the company's performance or strategy.

Positives

• The conversion increases the direct common stock holdings of a key executive, aligning their interests further with common shareholders.

Future Outlook

NA

Industry Context

This transaction is an internal corporate finance event related to an insider's equity holdings and does not directly reflect broader industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: The conversion increases the common stock holdings of a key executive, potentially strengthening alignment between management and common shareholders' interests.

Key Dates

Keywords

Terawulf, WULF, Insider Transaction, Stock Conversion, Preferred Stock, Common Stock, SEC Form 4, Corporate Governance