TeraWulf CEO Transfers 1M Shares to Trust, Maintains Large Ownership Position
TeraWulf CEO and Director Paul B. Prager reported significant insider transactions and holdings on June 18, 2025.
Rhea-AI Filing Summary
TeraWulf CEO and Director Paul B. Prager reported significant insider transactions and holdings on June 18, 2025. The key transaction involved the contribution of 1,000,000 shares of common stock to Somerset Goods and Services Trust for no consideration.
Prager's total beneficial ownership includes:
- 491,700 shares held directly
- 3,000,000 shares through Beowulf E&D Holdings
- 5,000 shares through Heorot Power Holdings
- 21,100,000 shares through Riesling Power LLC (controlled via the Paul B. Prager Revocable Trust)
As sole manager of various entities and trustee of the Prager Revocable Trust, Prager maintains significant control over TeraWulf's voting shares while disclaiming beneficial ownership except for his pecuniary interests. This complex ownership structure demonstrates substantial insider control of the company's shares.
Positive
- None.
Negative
- CEO Paul Prager transferred 1,000,000 shares (approximately $3.5M worth) to Somerset Goods and Services Trust, reducing his direct ownership position
Insider Trade Summary
Other: 1,000,000 shares
Other
4 txns
Insider
Prager Paul B.
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common stock, $0.001 par value per share | 1,000,000 | $0.00 | $0.00 |
| holding | Common stock, $0.001 par value per share | -- | -- | -- |
| holding | Common stock, $0.001 par value per share | -- | -- | -- |
| holding | Common stock, $0.001 par value per share | -- | -- | -- |
Holdings After Transaction:
Common stock, $0.001 par value per share — 3,000,000 shares (Indirect, By Beowulf E&D Holdings Inc.);
Common stock, $0.001 par value per share — 491,700 shares (Direct);
Common stock, $0.001 par value per share — 5,000 shares (Indirect, By Heorot Power Holdings LLC);
Common stock, $0.001 par value per share — 21,100,000 shares (Indirect, By Riesling Power LLC)
Footnotes (4)
- F1. 1,000,000 shares of common stock, par value $0.001 per share ("Common Stock") were contributed to Somerset Goods and Services Trust for no consideration.
- F2. By Beowulf E&D Holdings Inc. ("E&D Holdings"). The Reporting Person is the sole manager of E&D Holdings and, as a result, may be deemed to beneficially own the shares of the Common Stock held by E&D Holdings. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose
- F3. By Heorot Power Holdings LLC ("Heorot"). The Reporting Person is the sole manager of Heorot and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Heorot. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose
- F4. By Riesling Power LLC ("Riesling Power"). The Paul B. Prager Revocable Trust ("Prager Revocable Trust") is the sole member of Riesling Power. The Reporting Person is the sole trustee of the Prager Revocable Trust and may be deemed to have the power to direct the voting and disposition of the Common Stock beneficially owned by the Prager Revocable Trust. Accordingly, pursuant to the regulations promulgated under Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), Mr. Paul B. Prager may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Prager Revocable Trust .
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is Paul Prager's total beneficial ownership of WULF stock after the June 2025 transaction?
After the transaction, Paul Prager beneficially owns a total of 24,596,700 WULF shares, consisting of 491,700 shares held directly, and indirect ownership through various entities: 3,000,000 shares through Beowulf E&D Holdings, 5,000 shares through Heorot Power Holdings, and 21,100,000 shares through Riesling Power LLC.
What positions does Paul Prager hold at WULF as of June 2025?
According to the Form 4 filing, Paul Prager serves as both Director and Chief Executive Officer (CEO) of TeraWulf Inc. (WULF).
AI-generated analysis. How Rhea-AI works. Not financial advice.
