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Terawulf (WULF) director exercises 63,026 RSUs and receives 7,818-unit grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

TERAWULF INC. director Steven T. Pincus reported routine equity compensation activity. He exercised 63,026 restricted stock units into the same number of common shares at an exercise price of $0.0000, bringing his direct common stock holdings to 399,391 shares. He also received a new grant of 7,818 restricted stock units, each representing a contingent right to one common share, which will vest on the first anniversary of June 23, 2026, subject to his continued employment or service.

Positive

  • None.

Negative

  • None.
Insider Pincus Steven T.
Role null
Type Security Shares Price Value
Exercise Restricted Stock Units 63,026 $0.00 --
Grant/Award Restricted Stock Units 7,818 $0.00 --
Exercise Common stock, $0.001 par value per share 63,026 $0.00 --
Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common stock, $0.001 par value per share — 399,391 shares (Direct, null)
Footnotes (1)
  1. The Reporting Person received restricted stock units which vested upon the first anniversary of June 23, 2025, as reported in this Form 4, subject to the Reporting Person's continued employment or service with the Issuer through such date. Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock, $0.001 par value per share. The restricted stock units vested upon the first anniversary of June 23, 2025, subject to the Reporting Person's continued employment or service with the Issuer through such date. The restricted stock units will vest upon the first anniversary of June 23, 2026, subject to the Reporting Person's continued employment or service with the Issuer through such date.
RSUs exercised 63,026 shares Restricted stock units converted to common stock on June 23, 2026
Common shares held after 399,391 shares Direct common stock ownership after transactions
New RSU grant 7,818 units Restricted stock units granted on June 23, 2026
Underlying shares for new RSUs 7,818 common shares Each RSU represents one common share
Exercise price $0.0000 per share Exercise or conversion price for RSU-related transactions
Restricted Stock Units financial
"The Reporting Person received restricted stock units which vested upon the first anniversary of June 23, 2025"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Pincus Steven T.
(Last)(First)(Middle)
C/O TERAWULF INC.
9 FEDERAL STREET
(Street)
EASTON MARYLAND 21601
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
TERAWULF INC. [ WULF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/23/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common stock, $0.001 par value per share06/23/2026M63,026A(1)399,391D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(2)06/23/2026M63,026 (3) (3)Common stock, $0.001 par value per share63,026$00D
Restricted Stock Units(2)06/23/2026A7,818 (4) (4)Common stock, $0.001 par value per share7,818$07,818D
Explanation of Responses:
1. The Reporting Person received restricted stock units which vested upon the first anniversary of June 23, 2025, as reported in this Form 4, subject to the Reporting Person's continued employment or service with the Issuer through such date.
2. Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock, $0.001 par value per share.
3. The restricted stock units vested upon the first anniversary of June 23, 2025, subject to the Reporting Person's continued employment or service with the Issuer through such date.
4. The restricted stock units will vest upon the first anniversary of June 23, 2026, subject to the Reporting Person's continued employment or service with the Issuer through such date.
Remarks:
/s/ Stefanie C. Fleischmann, as attorney-in-fact for Steven T. Pincus06/25/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Steven T. Pincus report at TERAWULF (WULF)?

Steven T. Pincus reported exercising 63,026 restricted stock units into common shares and receiving a new grant of 7,818 restricted stock units. These transactions reflect routine equity compensation rather than open-market buying or selling activity.

How many TERAWULF (WULF) shares does Steven T. Pincus hold after this Form 4?

After exercising 63,026 restricted stock units, Steven T. Pincus directly holds 399,391 shares of TERAWULF common stock. This figure represents his reported direct ownership following the June 23, 2026 transactions disclosed in the Form 4 filing.

What are the terms of the new 7,818 restricted stock units for TERAWULF (WULF)?

Pincus received 7,818 restricted stock units, each representing a contingent right to one TERAWULF common share. According to the footnotes, these units will vest on the first anniversary of June 23, 2026, if his employment or service with the company continues.

Did Steven T. Pincus buy or sell TERAWULF (WULF) shares on the open market?

The Form 4 does not show any open-market purchases or sales. Instead, it reports a derivative exercise of 63,026 restricted stock units into common shares and a new grant of 7,818 restricted stock units as part of his equity compensation.

What does the vesting condition mean for Pincus’s TERAWULF (WULF) restricted stock units?

The vesting condition requires that Pincus continue his employment or service with TERAWULF through specified anniversaries of June 23, 2025 and 2026. Only if this condition is met do the restricted stock units convert into common shares.