WULF Form 4: Prager Reports 1,000,000‑Share Trust Contribution and Indirect Holdings
Rhea-AI Filing Summary
Paul B. Prager, Chief Executive Officer and Director of Terawulf Inc. (WULF), reported transactions on 09/22/2025 disclosing a contribution and other ownership changes. The filing states 1,000,000 shares of common stock were contributed to the Somerset Goods and Services Trust for no consideration. The report lists 3,795,580 shares beneficially owned indirectly by Beowulf E&D Holdings Inc., 36,100,000 shares indirectly by Riesling Power LLC, and 5,000 shares indirectly by Heorot Power Holdings LLC. The filing also shows 938,700 shares marked as disposed. The report is signed by Paul B. Prager on 09/22/2025 and identifies his relationships as CEO and Director.
Positive
- Timely Section 16 disclosure by the CEO and director, documenting ownership changes and relationships
- Substantial indirect ownership retained (36,100,000 shares via Riesling Power LLC), indicating continued insider alignment with shareholders
Negative
- 1,000,000 shares contributed to a trust for no consideration, which reduces the reporting person’s directly reported economic interest as documented
- 938,700 shares reported as disposed (disposition details such as consideration and date for that line are not fully specified in the filing)
Insights
TL;DR: CEO filed a Form 4 showing a 1,000,000-share contribution to a trust and continued substantial indirect holdings.
The Form 4 documents a non‑cash contribution of 1,000,000 shares to a named trust and shows sizeable indirect positions: 36.1 million shares via Riesling Power LLC and 3.8 million via Beowulf E&D Holdings. The report also records 938,700 shares as disposed. These disclosures affect outstanding insider ownership metrics and dilution calculations; however, the filing does not provide prices or transaction proceeds. The changes appear administrative and ownership‑structure related rather than open‑market trades.
TL;DR: Insider remains a principal beneficial owner and manager of multiple entities; the filing clarifies ownership channels and a trust transfer.
The filing explains the reporting person’s roles as sole manager or trustee of entities holding significant shares, and includes disclaimers of direct beneficial ownership except to the extent of pecuniary interest. The 1,000,000‑share contribution to the Somerset Goods and Services Trust is documented as no consideration, and customary disclaimers accompany indirect holdings. This is a standard Section 16 disclosure clarifying control relationships rather than announcing new corporate action.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common stock, $0.001 par value per share | 1,000,000 | $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 | -- | -- | -- |
Footnotes (1)
- 1,000,000 shares of common stock, par value $0.001 per share ("Common Stock"), were contributed to the Somerset Goods and Services Trust for no consideration. 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 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. 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.
