TeraWulf (WULF) director takes 2,166 shares as board fee in stock

Rhea-AI Filing Summary

TeraWulf Inc. director Walter E. Carter received 2,166 shares of common stock as a grant, issued in lieu of cash retainers for service since the start of the first fiscal quarter of 2026. The shares were valued at $14.43 each, the closing price on March 31, 2026.

After this award, Carter directly holds 302,427 shares of TeraWulf common stock, indicating this is a routine, compensation-related acquisition rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Carter Walter E.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common stock, $0.001 par value per share	2,166	$0.00	--

Holdings After Transaction: Common stock, $0.001 par value per share — 302,427 shares (Direct)

Footnotes (1)

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Key Figures

Stock grant size: 2,166 shares Reference share price: $14.43 per share Holdings after transaction: 302,427 shares +1 more

4 metrics

Stock grant size 2,166 shares Common stock award in lieu of cash retainers

Reference share price $14.43 per share Closing price as of March 31, 2026 used for the grant

Holdings after transaction 302,427 shares Director’s direct TeraWulf common stock position after award

Transaction date March 31, 2026 Date of the reported stock grant

Key Terms

in lieu of cash retainers, closing price, common stock, $0.001 par value per share

3 terms

in lieu of cash retainers financial

"Shares of common stock issued in lieu of cash retainers accrued since the beginning..."

closing price financial

"...at a price of $14.43 per share, the closing price as of March 31, 2026."

common stock, $0.001 par value per share financial

"Common stock, $0.001 par value per share"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED 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^*

Carter Walter E.

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common stock, $0.001 par value per share	03/31/2026		A		2,166	A	(1)	302,427	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares of common stock issued in lieu of cash retainers accrued since the beginning of the first fiscal quarter of 2026, at a price of $14.43 per share, the closing price as of March 31, 2026.

Remarks:

	/s/ Stefanie C. Fleischmann, as attorney-in-fact for Walter E. Carter	04/09/2026
	** Signature of Reporting Person	Date
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)

FAQ

What did TeraWulf (WULF) director Walter E. Carter report in this Form 4?

Walter E. Carter reported receiving 2,166 shares of TeraWulf common stock as a grant. The shares were issued as stock instead of cash retainers for board service starting in early 2026 and are valued using the March 31, 2026 closing price.

How many TeraWulf (WULF) shares did the director acquire and at what price?

Carter acquired 2,166 TeraWulf common shares in this transaction. The award was priced at $14.43 per share, based on the company’s March 31, 2026 closing price, though he did not pay cash for the shares.

Is the TeraWulf (WULF) Form 4 transaction an open-market purchase or compensation grant?

The transaction is a compensation-related stock grant, not an open-market purchase. The shares were issued in lieu of cash retainers owed to the director for service in 2026, using $14.43 as the reference share value.

What are Walter E. Carter’s TeraWulf (WULF) holdings after this Form 4 transaction?

Following the grant, Carter directly holds 302,427 shares of TeraWulf common stock. This context shows the 2,166-share award is a relatively small addition to an already substantial existing position in the company.

What does “shares issued in lieu of cash retainers” mean for TeraWulf (WULF)?

It means the director’s board fees, normally paid in cash, were instead satisfied with common stock. For this period starting early 2026, TeraWulf converted those accrued retainers into 2,166 shares, valued at the $14.43 March 31, 2026 closing price.