TeraWulf director gains 56K shares from RSU vesting

TERAWULF INC. director Walter E. Carter reported equity compensation activity involving restricted stock units and common shares.

Accepted by SEC EDGAR 06/25/2026 - 05:16 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

TERAWULF INC. director Walter E. Carter reported equity compensation activity involving restricted stock units and common shares. On June 23, 2026, he exercised 56,023 restricted stock units, receiving 56,023 shares of common stock. After this exercise, he directly holds 358,450 common shares.

On the same date, he also received a grant of 6,950 new restricted stock units, each representing one share of common stock. According to the footnotes, these units will vest upon the first anniversary of June 23, 2026, contingent on his continued employment or service with the company. The filing shows no remaining derivative holdings after these transactions, indicating a routine conversion of prior RSU awards and a new annual grant rather than open-market buying or selling.

Insider Trade Summary

56,023 shares exercised/converted

Exercise 3 txns

Insider Carter Walter E.

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	56,023	$0.00	$0.00
Grant/Award	Restricted Stock Units	6,950	$0.00	$0.00
Exercise	Common stock, $0.001 par value per share	56,023	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 6,950 contracts (Direct); Common stock, $0.001 par value per share — 358,450 shares (Direct)

Holdings Before and After: Restricted Stock Units, 56,023 to 6,950 contracts (Direct); Common stock, $0.001 par value per share, 302,427 to 358,450 shares (Direct)

Footnotes (4)

1. F1. 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. F2. 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. F3. 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. F4. 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.

Key Figures

RSUs exercised: 56,023 units Common shares held after: 358,450 shares New RSU grant: 6,950 units +2 more

5 metrics

RSUs exercised 56,023 units Converted into 56,023 common shares on June 23, 2026

Common shares held after 358,450 shares Direct holdings after RSU exercise

New RSU grant 6,950 units Granted June 23, 2026 as equity award

Underlying shares per RSU 1 share per unit Each RSU represents one common share

Exercise price of RSUs $0.0000 per unit Reported exercise/conversion price for RSUs

Key Terms

Restricted stock units, derivative security, contingent right, Form 4, +1 more

5 terms

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

"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"

Form 4 regulatory

"as reported in this Form 4, subject to the Reporting Person's continued employment"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

vesting financial

"The restricted stock units will vest upon the first anniversary of June 23, 2026"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did TERAWULF (WULF) director Walter E. Carter report?

Walter E. Carter reported exercising 56,023 restricted stock units into common shares and receiving a new grant of 6,950 restricted stock units. These actions reflect equity compensation, not open-market buying or selling of TERAWULF stock.

How many TERAWULF (WULF) shares does Walter E. Carter hold after this Form 4?

After the reported transactions, Walter E. Carter directly holds 358,450 shares of TERAWULF common stock. This figure reflects his position following the conversion of 56,023 restricted stock units into common shares on June 23, 2026.

What happened to the 56,023 restricted stock units in the TERAWULF (WULF) filing?

The 56,023 restricted stock units were exercised and converted into 56,023 shares of TERAWULF common stock. Following this exercise, the restricted stock unit balance tied to that award dropped to zero, completing the conversion from derivative to non-derivative holdings.

What are the terms of the new 6,950 restricted stock units at TERAWULF (WULF)?

The 6,950 new restricted stock units will vest on the first anniversary of June 23, 2026, if Walter E. Carter continues employment or service with TERAWULF. Each unit represents a contingent right to receive one share of common stock.

Does the TERAWULF (WULF) Form 4 show any stock sales or open-market trades?

The Form 4 does not show any open-market stock sales or purchases. It reports an exercise of 56,023 restricted stock units into common shares and a new grant of 6,950 restricted stock units, both categorized as acquisition-type transactions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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)
06/23/2026

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	06/23/2026		M		56,023	A	(1)	358,450	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
Restricted Stock Units	(2)	06/23/2026		M			56,023	(3)	(3)	Common stock, $0.001 par value per share	56,023	$0	0	D
Restricted Stock Units	(2)	06/23/2026		A		6,950		(4)	(4)	Common stock, $0.001 par value per share	6,950	$0	6,950	D

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 Walter E. Carter	06/25/2026
	** 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)