Prager Paul B. 4

What Happened
Paul B. Prager, CEO of TeraWulf Inc. (WULF), sold a total of 275,000 shares in open‑market transactions on March 24–25, 2026, generating approximately $4,545,000 in proceeds. The individual transactions reported were:

• 137,500 shares on 2026-03-24 at a weighted average price of $16.10 — proceeds $2,213,324 (see footnote F1 for price range).
• 133,700 shares on 2026-03-25 at a weighted average price of $16.94 — proceeds $2,264,731 (see footnote F2).
• 3,800 shares on 2026-03-25 at a weighted average price of $17.62 — proceeds $66,945 (see footnote F3).

These were sales (S) reported as open‑market or private sales. Sales by executives are common and can reflect a variety of reasons (tax planning, diversification, liquidity needs); they are not, by themselves, a clear signal of company outlook.

Key Details

• Transaction dates: March 24–25, 2026. Filing date: March 25, 2026 (appears timely).
• Per‑trade weighted average prices and ranges (from Form 4 footnotes):
  • 3/24 sale: $16.10 WAP; prices ranged $15.65–$16.64 (F1).
  • 3/25 sale (large block): $16.94 WAP; prices ranged $16.53–$17.52 (F2).
  • 3/25 small block: $17.62 WAP; prices ranged $17.55–$17.75 (F3).
• Total shares sold: 275,000; total proceeds: ~$4,545,000.
• Shares owned after transaction: Not specified in the summary data provided here — see the filed Form 4 for post‑transaction holdings.
• Ownership notes: Footnotes F4–F7 indicate some shares may be held via entities (Beowulf E&D Holdings, Heorot Power, Riesling Power/Prager Revocable Trust, Stammtisch) for which Mr. Prager is a manager/trustee and may be deemed to have beneficial interests; he disclaims beneficial ownership except to the extent of pecuniary interest.
• No 10b5‑1 plan, tax withholding, or late‑filing indication was provided in the information you supplied.

Context: For retail investors, insider purchases tend to attract more bullish attention than sales because purchases indicate direct capital commitment. Sales are routine and can be for personal or tax reasons. If you rely on insider activity in your decision‑making, check the full Form 4 for exact post‑trade holdings and any additional disclosure (e.g., a 10b5‑1 plan), and consider this trade alongside company fundamentals and market conditions.