Fleury Patrick 4
4 · TERAWULF INC. · Filed Apr 16, 2026
Research Summary
AI-generated summary of this filing
Terawulf CFO Patrick Fleury Exercises 327,054 Awards; 121,612 Withheld
What Happened
Patrick Fleury, Chief Financial Officer of Terawulf Inc. (WULF), had 327,054 performance stock units vest and convert into shares on April 14, 2026. Of those shares, 121,612 were withheld by the issuer to cover taxes under a net-settlement election, leaving a net issuance of 205,442 shares to Fleury. No purchase or cash sale price is reported for these transactions.
Key Details
- Transaction date: April 14, 2026; Form 4 filed April 16, 2026 (appears timely).
- Reported actions: Exercise/conversion of derivative (performance stock units) and disposition to issuer for tax withholding.
- Shares involved: 327,054 PSUs converted; 121,612 shares withheld for taxes; net shares issued ≈ 205,442.
- Price/value: Not reported (N/A) in the filing for these entries.
- Footnotes: PSUs represent contingent rights to one share each and vested upon achievement of specified performance goals between the grant date and the third anniversary of January 2, 2026, subject to continued employment. The withholding disposition was to satisfy taxes under the Reporting Person’s net-settlement election.
- Shares owned after transaction: Not specified in the filing.
Context
These were compensation-related equity awards (performance stock units) that vested and were converted into common stock, not open-market buys or discretionary sales. Withholding of shares to cover taxes is a routine administrative step and does not necessarily indicate a change in the insider’s view of the company.
Insider Transaction Report
- Exercise/Conversion
Common stock, $0.001 par value per share
[F1]2026-04-14+327,054→ 3,532,054 total - Disposition to Issuer
Common stock, $0.001 par value per share
[F2]2026-04-14−121,612→ 3,410,442 total - Exercise/Conversion
Performance-Based Restricted Stock Units
[F3][F4][F1]2026-04-14−327,054→ 981,162 total→ Common stock, $0.001 par value per share (327,054 underlying)
Footnotes (4)
- [F1]The performance stock units vested in accordance with their terms upon the achievement of specified performance goals between the grant date and the third anniversary of January 2, 2026, subject to the Reporting Person's continued employment or service with the Issuer through such date.
- [F2]The disposition is due to withholding to cover taxes, as a result of the Reporting Person's election of net settlement of performance stock units, which vest in accordance with their terms upon the achievement of specified performance goals between the grant date and the third anniversary of January 2, 2026, subject to the Reporting Person's continued employment or service with the Issuer through each such date.
- [F3]Each performance stock unit represents a contingent right to receive one share of the Issuer's Common Stock.
- [F4]The remaining performance stock units will vest in accordance with their terms upon the achievement of specified performance goals between the grant date and the third anniversary of January 2, 2026, subject to the Reporting Person's continued employment or service with the Issuer through each such date.