Langlais Kerri M. 4

What Happened

• Kerri M. Langlais, Chief Strategy Officer and a director of Terawulf Inc. (WULF), had 327,054 performance stock units (PSUs) convert into common shares on April 14, 2026. Of those shares, 180,860 were withheld by the company to satisfy tax withholding under a net-settlement election, leaving approximately 146,194 shares issued to Langlais.
• No per-share price or aggregate dollar value was reported in the Form 4 (values shown as N/A). This was not an open-market sale; the disposition was for tax withholding.

Key Details

• Transaction date: April 14, 2026. Filing date: April 16, 2026 (appears timely).
• Converted: 327,054 PSUs → 327,054 shares (each PSU equals one share per footnote).
• Withheld (disposed to issuer) for taxes: 180,860 shares (net settlement).
• Net shares delivered to insider: ~146,194 shares.
• Footnotes: PSUs vested upon achievement of specified performance goals through the third anniversary of Jan 2, 2026 and are subject to continued employment/service; disposition is tax withholding (net settlement).
• Shares owned after the transaction: not specified in the filing.

Context

• These were performance-based equity awards converting to shares (derivative conversion), not a market purchase or voluntary sale. Withholding shares to cover taxes is routine and does not necessarily indicate a change in the insider’s view of the company.
• For retail investors, purchases typically signal stronger insider conviction than routine conversions or tax withholdings; this filing documents a standard vesting/settlement event rather than an open-market trade.