Khan Nazar M. 4

What Happened
Nazar M. Khan, Chief Technology Officer and a director of Terawulf (WULF), had 817,635 performance stock units (PSUs) vest and convert into common shares on April 14, 2026. Of those shares, 444,992 were withheld by the issuer to cover taxes (a net settlement), leaving 372,643 shares delivered to Mr. Khan. No per‑share price was reported (marked N/A); the filing shows the withholding disposition to the issuer rather than an open‑market sale.

Key Details

• Transaction date: April 14, 2026; Form 4 filed April 16, 2026 (filed within the typical 2‑business‑day window).
• Reported transactions: conversion/exercise of 817,635 PSUs; 444,992 shares withheld for taxes (disposition to issuer).
• Net shares issued to insider: 372,643 (817,635 converted minus 444,992 withheld).
• Price: N/A (not stated in the filing). Transaction codes: M = exercise/conversion of derivative (PSU); D = disposition (tax withholding).
• Shares owned after transaction: not specified in the reported excerpt.
• Notable footnotes: F1/F7/F8 — these were performance stock units that vested upon achievement of performance goals (PSU = right to one share); F2 — withholding occurred due to the insider’s election of net settlement; F3–F6 — Mr. Khan has various trust arrangements (including a revocable trust to which he contributed 14,323,523 shares) that affect how beneficial ownership is reported.

Context
This was a vesting/conversion of PSUs with net settlement (shares withheld for taxes), a routine compensation event for insiders — not an open‑market sale or purchase. For retail investors, such tax‑withholding dispositions are common and do not necessarily signal a change in the insider’s view of the company.