Khan Nazar M. 4
4 · TERAWULF INC. · Filed Apr 24, 2026
Research Summary
AI-generated summary of this filing
TeraWulf (WULF) CTO Nazar M. Khan Exercises and Sells Shares
What Happened
- Nazar M. Khan, Chief Technology Officer and Director of TeraWulf (WULF), reported conversion/exercise of 817,635 performance stock units into common shares on April 24, 2026. The filing also shows dispositions on the same date: 452,152 shares were disposed (withheld/sold) to cover taxes as part of a net settlement, and a derivative-related disposition is shown for 817,635 shares. No per-share price or dollar values were reported (listed as N/A).
Key Details
- Date of transactions: 2026-04-24.
- Transactions reported: M (exercise/conversion) of 817,635 PSUs; S (sale/disposition) of 452,152 shares; additional M-coded disposition of 817,635 shares (derivative-related).
- Prices/values: Not reported (N/A) in the filing.
- Shares owned after transaction: Not specified in the provided excerpt of the report.
- Notable footnotes:
- PSUs vested upon achievement of specified performance goals between grant date and the third anniversary of Jan 2, 2026, subject to continued service (F1, F7, F8).
- 452,152-share disposition was withholding to cover taxes from a net settlement election (F2).
- Several footnotes (F3–F6) describe beneficial ownership through trusts and entities (Khan Revocable Trust, Lake Harriet Holdings, etc.); the reporting person disclaims broader beneficial ownership beyond pecuniary interest where noted.
- Timeliness: Reported and filed with a report date of 2026-04-24 (no late-filing indication).
Context
- These were not open-market purchases; they reflect vesting/conversion of performance stock units and routine tax-withholding via share disposal (a common "cashless" or net-settlement outcome when awards vest).
- For retail investors: such transactions are typically administrative (vesting and tax withholding) rather than clear signals of buying or selling sentiment.
Insider Transaction Report
Form 4
TERAWULF INC.WULF
Khan Nazar M.
DirectorChief Technology Officer
Transactions
- Exercise/Conversion
Common stock, $0.001 par value per share
[F1]2026-04-24+817,635→ 1,190,778 total - Sale
Common stock, $0.001 par value per share
[F2]2026-04-24−452,152→ 738,626 total - Exercise/Conversion
Performance-Based Restricted Stock Units
[F7][F8][F1]2026-04-24−817,635→ 1,635,269 total→ Common stock, $0.001 par value per share (817,635 underlying)
Holdings
- 14,323,523(indirect: By Trust)
Common stock, $0.001 par value per share
[F3] - 7,269,019(indirect: By LLC)
Common stock, $0.001 par value per share
[F4] - 4,019,787(indirect: By Trust)
Common stock, $0.001 par value per share
[F5] - 414,939(indirect: By Trust)
Common stock, $0.001 par value per share
[F6]
Footnotes (8)
- [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 each 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 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 each such date.
- [F3]By The Nazar M. Khan Revocable Trust ("Khan Revocable Trust"). The Reporting Person is the sole trustee of the Khan Revocable Trust and may be deemed to have the power to direct the voting and disposition of the shares of common stock, par value $0.001 per share ("Common Stock") beneficially owned by the Khan Trust. Accordingly, pursuant to the regulations promulgated under Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Reporting Person may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Khan Revocable Trust.
- [F4]By Lake Harriet Holdings, LLC ("Lake Harriet Holdings"). The Khan Revocable Trust is the sole member of Lake Harriet Holdings. The Reporting Person is the sole trustee of the Khan Revocable Trust and may be deemed to have the power to direct the voting and disposition of the shares of Common Stock beneficially owned by the Khan Revocable Trust. Accordingly, pursuant to the regulations promulgated under Section 13(d) of the Exchange Act, the Reporting Person may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Khan Revocable Trust.
- [F5]By various trusts. The Reporting Person may be deemed to beneficially own the shares of Common Stock held by such trusts. The Reporting Person disclaims beneficial ownership of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
- [F6]By Yaqeen I Trust. The Reporting Person may be deemed to beneficially own the Shares held by Yaqeen I Trust. The Reporting Person disclaims beneficial ownership of the Shares except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this report shall not be deemed an admission of beneficial ownership of all of the reported Shares for purposes of Section 16 of the Securities Exchange Act, or for any other purpose.
- [F7]Each performance stock unit represents a contingent right to receive one share of the Issuer's Common Stock.
- [F8]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.
Signature
/s/ Nazar M. Khan|2026-04-24