Khan Nazar M. 4

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.