Fleury Patrick 4
4 · TERAWULF INC. · Filed Apr 24, 2026
Research Summary
AI-generated summary of this filing
Terawulf (WULF) CFO Patrick Fleury Exercises Units, Withholds Shares
What Happened Patrick Fleury, Chief Financial Officer of Terawulf Inc. (WULF), reported the conversion/settlement of 327,054 performance stock units into an equal number of shares on April 24, 2026. Of those shares, 128,695 were disposed to the issuer to satisfy tax withholding under a net-settlement election, resulting in a net delivery of 198,359 shares to Fleury. No per-share price or total dollar value is reported in the filing.
Key Details
- Transaction date: 2026-04-24.
- Primary transactions: Exercise/conversion of 327,054 performance stock units (code M); disposition/withholding of 128,695 shares to issuer for taxes (code D).
- Net shares delivered to insider: 198,359 shares (327,054 converted − 128,695 withheld).
- Price/value: Not reported (N/A) in the Form 4.
- Shares owned after transaction: Not reported in this filing.
- Notable footnotes:
- F1/F4: These were performance stock units (PSUs) that vested upon achievement of specified performance goals through the third anniversary of Jan 2, 2026, subject to continued service.
- F2: The 128,695-share disposition was withholding to cover taxes under a net settlement election.
- F3: Each PSU represents a contingent right to one share of common stock.
- Filing timeliness: Filing date and report period are both 2026-04-24; the filing appears to be timely.
Context This was a conversion/settlement of vested performance-based awards (PSUs), not an open-market purchase or voluntary sale; the withholding of shares for taxes is a routine administrative step (similar to a cashless/net settlement). Because no price or dollar value is disclosed, investors should rely on market prices at the time to estimate economic impact.
Insider Transaction Report
- Exercise/Conversion
Common stock, $0.001 par value per share
[F1]2026-04-24+327,054→ 3,737,496 total - Disposition to Issuer
Common stock, $0.001 par value per share
[F2]2026-04-24−128,695→ 3,608,801 total - Exercise/Conversion
Performance-Based Restricted Stock Units
[F3][F4][F1]2026-04-24−327,054→ 654,108 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 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]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.