Fleury Patrick 4

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.