Langlais Kerri M. 4

What Happened

• Kerri M. Langlais, Chief Strategy Officer and Director of Terawulf Inc. (WULF), had 327,054 performance stock units (PSUs) convert into common shares on April 24, 2026. Of those converted shares, 180,860 were disposed (withheld) to the issuer to cover withholding taxes under a net settlement, leaving a net issuance of 146,194 shares to the reporting person.
• No cash purchase or open-market sale occurred — this was a compensation event (vesting/conversion of PSUs). The filing shows no per-share price (N/A), so no dollar value is reported.

Key Details

• Transaction date: 2026-04-24. Form filed same day (period and filing date both 2026-04-24).
• Reported transactions:
  • M (exercise/conversion of derivative): 327,054 PSUs converted to shares (acquired).
  • D (disposition to issuer): 180,860 shares withheld to cover taxes (net settlement).
• Net shares received by the insider: 146,194 (327,054 converted − 180,860 withheld).
• Price per share: N/A in the filing, so total dollar value not disclosed.
• Footnotes: PSUs vested upon achievement of specified performance goals (subject to continued service); each PSU equals one share; the withholding was tax-related (net settlement); remaining PSUs will vest per their terms.
• Shares owned after the transaction: not specified in the provided filing details.
• Timeliness: filing appears timely (no late filing flag indicated).

Context

• This was a routine compensation vesting and net-settlement for tax withholding, not an open-market purchase or sale. For derivative entries like this, "conversion" means performance units became actual shares; “withheld” shares are commonly surrendered to the company to satisfy tax obligations and do not represent a market sale decision.
• Such vesting events are common for executives and reflect awarded compensation reaching vesting conditions; they are informative but do not necessarily signal the insider’s view on the stock’s near-term outlook.