Fleury Patrick 4

What Happened

• Patrick Fleury, Chief Financial Officer of Terawulf Inc. (WULF), had 327,054 performance stock units (PSUs) convert/vest on May 6, 2026. Of the resulting shares, 128,695 were withheld by the issuer to cover taxes (disposition to issuer), leaving a net issuance of approximately 198,359 shares to Fleury. No per-share price or total dollar value is reported in the filing (listed as N/A).

Key Details

• Transaction date: May 6, 2026; Form 4 filed May 8, 2026 (filed within the typical 2-business-day window).
• Reported actions: Exercise/conversion of derivatives (code M) — 327,054 PSUs; disposition to issuer for tax withholding (code D) — 128,695 shares.
• Net shares received (calculated): 327,054 − 128,695 = 198,359 shares delivered to the reporting person.
• Price/value: Not reported (N/A) in the filing.
• Relevant footnotes:
  • F1/F4: PSUs vested upon achievement of specified performance goals through the third anniversary of Jan 2, 2026 and subject to continued service.
  • F2: The disposition of 128,695 shares was a withholding to cover taxes as part of the reporting person’s election of net settlement.
  • F3: Each PSU represents a contingent right to receive one share of common stock.

Context

• This was a conversion/vesting of performance-based awards, not an open-market purchase or sale. The filing shows a net settlement (shares withheld for taxes) rather than an immediate public sale of shares. Such tax-withholding dispositions are routine administrative events following vesting/conversion and do not by themselves indicate a buy or sell signal about the insider’s view of the stock.