Terawulf (WULF) CFO Patrick Fleury Exercises and Disposes 500,000 Shares

What Happened

• Patrick Fleury, Chief Financial Officer of Terawulf, shows a conversion/exercise of a derivative (Form 4 code M) into 500,000 shares on August 1, 2026, and a simultaneous disposition of 500,000 shares on the same date. The filing does not report a per-share price or total dollar value for these transactions.
• The conversion relates to restricted stock units (RSUs) that vested (each RSU converts into one share). The form reports both an acquisition (conversion) and a disposal of the same number of shares; the filing does not state the reason for the disposition.

Key Details

• Transaction date: August 1, 2026 (reported on Form 4 filed Aug 3, 2026).
• Transaction type: M = exercise/conversion of derivative (500,000 acquired; 500,000 disposed). Price: N/A in filing.
• Shares owned/beneficial ownership: The filing notes the Reporting Person contributed shares to the Fleury-Reycroft Revocable Trust (1,000,000 shares on Jul 31, 2026 and 3,005,519 shares on Aug 3, 2026) and may be deemed a beneficial owner of those trust-held shares per footnote F2. The Form 4 excerpt does not list a final total share count after these transactions.
• Relevant footnotes: F1/F3/F4 explain these were RSUs (each RSU = 1 share) that vested on the first anniversary of Aug 1, 2025 (with remaining RSUs vesting ratably in years 2 and 3). F2 describes transfers to a revocable trust that may affect beneficial ownership.
• Timeliness: Form filed Aug 3 for an Aug 1 transaction—appears timely under Section 16 reporting rules (not marked late).

Context

• Code M transactions are conversions/exercises of derivatives (here, vested RSUs converting into common stock). The filing shows an immediate disposition of the same number of shares but does not specify whether that was for tax withholding, sale, or another purpose.
• Transfers into a revocable trust (disclosed in the footnotes) are gifts/transfers and do not necessarily signal a change in sentiment; the Reporting Person may nonetheless be deemed a beneficial owner of trust shares under the rules.