Prager Paul B. 4
4 · TERAWULF INC. · Filed Mar 25, 2026
Research Summary
AI-generated summary of this filing
TeraWulf (WULF) CEO Paul Prager Sells 275,000 Shares
What Happened
Paul B. Prager, CEO of TeraWulf Inc. (WULF), sold a total of 275,000 shares in open‑market transactions on March 24–25, 2026, generating approximately $4,545,000 in proceeds. The individual transactions reported were:
- 137,500 shares on 2026-03-24 at a weighted average price of $16.10 — proceeds $2,213,324 (see footnote F1 for price range).
- 133,700 shares on 2026-03-25 at a weighted average price of $16.94 — proceeds $2,264,731 (see footnote F2).
- 3,800 shares on 2026-03-25 at a weighted average price of $17.62 — proceeds $66,945 (see footnote F3).
These were sales (S) reported as open‑market or private sales. Sales by executives are common and can reflect a variety of reasons (tax planning, diversification, liquidity needs); they are not, by themselves, a clear signal of company outlook.
Key Details
- Transaction dates: March 24–25, 2026. Filing date: March 25, 2026 (appears timely).
- Per‑trade weighted average prices and ranges (from Form 4 footnotes):
- 3/24 sale: $16.10 WAP; prices ranged $15.65–$16.64 (F1).
- 3/25 sale (large block): $16.94 WAP; prices ranged $16.53–$17.52 (F2).
- 3/25 small block: $17.62 WAP; prices ranged $17.55–$17.75 (F3).
- Total shares sold: 275,000; total proceeds: ~$4,545,000.
- Shares owned after transaction: Not specified in the summary data provided here — see the filed Form 4 for post‑transaction holdings.
- Ownership notes: Footnotes F4–F7 indicate some shares may be held via entities (Beowulf E&D Holdings, Heorot Power, Riesling Power/Prager Revocable Trust, Stammtisch) for which Mr. Prager is a manager/trustee and may be deemed to have beneficial interests; he disclaims beneficial ownership except to the extent of pecuniary interest.
- No 10b5‑1 plan, tax withholding, or late‑filing indication was provided in the information you supplied.
Context: For retail investors, insider purchases tend to attract more bullish attention than sales because purchases indicate direct capital commitment. Sales are routine and can be for personal or tax reasons. If you rely on insider activity in your decision‑making, check the full Form 4 for exact post‑trade holdings and any additional disclosure (e.g., a 10b5‑1 plan), and consider this trade alongside company fundamentals and market conditions.
Insider Transaction Report
Form 4
TERAWULF INC.WULF
Prager Paul B.
DirectorChief Executive Officer
Transactions
- Sale
Common stock, $0.001 par value per share
[F1]2026-03-24$16.10/sh−137,500$2,213,324→ 354,200 total - Sale
Common stock, $0.001 par value per share
[F2]2026-03-25$16.94/sh−133,700$2,264,731→ 220,500 total - Sale
Common stock, $0.001 par value per share
[F3]2026-03-25$17.62/sh−3,800$66,945→ 216,700 total
Holdings
- 4,415,852(indirect: By Beowulf E&D Holdings Inc.)
Common stock, $0.001 par value per share
[F4] - 5,000(indirect: By LLC)
Common stock, $0.001 par value per share
[F5] - 33,554,688(indirect: By LLC)
Common stock, $0.001 par value per share
[F6] - 1,100,000(indirect: By LLC)
Common stock, $0.001 par value per share
[F7]
Footnotes (7)
- [F1]The Price reported in Column 4 is a weighted average price. The shares of common stock, par value $0.001 per share ("Common Stock") were sold in multiple transactions at a price ranging from $15.6500 to $16.6400, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of TeraWulf Inc. or to TeraWulf Inc., upon request, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth above.
- [F2]The Price reported in Column 4 is a weighted average price. The shares of Common Stock were sold in multiple transactions at a price ranging from $16.5300 to $17.5200, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of TeraWulf Inc. or to TeraWulf Inc., upon request, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth above.
- [F3]The Price reported in Column 4 is a weighted average price. The shares of Common Stockwere sold in multiple transactions at a price ranging from $17.5500 to $17.7500, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of TeraWulf Inc. or to TeraWulf Inc., upon request, full information regarding the number of shares of Common Stock sold at each separate price within the range set forth above.
- [F4]By Beowulf E&D Holdings Inc. ("E&D Holdings"). The Reporting Person is the sole manager of E&D Holdings and, as a result, may be deemed to beneficially own the shares of the Common Stock held by E&D Holdings. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose.
- [F5]By Heorot Power Holdings LLC ("Heorot"). The Reporting Person is the sole manager of Heorot and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Heorot. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
- [F6]By Riesling Power LLC ("Riesling Power"). The Paul B. Prager Revocable Trust ("Prager Revocable Trust") is the sole member of Riesling Power. The Reporting Person is the sole trustee of the Prager Revocable Trust and may be deemed to have the power to direct the voting and disposition of the Common Stock beneficially owned by the Prager Revocable Trust. Accordingly, pursuant to the regulations promulgated under Section 13(d) of the Exchange Act, Mr. Paul B. Prager may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Prager Revocable Trust.
- [F7]By Stammtisch Investments LLC ("Stammtisch"). The Reporting Person is the sole manager of Stammtisch and, as a result, may be deemed to beneficially own the shares of Common Stock held by Stammtisch. The Reporting Person disclaims beneficial ownership of such shares of Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
Signature
/s/ Paul B. Prager|2026-03-25