SEC Form 4 · accession 0001628280-26-063153
TERAWULF INC. · WULF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul B. Prager
Officer — Chief Executive Officer · Director
Period of report
Sep 22, 2026
Accepted (ET)
Sep 23, 2026 · 9:03 am EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001083301
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Forward sale contract (obligation to sell)F1,F2 | — | Sep 22, 2026 | J | 3,000,000 | A | — | — | Common stock, $0.001 par value per share | 3,000,000 | 3,000,000 | I |
Explanation of responses
- F1On September 22, 2026, Riesling Power LLC ("Riesling Power") entered into a prepaid variable share forward contract / loan facility (the "Contract") of approximately 14 months duration with an unaffiliated dealer with a pledge of up to a maximum of 3,000,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. The Contract can be settled in cash or Common Stock and/or refinanced, at Riesling Power's option. Pursuant to the Contract, Riesling Power received a cash payment / loan from the dealer and pledged 3,000,000 shares of Common Stock (the "Pledged Shares"). Riesling Power retains dividend and voting rights in the Pledged Shares during the term of the pledge.
- F2The Paul B. Prager Revocable Trust ("Prager Revocable Trust") is the sole member of Riesling Power. Paul B. Prager (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 Securities Exchange Act of 1934, as amended, the Reporting Person may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Prager Revocable Trust.