TeraWulf Inc.: 5 insiders sold $36.8M of stock in the open market from 2024-09-10 to 2026-09-10, and the top-paid officer's 2025 pay was $39.4M.

Every Form 4 sale as filed, every proxy pay year, $370.5K bought; earlier filings are not on file. Paul Prager's 2025 pay is 0.5% of the $8.24B market capitalization on 2026-09-04; the market capitalization is 209 times that pay. Definitions

WULF people

DEF 14A filed 2026-04-28

13 people at TeraWulf Inc., largest seller first; pay is the latest year of the proxy's table, sales and purchases are the two-year window.

Person	Latest pay	Sold	Shares sold	Sales	Bought	Last sale
Paul PragerChief Executive Officer and Chairman of the Board of Directors; director; officer (Chief Executive Officer)	$39.4M2025	$23.4M$18.9M under a plan	1,100,000	12	none	2026-08-27
Patrick FleuryChief Financial Officer; officer (Chief Financial Officer)	$20.1M2025	$9.7M	600,000	2	none	2026-03-17
Carter Walter E.director	not in the proxy	$2M	130,626	1	none	2026-08-31
Motz Catherine J.director	not in the proxy	$1.7M	130,147	3	none	2026-09-08
Fabiano Amandadirector	not in the proxy	$39.7K	4,600	1	none	2025-08-15
Nazar KhanChief Technology Officer and Director; director; officer (Chief Technology Officer)	$30.1M2025	none	none	0	none	no sale
Kerri LanglaisChief Strategy Officer and Director; director; officer (Chief Strategy Officer)	$20.2M2025	none	none	0	none	no sale
William TanimotoChief Accounting Officer; officer (Chief Accounting Officer)	$1.1M2025	none	none	0	none	no sale
Kenneth DeaneFormer Chief Accounting Officer and Treasurer; officer (Chief Acct Officer + Treasurer)	$628.1K2025	none	none	0	none	no sale
Bucella Michael C.director	not in the proxy	none	none	0	$370.5K	no sale
Jarvis Christopher Allendirector	not in the proxy	none	none	0	none	no sale
Pincus Steven T.director	not in the proxy	none	none	0	none	no sale
Prager Lisa A.director	not in the proxy	none	none	0	none	no sale

WULF: every sale and every pay year

Each TeraWulf Inc. person's sales as filed, newest first, and each year of the proxy's table; 19 sales in all.

Paul Prager Chief Executive Officer and Chairman of the Board of Directors; director; officer (Chief Executive Officer)

Sold 1,100,000 shares for $23.4M in 12 sales between 2026-03-24 and 2026-08-27, $18.9M of it under a 10b5-1 plan. Filed as Prager Paul B..

12 sales

Date	Shares	Price	Value	Terms	Form 4
2026-08-27	137,500	$17.06	$2.3M	10b5-1 plan	filed 2026-08-28
2026-06-29	137,500	$26.60	$3.7M	10b5-1 plan	filed 2026-07-01
2026-05-27	109,849	$25.58	$2.8M	10b5-1 plan	filed 2026-05-28
2026-05-27	56,801	$26.57	$1.5M	10b5-1 plan	filed 2026-05-28
2026-05-26	166,650	$24.43	$4.1M	10b5-1 plan	filed 2026-05-28
2026-04-28	79,100	$20.62	$1.6M	open market	filed 2026-04-28
2026-04-28	100	$21.29	$2.1K	open market	filed 2026-04-28
2026-04-27	80,591	$20.51	$1.7M	open market	filed 2026-04-28
2026-04-27	56,909	$21.20	$1.2M	open market	filed 2026-04-28
2026-03-25	133,700	$16.94	$2.3M	10b5-1 plan	filed 2026-03-25
2026-03-25	3,800	$17.62	$66.9K	10b5-1 plan	filed 2026-03-25
2026-03-24	137,500	$16.10	$2.2M	10b5-1 plan	filed 2026-03-25

Pay by year, 3 years

Year	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	All other	Total
2025	$1M	$15M	$23.2M	not printed	not printed	$259.6K	$39.4M
2024	$960.1K	$1.5M	$4.4M	not printed	not printed	$19.4K	$6.9M
2023	$950.5K	$1.4M	$0	not printed	not printed	$18.6K	$2.4M

Patrick Fleury Chief Financial Officer; officer (Chief Financial Officer)

Sold 600,000 shares for $9.7M in 2 sales between 2026-03-17 and 2026-03-17. Filed as Fleury Patrick.

2 sales

Date	Shares	Price	Value	Terms	Form 4
2026-03-17	573,586	$16.14	$9.3M	open market	filed 2026-03-19
2026-03-17	26,414	$16.14	$426.3K	open market	filed 2026-03-19

Pay by year, 3 years

Year	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	All other	Total
2025	$500.4K	$7M	$12.6M	not printed	not printed	$33.4K	$20.1M
2024	$419.7K	$1.5M	$7.8M	not printed	not printed	$377	$9.7M
2023	$390.9K	$400K	$724.9K	not printed	not printed	$377	$1.5M

Carter Walter E. director

Sold 130,626 shares for $2M in 1 sale between 2026-08-31 and 2026-08-31.

1 sale

Date	Shares	Price	Value	Terms	Form 4
2026-08-31	130,626	$15.14	$2M	open market	filed 2026-09-01

Motz Catherine J. director

Sold 130,147 shares for $1.7M in 3 sales between 2025-06-18 and 2026-09-08.

3 sales

Date	Shares	Price	Value	Terms	Form 4
2026-09-08	56,023	$17.81	$997.9K	open market	filed 2026-09-09
2025-09-19	52,942	$11.04	$584.2K	open market	filed 2025-09-22
2025-06-18	21,182	$3.92	$83K	open market	filed 2025-06-18

Fabiano Amanda director

Sold 4,600 shares for $39.7K in 1 sale between 2025-08-15 and 2025-08-15.

1 sale

Date	Shares	Price	Value	Terms	Form 4
2025-08-15	4,600	$8.64	$39.7K	open market	filed 2025-08-18

Nazar Khan Chief Technology Officer and Director; director; officer (Chief Technology Officer)

No open-market sale of common stock in the window. Filed as Khan Nazar M..

Pay by year, 2 years

Year	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	All other	Total
2025	$750.4K	$10M	$19.2M	not printed	not printed	$133.1K	$30.1M
2024	$508.2K	$750K	$4.9M	not printed	not printed	$18.4K	$6.1M

Kerri Langlais Chief Strategy Officer and Director; director; officer (Chief Strategy Officer)

No open-market sale of common stock in the window. Filed as Langlais Kerri M..

Pay by year, 3 years

Year	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	All other	Total
2025	$500.4K	$7M	$12.6M	not printed	not printed	$88.6K	$20.2M
2024	$419.7K	$1.4M	$7.8M	not printed	not printed	$18.4K	$9.6M
2023	$401.1K	$400K	$724.9K	not printed	not printed	$17.6K	$1.5M

William Tanimoto Chief Accounting Officer; officer (Chief Accounting Officer)

No open-market sale of common stock in the window. Filed as Tanimoto William Joseph.

Pay by year, one year

Year	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	All other	Total
2025	$245.8K	$180K	$612.9K	not printed	not printed	$12.4K	$1.1M

Kenneth Deane Former Chief Accounting Officer and Treasurer; officer (Chief Acct Officer + Treasurer)

No open-market sale of common stock in the window. Filed as Deane Kenneth J.

Pay by year, 3 years

Year	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	All other	Total
2025	$175.1K	$0	$436.8K	not printed	not printed	$16.2K	$628.1K
2024	$325.5K	$350K	$478.8K	not printed	not printed	$18.8K	$1.2M
2023	$325.7K	$162.5K	$145K	not printed	not printed	$18.5K	$651.7K

Bucella Michael C. director

No open-market sale of common stock in the window. Bought 27,951 shares for $370.5K in 13 purchases.

13 purchases

Date	Shares	Price	Value	Terms	Form 4
2026-08-17	2,860	$17.47	$50K	open market	filed 2026-08-17
2026-08-14	3,023	$16.54	$50K	open market	filed 2026-08-17
2026-03-20	1,665	$15.04	$25K	open market	filed 2026-03-20
2026-03-19	1,670	$14.96	$25K	open market	filed 2026-03-19
2026-03-18	1,581	$15.79	$25K	open market	filed 2026-03-19
2026-03-17	1,584	$16.00	$25.3K	open market	filed 2026-03-19
2026-03-11	1,338	$14.91	$19.9K	open market	filed 2026-03-13
2026-03-09	752	$13.31	$10K	open market	filed 2026-03-09
2026-03-06	679	$14.80	$10K	open market	filed 2026-03-09
2026-03-05	654	$15.31	$10K	open market	filed 2026-03-09
2026-03-04	3,171	$15.78	$50K	open market	filed 2026-03-04
2025-11-13	4,178	$12.01	$50.2K	open market	filed 2025-12-11
2025-01-27	4,796	$4.17	$20K	open market	filed 2025-01-31