Prager Paul B.

Prager Paul B., Chief Executive Officer of TeraWulf Inc. (WULF), has been a consistent seller of company stock over the past year, with no open-market purchases recorded in his SEC Form 4 filings. Across 36 transactions spanning a single company, his total sell value reached approximately $21.1 million, while his buy value stood at zero. The selling pattern is pronounced and recent: between late March and late June 2026, Prager executed 11 open-market sales (code "S") totaling roughly $21.1 million, with the largest single transaction occurring on June 29, 2026, at $3.66 million. Other notable sales included $4.07 million on May 26, 2026, and $2.81 million on May 27, 2026, alongside a series of smaller dispositions in April and March. The filings also reveal a recurring mechanical pattern of option exercises (code "M") paired with share surrenders to the issuer (code "D") to cover tax obligations, which occurred on dates such as May 18, May 6, April 24, and April 14, 2026. These transactions carry zero dollar values, indicating they are non-discretionary and tied to compensation vesting rather than market timing. Additionally, Prager received equity grants (code "A") on January 2, 2026, and engaged in several zero-value "J" transactions in late December 2025, likely related to corporate restructuring or reclassification of holdings. The overall direction is unambiguous: Prager has been a net seller of WULF shares, with all realized value coming from open-market sales rather than purchases. The absence of any buy-side activity, combined with the concentration of sales in the spring and summer of 2026, suggests a sustained reduction in his stake. While the option exercises and tax-related surrenders are routine, the open-market sales represent deliberate portfolio decisions, though the filings themselves offer no insight into the rationale behind them.