CEO Paul Prager Pledges 3M Shares in Prepaid Variable Forward Contract
WULF sits 65% above its 52-week low of $10.43.
Summary
CEO Paul Prager pledged 3 million TeraWulf shares under a prepaid variable share forward contract / loan facility, retaining voting and dividend rights while receiving cash from an unaffiliated dealer.
Key Events · Ownership and Investor Activity · WULF
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CEO Pledges 3M Shares in Forward Contract
Paul Prager, via Riesling Power LLC, entered a prepaid variable share forward contract / loan facility pledging up to 3,000,000 shares of TeraWulf common stock for approximately 14 months.
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Cash Received, Voting Rights Retained
Riesling Power received a cash payment / loan from an unaffiliated dealer and retains dividend and voting rights on the pledged shares during the term.
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Settlement Flexibility
The contract can be settled in cash or common stock, or refinanced, at Riesling Power's option — deferring any actual share sale.
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Follows Same-Day Form 144
This filing follows a Form 144 filed 2026-09-22 disclosing intent to sell 3 million shares worth about $52.4 million, now clarified as a forward contract rather than an immediate open-market sale.
Analysis · WULF · Crypto Assets
CEO Paul Prager, through his Riesling Power LLC, entered into a prepaid variable share forward contract / loan facility with an unaffiliated dealer, pledging up to 3 million shares of TeraWulf common stock for approximately 14 months. The contract can be settled in cash or stock at Riesling Power's option, and Prager retains dividend and voting rights during the pledge. This follows a Form 144 filed the same day disclosing intent to sell 3 million shares worth about $52.4 million. The forward contract structure allows Prager to monetize his position while deferring actual sale and retaining voting control — a sophisticated liquidity move that signals potential overhang on the stock without immediate dilution.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1644 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WULF was trading at $17.22 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $8.6B. The 52-week trading range was $10.43 to $29.84. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.