Wes Cummins - Apr 1, 2023 Form 4 Insider Report for Applied Digital Corp. (APLD)

Role
CEO; Chairman, Director, 10%+ Owner
Signature
/s/ David Rench as Attorney-in-Fact
Stock symbol
APLD
Transactions as of
Apr 1, 2023
Transactions value $
-$34,091
Form type
4
Date filed
4/4/2023, 08:38 PM
Previous filing
Feb 28, 2023
Next filing
Apr 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction APLD Common Stock Tax liability -$34.1K -15.2K -0.41% $2.24 3.69M Apr 1, 2023 Direct F1, F2
holding APLD Common Stock 17.6M Apr 1, 2023 See Footnote. F3
holding APLD Common Stock 1.95M Apr 1, 2023 See Footnote F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction APLD Restricted Stock Unit Award $0 +600K $0.00 600K Apr 4, 2023 Common Stock 600K Direct F5, F7
holding APLD Restricted Stock Unit 417K Apr 1, 2023 Common Stock 417K Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.
F2 Includes 742,166 shares held in the Reporting Person's IRA.
F3 Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
F4 Shares are held by B. Riley Asset Management, LLC, of which the Reporting Person is the President.
F5 Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
F6 83,333 RSUs will vest on August 5, 2023, August 5, 2024, and February 5, 2025 and 83,334 RSUs will vest on February 5, 2024 and August 5, 2025.
F7 One-third of the RSUs will vest on April 4, 2024, and one-sixth of the RSUs will vest on each of October 4, 2024, April 4, 2025, October 4, 2025 and April 4, 2026.