Wes Cummins - 12 Apr 2023 Form 4 Insider Report for Applied Digital Corp. (APLD)

Role: CEO; Chairman, Director, 10%+ Owner
Signature: /s/ David Rench as Attorney-in-Fact
Issuer symbol: APLD
Transactions as of: 12 Apr 2023
Net transactions value: +$79,500
Form type: 4
Filing time: 13 Apr 2023, 10:31:21 UTC
Previous filing: 04 Apr 2023
Next filing: 14 Apr 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APLD	Common Stock	Purchase	$79,500	+25,000	+1.3%	$3.18	1,970,686	12 Apr 2023	See Footnote	F3, F4
holding	APLD	Common Stock						3,689,944	12 Apr 2023	Direct	F1
holding	APLD	Common Stock						17,590,238	12 Apr 2023	See Footnote.	F2

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
holding	APLD	Restricted Stock Unit						416,667	12 Apr 2023	Common Stock	416,667		Direct	F5, F6
holding	APLD	Restricted Stock Unit						600,000	12 Apr 2023	Common Stock	600,000		Direct	F5, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 742,166 shares held in the Reporting Person's IRA.
F2	Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
F3	Constitutes the weighted average purchase price for multiple transactions reported on this line, having prices per share ranging from $3.10 to $3.24. The Reporting Person will provide upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding each separate transaction.
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.