Wes Cummins - 05 Aug 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
05 Aug 2023
Net transactions value
-$163,824
Form type
4
Filing time
08 Aug 2023, 16:16:06 UTC
Previous filing
28 Jul 2023
Next filing
06 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction APLD Common Stock Options Exercise +83,333 +2.3% 3,773,277 05 Aug 2023 Direct F1, F2
transaction APLD Common Stock Tax liability $163,824 -21,030 -0.56% $7.79 3,752,247 05 Aug 2023 Direct F3
holding APLD Common Stock 17,590,238 05 Aug 2023 See Footnote. F4
holding APLD Common Stock 2,030,686 05 Aug 2023 See Footnote F5

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 Options Exercise $0 -83,333 -20% $0.000000 333,334 05 Aug 2023 Common Stock 83,333 Direct F1, F6
holding APLD Restricted Stock Unit 600,000 05 Aug 2023 Common Stock 600,000 Direct F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
F2 Includes 742,166 shares held in the Reporting Person's IRA.
F3 Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.
F4 Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
F5 Shares are held by B. Riley Asset Management, LLC, of which the Reporting Person is the President.
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.