David Rench - 05 Feb 2024 Form 4 Insider Report for Applied Digital Corp. (APLD)

Role: Chief Financial Officer
Signature: David Rench
Issuer symbol: APLD
Transactions as of: 05 Feb 2024
Net transactions value: -$49,821
Form type: 4
Filing time: 06 Feb 2024, 16:52:19 UTC
Previous filing: 08 Aug 2023
Next filing: 08 Apr 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		+41,667	+21%		239,185	05 Feb 2024	Direct	F1
transaction	APLD	Common Stock	Tax liability	$49,821	-11,695	-4.9%	$4.26	227,490	05 Feb 2024	Direct	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
transaction	APLD	Restricted Stock Unit	Options Exercise	$0	-41,667	-25%	$0.000000	125,000	05 Feb 2024	Common Stock	41,667		Direct	F1, F3
holding	APLD	Restricted Stock Unit						210,000	05 Feb 2024	Common Stock	210,000		Direct	F1, F4

* 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	Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.
F3	41,666 RSUs will vest on August 5, 2024 and 41,667 RSUs will vest on each of February 5, 2025 and August 5, 2025.
F4	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.