Wes Cummins - Apr 4, 2024 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 4, 2024
Transactions value $
-$160,600
Form type
4
Date filed
4/8/2024, 04:41 PM
Previous filing
Feb 6, 2024
Next filing
May 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction APLD Common Stock Options Exercise +200K +5.24% 4.01M Apr 4, 2024 Direct F1, F2
transaction APLD Common Stock Tax liability -$161K -49.1K -1.22% $3.27 3.96M Apr 4, 2024 Direct F2, F3
holding APLD Common Stock 17.6M Apr 4, 2024 See Footnote. F4
holding APLD Common Stock 2.03M Apr 4, 2024 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 -200K -33.33% $0.00 400K Apr 4, 2024 Common Stock 200K Direct F1, F6
holding APLD Restricted Stock Unit 250K Apr 4, 2024 Common Stock 250K 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 272 Capital, LLC, of which the Reporting Person is the President.
F6 One-sixth of the RSUs will vest on each of October 4, 2024, April 4, 2025, October 4, 2025 and April 4, 2026.
F7 83,333 RSUs will vest on each August 5, 2024, and February 5, 2025 and 83,334 RSUs will vest on August 5, 2025.