Wes Cummins - 04 Apr 2024 Form 4 Insider Report for Applied Digital Corp. (APLD)

Signature
/s/ David Rench as Attorney-in-Fact
Issuer symbol
APLD
Transactions as of
04 Apr 2024
Net transactions value
-$160,600
Form type
4
Filing time
08 Apr 2024, 16:41:40 UTC
Previous filing
06 Feb 2024
Next filing
24 May 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction APLD Common Stock Options Exercise +200,000 +5.2% 4,013,877 04 Apr 2024 Direct F1, F2
transaction APLD Common Stock Tax liability $160,600 -49,113 -1.2% $3.27 3,964,764 04 Apr 2024 Direct F2, F3
holding APLD Common Stock 17,590,238 04 Apr 2024 See Footnote. F4
holding APLD Common Stock 2,030,686 04 Apr 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 -200,000 -33% $0.000000 400,000 04 Apr 2024 Common Stock 200,000 Direct F1, F6
holding APLD Restricted Stock Unit 250,000 04 Apr 2024 Common Stock 250,000 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 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.