Wes Cummins - 05 Feb 2025 Form 4 Insider Report for Applied Digital Corp. (APLD)

Role
CEO; Chairman, Director, 10%+ Owner
Signature
/s/ Mark Chavez as Attorney-in-Fact
Issuer symbol
APLD
Transactions as of
05 Feb 2025
Net transactions value
-$170,173
Form type
4
Filing time
07 Feb 2025, 21:55:06 UTC
Previous filing
29 Nov 2024
Next filing
28 Mar 2025
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 +2.1% 3,959,288 05 Feb 2025 Direct F1, F2
transaction APLD Common Stock Tax liability $170,173 -21,009 -0.53% $8.10 3,938,279 05 Feb 2025 Direct F3
holding APLD Common Stock 17,590,238 05 Feb 2025 See Footnote F4
holding APLD Common Stock 1,626,453 05 Feb 2025 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 -50% $0.000000 83,334 05 Feb 2025 Common Stock 83,333 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units ("RSUs") granted on August 5, 2022 represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis. The RSUs have no expiration date and vest as follows: 83,333 on each of February 5, 2023 and August 5, 2023, 83,334 on February 5, 2024, 83,333 on each of August 5, 2024 and February 5, 2025, and 83,334 on August 5, 2025.
F2 Includes 742,166 shares held in the Reporting Person's IRA.
F3 Represents the withholding of shares of common stock of the Issuer for tax purposes in connection with the vesting of RSUs previously granted, which does not constitute an actual sale or other open market transaction.
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.

Remarks:

Exhibit 24 - Power of Attorney