Wes Cummins - 06 Jan 2026 Form 4 Insider Report for Applied Digital Corp. (APLD)

Reporting relationship: CEO; Chairman, Director
Issuer ticker: APLD
Reported as of: 06 Jan 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 08 Jan 2026, 17:08:30 UTC
Prior SEC filing: 04 Nov 2025
Next SEC filing: 16 Jan 2026
Source filing: View source filing
Reporting owner signature: /s/ Mark Chavez as Attorney-in-Fact

Key filing fact

Wes Cummins filed Form 4 for Applied Digital Corp. (APLD) on 08 Jan 2026.

Key facts

This page summarizes Wes Cummins's Form 4 filing for Applied Digital Corp. (APLD).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 08 Jan 2026, 17:08.

Change

Previous filing in this sequence was filed on 04 Nov 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001391935 Primary reporting owner

Cummins Wes

Relationship: CEO; Chairman, Director
Address: 3811 TURTLE CREEK BOULEVARD, SUITE 2100, DALLAS
Signature: /s/ Mark Chavez as Attorney-in-Fact
Signature date: 08 Jan 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

APLD transaction

Common Stock

Award

Transaction value: $0
Shares: +1,500,000
Change %: +53%
Price: $0.000000
Shares after: 4,341,329
Date: 06 Jan 2026
Ownership: Direct
Footnotes: F1, F2

APLD holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 17,590,238
Date: 06 Jan 2026
Ownership: See Footnote.
Footnotes: F3

APLD holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 722,483
Date: 06 Jan 2026
Ownership: See Footnote
Footnotes: F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

APLD transaction Derivative

Performance Stock Units

Award

Transaction value: $0
Shares: +4,500,000
Change %
Price: $0.000000
Shares after: 4,500,000
Date: 06 Jan 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 4,500,000
Exercise price
Footnotes: F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

Restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis, have no expiration date, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Footnote F2

Includes 742,166 shares held in the Reporting Person's IRA. Also includes (i) 600,000 RSUs granted on April 4, 2023, which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis and have no expiration, of which 500,000 RSUs have vested and 100,000 RSUs will vest on April 4, 2026, and (ii) 600,000 RSUs granted on October 10, 2024, which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis and have no expiration date, of which 200,000 RSUs have vested and 100,000 RSUs will vest on each of April 10, 2026, October 10, 2026, April 10, 2027 and October 10, 2027; in each case, subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through such date or accelerated vesting upon certain conditions.

Footnote F3

Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.

Footnote F4

Shares are held by 272 Capital, LP, of which the Reporting Person was the President and CEO.

Footnote F5

Performance stock units ("PSUs") granted on January 6, 2026 represent a contingent right to receive shares of common stock of the Company on a one-for-one basis and vest in three equal tranches over a period of five years, with each tranche subject to a performance-based vesting condition that requires achievement of an average closing stock price hurdle (equal to $50, $75 and $100, respectively), as measured over a 90 consecutive calendar day period, as described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 8, 2026, subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company or within twelve months following certain terminations of employment.