Applied Digital president logs equity awards, tax withholding

Applied Digital Corp. president Jason Gechen Zhang reported compensation-related stock activity, not open-market trading.

Rhea-AI Filing Summary

Applied Digital Corp. president Jason Gechen Zhang reported compensation-related stock activity, not open-market trading. On July 1, 2026, he received common shares from the vesting of previously granted performance stock units and had shares withheld to cover tax obligations at $35.52 per share.

The filing shows two stock grants of 375,000 and 300,000 shares at a stated price of $0.00 per share, reflecting PSU vesting, and tax-withholding dispositions totaling 265,613 shares. After these entries, he directly holds about 2,224,515 common shares.

Footnotes highlight additional equity incentives, including 500,000 restricted stock units granted on February 6, 2026 and 500,000 RSUs granted on August 8, 2025, each convertible into common stock on a one-for-one basis subject to multi-year vesting and continued employment conditions.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Zhang Jason Gechen

Role President

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	300,000	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	118,050	$35.52	$4.19M
Grant/Award	Common Stock	375,000	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	147,563	$35.52	$5.24M

Holdings After Transaction: Common Stock — 2,224,515 shares (Direct)

Footnotes (5)

1. F1. Shares received upon the vesting of 300,000 performance stock units ("PSUs") granted on March 12, 2025 (the "Grant Date") which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.
2. F2. Includes 500,000 restricted stock units ("RSUs") granted on February 6, 2026. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 100,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 50,000 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.
3. F3. Includes 500,000 RSUs granted on August 8, 2025. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 125,000 of the RSUs shall vest on each of September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, 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 date or accelerated vesting upon certain conditions.
4. F4. Represents the withholding of shares of common stock of the Company for tax purposes in connection with the immediate vesting of PSUs, which does not constitute an actual sale or other open market transaction.
5. F5. Shares received upon the vesting of 375,000 PSUs granted on February 6, 2026, which represented a contingent right to receive shares of common stock of the Company on a one-for-one basis.

Key Figures

Tax-withholding shares: 265,613 shares PSU grant vesting (March 12, 2025 grant): 300,000 shares PSU grant vesting (February 6, 2026 grant): 375,000 shares +4 more

7 metrics

Tax-withholding shares 265,613 shares Withheld for taxes at $35.52 per share on July 1, 2026

PSU grant vesting (March 12, 2025 grant) 300,000 shares Shares received upon vesting of PSUs granted March 12, 2025

PSU grant vesting (February 6, 2026 grant) 375,000 shares Shares received upon vesting of PSUs granted February 6, 2026

Post-transaction holdings 2,115,128 shares Applied Digital common stock held directly after July 1, 2026 transactions

RSUs granted February 6, 2026 500,000 RSUs Cliff vesting 100,000 on February 6, 2027; then 50,000 every six months

RSUs granted August 8, 2025 500,000 RSUs Four vesting installments of 125,000 RSUs through March 12, 2028

Tax-withholding price $35.52 per share Price used for tax-withholding dispositions of common stock

Key Terms

performance stock units ("PSUs"), restricted stock units ("RSUs"), tax-withholding disposition, contingent right to receive shares, +1 more

5 terms

performance stock units ("PSUs") financial

"Shares received upon the vesting of 300,000 performance stock units ("PSUs") granted on March 12, 2025"

restricted stock units ("RSUs") financial

"Includes 500,000 restricted stock units ("RSUs") granted on February 6, 2026"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

tax-withholding disposition financial

"transaction_action: "tax-withholding disposition" and footnote describing withholding of shares for tax purposes"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

contingent right to receive shares financial

"which represented a contingent right to receive shares of common stock of Applied Digital Corporation"

cliff date financial

"vest as follows: 100,000 RSUs on February 6, 2027 (the "Cliff Date")"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Applied Digital (APLD) report for President Jason Gechen Zhang?

Jason Gechen Zhang reported PSU-related stock grants and tax-withholding dispositions in Applied Digital common stock. He received 375,000 and 300,000 shares from vested performance stock units and had 265,613 shares withheld at $35.52 per share to satisfy tax obligations.

Did Applied Digital (APLD) President Jason Gechen Zhang sell shares on the open market?

The filing describes tax-withholding dispositions, not open-market sales. Shares were withheld at $35.52 per share to cover tax liabilities triggered by PSU vesting, which the footnotes state does not constitute an actual sale or other open market transaction.

How many Applied Digital (APLD) shares does Jason Gechen Zhang hold after these transactions?

After the reported PSU vesting and tax-withholding entries, Jason Gechen Zhang directly holds 2,115,128 shares of Applied Digital common stock. This post-transaction balance reflects both the stock awards received and the shares withheld for taxes on July 1, 2026.

What performance stock units vested for Applied Digital (APLD) President Jason Gechen Zhang?

Shares were received upon vesting of 300,000 PSUs granted on March 12, 2025 and 375,000 PSUs granted on February 6, 2026. Each performance stock unit represented a contingent right to receive one share of Applied Digital common stock upon vesting.

What restricted stock unit (RSU) awards does Applied Digital (APLD) have outstanding for Jason Gechen Zhang?

Footnotes state he holds 500,000 RSUs granted on February 6, 2026 and another 500,000 RSUs granted on August 8, 2025. These RSUs convert one-for-one into Applied Digital common shares, subject to multi-year vesting schedules and his continued full-time employment.

How do the Applied Digital (APLD) RSUs for Jason Gechen Zhang vest over time?

The February 6, 2026 RSUs vest 100,000 units on February 6, 2027, then 50,000 every six months until the fifth anniversary. The August 8, 2025 RSUs vest in four installments of 125,000 units on specified dates through March 12, 2028, contingent on continued employment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/02/2026 - 04:11 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Zhang Jason Gechen

(Last) (First) (Middle)

3811 TURTLE CREEK BOULEVARD

SUITE 2100

(Street)

DALLAS TEXAS 75219

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Applied Digital Corp. [ APLD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2026		A		300,000	A	(1)	2,115,128(2)(3)	D
Common Stock	07/01/2026		F		118,050(4)	D	$35.52	1,997,078	D
Common Stock	07/01/2026		A		375,000	A	(5)	2,372,078(2)(3)	D
Common Stock	07/01/2026		F		147,563(4)	D	$35.52	2,224,515	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares received upon the vesting of 300,000 performance stock units ("PSUs") granted on March 12, 2025 (the "Grant Date") which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.

2. Includes 500,000 restricted stock units ("RSUs") granted on February 6, 2026. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 100,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 50,000 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.

3. Includes 500,000 RSUs granted on August 8, 2025. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 125,000 of the RSUs shall vest on each of September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, 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 date or accelerated vesting upon certain conditions.

4. Represents the withholding of shares of common stock of the Company for tax purposes in connection with the immediate vesting of PSUs, which does not constitute an actual sale or other open market transaction.

5. Shares received upon the vesting of 375,000 PSUs granted on February 6, 2026, which represented a contingent right to receive shares of common stock of the Company on a one-for-one basis.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	07/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)