[Form 4] Applied Digital Corp. Insider Trading Activity

Rhea-AI Filing Summary

Applied Digital Corp. (APLD) Chief Financial Officer Mohammad Saidal LaVanway reported changes in beneficial ownership on 10/04/2025. The report shows vesting and withholding activity for restricted stock units (RSUs): 81,667 RSUs vested (from a 2024 grant) and additional RSUs from a 2023 grant moved into ownership, resulting in 326,667 shares beneficially owned following the transactions. Some vested shares were withheld for taxes (32,136 and 4,919 shares reported) at a price of $26.53 per withheld share, which are not open-market sales. The filings reflect routine equity compensation vesting tied to continued employment and do not indicate purchases or public sales by the reporting person.

Positive

• Increased insider ownership to 326,667 shares after RSU vesting, aligning executive incentives with shareholders
• Vesting schedule disclosed through 10/04/2027, providing transparency on future insider equity dilution

Negative

• Tax withholding reduced net shares delivered by 37,055 shares, lowering immediate liquidity of vested compensation
• No open‑market purchases reported, so ownership increases stem solely from compensation rather than new investment

Insights

Corporate Compensation Analyst

RSU vesting increased direct ownership by the CFO to 326,667 shares.

Vesting of RSUs granted in 2024 and 2023 converted contingent rights into common stock, increasing the reporting person’s direct holdings to 326,667 shares. The filings list two withholdings totaling 37,055 shares withheld for tax purposes at $26.53 per share, which the filer flags as non‑market disposals.

The changes are standard for executive compensation; monitor future vesting dates through 2027 for additional scheduled increases in outstanding insider ownership and any subsequent open‑market transactions.

Equity Trading Compliance Specialist

Withholdings noted are tax-related, not open-market sales, reducing shares delivered on vesting.

The report uses transaction codes consistent with RSU vesting ("M" and "F") and shows withheld shares to satisfy tax obligations, not executed sales. That distinction matters for market impact and reporting of dispositions.

Ensure these withholdings align with the company’s tax withholding policy and that any future sales are reported separately; known vesting schedule lists specific tranches through 10/04/2027.

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^*

Mohmand Mohammad Saidal LaVanway

(Last) (First) (Middle)

3811 TURTLE CREEK BOULEVARD

SUITE 2100

(Street)

DALLAS TX 75219

(City) (State) (Zip)

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)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/04/2025

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

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

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

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	10/04/2025		M		81,667	A	(1)	283,467	D
Common Stock	10/04/2025		F		32,136(2)	D	$26.53	251,331	D
Common Stock	10/04/2025		M		12,500	A	(3)	263,831	D
Common Stock	10/04/2025		F		4,919(2)	D	$26.53	258,912	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
Restricted Stock Unit	(1)	10/04/2025		M			81,667	(1)	(1)	Common Stock	81,667	$0	326,667	D
Restricted Stock Unit	(3)	10/04/2025		M			12,500	(3)	(3)	Common Stock	12,500	$0	12,500	D

Explanation of Responses:

1. Restricted stock units ("RSUs") granted on October 17, 2024 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: 81,666 on April 4, 2025, 81,667 on each of October 4, 2025 and April 4, 2026, 81,666 on October 4, 2026, and 81,667 on each of April 4, 2027 and October 4, 2027, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.

2. 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.

3. RSUs granted on April 4, 2023 represent a contingent right to receive shares of common stock of the Issuer on a one-for-one basis. The RSUs have no expiration date and vest as follows: 25,000 on April 4, 2024 and 12,500 on each of October 4, 2024, April 4, 2025, October 4, 2025 and April 4, 2026, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	10/07/2025
	** 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.

FAQ

What did APLD CFO Mohammad Saidal LaVanway report on Form 4?

The CFO reported RSU vesting and tax withholdings on 10/04/2025, resulting in 326,667 shares beneficially owned after the transactions.

How many RSU shares vested for the reporting person?

A total of 81,667 RSUs from the 2024 grant and 12,500 RSUs from the 2023 grant were recorded as vested on 10/04/2025.

Were any shares sold in the open market?

No open‑market sales were reported; withheld shares (32,136 and 4,919) were used to satisfy tax withholding obligations at $26.53 per share.

What is the vesting schedule disclosed in the filing?

The 2024 RSU grant vests in tranches through 10/04/2027; the 2023 grant includes tranches vesting through 04/04/2026.

Does the Form 4 indicate any change in reporting relationship or role?

The filing continues to identify the reporting person as the company’s Chief Financial Officer and a director; no role changes are disclosed.