Applied Digital CEO acquires 100,000 vested shares
Applied Digital Corp. (APLD) CEO and Chairman Wes Cummins reported that 100,000 restricted stock units vested on October 10, 2026, converting one-for-one into 100,000 common shares.
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Form Type
4
Rhea-AI Filing Summary
Applied Digital Corp. (APLD) CEO and Chairman Wes Cummins reported that 100,000 restricted stock units vested on October 10, 2026, converting one-for-one into 100,000 common shares. The derivative position was reported as 200,000 RSUs following the transaction.
Separately, 39,350 common shares were withheld for tax purposes at a reported $23.68 per share. The footnote says this was not an actual sale or other open-market transaction.
Insider Trade Summary
100,000 shares exercised/converted
Exercise
5 txns
Insider
Cummins Wes
Role
CEO; Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit F1 | 100,000 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2, F3 | 100,000 | -- | -- |
| Tax Withholding | Common Stock F4, F2, F3 | 39,350 | $23.68 | $932K |
| holding | Common Stock F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 200,000 contracts (Direct);
Common Stock — 5,818,650 shares (Direct);
Common Stock — 17,603,036 shares (Indirect, See Footnote)
Footnotes (6)
- F1. Restricted stock units ("RSUs") granted on October 10, 2024, represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. The RSUs have no expiration date and vest as follows: 200,000 vested on October 10, 2025, 100,000 vested on April 10, 2026 , 100,000 vested on October 10, 2026, and 100,000 shall vest on April 10, 2027, and October 10, 2027.
- F2. Includes 1,500,000 RSUs granted on January 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, 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, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.
- F3. Includes 742,166 shares held in the Report Person's IRA.
- F4. Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of RSUs, which does not constitute an actual sale or other open market transaction.
- F5. Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
- F6. Shares are held by 272 Capital, of which the Reporting Person was the President.
Key Figures
RSUs vested: 100,000 RSUs
Common shares acquired: 100,000 shares
RSUs following transaction: 200,000 RSUs
+4 more
7 metrics
RSUs vested
100,000 RSUs
October 10, 2026
Common shares acquired
100,000 shares
On vesting, October 10, 2026
RSUs following transaction
200,000 RSUs
Reported after the October 10, 2026 transaction
Shares withheld for tax purposes
39,350 shares
October 10, 2026
Reported price per share for withholding
$23.68 per share
Shares withheld for tax purposes on October 10, 2026
RSUs granted
1,500,000 RSUs
Granted January 6, 2026
RSUs at cliff date
300,000 RSUs
Scheduled to vest January 6, 2027
Key Terms
Restricted stock units, contingent right, Cliff Date, accelerated vesting
4 terms
Restricted stock units financial
"Restricted stock units ("RSUs") granted on October 10, 2024"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
contingent right technical
"represent a contingent right to receive shares"
Cliff Date financial
"300,000 RSUs on January 6, 2027 (the "Cliff Date")"
accelerated vesting financial
"or accelerated vesting upon certain conditions"
A contract feature that makes stock awards, options, or restricted shares become owned or exercisable earlier than the original schedule. It shortens or cancels the waiting period so recipients can sell, transfer, or exercise their equity sooner — think of a timed lock that is unlocked ahead of schedule. It matters to investors because it changes when shares enter the market, who controls them, and how much dilution or ownership concentration happens.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are the vesting terms of Wes Cummins's 1.5 million APLD RSUs?
The 1,500,000-RSU award, granted January 6, 2026, has 300,000 RSUs vesting on January 6, 2027, with the remainder vesting in equal installments of 150,000 RSUs every six months after that date. It is scheduled to be fully vested on the five-year anniversary of the grant date, subject to continued full-time employment in a role approved by the Board of Directors or accelerated vesting upon certain conditions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
