Applied Digital (APLD) director sells 10,000 shares at $34.98

Rhea-AI Filing Summary

Applied Digital Corp. director Douglas S. Miller reported an open-market sale of 10,000 shares of common stock at a weighted average price of $34.98 per share. After this sale, he directly holds 184,859 shares.

His holdings include 7,747 restricted stock units granted on November 9, 2025, which convert into common stock on a one-for-one basis and vest in full on November 5, 2026, contingent on his continued board service.

Insider Trade Summary

Net Seller: 10,000 shares ($349,800)

Net Sell 1 txn

Insider MILLER DOUGLAS S

Role null

Sold 10,000 shs ($350K)

Type	Security	Shares	Price	Value
Sale	Common Stock	10,000	$34.98	$350K

Holdings After Transaction: Common Stock — 184,859 shares (Direct, null)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.91 to $35.05, inclusive. Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Key Figures

Shares sold: 10,000 shares Sale price (weighted average): $34.98 per share Sale price range: $34.91–$35.05 per share +3 more

6 metrics

Shares sold 10,000 shares Open-market sale of common stock on April 27, 2026

Sale price (weighted average) $34.98 per share Weighted average across multiple transactions

Sale price range $34.91–$35.05 per share Range of prices for individual sale trades

Shares held after transaction 184,859 shares Direct ownership following the reported sale

Restricted stock units 7,747 RSUs Granted November 9, 2025 to non-employee director

RSU vesting date November 5, 2026 RSUs vest in full, subject to continued service

Key Terms

weighted average price, restricted stock units, non-employee directors, open-market sale

4 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

restricted stock units financial

"Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025"

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.

non-employee directors financial

"RSUs granted on November 9, 2025 to non-employee directors for board service."

open-market sale financial

"transaction_action is classified as an open-market sale of common stock"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

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^*

MILLER DOUGLAS S

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2026

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	04/27/2026		S		10,000	D	$34.98(1)	184,859(2)	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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.91 to $35.05, inclusive.

2. Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	04/28/2026
	** 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)

FAQ

What insider transaction did Applied Digital (APLD) report for Douglas S. Miller?

Douglas S. Miller reported an open-market sale of 10,000 Applied Digital common shares at a weighted average price of $34.98. This Form 4 filing reflects a single non-derivative transaction classified as a sale in the open market.

How many Applied Digital (APLD) shares does Douglas S. Miller hold after the sale?

After selling 10,000 shares, Douglas S. Miller holds 184,859 Applied Digital common shares directly. This total includes shares underlying restricted stock units that will convert into common stock once they vest under the award terms.

At what prices were Douglas S. Miller’s Applied Digital (APLD) shares sold?

The reported price of $34.98 is a weighted average. According to the footnote, the 10,000 shares were sold in multiple transactions at prices ranging from $34.91 to $35.05 per share, all classified as open-market sales.

What restricted stock units (RSUs) does Douglas S. Miller hold in Applied Digital (APLD)?

Douglas S. Miller holds 7,747 restricted stock units granted on November 9, 2025 for his service as a non-employee director. These RSUs convert one-for-one into Applied Digital common shares and vest in full on November 5, 2026, subject to continued service.

When do Douglas S. Miller’s Applied Digital (APLD) RSUs vest?

His 7,747 restricted stock units are scheduled to vest in full on November 5, 2026. Vesting is conditioned on his continued service as a non-employee director through that date, after which the RSUs convert into common stock on a one-for-one basis.