Applied Digital (APLD) CFO exercises RSUs; shares withheld for taxes

Rhea-AI Filing Summary

Applied Digital Corp. Chief Financial Officer Mohammad Saidal LaVanway exercised vested restricted stock units into common stock as part of his equity compensation. On April 4, 2026, he acquired a total of 94,167 shares through RSU conversions at a stated price of $0.00 per share.

To cover tax obligations from these vestings, 36,330 shares of common stock were withheld by the company at $24.56 per share, which the filing notes does not constitute an open market sale. After these transactions, he directly held 429,246 shares of common stock.

Footnotes describe RSU grants made on April 4, 2023, October 17, 2024, and February 6, 2026, including a 250,000-unit grant that vests over several years, tying future share delivery to continued employment and, in some cases, board-approved roles.

Insider Trade Summary

94,167 shares exercised/converted

Mixed 6 txns

Insider Mohmand Mohammad Saidal LaVanway

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	12,500	$0.00	--
Exercise	Restricted Stock Unit	81,667	$0.00	--
Exercise	Common Stock	12,500	$0.00	--
Tax Withholding	Common Stock	4,194	$24.56	$103K
Exercise	Common Stock	81,667	$0.00	--
Tax Withholding	Common Stock	32,136	$24.56	$789K

Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct); Common Stock — 383,909 shares (Direct)

Footnotes (1)

1. Restricted stock units ("RSUs") granted on April 4, 2023, represented 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 vested 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, and were subject to the Reporting Person's continued employment with the Company through the applicable vesting date. Includes 250,000 RSU's granted on February 6, 2026 (the "Grant Date") which 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: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months 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. 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. Restricted stock units ("RSUs") granted on October 17, 2024, represent a contingent right to receive shares of common stock of the Company 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.

Key Figures

RSU shares exercised: 94,167 shares Shares withheld for taxes: 36,330 shares Tax withholding price: $24.56 per share +5 more

8 metrics

RSU shares exercised 94,167 shares Total derivative exercises reported on April 4, 2026

Shares withheld for taxes 36,330 shares Tax-withholding dispositions at $24.56 per share

Tax withholding price $24.56 per share Price used for tax-related share withholding

Post-transaction holdings 429,246 shares Common stock directly held after final transaction

New RSU grant 250,000 RSUs Grant dated February 6, 2026 with multi-year vesting

Initial cliff vest from 250,000 RSUs 50,000 RSUs Vest on February 6, 2027, subject to employment conditions

Subsequent semiannual vesting 25,000 RSUs Each six-month installment after the cliff date

Single vesting tranche from 2024 grant 81,666–81,667 RSUs Per-date vesting amounts starting April 4, 2025

Key Terms

Restricted stock units, tax-withholding disposition, contingent right to receive shares, vesting, +1 more

5 terms

Restricted stock units financial

"Restricted stock units ("RSUs") granted on April 4, 2023, represented a contingent right"

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.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

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

"represented a contingent right to receive shares of common stock"

vesting financial

"vested as follows: 25,000 on April 4, 2024, and 12,500 on each"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

cliff date financial

"50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting"

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^*

Mohmand Mohammad Saidal LaVanway

(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)
	Chief Financial Officer

2a. Foreign Trading Symbol

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

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	04/04/2026		M		12,500	A	(1)	383,909(2)	D
Common Stock	04/04/2026		F		4,194(3)	D	$24.56	379,715(2)	D
Common Stock	04/04/2026		M		81,667	A	(4)	461,382(2)	D
Common Stock	04/04/2026		F		32,136(3)	D	$24.56	429,246(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
Restricted Stock Unit	(1)	04/04/2026		M			12,500	(1)	(1)	Common Stock	12,500	$0	0	D
Restricted Stock Unit	(4)	04/04/2026		M			81,667	(4)	(4)	Common Stock	81,667	$0	245,000	D

Explanation of Responses:

1. Restricted stock units ("RSUs") granted on April 4, 2023, represented 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 vested 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, and were subject to the Reporting Person's continued employment with the Company through the applicable vesting date.

2. Includes 250,000 RSU's granted on February 6, 2026 (the "Grant Date") which 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: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months 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. 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.

4. Restricted stock units ("RSUs") granted on October 17, 2024, represent a contingent right to receive shares of common stock of the Company 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.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	04/07/2026
	** 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 did Applied Digital (APLD) disclose about its CFO’s recent equity transactions?

Applied Digital’s CFO, Mohammad Saidal LaVanway, exercised restricted stock units into common stock and had shares withheld for taxes. The transactions reflect routine equity compensation activity, with no open-market stock sales reported in this Form 4 filing.

How many Applied Digital (APLD) shares did the CFO acquire and retain?

The CFO acquired 94,167 shares of Applied Digital common stock through RSU exercises. After tax-related share withholding transactions, he directly held 429,246 shares of common stock, according to the share amounts reported following the final transaction.

Were any Applied Digital (APLD) shares sold on the open market in this Form 4?

No open-market sales were reported. Shares labeled with code F, totaling 36,330, were withheld at $24.56 per share solely to satisfy tax obligations tied to RSU vesting, which the footnotes clarify is not an actual sale transaction.

What RSU grants to the Applied Digital (APLD) CFO are described in the filing footnotes?

Footnotes detail RSUs granted on April 4, 2023, October 17, 2024, and February 6, 2026. These units convert one-for-one into common stock and vest in scheduled installments over several years, generally conditioned on the CFO’s continued employment with the company.

How do the new 250,000 RSUs for the Applied Digital (APLD) CFO vest over time?

A grant of 250,000 RSUs dated February 6, 2026 vests 50,000 units on February 6, 2027, then 25,000 units every six months thereafter. The RSUs fully vest on the five-year anniversary, subject to continued full-time employment or specified acceleration conditions.