Applied Digital (APLD) sells 10,000 shares at $38.54, holder keeps 200,859

Rhea-AI Filing Summary

Applied Digital Corp. director Douglas S. Miller reported selling 10,000 shares of common stock on January 12, 2026 at a price of $38.54 per share. After this sale, he beneficially owns 200,859 shares of the company’s stock.

This total includes 7,747 restricted stock units (RSUs) that were granted on November 9, 2025 for board service. These RSUs convert into common shares on a one-for-one basis, have no expiration date, and are scheduled to vest in full on November 5, 2026, assuming Miller continues his service as a director through that date.

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 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/12/2026

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	01/12/2026		S		10,000	D	$38.54	200,859(1)	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. 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	01/14/2026
	** 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.

FAQ

What insider transaction did Applied Digital (APLD) report?

Applied Digital reported that director Douglas S. Miller sold 10,000 shares of common stock on January 12, 2026 at a price of $38.54 per share.

How many Applied Digital shares does Douglas S. Miller own after the sale?

Following the reported sale, Douglas S. Miller beneficially owns 200,859 shares of Applied Digital common stock.

Does Douglas S. Miller still hold any restricted stock units (RSUs) in Applied Digital?

Yes. His holdings include 7,747 RSUs granted on November 9, 2025 to non-employee directors for board service.

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

The 7,747 RSUs are scheduled to vest in full on November 5, 2026, subject to his continued service as a director through that date.

What is the conversion ratio of Douglas S. Miller’s RSUs at Applied Digital?

Each RSU converts into one share of Applied Digital common stock on a one-for-one basis and has no expiration date.

Is the reported Applied Digital insider transaction a direct holding?

Yes. The filing indicates the transaction and resulting holdings are reported as direct ownership by Douglas S. Miller.