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Applied Digital Corp. (APLD) CEO Wes Cummins sells 165K shares stock

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Applied Digital Corp. CEO and Chairman Wes Cummins reported selling 165,000 shares of common stock on January 16, 2026 at a weighted average price of $36.42, with individual trades ranging from $35.07 to $37.46. After this sale, he directly beneficially owned 4,176,329 shares, which includes restricted stock units and 742,166 shares held in his IRA. The filing also shows indirect beneficial ownership of 17,590,238 shares held by Cummins Family Ltd. and 722,483 shares held by 272 Capital, LP. The RSUs include multi-year vesting schedules extending through 2027, generally conditioned on continued full-time employment or specified acceleration conditions.

Positive

  • None.

Negative

  • None.
Insider Cummins Wes
Role CEO; Chairman
Sold 165,000 shs ($6.01M)
Type Security Shares Price Value
Sale Common Stock 165,000 $36.42 $6.01M
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 4,176,329 shares (Direct); Common Stock — 17,590,238 shares (Indirect, See Footnote.)
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 $35.07 to $37.46, inclusive. Includes (i) 1,500,000 restricted stock units ("RSUs") granted on January 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, 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, (ii) 600,000 RSUs granted on April 4, 2023, of which 500,000 RSUs have vested and 100,000 RSUs will vest on April 4, 2026, and (iii) 600,000 RSUs granted on October 10, 2024, of which 200,000 RSUs have vested and 100,000 RSUs will vest on each of April 10, 2026, October 10, 2026, April 10, 2027 and October 10, 2027; in each case, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions. Includes 742,166 shares held in the Reporting Person's IRA. Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO. Shares are held by 272 Capital, LP, of which the Reporting Person was the President and CEO.
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*
Cummins Wes
(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
X Officer (give title below) Other (specify below)
CEO; Chairman
3. Date of Earliest Transaction (Month/Day/Year)
01/16/2026
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 01/16/2026 S 165,000 D $36.42(1) 4,176,329(2)(3) D
Common Stock 17,590,238 I See Footnote.(4)
Common Stock 722,483 I See Footnote(5)
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 $35.07 to $37.46, inclusive.
2. Includes (i) 1,500,000 restricted stock units ("RSUs") granted on January 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, 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, (ii) 600,000 RSUs granted on April 4, 2023, of which 500,000 RSUs have vested and 100,000 RSUs will vest on April 4, 2026, and (iii) 600,000 RSUs granted on October 10, 2024, of which 200,000 RSUs have vested and 100,000 RSUs will vest on each of April 10, 2026, October 10, 2026, April 10, 2027 and October 10, 2027; in each case, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.
3. Includes 742,166 shares held in the Reporting Person's IRA.
4. Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
5. Shares are held by 272 Capital, LP, of which the Reporting Person was the President and CEO.
Remarks:
/s/ Mark Chavez as Attorney-in-Fact 01/16/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many Applied Digital (APLD) shares did Wes Cummins sell in this Form 4?

Wes Cummins reported selling 165,000 shares of Applied Digital common stock on January 16, 2026 at a weighted average price of $36.42 per share.

What is Wes Cummins’ remaining direct ownership in Applied Digital (APLD) after the sale?

After the reported transaction, Wes Cummins beneficially owned 4,176,329 shares directly, which includes restricted stock units and 742,166 shares held in his IRA.

What indirect Applied Digital (APLD) holdings are associated with Wes Cummins?

The filing reports indirect beneficial ownership of 17,590,238 shares held by Cummins Family Ltd. and 722,483 shares held by 272 Capital, LP.

What does the Form 4 say about Wes Cummins’ role at Applied Digital?

The reporting person, Wes Cummins, is identified as a Director and Officer of Applied Digital, with the title CEO; Chairman.

How are Wes Cummins’ restricted stock units (RSUs) in Applied Digital structured?

The filing states that his holdings include 1,500,000 RSUs granted on January 6, 2026 that vest over five years, 600,000 RSUs granted on April 4, 2023 (with 100,000 vesting on April 4, 2026), and 600,000 RSUs granted on October 10, 2024 with 100,000 vesting on each of April 10, 2026; October 10, 2026; April 10, 2027; and October 10, 2027, generally subject to continued full-time employment or certain acceleration conditions.

What price range did the Applied Digital (APLD) share sale cover in this Form 4?

The reported sale price is a weighted average of $36.42 per share, with individual trades executed at prices ranging from $35.07 to $37.46, inclusive.