[Form 4] Applied Digital Corp. Insider Trading Activity

Rhea-AI Filing Summary

Applied Digital Corp. (APLD) reported a director equity award on a Form 4. On November 9, 2025, a non-employee director acquired 7,747 RSUs at $0. The RSUs convert into common stock on a one-for-one basis and vest in full on November 5, 2026, subject to continued service.

Following the transaction, the reporting person beneficially owned 434,359 shares. This amount includes 28,606 RSUs granted on December 27, 2024, which vest in full on November 20, 2025, subject to continued service.

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

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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^*

HASTINGS CHUCK

(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)
11/09/2025

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	11/09/2025		A		7,747(1)	A	$0	434,359(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. 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.

2. Includes 28,606 RSUs granted on December 27, 2024 to non-employee directors for board service. The RSUs represent a contingent right to receive shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	11/10/2025
	** 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 did APLD disclose in this Form 4?

A non-employee director received 7,747 RSUs on November 9, 2025, converting one-for-one into common stock and vesting on November 5, 2026.

How many shares are beneficially owned after the transaction for APLD?

The reporting person beneficially owned 434,359 shares after the reported transaction.

What are the vesting terms for the new RSUs at APLD?

The 7,747 RSUs vest in full on November 5, 2026, subject to continued service.

Were prior RSU grants included in the APLD totals?

Yes. The total includes 28,606 RSUs granted on December 27, 2024, vesting on November 20, 2025, subject to continued service.

What was the price reported for the RSU acquisition at APLD?

The Form 4 lists a price of $0 for the 7,747 RSUs, consistent with RSU grants awarded for service.

Is the RSU-to-share conversion ratio specified for APLD?

Yes. Each RSU converts into one share of Applied Digital common stock.