Applied Digital (APLD) CEO receives 1.6M shares in PSU vesting
Rhea-AI Filing Summary
Applied Digital Corp. CEO and Chairman Wes Cummins reported several equity events. On July 31, 2026 he received 1,600,000 shares of common stock upon vesting of PSUs granted March 27, 2025, and the company withheld 629,600 shares at $27.39 to cover related tax obligations. The report also notes 1,500,000 RSUs granted January 6, 2026 with a multi‑year vesting schedule, 742,166 shares held in his IRA, and an August 4, 2026 distribution of 714,685 shares by 272 Capital LP, where he served as President, classified as an “other acquisition or disposition” rather than an open‑market trade.
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Insights
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Insider Trade Summary
Net Buyer: 255,715 shares
Net Buy
4 txns
Insider
Cummins Wes
Role
CEO; Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock F6, F7, F8 | 714,685 | -- | -- |
| Grant/Award | Common Stock F1, F2, F3 | 1,600,000 | -- | -- |
| Tax Withholding | Common Stock F4, F2, F3 | 629,600 | $27.39 | $17.24M |
| holding | Common Stock F5 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 5,758,000 shares (Direct);
Common Stock — 17,603,036 shares (Indirect, See Footnote)
Footnotes (8)
- F1. Shares received upon the vesting of 1,600,000 performance stock units ("PSUs") granted on March 27, 2025, which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.
- F2. Includes 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 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, subject to continued full-time employment in a role approved by the Board of Directors of the Company through such date or accelerated vesting upon certain conditions.
- F3. Includes 742,166 shares held in the Reporting Person's IRA.
- F4. Represents the withholding of shares of common stock the Company for tax purposes in connection with the vesting of PSUs, which does not constitute an actual sale or other open market transaction.
- F5. Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
- F6. Represents a distribution of shares of 272 Capital, LP ("272 Capital") of which the Reporting Person was President.
- F7. Prior Section 16 filings of the Reporting Person inadvertently omitted 5,000 shares held by 272 Capital due to an administrative error. This error is corrected herein and does not reflect an additional reportable transaction.
- F8. Shares are held by 272 Capital, of which the Reporting Person was the President.
Key Figures
PSU vesting shares: 1,600,000 shares
Tax withholding shares: 629,600 shares
Tax withholding price: $27.39 per share
+4 more
7 metrics
PSU vesting shares
1,600,000 shares
Shares received upon vesting of PSUs granted March 27, 2025
Tax withholding shares
629,600 shares
Shares withheld for taxes on PSU vesting at $27.39 per share
Tax withholding price
$27.39 per share
Price applied to 629,600 shares withheld for tax purposes
RSUs granted
1,500,000 RSUs
Restricted stock units granted January 6, 2026 with multi‑year vesting
IRA holdings
742,166 shares
Shares of Applied Digital held in the reporting person’s IRA
272 Capital distribution
714,685 shares
Shares involved in an August 4, 2026 distribution by 272 Capital LP
Previously omitted shares
5,000 shares
Shares earlier omitted from Section 16 reports due to administrative error
Key Terms
performance stock units ("PSUs"), restricted stock units ("RSUs"), withholding of shares, distribution of shares, +1 more
5 terms
performance stock units ("PSUs") financial
"Shares received upon the vesting of 1,600,000 performance stock units ("PSUs") granted"
restricted stock units ("RSUs") financial
"Includes 1,500,000 restricted stock units ("RSUs") granted on January 6, 2026"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Section 16 filings regulatory
"Prior Section 16 filings of the Reporting Person inadvertently omitted 5,000 shares"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider equity events did APLD CEO Wes Cummins report?
Wes Cummins reported vesting of 1,600,000 PSUs into common shares, tax withholding of 629,600 shares at $27.39 per share, and an 714,685-share distribution by 272 Capital LP, alongside disclosures of RSU awards and IRA share holdings.
How many PSUs vested for APLD’s CEO and when were they granted?
Cummins received 1,600,000 shares upon vesting of performance stock units. These PSUs were granted on March 27, 2025 and converted to Applied Digital common stock on a one‑for‑one basis, increasing his directly held share position before tax withholding.
What RSU grants and IRA holdings does the APLD Form 4 disclose?
The filing notes 1,500,000 RSUs granted on January 6, 2026, vesting over several years after an initial cliff, plus 742,166 shares held in Cummins’ IRA. These figures are included in his reported post‑transaction beneficial ownership.
Did the APLD Form 4 correct any prior reporting errors?
Yes. A footnote states prior Section 16 reports inadvertently omitted 5,000 shares held by 272 Capital due to an administrative error. This Form 4 corrects that omission and clarifies it “does not reflect an additional reportable transaction.”