Applied Digital director sells 25,000 shares

Applied Digital Corp. director Richard N. Nottenburg reported selling a total of 25,000 shares of common stock in two open-market transactions.

Rhea-AI Filing Summary

Applied Digital Corp. director Richard N. Nottenburg reported selling a total of 25,000 shares of common stock in two open-market transactions. He sold 12,500 shares on April 28, 2026 at $32.00 per share and 12,500 shares on April 30, 2026 at a weighted average price of $34.59 per share, in multiple trades between $34.58 and $34.64.

After these sales, he directly owns 208,378 shares of Applied Digital common stock, which includes 7,747 restricted stock units granted on November 9, 2025 that vest in full on November 5, 2026, subject to his continued board service.

Insider Trade Summary

Net Seller: 25,000 shares

Net Sell 2 txns

Insider Nottenburg Richard N

Role Director

Sold 25,000 shs ($832K)

Type	Security	Shares	Price	Value
Sale	Common Stock	12,500	$34.59	$432K
Sale	Common Stock	12,500	$32.00	$400K

Holdings After Transaction: Common Stock — 208,378 shares (Direct)

Footnotes (2)

1. F1. 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 ("the Company") 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. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.58 to $34.64, inclusive.

Key Figures

Total shares sold: 25,000 shares April 28 sale price: $32.00/share April 30 weighted average price: $34.59/share +2 more

5 metrics

Total shares sold 25,000 shares Two open-market sales in April 2026

April 28 sale price $32.00/share 12,500 shares of common stock

April 30 weighted average price $34.59/share 12,500 shares, trades $34.58–$34.64

Shares owned after transactions 208,378 shares Direct holdings following sales

Restricted stock units 7,747 RSUs Grant to non-employee director, vesting November 5, 2026

Key Terms

restricted stock units ("RSUs"), weighted average price, open-market sale, vesting

4 terms

restricted stock units ("RSUs") financial

"Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025"

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.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

vesting financial

"and vest in full on November 5, 2026, subject to the Reporting Person's continued service"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Applied Digital (APLD) disclose in this Form 4?

Applied Digital reported that director Richard N. Nottenburg sold a total of 25,000 common shares in two open-market transactions, while retaining a substantial remaining direct ownership position in the company’s stock.

How many Applied Digital (APLD) shares did the director sell and at what prices?

Richard N. Nottenburg sold 25,000 shares of Applied Digital common stock: 12,500 shares at $32.00 per share and 12,500 shares at a weighted average price of $34.59, with trades between $34.58 and $34.64.

How many Applied Digital (APLD) shares does the director still hold after the sale?

Following these transactions, Richard N. Nottenburg directly holds 208,378 shares of Applied Digital common stock. This figure reflects his remaining equity stake after selling 25,000 shares across the two reported open-market sales.

What restricted stock units (RSUs) does the Applied Digital (APLD) director have?

His holdings include 7,747 restricted stock units (RSUs) granted on November 9, 2025 to non-employee directors. These RSUs convert one-for-one into common shares and vest in full on November 5, 2026, subject to continued board service.

Were the Applied Digital (APLD) shares sold in a single trade or multiple trades?

The April 30, 2026 sale used a weighted average price of $34.59, reflecting multiple trades between $34.58 and $34.64. This means the 12,500 shares that day were executed across several individual market transactions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/30/2026 - 04:56 PM EDT Learn about SEC filing dates

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^*

Nottenburg Richard N

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

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	04/28/2026		S		12,500	D	$32	220,878(1)	D
Common Stock	04/30/2026		S		12,500	D	$34.59(2)	208,378(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 ("the Company") 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.58 to $34.64, inclusive.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	04/30/2026
	** 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)