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Applied Digital (NASDAQ: APLD) CFO reports PSU vesting and RSU awards

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

Rhea-AI Filing Summary

Applied Digital Corp. Chief Financial Officer Mohammad Saidal LaVanway reported equity compensation changes. He received 490,000 shares of common stock upon vesting of previously granted performance stock units, while 192,815 shares were withheld to cover taxes, which the filing states is not an open market sale. Following these entries, he directly owns 919,246 common shares and also holds 250,000 restricted stock units that vest over five years starting February 6, 2027.

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Insider Mohmand Mohammad Saidal LaVanway
Role Chief Financial Officer
Type Security Shares Price Value
Grant/Award Common Stock 490,000 $0.00 --
Tax Withholding Common Stock 192,815 $45.20 $8.72M
Holdings After Transaction: Common Stock — 919,246 shares (Direct, null)
Footnotes (1)
  1. Shares received upon the vesting of 490,000 performance stock units ("PSUs") granted on November 15, 2024, which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. Includes 250,000 restricted stock units ("RSUs") granted on February 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, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions. Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of PSUs, which does not constitute an actual sale or other open market transaction.
PSUs vested 490,000 shares Performance stock units granted November 15, 2024 vesting into common stock
Shares withheld for taxes 192,815 shares Withholding for tax obligations on PSU vesting; not an open market sale
Shares owned after transactions 919,246 shares Direct common stock ownership following reported Form 4 entries
RSUs granted 250,000 units Restricted stock units granted February 6, 2026 with five-year vesting schedule
Initial RSU cliff vest 50,000 RSUs Vest on February 6, 2027 before semiannual vesting of remaining RSUs
performance stock units financial
"Shares received upon the vesting of 490,000 performance stock units ("PSUs") granted on November 15, 2024"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
restricted stock units financial
"Includes 250,000 restricted stock units ("RSUs") granted on February 6, 2026"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax-withholding disposition financial
"Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of PSUs"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Mohmand Mohammad Saidal LaVanway
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Financial Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/22/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock06/22/2026A490,000A(1)919,246(2)D
Common Stock06/22/2026F192,815(3)D$45.2726,431(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Shares received upon the vesting of 490,000 performance stock units ("PSUs") granted on November 15, 2024, which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.
2. Includes 250,000 restricted stock units ("RSUs") granted on February 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, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.
3. Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of PSUs, which does not constitute an actual sale or other open market transaction.
Remarks:
/s/ Mark Chavez as Attorney-in-Fact06/24/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did Applied Digital (APLD) CFO report in this Form 4?

The CFO reported vesting of 490,000 performance stock units, resulting in the receipt of common shares. He also holds 250,000 restricted stock units that vest over a five-year period beginning February 6, 2027, subject to continued full-time employment.

Was there an open market sale by the Applied Digital (APLD) CFO in this filing?

No, the filing explains 192,815 shares were withheld to satisfy tax obligations from PSU vesting. It states this withholding “does not constitute an actual sale or other open market transaction,” distinguishing it from discretionary share sales in the market.

How many Applied Digital (APLD) shares does the CFO hold after these transactions?

After the reported transactions, the CFO directly owns 919,246 shares of Applied Digital common stock. In addition, he has 250,000 restricted stock units outstanding, which represent rights to receive an equal number of shares if vesting conditions are met.

How do the CFO’s restricted stock units (RSUs) at Applied Digital (APLD) vest?

The 250,000 RSUs granted February 6, 2026 vest over five years. 50,000 RSUs vest on February 6, 2027, then 25,000 RSUs vest every six months thereafter until fully vested, subject to continued full-time employment in a board-approved role or certain acceleration conditions.

What are performance stock units (PSUs) mentioned in the Applied Digital (APLD) Form 4?

The PSUs were granted November 15, 2024 and represented a contingent right to receive common shares on a one-for-one basis. In this filing, 490,000 PSUs vested and converted into shares of Applied Digital common stock for the Chief Financial Officer.