Applied Digital (APLD) president receives 500,000 RSUs in new long-term grant

Rhea-AI Filing Summary

Applied Digital president Zhang Jason Gechen received 500,000 restricted stock units (RSUs) on February 6, 2026. The grant is priced at $0 per share and represents a right to receive an equal number of Applied Digital common shares.

These RSUs have no expiration date and vest over five years: 100,000 RSUs on February 6, 2027, then 50,000 every six months until the fifth anniversary of the grant date, subject to continued full-time employment in a Board-approved role. After this award, Gechen beneficially owns 1,908,165 shares, including 750,000 RSUs granted on August 8, 2025 that vest in tranches between March 12, 2026 and March 12, 2028.

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
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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^*

Zhang Jason Gechen

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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	02/06/2026		A		500,000(1)	A	$0	1,908,165(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 February 6, 2026 (the "Grant Date") represent a contingent right to receive shares of common stock of Applied Digital (the "Company") on a one-for-one basis, have no expiration date, and vest as follows: 100,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 50,000 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, 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.

2. Includes 750,000 RSU's granted on August 8, 2025. The RSUs 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: one-third of the RSU's on March 12, 2026 and one-sixth of the RSUs on September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, 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.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	02/09/2026
	** 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.

FAQ

What insider transaction did Applied Digital (APLD) report for its president?

Applied Digital reported that president Zhang Jason Gechen received 500,000 restricted stock units on February 6, 2026 at $0 per share. These RSUs convert one-for-one into common stock, providing equity-based compensation instead of a cash transaction.

How do Jason Gechen’s new 500,000 RSUs at APLD vest over time?

The 500,000 RSUs vest over five years. 100,000 vest on February 6, 2027, then 50,000 vest every six months after that date, until the five-year anniversary, conditioned on his continued full-time employment in a Board-approved role.

What is Jason Gechen’s total beneficial share ownership after this Form 4?

Following the reported transaction, Jason Gechen beneficially owns 1,908,165 Applied Digital shares. This figure includes the new 500,000 RSUs granted in February 2026 and 750,000 RSUs originally granted on August 8, 2025, plus previously held shares.

What are the terms of the 750,000 RSUs granted to Jason Gechen in August 2025?

The 750,000 RSUs granted August 8, 2025 vest in stages. One-third vests on March 12, 2026, and one-sixth vests on each of September 12, 2026, March 12, 2027, September 12, 2027, and March 12, 2028, subject to continued full-time employment.

Does the new RSU award to APLD’s president have an expiration date?

The 500,000 RSUs granted to Applied Digital’s president have no expiration date. They remain outstanding until they vest and convert into common shares, or are forfeited if vesting conditions tied to his employment are not met.

Is the February 6, 2026 RSU grant to Jason Gechen a cash transaction?

No, the RSU grant is not a cash transaction. The Form 4 shows a price of $0 per share, indicating equity compensation. The RSUs provide a contingent right to receive common stock rather than immediate cash proceeds.