Applied Digital grants Rachel H. Lee 14,450 stock units

The director’s award vests in full on November 4, 2027, subject to continued service through that date.

Available on EDGAR 11/06/2026 - 08:26 AM EST Accepted by SEC EDGAR 11/06/2026 - 08:26 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Applied Digital Corp. director Rachel H. Lee was granted 14,450 restricted stock units on November 4, 2026. The units have no expiration date, convert into common shares on a one-for-one basis, and vest in full on November 4, 2027, subject to her continued service through that date. Her reported direct position following the transaction was 81,597 shares, including 46,190 shares of restricted stock granted on February 22, 2024.

Insider Trade Summary

Grant/Award: 14,450 shares

Grant/Award 1 txn

Insider Lee Rachel H.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1, F2	14,450	$0.00	$0.00

Holdings After Transaction: Common Stock — 81,597 shares (Direct)

Holdings Before and After: Common Stock, 67,147 to 81,597 shares (Direct)

Footnotes (2)

1. F1. Restricted stock units ("RSUs") granted on November 4, 2026 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 4, 2027, subject to the Reporting Person's continued service through such date.
2. F2. Includes 46,190 shares of restricted stock granted on February 22, 2024 as an initial grant upon initiation of board service. Of these shares, 15,396 vested on February 22, 2025, 15,397 vested on February 22, 2026 and 15,397 will vest on February 22, 2027, subject to the Reporting Person being a director of the Issuer on such date.

Key Figures

RSUs granted: 14,450 units Reported direct position: 81,597 shares Restricted stock in prior grant: 46,190 shares +1 more

4 metrics

RSUs granted 14,450 units Granted November 4, 2026

Reported direct position 81,597 shares Following the November 4, 2026 transaction

Restricted stock in prior grant 46,190 shares Granted February 22, 2024; included in the reported post-transaction amount

Future vesting portion 15,397 shares Scheduled to vest February 22, 2027, subject to continued director service

Key Terms

Restricted stock units, one-for-one basis, vest in full

3 terms

Restricted stock units financial

"Restricted stock units ("RSUs") granted on November 4, 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.

one-for-one basis technical

"convert into shares of common stock of Applied Digital Corporation on a one-for-one basis"

vest in full financial

"vest in full on November 4, 2027"

FAQ

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

How many RSUs did APLD director Rachel H. Lee receive?

Rachel H. Lee was granted 14,450 restricted stock units on November 4, 2026. The units convert into Applied Digital common stock on a one-for-one basis, have no expiration date, and vest in full on November 4, 2027, subject to her continued service through that date.

When do Rachel H. Lee’s previously granted APLD restricted shares vest?

Of the 46,190 restricted shares granted on February 22, 2024, 15,396 vested on February 22, 2025, and 15,397 vested on February 22, 2026. Another 15,397 will vest on February 22, 2027, subject to her being a director on that date.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Lee Rachel H.

(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)
11/04/2026

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	11/04/2026		A		14,450(1)	A	$0	81,597(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 4, 2026 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 4, 2027, subject to the Reporting Person's continued service through such date.

2. Includes 46,190 shares of restricted stock granted on February 22, 2024 as an initial grant upon initiation of board service. Of these shares, 15,396 vested on February 22, 2025, 15,397 vested on February 22, 2026 and 15,397 will vest on February 22, 2027, subject to the Reporting Person being a director of the Issuer on such date.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	11/06/2026
	** 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)