Applied Digital president buys 300,000 shares

The reported post-transaction total was 2,839,227 shares and included RSUs subject to vesting conditions.

Rhea-AI Filing Summary

Applied Digital Corp. President Jason Gechen Zhang purchased 300,000 shares of common stock on October 16, 2026, at a weighted average price of $18.86 per share; prices ranged from $18.40 to $19.16. His reported position after the purchase was 2,839,227 shares, with footnotes describing RSUs in that total as subject to vesting conditions. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Buyer: 300,000 shares

Net Buy 1 txn

Insider Zhang Jason Gechen

Role President

Bought 300,000 shs ($5.66M)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1, F2, F3	300,000	$18.86	$5.66M

Holdings After Transaction: Common Stock — 2,839,227 shares (Direct)

Footnotes (3)

1. F1. Constitutes the weighted average purchase price for multiple transactions reported on this line having prices per share ranging from $18.40 to $19.16. The Reporting Person will provide upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding each separate transaction.
2. F2. Includes 500,000 RSU's granted on February 6, 2026 (the "Grant Date") represent a contingent right to receive shares of common stock of Applied Digital Corporation (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 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. F3. Includes the remainder of 750,000 RSUs 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 and have no expiration date. 125,000 of the RSUs shall vest on each of 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 date or accelerated vesting upon certain conditions.

Key Figures

Common shares purchased: 300,000 shares Weighted average purchase price: $18.86 per share Transaction price range: $18.40 to $19.16 per share +3 more

6 metrics

Common shares purchased 300,000 shares October 16, 2026

Weighted average purchase price $18.86 per share Purchase on October 16, 2026

Transaction price range $18.40 to $19.16 per share Prices for the transactions reported on the purchase line

Reported position after purchase 2,839,227 shares After the October 16, 2026 purchase

RSUs granted 500,000 RSUs Grant date February 6, 2026

RSU award referenced 750,000 RSUs Footnote describes the remainder of RSUs granted August 8, 2025

Key Terms

RSUs, weighted average purchase price, Cliff Date

3 terms

RSUs financial

"500,000 RSUs granted on February 6, 2026"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

weighted average purchase price financial

"Constitutes the weighted average purchase price"

The weighted average purchase price is the average cost per share you paid across multiple buys, calculated so larger purchases count more than smaller ones. Imagine buying apples at different prices: the overall price you effectively paid depends on how many apples you bought at each price. Investors use it to measure true cost basis, calculate gains or losses, decide when to sell, and manage taxes and portfolio performance.

Cliff Date financial

"100,000 RSUs on February 6, 2027 (the "Cliff Date")"

FAQ

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

How many APLD shares did Jason Gechen Zhang buy?

Jason Gechen Zhang purchased 300,000 Applied Digital common shares on October 16, 2026, at a weighted average price of $18.86 per share, with prices ranging from $18.40 to $19.16. His reported position after the purchase was 2,839,227 shares, and no Rule 10b5-1 plan is reported.

What vesting terms applied to the RSUs in Jason Gechen Zhang’s APLD holdings?

The footnotes describe 500,000 RSUs granted February 6, 2026: 100,000 vest February 6, 2027, with the remainder vesting in 50,000-RSU installments every six months after that date, subject to continued full-time employment in a Board-approved role or accelerated vesting under certain conditions. They also describe the remainder of 750,000 RSUs granted August 8, 2025, vesting in 125,000-RSU installments on March 12, 2027, September 12, 2027, and March 12, 2028, subject to the stated employment condition or accelerated vesting.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/19/2026 - 07:06 AM EDT Accepted by SEC EDGAR 10/19/2026 - 07:06 AM 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^*

Zhang Jason Gechen

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/16/2026

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	10/16/2026		P		300,000	A	$18.86(1)	2,839,227(2)(3)	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. Constitutes the weighted average purchase price for multiple transactions reported on this line having prices per share ranging from $18.40 to $19.16. The Reporting Person will provide upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding each separate transaction.

2. Includes 500,000 RSU's granted on February 6, 2026 (the "Grant Date") represent a contingent right to receive shares of common stock of Applied Digital Corporation (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 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. Includes the remainder of 750,000 RSUs 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 and have no expiration date. 125,000 of the RSUs shall vest on each of 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 date or accelerated vesting upon certain conditions.

Remarks:

	/s/ Mark Chavez as Attorney-in-Fact	10/19/2026
	** 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)