Applied Digital CEO buys 55,803 shares at $18.04

The reported position includes 1,500,000 contingent RSUs and IRA-held shares; indirect holdings are also listed through two entities.

Rhea-AI Filing Summary

Applied Digital Corp. (APLD) CEO and Chairman Wes Cummins purchased 55,803 common shares at $18.04 per share on October 16, 2026. His reported post-transaction position was 5,874,453 shares, including 1,500,000 RSUs and 742,166 shares held in his IRA. No Rule 10b5-1 plan is reported. Separate indirect common-stock holdings are listed through Cummins Family Ltd. and 272 Capital.

Insider Trade Summary

Net Buyer: 55,803 shares

Net Buy 3 txns

Insider Cummins Wes

Role CEO; Chairman

Bought 55,803 shs ($1.01M)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1, F2	55,803	$18.04	$1.01M
holding	Common Stock F3	--	--	--
holding	Common Stock F4	--	--	--

Holdings After Transaction: Common Stock — 5,874,453 shares (Direct); Common Stock — 17,603,036 shares (Indirect, See Footnote)

Footnotes (4)

1. F1. Includes 1,500,000 restricted stock units ("RSUs") granted on January 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, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 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, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.
2. F2. Includes 742,166 shares held in the Report Person's IRA.
3. F3. Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
4. F4. Shares are held by 272 Capital, of which the Reporting Person was the President.

Key Figures

Common shares purchased: 55,803 shares Purchase price: $18.04 per share Reported post-transaction position: 5,874,453 shares +4 more

7 metrics

Common shares purchased 55,803 shares October 16, 2026

Purchase price $18.04 per share October 16, 2026

Reported post-transaction position 5,874,453 shares Includes RSUs and shares held in the reporting person's IRA

Restricted stock units 1,500,000 RSUs Granted January 6, 2026; included in the reported post-transaction position

IRA-held shares 742,166 shares Included in the reported post-transaction position

Initial RSU vesting 300,000 RSUs Vest January 6, 2027

Subsequent RSU installments 150,000 RSUs Equal installments every six months after January 6, 2027

Key Terms

restricted stock units, Cliff Date, one-for-one basis, accelerated vesting

4 terms

restricted stock units financial

"1,500,000 restricted stock units ("RSUs")"

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.

Cliff Date financial

"300,000 RSUs on January 6, 2027 (the "Cliff Date")"

one-for-one basis financial

"receive shares of common stock ... on a one-for-one basis"

accelerated vesting financial

"accelerated vesting upon certain conditions"

A contract feature that makes stock awards, options, or restricted shares become owned or exercisable earlier than the original schedule. It shortens or cancels the waiting period so recipients can sell, transfer, or exercise their equity sooner — think of a timed lock that is unlocked ahead of schedule. It matters to investors because it changes when shares enter the market, who controls them, and how much dilution or ownership concentration happens.

FAQ

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

How many APLD shares did CEO Wes Cummins buy, and at what price?

Wes Cummins purchased 55,803 common shares at $18.04 per share on October 16, 2026. His reported post-transaction position was 5,874,453 shares. No Rule 10b5-1 plan is reported.

What are the vesting terms for the RSUs included in Wes Cummins's reported APLD position?

The 1,500,000 RSUs include 300,000 vesting on January 6, 2027, with the remainder vesting in equal installments of 150,000 every six months after that date. They are to be fully vested on the five-year anniversary of the January 6, 2026 grant date, subject to continued full-time employment in a role approved by the Board of Directors or accelerated vesting upon certain conditions.

Which entities are listed for Wes Cummins's indirect APLD holdings?

The indirect common-stock holdings are listed as held by Cummins Family Ltd., of which Wes Cummins is CEO, and 272 Capital, of which he was president.

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

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Available on EDGAR 10/19/2026 - 07:12 AM EDT Accepted by SEC EDGAR 10/19/2026 - 07:11 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^*

Cummins Wes

(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
X	Officer (give title below)		Other (specify below)
	CEO; Chairman

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		55,803	A	$18.04	5,874,453(1)(2)	D
Common Stock								17,590,238	I	See Footnote(3)
Common Stock								12,798	I	See Footnote(4)

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 1,500,000 restricted stock units ("RSUs") granted on January 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, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 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, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.

2. Includes 742,166 shares held in the Report Person's IRA.

3. Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.

4. Shares are held by 272 Capital, of which the Reporting Person was the President.

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)