Welcome to our dedicated page for Applied Digital SEC filings (Ticker: APLD), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Applied Digital Corporation (APLD) SEC filings page on Stock Titan provides direct access to the company’s regulatory disclosures, along with AI-powered summaries that help explain key documents. Applied Digital is a Nevada-incorporated data processing and hosting company that designs, builds, and operates high-performance data centers and colocation services for AI, cloud, networking, and blockchain workloads, and its filings offer detailed insight into how it finances and governs these operations.
Investors can review Applied Digital’s Form 8-K current reports describing material events such as the completion of a $2.35 billion 9.25% senior secured notes offering due 2030 through its subsidiary APLD ComputeCo LLC, the related Indenture and covenants, and the intended use of proceeds for the ELN-02 and ELN-03 data centers at the 400 MW Polaris Forge 1 campus. Other 8-K filings outline preferred equity arrangements with Macquarie Asset Management to fund AI Factory campuses, amendments to the company’s Articles of Incorporation and preferred stock designations, and equity incentive plan changes.
Through this page, users can also locate filings that discuss Applied Digital’s financing framework for its Polaris Forge 1 and Polaris Forge 2 AI Factory campuses, including preferred equity purchase agreements, unit purchase agreements, and revolving credit facilities. Governance-related filings cover matters such as annual meeting voting results, equity plan amendments, and changes to authorized share counts.
Stock Titan enhances these filings with AI-generated summaries that highlight important terms, covenants, and risk factors, helping readers interpret lengthy documents like Indentures, preferred equity agreements, and registration-related disclosures. Users can quickly identify information about Applied Digital’s debt obligations, preferred equity structures, potential dilution from warrants or convertible securities, and other capital structure details, while still having access to the full text filed with the SEC.
A shareholder of the issuer plans to sell 165,000 shares of common stock under Rule 144 through Morgan Stanley Smith Barney LLC on the NASDAQ exchange. The planned sale has an aggregate market value of $6,009,052.50, based on the figures provided, and is scheduled for approximately January 16, 2026. The filing notes that there were 279,585,823 shares of this class outstanding.
The shares to be sold were acquired as restricted stock from the issuer in two grants: 43,700 shares on October 4, 2024 and 121,300 shares on October 10, 2025, with payment described as not applicable, consistent with equity awards rather than cash purchases. The person on whose behalf the sale is made represents that they are not aware of undisclosed material adverse information about the issuer’s current or future operations.
Applied Digital Corporation reported a management change as its board approved the transition of co-founder and Chief Strategy Officer Jason Zhang to the role of President and Co-Founder, effective January 14, 2026. He will continue to work closely with Chairman and CEO Wes Cummins.
The company amended Zhang’s existing employment agreement so he will serve as President with an annual base salary of $700,000, subject to annual review. The filing notes he has no related-party transactions requiring disclosure and no family relationships with directors or executive officers. Applied Digital also issued a press release on January 15, 2026 announcing his appointment.
Applied Digital Corp. director Richard N. Nottenburg reported open-market sales of company stock. On January 14, 2026, he sold 11,606 shares of common stock at a weighted average price of $35.28 per share. On January 15, 2026, he sold an additional 12,000 shares at a weighted average price of $35.45 per share. After these transactions, he directly beneficially owned 233,378 shares of common stock.
This holding includes 7,747 restricted stock units granted on November 9, 2025 to non-employee directors, which vest in full on November 5, 2026, and 200,000 restricted stock units granted on May 13, 2024 in connection with his role as Chairman of the Board of Directors of Applied Digital Cloud Corporation, vesting in two equal installments on May 13, 2026 and May 13, 2027, subject to continued service.
Richard N. Nottenburg filed a Rule 144 notice to sell 12,000 shares of common stock. The shares are to be sold through Morgan Stanley Smith Barney LLC Executive Financial Services, with an aggregate market value of $425,406.00, and an approximate sale date of 01/15/2026 on the NASDAQ exchange. The filing states that 279,585,823 shares of the issuer’s common stock are outstanding.
The 12,000 shares being sold were acquired on 11/20/2025 as restricted stock from the issuer, with the same date listed for payment and the nature of payment noted as not applicable. The notice also lists recent sales over the past three months by Nottenburg, including 34,375 common shares sold on 10/24/2025 for $1,142,281.25 and 11,606 shares on 01/14/2026 for $409,481.73. By signing, the seller represents that he is not aware of undisclosed material adverse information about the issuer.
Applied Digital Corp. director Douglas S. Miller reported selling 10,000 shares of common stock on January 12, 2026 at a price of $38.54 per share. After this sale, he beneficially owns 200,859 shares of the company’s stock.
This total includes 7,747 restricted stock units (RSUs) that were granted on November 9, 2025 for board service. These RSUs convert into common shares on a one-for-one basis, have no expiration date, and are scheduled to vest in full on November 5, 2026, assuming Miller continues his service as a director through that date.
Richard N. Nottenburg has filed a Rule 144 notice to sell up to 11,606 shares of the issuer’s common stock through Morgan Stanley Smith Barney, with an aggregate market value of $409,481.73. The shares are listed as part of a class with 279,585,823 common shares outstanding and are expected to be sold on or about 01/14/2026 on the NASDAQ.
The 11,606 shares to be sold were acquired as restricted stock from the issuer on 11/20/2025. Over the prior three months, Nottenburg has already sold common shares of the same issuer on several dates: 9,375 shares on 10/31/2025 for $336,626.25, 5,000 shares on 10/30/2025 for $173,992.00, and 34,375 shares on 10/24/2025 for $1,142,281.25.
A Form 144 notice reports a planned sale of 10,000 shares of common stock of APLD through Morgan Stanley Smith Barney LLC Executive Financial Services. The shares have an indicated aggregate market value of 385,410.00, with 279,585,823 shares of the same class shown as outstanding and an approximate sale date of 01/12/2026 on the NASDAQ.
The shares to be sold were acquired on 11/09/2024 via restricted stock vesting under a registered plan, in an amount of 10,000 shares. The notice also lists a prior sale in the last three months, where Douglas Miller sold 8,000 common shares on 11/28/2025 for gross proceeds of 215,840.00.
Applied Digital Corp. reported new equity awards for CEO and Chairman Wes Cummins. On January 6, 2026, he received 1,500,000 restricted stock units that convert into common stock on a one-for-one basis at a price of $0. These RSUs vest with 300,000 units on January 6, 2027, and the remaining units in 150,000-unit installments every six months so that all RSUs vest by the fifth anniversary of the grant, subject to continued full-time employment or certain acceleration conditions.
Cummins also received 4,500,000 performance stock units at $0, vesting in three equal tranches over five years. Each tranche requires the company’s average closing stock price to reach $50, $75, and $100, respectively, over a 90 consecutive day period, along with continued employment or specified post-termination conditions. Following these grants, he beneficially owns 4,341,329 common shares directly (including shares and prior RSUs described in the footnotes) and additional indirect holdings of 17,590,238 and 722,483 common shares through Cummins Family Ltd. and 272 Capital, LP.
Applied Digital Corporation reported sharp growth and major balance sheet changes for the quarter ended November 30, 2025. Total revenue rose to $126.6M from $36.2M a year earlier, driven largely by hosting contracts concentrated in two customers, with Customer A representing 67% and Customer B 33% of quarterly revenue. Despite the growth, the company posted a net loss attributable to common stockholders of $19.1M, improved from a loss of $139.4M in the prior-year quarter.
Cash, cash equivalents and restricted cash from continuing operations increased to $2.30B as of November 30, 2025, up from $120.9M at May 31, 2025, primarily reflecting financing activity. Total assets reached $5.23B, including substantial investments in property and equipment. Long-term debt rose significantly to $2.59B, mainly from issuing $2.35B of 9.25% Senior Secured Notes due 2030.
The Cloud Services Business, classified as discontinued operations and held for sale, generated net income of $12.1M for the quarter compared with a net loss of $10.4M a year earlier. Operating activities used $97.9M of cash over the six-month period, while investing activities used $818.5M, largely for data center construction, and financing activities provided $3.09B, reflecting new debt, preferred equity, and common stock issuances.
Applied Digital Corp. investor Wesley Cummins reports beneficial ownership of 21,154,050 shares of common stock, representing about 7.6% of the company. He has sole voting and dispositive power over these shares, which are held directly and through Cummins Family Ltd, his individual retirement account, and 272 Capital LP.
On January 6, 2026, he received 1,500,000 restricted stock units and 4,500,000 performance stock units, each convertible into one share of common stock upon vesting. The RSUs vest over five years with an initial one-year cliff, while the PSUs vest in three tranches over five years if average closing stock price hurdles of $50, $75, and $100 are achieved. These new awards are not yet counted in his beneficial ownership because they will not vest within 60 days.