SEC Form 4 · accession 0001628280-26-045215
Applied Digital Corp. · APLD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Wes Cummins
Officer — CEO; Chairman · Director
Period of report
Jun 22, 2026
Accepted (ET)
Jun 24, 2026 · 4:37 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001144879
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Jun 22, 2026 | A | 800,000 | — | A | 5,102,400 | D | |
| Common StockF4,F2,F3 | Jun 22, 2026 | F | 314,800 | $45.20 | D | 4,787,600 | D | |
| Common StockF5 | holding | — | — | — | 17,590,238 | I | See Footnote. | |
| Common StockF6 | holding | — | — | — | 722,483 | I | See Footnote |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares received upon the vesting of 800,000 performance stock units ("PSUs") granted on November 15, 2024, which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.
- F2Includes 742,166 shares held in the Report Person's IRA.
- F3Includes 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.
- F4Represents the withholding of shares of common stock the Company for tax purposes in connection with the vesting of PSUs, which does not constitute an actual sale or other open market transaction.
- F5Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
- F6Shares are held by 272 Capital, of which the Reporting Person was the President.