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STOCK TITAN

[Form 4] Applied Digital Corporation Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

On 08/05/2025, Applied Digital Corp. (APLD) CEO, Chairman and 10% owner Wes Cummins filed a Form 4 detailing insider equity activity.

  • RSU conversion (Code M): 83,334 restricted stock units vested and were exchanged one-for-one into common shares; no cash price is stated.
  • Tax withholding (Code F): 32,792 of those shares were retained by the issuer at $14.89 per share to cover payroll taxes—this is not an open-market sale.

After the transactions Cummins directly owns 3,059,379 shares (including 742,166 in his IRA). He also controls 17,590,238 shares via Cummins Family Ltd. and 1,626,453 shares through B. Riley Asset Management, bringing total beneficial ownership to roughly 22.3 million shares and preserving his >10 % insider status.

No derivative securities remain outstanding from the 08/05/2022 RSU grant. The filing reports no open-market purchases or sales aside from the automatic tax withholding.

Il 08/05/2025, Wes Cummins, CEO, Presidente e proprietario del 10% di Applied Digital Corp. (APLD), ha presentato un Modulo 4 che dettaglia l'attività interna sulle azioni.

  • Conversione RSU (Codice M): 83.334 unità di azioni vincolate sono maturate e sono state convertite una a una in azioni ordinarie; non è indicato alcun prezzo in contanti.
  • Ritenuta fiscale (Codice F): 32.792 di queste azioni sono state trattenute dall'emittente a 14,89 $ per azione per coprire le imposte sul reddito da lavoro dipendente—non si tratta di una vendita sul mercato aperto.

Dopo queste operazioni, Cummins possiede direttamente 3.059.379 azioni (di cui 742.166 nel suo IRA). Controlla inoltre 17.590.238 azioni tramite Cummins Family Ltd. e 1.626.453 azioni attraverso B. Riley Asset Management, portando la proprietà totale a circa 22,3 milioni di azioni e mantenendo il suo status di insider con oltre il 10%.

Non rimangono titoli derivati in circolazione dal grant RSU del 08/05/2022. La dichiarazione non riporta acquisti o vendite sul mercato aperto, fatta eccezione per la ritenuta fiscale automatica.

El 08/05/2025, Wes Cummins, CEO, Presidente y propietario del 10% de Applied Digital Corp. (APLD), presentó un Formulario 4 detallando la actividad interna de acciones.

  • Conversión de RSU (Código M): 83,334 unidades restringidas de acciones se consolidaron y fueron intercambiadas una por una por acciones comunes; no se indica precio en efectivo.
  • Retención fiscal (Código F): 32,792 de esas acciones fueron retenidas por el emisor a $14.89 por acción para cubrir impuestos sobre la nómina—esto no es una venta en el mercado abierto.

Después de las transacciones, Cummins posee directamente 3,059,379 acciones (incluyendo 742,166 en su IRA). También controla 17,590,238 acciones a través de Cummins Family Ltd. y 1,626,453 acciones mediante B. Riley Asset Management, sumando una propiedad total aproximada de 22.3 millones de acciones y manteniendo su estatus de insider con más del 10%.

No quedan valores derivados pendientes del otorgamiento de RSU del 08/05/2022. La presentación no reporta compras o ventas en mercado abierto aparte de la retención automática de impuestos.

2025ë…� 8ì›� 5ì�, Applied Digital Corp.(APLD)ì� CEOì´ìž 회장, 10% ì§€ë¶� 보유ìžì¸ Wes Cumminsê°€ ë‚´ë¶€ìž� ì£¼ì‹ ê±°ëž˜ ë‚´ì—­ì� ìƒì„¸íž� 기ë¡í•� Form 4ë¥� 제출했습니다.

  • RSU 전환 (코드 M): 83,334ê°œì˜ ì œí•œì£¼ì‹ë‹¨ìœ„(RSU)ê°€ 성숙ë˜ì–´ 1:1 비율ë¡� 보통주로 êµí™˜ë˜ì—ˆìœ¼ë©°, 현금 ê°€ê²©ì€ ëª…ì‹œë˜ì§€ 않았습니ë‹�.
  • 세금 ì›ì²œì§•수 (코드 F): ì� ì¤� 32,792주는 급여세를 충당하기 위해 발행ìžê°€ 주당 $14.89ì—� 보유하였으며, ì´ëŠ” 공개 시장ì—서ì� 매ë„ê°€ 아닙니다.

거래 í›� CumminsëŠ� ì§ì ‘ 3,059,379ì£�ë¥� 보유하고 있으ë©�(ì� ì¤� 742,166주는 IRA 계좌ì—� 있ìŒ), ë˜í•œ Cummins Family Ltd.ë¥� 통해 17,590,238ì£�ì™¶Ä B. Riley Asset Managementë¥� 통해 1,626,453ì£�ë¥� 통제하여 ì´� ì•� 2,230ë§� 주를 보유하며 10% ì´ìƒì� ë‚´ë¶€ìž� ì§€ë¶� ìƒíƒœë¥� 유지하고 있습니다.

2022ë…� 8ì›� 5ì� RSU 부여로부í„� 파ìƒë� ì¦ê¶Œì€ 남아 있지 않습니다. 제출 서류ì—는 ìžë™ 세금 ì›ì²œì§•수 ì™¸ì— ê³µê°œ 시장ì—서ì� 매수ë‚� 매ë„ê°€ ë³´ê³ ë˜ì§€ 않았습니ë‹�.

Le 08/05/2025, Wes Cummins, PDG, président et détenteur de 10 % d'Applied Digital Corp. (APLD), a déposé un formulaire 4 détaillant l'activité d'initiés sur les actions.

  • Conversion RSU (Code M) : 83 334 unités d'actions restreintes sont devenues acquises et ont été échangées une par une contre des actions ordinaires ; aucun prix en espèces n'est indiqué.
  • Retenue fiscale (Code F) : 32 792 de ces actions ont été retenues par l'émetteur au prix de 14,89 $ par action pour couvrir les impôts sur les salaires—ceci n'est pas une vente sur le marché libre.

Après ces opérations, Cummins possède directement 3 059 379 actions (dont 742 166 dans son IRA). Il contrôle également 17 590 238 actions via Cummins Family Ltd. et 1 626 453 actions par l'intermédiaire de B. Riley Asset Management, portant la propriété totale à environ 22,3 millions d'actions et conservant son statut d'initié supérieur à 10 %.

Aucun titre dérivé n'est en circulation à partir de l'attribution RSU du 08/05/2022. Le dépôt ne rapporte aucun achat ou vente sur le marché libre en dehors de la retenue fiscale automatique.

Am 08.05.2025 reichte Wes Cummins, CEO, Vorsitzender und 10%-Eigentümer von Applied Digital Corp. (APLD), ein Formular 4 ein, das Insider-Aktienaktivitäten detailliert darlegt.

  • RSU-Umwandlung (Code M): 83.334 Restricted Stock Units sind fällig geworden und wurden eins zu eins in Stammaktien getauscht; kein Barpreis angegeben.
  • Steuerliche Einbehaltung (Code F): 32.792 dieser Aktien wurden vom Emittenten zu je 14,89 $ einbehalten, um Lohnsteuern abzudecken—dies ist kein Verkauf am offenen Markt.

Nach den Transaktionen besitzt Cummins direkt 3.059.379 Aktien (davon 742.166 in seinem IRA). Er kontrolliert außerdem 17.590.238 Aktien über Cummins Family Ltd. und 1.626.453 Aktien über B. Riley Asset Management, was eine Gesamtbeteiligung von rund 22,3 Millionen Aktien ergibt und seinen Insider-Status von über 10 % bewahrt.

Es sind keine derivativen Wertpapiere aus der RSU-Zuteilung vom 08.05.2022 mehr ausstehend. Die Einreichung meldet keine Käufe oder Verkäufe am offenen Markt abgesehen von der automatischen Steuerabführung.

Positive
  • 83,334 shares acquired via RSU conversion, lifting direct holdings to 3.06 million.
  • Aggregate beneficial ownership exceeds 22 million shares, maintaining strong insider alignment.
Negative
  • 32,792 shares withheld for taxes at $14.89, slightly reducing net shares received.

Insights

TL;DR: CEO converts 83k RSUs, nets ~50k shares; still controls ~22 M shares; no market sale—overall neutral.

The filing shows routine vesting of a 2022 RSU grant. Although 32,792 shares were withheld for taxes, Cummins� direct stake increased to 3.06 M shares and his aggregate holding remains >22 M. No shares were sold on the open market, limiting supply pressure. Because the transactions were predetermined and tax-related, they do not materially alter Applied Digital’s ownership dynamics or signal a change in management sentiment. I view the impact on share price and governance as neutral.

TL;DR: Standard RSU vest, tax withholding; ownership concentration unchanged; governance risk steady.

Cummins retains a significant controlling position, directly and through affiliated entities, which can streamline decision-making but also concentrates voting power. The absence of market sales suggests alignment with long-term shareholder interests, but the outsized influence persists. From a governance standpoint, the transaction neither improves nor deteriorates shareholder protections; therefore, the disclosure is not impactful.

Il 08/05/2025, Wes Cummins, CEO, Presidente e proprietario del 10% di Applied Digital Corp. (APLD), ha presentato un Modulo 4 che dettaglia l'attività interna sulle azioni.

  • Conversione RSU (Codice M): 83.334 unità di azioni vincolate sono maturate e sono state convertite una a una in azioni ordinarie; non è indicato alcun prezzo in contanti.
  • Ritenuta fiscale (Codice F): 32.792 di queste azioni sono state trattenute dall'emittente a 14,89 $ per azione per coprire le imposte sul reddito da lavoro dipendente—non si tratta di una vendita sul mercato aperto.

Dopo queste operazioni, Cummins possiede direttamente 3.059.379 azioni (di cui 742.166 nel suo IRA). Controlla inoltre 17.590.238 azioni tramite Cummins Family Ltd. e 1.626.453 azioni attraverso B. Riley Asset Management, portando la proprietà totale a circa 22,3 milioni di azioni e mantenendo il suo status di insider con oltre il 10%.

Non rimangono titoli derivati in circolazione dal grant RSU del 08/05/2022. La dichiarazione non riporta acquisti o vendite sul mercato aperto, fatta eccezione per la ritenuta fiscale automatica.

El 08/05/2025, Wes Cummins, CEO, Presidente y propietario del 10% de Applied Digital Corp. (APLD), presentó un Formulario 4 detallando la actividad interna de acciones.

  • Conversión de RSU (Código M): 83,334 unidades restringidas de acciones se consolidaron y fueron intercambiadas una por una por acciones comunes; no se indica precio en efectivo.
  • Retención fiscal (Código F): 32,792 de esas acciones fueron retenidas por el emisor a $14.89 por acción para cubrir impuestos sobre la nómina—esto no es una venta en el mercado abierto.

Después de las transacciones, Cummins posee directamente 3,059,379 acciones (incluyendo 742,166 en su IRA). También controla 17,590,238 acciones a través de Cummins Family Ltd. y 1,626,453 acciones mediante B. Riley Asset Management, sumando una propiedad total aproximada de 22.3 millones de acciones y manteniendo su estatus de insider con más del 10%.

No quedan valores derivados pendientes del otorgamiento de RSU del 08/05/2022. La presentación no reporta compras o ventas en mercado abierto aparte de la retención automática de impuestos.

2025ë…� 8ì›� 5ì�, Applied Digital Corp.(APLD)ì� CEOì´ìž 회장, 10% ì§€ë¶� 보유ìžì¸ Wes Cumminsê°€ ë‚´ë¶€ìž� ì£¼ì‹ ê±°ëž˜ ë‚´ì—­ì� ìƒì„¸íž� 기ë¡í•� Form 4ë¥� 제출했습니다.

  • RSU 전환 (코드 M): 83,334ê°œì˜ ì œí•œì£¼ì‹ë‹¨ìœ„(RSU)ê°€ 성숙ë˜ì–´ 1:1 비율ë¡� 보통주로 êµí™˜ë˜ì—ˆìœ¼ë©°, 현금 ê°€ê²©ì€ ëª…ì‹œë˜ì§€ 않았습니ë‹�.
  • 세금 ì›ì²œì§•수 (코드 F): ì� ì¤� 32,792주는 급여세를 충당하기 위해 발행ìžê°€ 주당 $14.89ì—� 보유하였으며, ì´ëŠ” 공개 시장ì—서ì� 매ë„ê°€ 아닙니다.

거래 í›� CumminsëŠ� ì§ì ‘ 3,059,379ì£�ë¥� 보유하고 있으ë©�(ì� ì¤� 742,166주는 IRA 계좌ì—� 있ìŒ), ë˜í•œ Cummins Family Ltd.ë¥� 통해 17,590,238ì£�ì™¶Ä B. Riley Asset Managementë¥� 통해 1,626,453ì£�ë¥� 통제하여 ì´� ì•� 2,230ë§� 주를 보유하며 10% ì´ìƒì� ë‚´ë¶€ìž� ì§€ë¶� ìƒíƒœë¥� 유지하고 있습니다.

2022ë…� 8ì›� 5ì� RSU 부여로부í„� 파ìƒë� ì¦ê¶Œì€ 남아 있지 않습니다. 제출 서류ì—는 ìžë™ 세금 ì›ì²œì§•수 ì™¸ì— ê³µê°œ 시장ì—서ì� 매수ë‚� 매ë„ê°€ ë³´ê³ ë˜ì§€ 않았습니ë‹�.

Le 08/05/2025, Wes Cummins, PDG, président et détenteur de 10 % d'Applied Digital Corp. (APLD), a déposé un formulaire 4 détaillant l'activité d'initiés sur les actions.

  • Conversion RSU (Code M) : 83 334 unités d'actions restreintes sont devenues acquises et ont été échangées une par une contre des actions ordinaires ; aucun prix en espèces n'est indiqué.
  • Retenue fiscale (Code F) : 32 792 de ces actions ont été retenues par l'émetteur au prix de 14,89 $ par action pour couvrir les impôts sur les salaires—ceci n'est pas une vente sur le marché libre.

Après ces opérations, Cummins possède directement 3 059 379 actions (dont 742 166 dans son IRA). Il contrôle également 17 590 238 actions via Cummins Family Ltd. et 1 626 453 actions par l'intermédiaire de B. Riley Asset Management, portant la propriété totale à environ 22,3 millions d'actions et conservant son statut d'initié supérieur à 10 %.

Aucun titre dérivé n'est en circulation à partir de l'attribution RSU du 08/05/2022. Le dépôt ne rapporte aucun achat ou vente sur le marché libre en dehors de la retenue fiscale automatique.

Am 08.05.2025 reichte Wes Cummins, CEO, Vorsitzender und 10%-Eigentümer von Applied Digital Corp. (APLD), ein Formular 4 ein, das Insider-Aktienaktivitäten detailliert darlegt.

  • RSU-Umwandlung (Code M): 83.334 Restricted Stock Units sind fällig geworden und wurden eins zu eins in Stammaktien getauscht; kein Barpreis angegeben.
  • Steuerliche Einbehaltung (Code F): 32.792 dieser Aktien wurden vom Emittenten zu je 14,89 $ einbehalten, um Lohnsteuern abzudecken—dies ist kein Verkauf am offenen Markt.

Nach den Transaktionen besitzt Cummins direkt 3.059.379 Aktien (davon 742.166 in seinem IRA). Er kontrolliert außerdem 17.590.238 Aktien über Cummins Family Ltd. und 1.626.453 Aktien über B. Riley Asset Management, was eine Gesamtbeteiligung von rund 22,3 Millionen Aktien ergibt und seinen Insider-Status von über 10 % bewahrt.

Es sind keine derivativen Wertpapiere aus der RSU-Zuteilung vom 08.05.2022 mehr ausstehend. Die Einreichung meldet keine Käufe oder Verkäufe am offenen Markt abgesehen von der automatischen Steuerabführung.

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 TX 75219

(City) (State) (Zip)
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 X 10% Owner
X Officer (give title below) Other (specify below)
CEO; Chairman
3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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 08/05/2025 M 83,334 A (1) 3,092,171(2) D
Common Stock 08/05/2025 F 32,792(3) D $14.89 3,059,379 D
Common Stock 17,590,238 I See Footnote.(4)
Common Stock 1,626,453 I See Footnote(5)
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
Restricted Stock Unit (1) 08/05/2025 M 83,334 (1) (1) Common Stock 83,334 $0 0 D
Explanation of Responses:
1. Restricted stock units ("RSUs") granted on August 5, 2022 represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis. The RSUs have no expiration date and vest as follows: 83,333 on each of February 5, 2023 and August 5, 2023, 83,334 on February 5, 2024, 83,333 on each of August 5, 2024 and February 5, 2025, and 83,334 on August 5, 2025.
2. Includes 742,166 shares held in the Reporting Person's IRA.
3. Represents the withholding of shares of common stock of the Issuer for tax purposes in connection with the vesting of RSUs previously granted, which does not constitute an actual sale or other open market transaction.
4. Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
5. Shares are held by B. Riley Asset Management, LLC, of which the Reporting Person is the President.
Remarks:
/s/ Mark Chavez as Attorney-in-Fact 08/07/2025
** 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.

FAQ

How many Applied Digital (APLD) shares did CEO Wes Cummins acquire on 08/05/2025?

He received 83,334 common shares through the conversion of vested RSUs.

Were any open-market sales reported in this Form 4 filing?

No. The only disposition was 32,792 shares withheld for tax purposes; no market sale occurred.

What is Wes Cummins� direct share ownership after the transaction?

He directly holds 3,059,379 shares, including 742,166 shares in his IRA.

How many shares does Cummins control indirectly?

Cummins holds 17,590,238 shares via Cummins Family Ltd. and 1,626,453 shares through B. Riley Asset Management.

Are any derivative securities remaining from the 2022 RSU grant?

No. The filing shows 0 derivative securities outstanding after the conversion.

What price was applied to shares withheld for taxes?

The issuer used $14.89 per share for the 32,792 shares withheld.
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Information Technology Services
Services-computer Processing & Data Preparation
United States
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