Wes Cummins - Feb 5, 2024 Form 4 Insider Report for Applied Digital Corp. (APLD)

Role: CEO; Chairman, Director, 10%+ Owner
Signature: /s/ David Rench as Attorney-in-Fact
Stock symbol: APLD
Transactions as of: Feb 5, 2024
Transactions value $: -$92,459
Form type: 4
Date filed: 2/6/2024, 04:51 PM
Previous filing: Aug 8, 2023
Next filing: Apr 8, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APLD	Common Stock	Options Exercise		+83.3K	+2.22%		3.84M	Feb 5, 2024	Direct	F1, F2
transaction	APLD	Common Stock	Tax liability	-$92.5K	-21.7K	-0.57%	$4.26	3.81M	Feb 5, 2024	Direct	F3
holding	APLD	Common Stock						17.6M	Feb 5, 2024	See Footnote.	F4
holding	APLD	Common Stock						2.03M	Feb 5, 2024	See Footnote	F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	APLD	Restricted Stock Unit	Options Exercise	$0	-83.3K	-25%	$0.00	250K	Feb 5, 2024	Common Stock	83.3K		Direct	F1, F6
holding	APLD	Restricted Stock Unit						600K	Feb 5, 2024	Common Stock	600K		Direct	F1, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
F2	Includes 742,166 shares held in the Reporting Person's IRA.
F3	Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person
F4	Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
F5	Shares are held by B. Riley Asset Management, LLC, of which the Reporting Person is the President.
F6	83,333 RSUs will vest on August 5, 2024 and February 5, 2025 and 83,334 RSUs will vest on August 5, 2025.
F7	One-third of the RSUs will vest on April 4, 2024, and one-sixth of the RSUs will vest on each of October 4, 2024, April 4, 2025, October 4, 2025 and April 4, 2026.