David Rench - Aug 5, 2023 Form 4 Insider Report for Applied Digital Corp. (APLD)

Role: Chief Financial Officer
Signature: David Rench
Stock symbol: APLD
Transactions as of: Aug 5, 2023
Transactions value $: -$79,037
Form type: 4
Date filed: 8/8/2023, 04:09 PM
Previous filing: Apr 4, 2023
Next filing: Feb 6, 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APLD	Common Stock	Options Exercise		+41.7K	+25.1%		208K	Aug 5, 2023	Direct	F1
transaction	APLD	Common Stock	Tax liability	-$79K	-10.1K	-4.89%	$7.79	198K	Aug 5, 2023	Direct	F2

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	-41.7K	-20%	$0.00	167K	Aug 5, 2023	Common Stock	41.7K		Direct	F1, F3
holding	APLD	Restricted Stock Unit						210K	Aug 5, 2023	Common Stock	210K		Direct	F1, F4

* 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	Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.
F3	41,667 RSUs will vest on August 5, 2023, February 5, 2024, February 5, 2025, and August 5, 2025 and 41,666 RSUs will vest on August 5, 2024.
F4	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.