Wes Cummins - Mar 26, 2025 Form 4 Insider Report for Applied Digital Corp. (APLD)

Role
CEO; Chairman, Director, 10%+ Owner
Signature
/s/ Mark Chavez as Attorney-in-Fact
Stock symbol
APLD
Transactions as of
Mar 26, 2025
Transactions value $
$0
Form type
4
Date filed
3/28/2025, 09:00 PM
Previous filing
Feb 7, 2025
Next filing
Apr 8, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction APLD Common Stock Other -1M -25.39% 2.94M Mar 26, 2025 Direct F1, F2
holding APLD Common Stock 17.6M Mar 26, 2025 See Footnote F3
holding APLD Common Stock 1.63M Mar 26, 2025 See Footnote F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to a certain Membership Interest Purchase Agreement (the "Purchase Agreement"), dated March 26, 2025, by and between Lost River, LLC (the "Purchaser"), of which the Reporting Person is a member, and 1334 Partners, L.P. (the "Seller"), an entity which holds 100% of the membership interests in Beacon Partners LLC ("Beacon"), the Reporting Person shall transfer 1,000,000 shares of common stock of Applied Digital Corporation (the "Issuer") on behalf of the Purchaser to the Seller in exchange for 49% of the membership interests of Beacon and a $1,400,000 credit to the Purchaser's pro rata share of operating expenses of Beacon. The closing price of the Issuer's common stock prior to the signing of the Purchase Agreement was $7.44 per share.
F2 Includes 742,166 shares held in the Reporting Person's IRA
F3 Shares are held by Cummins Family Ltd., of which the Reporting Person is the CEO.
F4 Shares are held by 272 Capital, LLC, of which the Reporting Person is the President.