Form 4: Applied Digital CFO Exercises RSUs, Shares Withheld for Tax

Applied Digital's Chief Financial Officer, Mohammad Saidal LaVanway, exercised restricted stock units and subsequently had shares withheld for tax obligations.

Summary

• Mohammad Saidal LaVanway, Chief Financial Officer of Applied Digital Corp., acquired a total of 94,167 shares of common stock through the vesting of Restricted Stock Units (RSUs) on October 4, 2025.
• This total includes 81,667 shares from an RSU grant dated October 17, 2024, and 12,500 shares from an RSU grant dated April 4, 2023.
• In connection with these vesting events, 37,055 shares of common stock were withheld by the Issuer for tax purposes at a price of $26.53 per share.
• Following these transactions, the CFO's direct beneficial ownership of Applied Digital Corp. common stock stands at 258,912 shares.
• The CFO also beneficially owns 339,167 unvested Restricted Stock Units (326,667 from the October 2024 grant and 12,500 from the April 2023 grant).

Sentiment

Score: 7

Explanation: The filing reports a routine executive compensation event (RSU vesting) which is generally positive for executive alignment but does not indicate any significant operational or financial changes for the company. The tax withholding is a standard part of such transactions.

Positives

• The vesting of Restricted Stock Units represents a realization of executive compensation, aligning the CFO's interests with shareholder value.
• The CFO's continued beneficial ownership of a significant number of common shares and unvested RSUs demonstrates ongoing commitment to the company.

Negatives

• A portion of the vested shares, totaling 37,055, was withheld for tax purposes, reducing the net shares received by the CFO.

Future Outlook

The filing outlines a schedule for future RSU vesting events, indicating continued executive compensation through equity over the next two years, subject to continued employment.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically the vesting of executive compensation. It does not provide information related to broader industry trends or competitive positioning.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: Minor positive impact due to continued executive alignment with company performance through equity ownership. No direct impact on company operations or financial health.
• Employees, Customers, Suppliers, Creditors: No direct impact from this routine executive compensation filing.

Next Steps

• April 4, 2026: Scheduled vesting of 81,667 RSUs from the October 2024 grant and 12,500 RSUs from the April 2023 grant.
• October 4, 2026: Scheduled vesting of 81,666 RSUs from the October 2024 grant.
• April 4, 2027: Scheduled vesting of 81,667 RSUs from the October 2024 grant.
• October 4, 2027: Scheduled vesting of 81,667 RSUs from the October 2024 grant.

Key Dates

Recommendation

This Form 4 reports a routine vesting and tax withholding event for the CFO's restricted stock units. It does not indicate any fundamental change in the company's operations, financial health, or strategic direction that would warrant a change in investment recommendation. It primarily reflects executive compensation structure and alignment, which is a neutral factor for immediate stock price movement.

Keywords

Applied Digital, APLD, Form 4, Restricted Stock Units, RSU, stock vesting, insider transaction, CFO, executive compensation