Form 4: Applied Digital Corp. CEO Wes Cummins Reports Stock Transactions
SEC Form 4
Wes Cummins, CEO and Chairman of Applied Digital Corp., reports the vesting of restricted stock units and associated tax withholding.
Summary
- On April 4, 2025, Wes Cummins, CEO and Chairman of Applied Digital Corp., reported transactions involving the company's common stock.
- These transactions included the vesting of 100,000 restricted stock units (RSUs) and the withholding of 29,442 shares for tax purposes related to previously granted RSUs.
- Following these transactions, Cummins directly owns 3,008,837 shares of common stock.
- Cummins also indirectly owns 17,590,238 shares through Cummins Family Ltd. and 1,626,453 shares through 272 Capital, LLC.
- The reported transactions were filed as part of a Form 4, indicating changes in beneficial ownership.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The vesting of RSUs and associated tax withholding may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 04/04/2023 | Date of grant of Restricted Stock Units (RSUs). |
| 04/04/2024 | Vesting date of 200,000 RSUs. |
| 10/04/2024 | Vesting date of 100,000 RSUs. |
| 04/04/2025 | Vesting date of 100,000 RSUs and transaction date for reported transactions. |
| 04/08/2025 | Date of Form 4 filing. |
| 10/04/2025 | Vesting date of 100,000 RSUs. |
| 04/04/2026 | Vesting date of 100,000 RSUs. |
Keywords
Applied Digital Corp, Wes Cummins, stock, ownership, Form 4, RSU, restricted stock units, beneficial ownership
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.