Form 4: Applied Digital Corp. CFO Reports Stock Transactions Following RSU Vesting
SEC Form 4
Mohammad Saidal LaVanway Mohmand, CFO of Applied Digital Corp., reports the vesting of restricted stock units (RSUs) and associated tax withholding.
Summary
- On February 5, 2025, Mohammad Saidal LaVanway Mohmand, the Chief Financial Officer of Applied Digital Corporation, reported transactions related to the vesting of Restricted Stock Units (RSUs).
- The transactions involved the vesting of 20,833 RSUs granted on August 5, 2022, and another 20,833 RSUs also granted on August 5, 2022.
- Shares were withheld for tax purposes in connection with the vesting of these RSUs, with 5,332 shares withheld at a price of $8.1 and 5,073 shares withheld at a price of $8.1.
- Following these transactions, Mohmand directly owns 180,294 shares of Applied Digital Corp. common stock.
- A power of attorney was executed on February 7, 2025, appointing Wes Cummins and Mark Chavez as attorneys-in-fact to handle SEC filings.
Sentiment
Score: 7
Explanation: The document is a standard SEC filing related to executive compensation. It is neutral in tone and reflects routine corporate governance practices. The vesting of RSUs is generally a positive sign, indicating continued employment and alignment of interests.
Positives
- The vesting of RSUs indicates that the CFO is meeting the conditions of his compensation package, which is tied to continued employment.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the equity-based compensation of key executives.
Comparison to Industry Standards
- RSU vesting schedules are a common form of executive compensation in publicly traded companies, particularly in the technology and growth sectors.
- The vesting schedule described (cliff vesting followed by periodic vesting) is a standard practice to incentivize long-term employment.
- Tax withholding upon RSU vesting is a standard procedure.
Stakeholder Impact
- Shareholders may view the vesting of RSUs as a sign of management's commitment to the company.
- Employees may see this as a standard part of the company's compensation practices.
Key Dates
| Date | Description |
|---|---|
| 2022-08-05 | Date of grant for the Restricted Stock Units (RSUs). |
| 2023-02-05 | First vesting date for some of the RSUs. |
| 2023-08-05 | Second vesting date for some of the RSUs. |
| 2024-02-05 | Third vesting date for some of the RSUs. |
| 2024-08-05 | Fourth vesting date for some of the RSUs. |
| 2025-02-05 | Date of the reported transactions: RSU vesting and tax withholding. |
| 2025-02-07 | Date of execution of the Power of Attorney. |
| 2025-08-05 | Final vesting date for the RSUs. |
Keywords
Form 4, RSU, Mohmand, Applied Digital Corp., Vesting, Chief Financial Officer, APLD, Stock, Securities, Power of Attorney
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