Form 4: Applied Digital Corp. Director Kate Reed Disposes of Shares Following Departure

Kate Reed, a director of Applied Digital Corp., disposed of 15,650 shares of restricted stock following her departure from the board.

Summary

• Kate Reed, a former director of Applied Digital Corp., has reported the disposal of 15,650 shares of common stock.
• The shares were restricted stock that were scheduled to vest on November 9, 2025, and November 9, 2026, contingent on her continued service as a director.
• As of November 20, 2024, Kate Reed ceased to be a director, resulting in the forfeiture of these shares.
• She still holds 300,000 restricted stock units (RSUs) that vest over time, subject to her continued employment with the company.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to a director's departure and does not indicate any significant positive or negative sentiment.

Negatives

• The disposal of 15,650 shares indicates a loss of potential future equity for Kate Reed due to her departure from the board.

Risks

• The departure of a director could signal potential changes in the company's strategic direction or governance.

Industry Context

This type of filing is common when a director leaves a company and is required by the SEC to disclose changes in beneficial ownership.

Comparison to Industry Standards

• The disposal of shares due to a director's departure is a standard practice across publicly traded companies.
• Similar filings are routinely made by directors and officers of companies like NVIDIA, AMD, and Intel when they leave their positions or have changes in their equity holdings.

Management Changes

Stakeholder Impact

• Shareholders may be interested in the changes in director ownership, but the impact is likely minimal.

Key Dates

Keywords

director, stock disposal, restricted stock, RSU, Applied Digital Corp, APLD, corporate governance, executive departure