Form 4: Applied Digital Corp. Director Richard Nottenburg Sells 30,000 Shares to Cover Tax Obligations

Director Richard Nottenburg sold 30,000 shares of Applied Digital Corp. stock at an average price of $8.01 to cover income tax liabilities associated with vesting securities.

Summary

• Richard Nottenburg, a director of Applied Digital Corp., sold 30,000 shares of common stock on October 17, 2024.
• The sale was executed at a weighted average price of $8.01 per share, with individual prices ranging from $8.00 to $8.045.
• The purpose of the sale was primarily to cover income tax liabilities related to the vesting of securities.
• Following the transaction, Nottenburg directly owns 403,686 shares of Applied Digital Corp.
• This includes 33,685 shares of restricted stock that will vest on November 9, 2024, and 300,000 shares of restricted stock vesting in installments through May 13, 2027, contingent on his continued service as a director.

Sentiment

Score: 5

Explanation: The document describes a routine stock sale by a director to cover tax obligations, which is neither particularly positive nor negative.

Industry Context

Sales of stock by company directors are a normal part of corporate governance. It is important to consider the size of the sale relative to the director's total holdings, and the stated reason for the sale.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment, but the stated reason (tax obligations) mitigates potential concerns.

Key Dates