Form 4: Applied Digital Corp. Director Sells Shares to Cover Tax Obligations

Richard N. Nottenburg, a director at Applied Digital Corp., sold 19,369 shares of common stock at an average price of $7.5052 to cover income tax liabilities.

Summary

• Richard N. Nottenburg, a director of Applied Digital Corp., sold 19,369 shares of common stock on November 7, 2024.
• The shares were sold at a weighted average price of $7.5052, with individual prices ranging from $7.50 to $7.52.
• The sale was conducted to cover income tax liabilities associated with the vesting of restricted stock.
• Following the transaction, Nottenburg beneficially owns 384,317 shares of Applied Digital Corp. common stock.
• This includes 300,000 shares of restricted stock granted on May 13, 2024, which vest over three years.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction by a company director. It is neither positive nor negative for the company's outlook.

Industry Context

This is a routine transaction for a company director to sell shares to cover tax obligations related to vesting stock. It is common practice and does not necessarily indicate a negative outlook on the company.

Comparison to Industry Standards

• Similar transactions are common among directors and officers of publicly traded companies, especially when dealing with restricted stock grants.
• The sale of shares to cover tax liabilities is a standard practice and does not indicate any unusual activity compared to other companies.

Stakeholder Impact

• The sale of shares by a director may have a minor impact on the stock price, but it is not expected to be significant.
• The transaction does not directly impact employees, customers, or suppliers.

Key Dates

Keywords

insider trading, stock sale, Form 4, Applied Digital Corp, APLD, director, restricted stock, tax liability