Form 4: Applied Digital Corp. Executive Michael Maniscalco Reports Stock Transactions
SEC Form 4 Filing
Chief Technology Officer Michael Maniscalco reports the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- Michael Maniscalco, Chief Technology Officer of Applied Digital Corp., filed a Form 4 on August 7, 2024, reporting transactions that occurred on August 5, 2024.
- The transactions involved the vesting of restricted stock units (RSUs) and the subsequent withholding of shares for tax purposes.
- Specifically, 16,666 RSUs converted into common stock, and 4,059 shares were withheld for taxes at a price of $4.21 per share.
- Additionally, 6,944 RSUs converted into common stock, and 1,691 shares were withheld for taxes at a price of $4.21 per share.
- Following these transactions, Maniscalco directly owns 118,403 shares of Applied Digital Corp. common stock and 13,889 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information about stock transactions.
Positives
- The vesting of RSUs indicates that Maniscalco is meeting the conditions of his equity compensation plan.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. They are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the standard vesting of executive compensation.
Key Dates
| Date | Description |
|---|---|
| August 5, 2022 | Date of grant for the restricted stock units. |
| February 5, 2023 | First vesting date for some of the RSUs granted on August 5, 2022 (16,666 shares). |
| August 5, 2023 | Second vesting date for some of the RSUs granted on August 5, 2022 (16,667 and 13,889 shares). |
| February 5, 2024 | Third vesting date for some of the RSUs granted on August 5, 2022 (16,667 and 6,944 shares). |
| August 5, 2024 | Date of the reported transactions: vesting of RSUs and tax withholding. |
| February 5, 2025 | Future vesting date for some of the RSUs granted on August 5, 2022 (16,667 and 6,944 shares). |
| August 5, 2025 | Final vesting date for some of the RSUs granted on August 5, 2022 (16,667 and 6,945 shares). |
| August 7, 2024 | Date the Form 4 was filed. |
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