Form 4: Applied Digital Corp. Executive Michael Maniscalco Reports Stock Transactions
SEC Form 4 Filing
Michael Maniscalco, Chief Technology Officer of Applied Digital Corp., reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On April 4, 2024, Michael Maniscalco, the Chief Technology Officer of Applied Digital Corp., reported transactions involving the company's stock.
- Maniscalco converted 25,000 restricted stock units (RSUs) into common stock.
- Following the conversion, Maniscalco sold 6,072 shares of common stock at a price of $3.27 to cover tax withholding obligations.
- After these transactions, Maniscalco directly owns 75,327 shares of Applied Digital Corp.
- Maniscalco still holds 70,833 RSUs that will vest on August 5, 2024, February 5, 2025, and August 5, 2025.
- Maniscalco also holds 200,000 RSUs that will vest between July 31, 2024, and January 31, 2027.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. Investors monitor these filings to gain insights into management's perspective on the company's stock and future prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increase in the number of shares available in the market.
Key Dates
| Date | Description |
|---|---|
| 04/04/2024 | Date of the reported transactions: RSU conversion and stock sale. |
| 04/08/2024 | Date of signature on the Form 4 filing. |
| 10/04/2024 | First vesting date for 12,500 of the RSUs. |
| 08/05/2024 | First vesting date for 23,610 of the RSUs. |
| 01/31/2025 | Vesting date for 33,333 of the RSUs. |
| 02/05/2025 | Vesting date for 23,611 of the RSUs. |
| 04/04/2025 | Vesting date for 12,500 of the RSUs. |
| 07/31/2025 | Vesting date for 33,333 of the RSUs. |
| 08/05/2025 | Vesting date for 23,612 of the RSUs. |
| 10/04/2025 | Vesting date for 12,500 of the RSUs. |
| 01/31/2026 | Vesting date for 33,333 of the RSUs. |
| 04/04/2026 | Final vesting date for 12,500 of the RSUs. |
| 07/31/2026 | Vesting date for 33,334 of the RSUs. |
| 01/31/2027 | Final vesting date for 33,334 of the RSUs. |
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