Form 4: Applied Digital Corp.: Former Officer Michael Maniscalco Reports Stock Transactions
SEC Form 4 Filing
Michael Maniscalco, a former officer of Applied Digital Corp., reports the vesting of restricted stock units and associated tax withholding.
Summary
- On January 31, 2025, Michael Maniscalco, a former officer of Applied Digital Corp., reported transactions involving the company's common stock.
- These transactions included the vesting of 33,333 restricted stock units (RSUs) and the subsequent withholding of 9,166 shares for tax purposes at a price of $7.12 per share.
- Following these transactions, Maniscalco directly owns 152,026 shares of Applied Digital Corp.
- Maniscalco ceased being the Issuer's Chief Technology Officer effective January 31, 2025.
- The RSUs were granted on January 31, 2024, and vest in installments through January 31, 2027, contingent upon continued employment (which has now ceased).
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and is a standard practice for publicly traded companies. It provides transparency into the trading activities of company insiders.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Chief Technology Officer | Michael Maniscalco | 01/31/2025 | Maniscalco ceased being the Issuer's Chief Technology Officer |
Stakeholder Impact
- Shareholders are informed about insider transactions, promoting transparency.
- Employees may be affected by the management change.
Key Dates
| Date | Description |
|---|---|
| 01/31/2024 | RSUs granted to Michael Maniscalco, vesting in installments. |
| 07/31/2024 | First vesting date of RSUs (33,333 shares). |
| 01/31/2025 | Second vesting date of RSUs (33,333 shares); Maniscalco ceased being the Issuer's Chief Technology Officer; RSU vesting and tax withholding occurred. |
| 07/31/2025 | Third vesting date of RSUs (33,334 shares). |
| 01/31/2026 | Fourth vesting date of RSUs (33,333 shares). |
| 07/31/2026 | Fifth vesting date of RSUs (33,333 shares). |
| 01/31/2027 | Final vesting date of RSUs (33,334 shares). |
| 02/06/2025 | Date of Form 4 filing. |
Keywords
Form 4, insider trading, restricted stock units, APLD, Applied Digital Corp., Maniscalco Michael
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