Form 4: Applied Digital Director Richard Nottenburg Sells 80,000 Shares

Richard Nottenburg, a director at Applied Digital Corp., sold 80,000 shares of common stock on October 14, 2024, primarily to cover income tax liabilities associated with vesting securities.

Summary

• Richard Nottenburg, a director of Applied Digital Corporation, sold 80,000 shares of common stock on October 14, 2024.
• The sale was executed at a weighted average price of $7.368 per share, with individual prices ranging from $7.33 to $7.545.
• The director is using the proceeds primarily to pay income tax liability associated with the vesting of the subject securities.
• Following the transaction, Nottenburg still beneficially owns 433,686 shares of Applied Digital Corp.
• Nottenburg also has a Power of Attorney designating Wes Cummins, David Rench, and Mohammad Saidal LaVanway Mohmand to act on his behalf for SEC filings.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a director's stock sale. The sale appears to be for tax purposes, which is a neutral event. There is no indication of positive or negative sentiment.

Industry Context

Sales by company directors are a common occurrence and are often related to personal financial planning, including tax obligations. It's important to consider the overall trend of insider transactions and the company's performance when evaluating the significance of this sale.

Stakeholder Impact

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

Key Dates