Form 4: Director Richard Nottenburg Sells Applied Digital Shares

Applied Digital Corp. director Richard Nottenburg sold 25,000 shares of common stock in late April 2026.

Summary

• Director Richard Nottenburg sold a total of 25,000 shares of Applied Digital Corp. (APLD) common stock.
• The sales occurred in two tranches: 12,500 shares on April 28, 2026, at $32.00 per share, and 12,500 shares on April 30, 2026, at a weighted average price of $34.59 per share.
• Following these transactions, the director retains beneficial ownership of 208,378 shares, which includes 7,747 restricted stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the sale represents a routine divestment by an insider rather than a fundamental shift in corporate strategy.

Positives

• The director maintains a significant remaining equity stake of 208,378 shares in the company.

Negatives

• The filing reflects a reduction in direct equity ownership by a member of the board of directors.

Risks

• Insider selling can sometimes be perceived by the market as a lack of confidence in near-term share price appreciation.

Future Outlook

No specific forward-looking guidance regarding company operations was provided in this filing.

Industry Context

StockSavvy.ai notes that director sales are common occurrences for liquidity or portfolio rebalancing and do not necessarily reflect a change in the company's fundamental outlook.

Comparison to Industry Standards

• Insider selling is a standard practice among corporate directors and is generally viewed as neutral unless the volume represents a significant portion of total holdings.

Stakeholder Impact

• Shareholders may monitor insider activity for signals regarding management's view on current valuation.

Next Steps

• Vesting of 7,747 restricted stock units on November 5, 2026.

Key Dates

Keywords

Applied Digital, APLD, Insider Trading, Form 4, Director Sale, Equity Ownership