Zhang Jason Gechen 4

What Happened Jason (Gechen) Zhang, President of Applied Digital Corporation (APLD), had 93,037 shares of APLD withheld on March 12, 2026 to cover tax liabilities related to the vesting of restricted stock units (RSUs). The transaction is reported as a disposal at $27.48 per share, for a notional value of $2,556,657. This was a tax-withholding event tied to RSU vesting, not an open-market sale.

Key Details

• Transaction date: March 12, 2026; reported on Form 4 filed March 13, 2026 (filed one day after the transaction).
• Reported disposition: 93,037 shares at $27.48 each (total value ~$2,556,657); transaction code F = tax withholding.
• Shares owned after transaction: not specified in the provided filing.
• Notable footnotes:
  • F1: The withholding represents shares retained by the company to satisfy tax obligations on RSU vesting and does not constitute an open-market sale.
  • F2: Includes 500,000 RSUs granted Feb 6, 2026 (vest: 100,000 on Feb 6, 2027, then 50,000 every six months; fully vested in 5 years, subject to continued employment).
  • F3: Includes 500,000 RSUs granted Aug 8, 2025 (vests 125,000 on each of Sept 12, 2026; Mar 12, 2027; Sept 12, 2027; Mar 12, 2028; subject to continued employment).

Context

• Tax-withholding disposals (code F) are routine administrative actions that reduce share count to cover withholding obligations when RSUs vest; they do not necessarily indicate the insider sold shares on the open market or a change in sentiment.
• The filing appears timely (reported the day after the transaction).