Mohmand Mohammad Saidal LaVanway 4
4 · Applied Digital Corp. · Filed Apr 7, 2026
Research Summary
AI-generated summary of this filing
Applied Digital (APLD) CFO Mohammad LaVanway Converts 94,167 RSUs
What Happened
- Mohammad Saidal LaVanway, Chief Financial Officer of Applied Digital Corporation (APLD), had restricted stock units (RSUs) vest and convert into 94,167 shares on April 4, 2026. To cover tax withholding, 36,330 shares were withheld (disposed) at a per-share value of $24.56, totaling approximately $892,265. After withholding, LaVanway received a net ~57,837 shares (94,167 vested − 36,330 withheld).
- This was a routine vesting/conversion of RSUs (derivative-code M) with tax withholding (code F), not an open-market sale or a new cash purchase.
Key Details
- Transaction date: April 4, 2026; Form 4 filed April 7, 2026 (timely filing).
- Vested/converted shares: 94,167 total (12,500 + 81,667 reported).
- Shares withheld for taxes: 36,330 shares at $24.56/share; total withheld value ≈ $892,265 (reported as $103,005 and $789,260 in two entries).
- Net shares delivered to insider: ~57,837 shares.
- Relevant footnotes:
- F1 & F4: Describe prior RSU grants (April 4, 2023 grant and Oct 17, 2024 grant) and their vesting schedules that produced the vested RSUs.
- F2: Notes a separate 250,000 RSU grant on Feb 6, 2026 with multi-year vesting (not part of this immediate conversion).
- F3: Confirms the withholding of shares for tax purposes is not an open-market sale.
- Transaction codes: M = exercise/conversion of derivative (here, RSU conversion); F = shares withheld to satisfy tax obligations.
Context
- This filing reflects RSU vesting and tax withholding—a common executive compensation event—not a purchase (bullish signal) or an open-market sale (which might signal liquidity-taking).
- The withheld shares to cover taxes are a cashless-type settlement and do not necessarily reflect the insider’s market view. No 10% owner or 10b5-1 plan was indicated in the filing.
Insider Transaction Report
Form 4
Mohmand Mohammad Saidal LaVanway
Chief Financial Officer
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2026-04-04+12,500→ 383,909 total - Tax Payment
Common Stock
[F3][F2]2026-04-04$24.56/sh−4,194$103,005→ 379,715 total - Exercise/Conversion
Common Stock
[F4][F2]2026-04-04+81,667→ 461,382 total - Tax Payment
Common Stock
[F3][F2]2026-04-04$24.56/sh−32,136$789,260→ 429,246 total - Exercise/Conversion
Restricted Stock Unit
[F1]2026-04-04−12,500→ 0 total→ Common Stock (12,500 underlying) - Exercise/Conversion
Restricted Stock Unit
[F4]2026-04-04−81,667→ 245,000 total→ Common Stock (81,667 underlying)
Footnotes (4)
- [F1]Restricted stock units ("RSUs") granted on April 4, 2023, represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. The RSUs have no expiration date and vested as follows: 25,000 on April 4, 2024, and 12,500 on each of October 4, 2024, April 4, 2025, October 4, 2025, and April 4, 2026, and were subject to the Reporting Person's continued employment with the Company through the applicable vesting date.
- [F2]Includes 250,000 RSU's granted on February 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of Applied Digital Corporation the Company on a one-for-one basis, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.
- [F3]Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of RSUs, which does not constitute an actual sale or other open market transaction.
- [F4]Restricted stock units ("RSUs") granted on October 17, 2024, represent a contingent right to receive shares of common stock of the Company on a one-for-one basis. The RSUs have no expiration date and vest as follows: 81,666 on April 4, 2025, 81,667 on each of October 4, 2025, and April 4, 2026, 81,666 on October 4, 2026, and 81,667 on each of April 4, 2027, and October 4, 2027, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.
Signature
/s/ Mark Chavez as Attorney-in-Fact|2026-04-07