Mohmand Mohammad Saidal LaVanway 4

4 · Applied Digital Corp. · Filed Jun 24, 2026

AI-generated summary of this filing

Updated Jun 24, 2026

Applied Digital (APLD) CFO Mohammad LaVanway Receives Award, Withholds Shares

What Happened

Mohammad Saidal LaVanway, Chief Financial Officer of Applied Digital Corp. (APLD), had 490,000 performance stock units (PSUs) vest on June 22, 2026 (one-for-one conversion to common shares). To cover tax liabilities, 192,815 of those shares were withheld at an effective price of $45.20 per share, representing $8,715,238. Net shares received from the vesting were approximately 297,185.

Key Details

Transaction date: 2026-06-22; Form 4 filed 2026-06-24 (timely filing).
Vesting: 490,000 PSUs vested (grant originally on 2024-11-15) — acquisition code A.
Tax withholding: 192,815 shares withheld @ $45.20 (total value $8,715,238) — code F; this withholding is not an open-market sale.
Net shares issued to LaVanway from the vesting: ~297,185 (490,000 − 192,815).
Footnotes: F1 confirms shares came from vested PSUs; F2 notes a separate grant of 250,000 RSUs on 2026-02-06 with a multi-year vesting schedule; F3 clarifies withholding is for taxes and not a sale.
Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context

PSUs and RSUs are compensation awards that convert to stock upon vesting and typically reflect long-term incentive pay; the withholding here is a routine tax-related action rather than an open-market sale. Purchases signal potential bullishness more than vesting events; this filing documents compensation vesting and related tax withholding.

Form 4

Period: 2026-06-22

Chief Financial Officer

Transactions

Award
Common Stock
[F1][F2]
2026-06-22+490,000→ 919,246 total
Tax Payment
Common Stock
[F3][F2]
2026-06-22$45.20/sh−192,815$8,715,238→ 726,431 total

Footnotes (3)

[F1]Shares received upon the vesting of 490,000 performance stock units ("PSUs") granted on November 15, 2024, which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.
[F2]Includes 250,000 restricted stock units ("RSUs") granted on February 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of 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 PSUs, which does not constitute an actual sale or other open market transaction.

Signature

/s/ Mark Chavez as Attorney-in-Fact|2026-06-24

1 file