Mohmand Mohammad Saidal LaVanway 4

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.