Applied Digital (APLD) President Jason Gechen Zhang Receives Award (600,000 PSUs)

What Happened

• Jason Gechen Zhang, President of Applied Digital Corporation (APLD), had 600,000 performance stock units (PSUs) vest on July 31, 2026. The PSUs converted one-for-one into 600,000 shares of common stock.
• To satisfy tax withholding related to the vesting, 236,100 shares were withheld at an implied price of $27.39 per share, equal to $6,466,779. That withholding is reported under code F and is not an open‑market sale; the reporting person effectively received a net ~363,900 shares.

Key Details

• Transaction date: July 31, 2026.
• Award/vesting: 600,000 PSUs vested (one-for-one conversion to common stock).
• Tax withholding: 236,100 shares withheld at $27.39/share; value withheld = $6,466,779 (code F).
• Net shares delivered to insider: 600,000 − 236,100 = 363,900 shares.
• Shares owned after transaction: Not explicitly reported on the Form 4.
• Relevant footnotes:
  • F1: Confirms the 600,000 PSUs were granted March 27, 2025 and vested into shares one-for-one.
  • F4: Clarifies the share withholding was for tax purposes and does not represent an open-market sale.
  • F2 & F3: The filing notes the reporting person’s holdings include additional RSU grants — 500,000 RSUs granted Feb 6, 2026 (vesting schedule with a 100k cliff and subsequent semiannual installments over five years) and 500,000 RSUs granted Aug 8, 2025 (vesting in four installments of 125,000 through March 12, 2028).
• Filing timeliness: Form filed Aug 4, 2026; this appears to be within the standard two business‑day reporting window after the July 31 transaction.

Context

• This filing reflects equity compensation vesting and routine tax withholding rather than an intentional market sale or purchase. Withholding (code F) is common when PSUs/RSUs vest—shares are surrendered to cover tax obligations. Purchases by insiders often draw more attention as potential bullish signals; vesting events mainly reflect compensation becoming deliverable.