Applied Digital President Jason Zhang Withholds 49,188 Shares

What Happened

• Jason Gechen Zhang, President of Applied Digital Corporation (APLD), had 49,188 shares withheld on Sept 12, 2026 to satisfy tax withholding related to the immediate vesting of restricted stock units (RSUs). The withholding was recorded at $26.42 per share, equal to $1,299,547.
• This was a tax-withholding event (transaction code F), not an open-market sale or purchase — the shares were retained by the company to cover taxes upon vesting of RSUs.

Key Details

• Transaction date: 2026-09-12; Reporting date/filed: 2026-09-14 (appears to be filed within the typical 2-business-day Form 4 window).
• Withheld shares: 49,188 at $26.42 per share; total value shown: $1,299,547.
• Shares owned after transaction: Not specified in the provided filing information.
• Footnotes of note:
  • F1: Confirms the withholding was for tax purposes in connection with immediate RSU vesting and is not an open-market sale.
  • F2: Describes a separate 500,000-RSU grant (Feb 6, 2026) with multi-year vesting schedule.
  • F3: Notes the remainder of a 500,000-RSU grant from Aug 8, 2025; 125,000 RSUs vested on Sept 12, 2026 (with remaining tranches on future dates), which is the likely vesting event that triggered the withholding.

Context

• Tax-withholding via retained shares is a common administrative step when RSUs vest; it does not necessarily reflect insider sentiment about the stock since no open-market sale occurred.
• The filing indicates this was a withholding to cover tax liability rather than a discretionary sale or acquisition.