---
schema_version: "secwatch.filing_event.v1"
accession: "0001144879-23-000201"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2023-09-28T23:59:59+00:00"
generated_at: "2026-06-10T07:26:11.830848+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Applied Digital amends CEO/CFO contracts, hires CTO, enhances change-in-control severance

## Summary
- CEO Wes Cummins and CFO David Rench amendments remove base salary figure and bonus cap; severance upon CIC termination now 2x base plus target bonus.
- Michael Maniscalco appointed CTO with $275k base salary, discretionary bonus; term through Oct 2024 with auto-renewal.
- RSU and PSU awards amended to accelerate vesting if executive is terminated within 24 months after a change in control.
- Amendments effective Sept 25, 2023; base salary removal retroactive to April 4, 2023.
- Compensation changes include arbitration clause and excise tax reduction provisions without gross-ups.

## SEC filing metadata
- accession: 0001144879-23-000201
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2023-09-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000201/0001144879-23-000201-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000201/apld-20230925.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-23-000201
- JSON: https://secwatch.observer/filing/0001144879-23-000201.json
- Plain text: https://secwatch.observer/filing/0001144879-23-000201.txt

## Key facts
- Executive change
  Michael Maniscalco was appointed as Chief Technology Officer at Applied Digital Corp..
  - Action: appointed
  - Role: Chief Technology Officer
  source text: On September 25, 2023, the Company and Michael Maniscalco entered into an Executive Employment Agreement (the “Maniscalco Employment Agreement”), pursuant to which Mr. Maniscalco will serve as the Chief Technology Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000201/0001144879-23-000201-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.