secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0001493152-24-041176
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital names Saidal Mohmand CFO; David Rench moves to CAO; CEO gets new agreement
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- David Rench transitions from CFO to Chief Administrative Officer effective Oct 15, 2024.
- Saidal Mohmand promoted from EVP Finance to CFO; base salary $475K, target bonus 75%.
- Mohmand receives 490,000 RSUs and 490,000 PSUs; severance includes 12-24 months salary continuation.
- CEO Wes Cummins enters new employment agreement through Oct 10, 2027; base salary $750K, target bonus 100%.
- Cummins severance includes 18-30 months salary, equity acceleration, and extended COBRA coverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315224041176/0001493152-24-041176-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315224041176/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-041176

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