Applied Digital shareholders approve 2024 equity plan, increase authorized shares; large PSU grants

Applied Digital Corp.

Shareholders approved 2024 Omnibus Equity Incentive Plan, reserving 10M shares for issuance.
Authorized common stock increased to 400M shares, preferred to 10M shares via charter amendment.
Compensation committee approved PSU grants to CEO (1.6M), CFO (490k), CAO (612.5k).
David Rench new offer letter: $475k base salary, 100% target bonus, 490k RSUs, 612.5k PSUs.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Applied Digital Corp.: Increased authorized common stock to 400,000,000 shares and preferred stock to 10,000,000 shares via Certificate of Amendment to Second Amended and Restated Articles of Incorporation (effective 2024-11-20).

Change: charter amendment
Effective: 2024-11-20

Exact text from the filing

On November 20 , 2024, the Company filed a Certificate of Amendment to the Articles (the “Certificate of Amendment”), to increase the number of shares of (i) common stock authorized for issuance thereunder to 400,000,000 shares, each share of common stock having a par value of $0.001 and (ii) preferred stock authorized for issuance thereunder to 10,000,000 shares.

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13 governance changes filed in the last 30 days. Browse all governance changes →

Applied Digital Corp. filing history →

Source: SEC EDGAR

accession 0001493152-24-047084

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