---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-001423"
form_type: "8-K/A"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2025-01-08T23:59:59+00:00"
generated_at: "2026-05-28T06:14:52.385961+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# APLD grants 2.7M PSUs to CEO, CFO, and VP tied to hyperscaler data center leases and revenue milestones

## Summary
- CEO Wes Cummins awarded 1.6M PSUs (800k each tranche) tied to leasing Buildings A and B, financing, and sustainable revenue by Dec 31, 2027.
- CFO Saidal Mohmand (490k PSUs) and David Rench (612.5k PSUs) granted with same performance conditions; vest after 1 year plus milestones.
- Upon change of control before 2027, all PSUs vest in full, subject to continued employment.
- PSUs forfeited if milestones not met by Dec 31, 2027; partial retention on qualifying termination based on achieved conditions A-C.

## SEC filing metadata
- accession: 0001493152-25-001423
- form_type: 8-K/A
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2025-01-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000149315225001423/0001493152-25-001423-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000149315225001423/form8-ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-001423
- JSON: https://secwatch.observer/filing/0001493152-25-001423.json
- Plain text: https://secwatch.observer/filing/0001493152-25-001423.txt

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