{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-000974","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2026-01-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:34.618655+00:00","generated_at":"2026-05-16T11:10:22.266999+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Applied Digital grants CEO 4.5M PSUs and 1.5M RSUs; PSUs tied to $50/$75/$100 stock price hurdles","bullets":["Granted CEO Wes Cummins 4,500,000 PSUs and 1,500,000 RSUs on Jan 6, 2026; awards replace future equity for five years.","PSUs vest upon 90-day avg closing price ≥$50, $75, $100; each tranche 1.5M shares; no value below $50.","RSUs vest over five years: 300k on 1-yr anniversary, then 150k every six months; full vest on year five.","PSU award ~1.6% of shares outstanding; RSU award ~0.6%; dilution deemed reasonable by Board.","Board rationale: 214% stock return in 2025, hyperscaler leases for 400MW+200MW; long-term alignment."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-000974","json":"https://secwatch.observer/filing/0001493152-26-000974.json","markdown":"https://secwatch.observer/filing/0001493152-26-000974.md","text":"https://secwatch.observer/filing/0001493152-26-000974.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000149315226000974/0001493152-26-000974-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000149315226000974/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T11:10:22.266999+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}