---
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"
generated_at: "2026-05-16T11:10:22.266999+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Applied Digital grants CEO 4.5M PSUs and 1.5M RSUs; PSUs tied to $50/$75/$100 stock price hurdles

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: leadership
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-000974
- JSON: https://secwatch.observer/filing/0001493152-26-000974.json
- Plain text: https://secwatch.observer/filing/0001493152-26-000974.txt

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