secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2026-01-08T23:59:59+00:00
Accession:  0001493152-26-000974
Event type: leadership
Sentiment:  positive
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226000974/0001493152-26-000974-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226000974/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-000974

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer