secwatch.observer — SEC 8-K summary
======================================

Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2026-02-09T23:59:59+00:00
Accession:  0001493152-26-005788
Event type: leadership
Sentiment:  positive
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

APLD grants 2.25M PSUs and 750k RSUs to President and CFO tied to hyperscaler contracts and NOI targets
--------------------------------------------------------------------------------

- Jason Zhang (President/Co-Founder) receives 1.5M PSUs and 500k RSUs; Saidal Mohmand (CFO) receives 750k PSUs and 250k RSUs.
- Zhang PSUs vest on signing contracts for 600 MW then 1.6 GW of data center capacity with investment-grade hyperscalers.
- Mohmand PSUs vest on company achieving $1B and $2B trailing-twelve-month NOI targets by February 2031.
- RSUs vest over five years (20% at one year, remainder semiannually); grants represent less than 1% of shares outstanding each.
- Company cites 214% stock price gain in 2025, 176% revenue growth to $190.8M, and Polaris Forge leases as context.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226005788/0001493152-26-005788-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226005788/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-005788

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