Applied Digital grants 2.445M PSUs to three executives with milestones tied to data center performance

Applied Digital Corp.

1.6M PSUs to CEO Wes Cummins, 245k to CFO Saidal Mohmand, 600k to Laura Laltrello under 2024 Omnibus Plan.
Vesting requires: Building 02 achieving >$20M net operating income for 2 quarters OR hyperscaler lease for 200+ MW.
Additional vesting condition: Building 03 reaching ready-for-service date; Laltrello also must keep opex <$34.50/kWm over 12 months.
PSUs expire Dec 31, 2027 if conditions unmet; full acceleration on change of control.
Amendment updates prior 8-K; executives executed awards in April 2025.

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