---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-005250"
form_type: "8-K/A"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2025-04-17T23:59:59+00:00"
generated_at: "2026-05-23T11:32:15.314470+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-005250
- form_type: 8-K/A
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2025-04-17T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000164117225005250/0001641172-25-005250-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000164117225005250/form8-ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-005250
- JSON: https://secwatch.observer/filing/0001641172-25-005250.json
- Plain text: https://secwatch.observer/filing/0001641172-25-005250.txt

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