Applied Digital Corp. (APLD)

Insider Trading Filed: 2026-04-30

Key Insights

Director Richard Nottenburg sold 25,000 shares across two consecutive trading days (April 28-30, 2026) at prices ranging from $32 to $34.59, reducing his beneficial ownership from approximately 233,878 to 208,378 shares.
The sales occurred at higher valuations on the second transaction ($34.59 weighted average vs. $32), suggesting strategic timing rather than distressed selling, though the volume represents a meaningful 10.9% reduction in his shareholdings.
Nottenburg retains 7,747 unvested RSUs that will convert to common stock in November 2026, indicating continued alignment with the company despite the recent share disposition.

Insider Trading Filed: 2026-04-28

Key Insights

Director Douglas Miller sold 10,000 shares on April 27, 2026 at a weighted average price of $34.98, representing a modest reduction in his direct holdings from approximately 194,859 shares to 184,859 shares.
The sale was executed across multiple transactions at prices ranging from $34.91 to $35.05, suggesting a deliberate execution strategy rather than a single large transaction, which is typical for insider portfolio rebalancing.
Miller retains significant beneficial ownership of 184,859 shares plus 7,747 unvested RSUs (granted November 2025, vesting November 2026), demonstrating continued confidence in the company despite the modest share sale.
The transaction does not appear to be part of a Rule 10b5-1 trading plan based on the filing checkboxes, indicating this was a discretionary sale rather than a pre-planned disposition.

Current Report Filed: 2026-04-16

Key Insights

Applied Digital Corporation announced the grant of profits interests awards in the form of Management Incentive Plan Units (MIP Units) to its executive officers, which represent approximately 5.25% of the EKSO shares of common stock to be issued to the company's subsidiary APLD ChronoScale HoldCo LLC.
The MIP Units are designed to track the appreciation in the equity of EKSO, which the company will hold through APLD ChronoScale HoldCo LLC following a previously announced proposed transaction with Ekso Bionics Holdings, Inc.
The newly adopted APLD ChronoScale Management LLC Equity Incentive Plan is intended to provide an incentive for selected executives, key employees, and other service providers of the Holdco Group to participate in the success and growth of the company.

Insider Trading Filed: 2026-04-14

Key Insights

Insider Wes Cummins, the CEO and Chairman of Applied Digital Corp., exercised 100,000 restricted stock units (RSUs) and sold 39,350 shares to cover tax withholdings, indicating continued confidence in the company's future.
Cummins also holds a significant indirect ownership stake in the company through Cummins Family Ltd. and 272 Capital, totaling over 18 million shares, demonstrating a long-term commitment to the business.
The vesting schedule for Cummins' RSUs suggests a focus on long-term growth, with the final tranche scheduled to vest in October 2027, aligning his interests with those of shareholders.

Quarterly Report Filed: 2026-04-08

Key Insights

The company has experienced significant growth in its software and software development costs, indicating increased investment in its technology and infrastructure.
Applied Digital has seen an increase in its electrical and mechanical infrastructure costs, suggesting potential expansion or upgrades to its data center operations.
The company has disclosed the divestment of its cloud services business, likely to focus resources on its core data center and infrastructure services.

Current Report Filed: 2026-04-08

Key Insights

Applied Digital Corporation reported its Q3 FY2026 financial results, indicating continued growth and strong operational performance.
The company highlighted increased demand for its digital infrastructure and blockchain services, which contributed to its improved financial performance.
Management provided positive guidance for the upcoming fiscal year, indicating confidence in the company's ability to capitalize on industry trends and expand its market share.

Insider Trading Filed: 2026-04-07

Key Insights

Wes Cummins, the CEO and Chairman of Applied Digital Corp., exercised 100,000 restricted stock units (RSUs) and disposed of 34,579 shares for tax purposes, indicating continued ownership and alignment with shareholders.
Cummins holds a substantial direct ownership of 4.2 million shares, as well as indirect beneficial ownership of over 18 million additional shares through Cummins Family Ltd. and 272 Capital, demonstrating his significant commitment to the company.
The vesting and settlement of RSUs, including a new grant of 1.5 million RSUs in January 2026, suggests Cummins' long-term incentive alignment and the company's confidence in his leadership.

Insider Trading Filed: 2026-04-07

Key Insights

The reporting person, Mohammad Saidal LaVanway, the Chief Financial Officer of Applied Digital Corp. (APLD), has exercised restricted stock units (RSUs) to acquire 94,167 shares of the company's common stock.
LaVanway has also sold 36,330 shares to cover tax withholding obligations, indicating he continues to hold a significant equity stake in the company.
The RSU grants and vesting schedule suggest that LaVanway has been granted substantial long-term incentive compensation, aligning his interests with those of shareholders.

Current Report Filed: 2026-03-10

Key Insights

APLD has completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031, which will be used to fund the development and construction of 200 megawatts of critical IT load at its Polaris Forge 2 AI Factory campus.
The notes have a 6.750% interest rate, semi-annual amortization, and various covenants restricting APLD's ability to incur additional debt, pay dividends, make investments, and engage in certain transactions.
APLD has provided a customary completion guarantee to ensure the timely completion of the projects funded by the notes.

Insider Trading Filed: 2026-02-09

Key Insights

The reporting person, Mohammad Saidal LaVanway, was granted 250,000 restricted stock units (RSUs) of Applied Digital Corp. (APLD) on February 6, 2026, which will vest over a five-year period, indicating the company's commitment to retain and incentivize its Chief Financial Officer.
The current direct ownership of 371,409 shares by the reporting person represents a significant stake in the company, aligning his interests with those of other shareholders.
The transaction was made pursuant to a written plan, suggesting the reporting person may have a long-term investment strategy in the company.

Insider Trading Filed: 2026-02-09

Key Insights

The reporting person, Jason Gechen Zhang, acquired 500,000 restricted stock units (RSUs) of Applied Digital Corp. on February 6, 2026, representing a significant increase in his beneficial ownership of the company's shares.
The RSUs granted to the reporting person vest over a five-year period, with the first tranche vesting on February 6, 2027, indicating a long-term commitment to the company.
The reporting person previously held 750,000 RSUs granted in August 2025, which are also vesting over time, suggesting a pattern of insider accumulation of the company's stock.

Current Report Filed: 2026-02-09

Key Insights

Applied Digital has experienced strong growth, with its stock price increasing by 214% in 2025 alone. This appears to be driven by the company's successful pivot to become a leading designer, builder, and operator of high-performance, sustainably engineered data centers.
The company has reached significant milestones, including leasing the full capacity of its first 400MW high performance computing data center campus and signing a lease for 200MW of its second campus with investment-grade hyperscaler tenants.
The company is granting substantial long-term equity awards to its President/Co-Founder and CFO, intended to align their compensation with the company's continued growth and business objectives. This suggests the board believes these leaders are critical to the company's future success.

Insider Trading Filed: 2026-01-30

Key Insights

The reporting person, Chuck Hastings, is a director of Applied Digital Corp. (APLD) and has sold 45,987 shares of the company's common stock at an average price of $38.57.
Hastings still owns a substantial stake of 388,372 shares, including 7,747 restricted stock units granted in November 2025 that will vest in November 2026.
This transaction appears to be a routine sale of a portion of Hastings' holdings, which is common for directors to diversify their personal portfolios.

Insider Trading Filed: 2026-01-23

Key Insights

Douglas S. Miller, a director at Applied Digital Corp., gifted 6,000 shares of the company's common stock to his children on January 22, 2026.
Miller holds 194,859 shares of Applied Digital Corp. directly, including 7,747 restricted stock units granted on November 9, 2025 that will vest in full on November 5, 2026.
The gift of 6,000 shares represents a small portion of Miller's overall stake, indicating the transaction is likely a personal financial management decision rather than a significant change in his position.

Current Report Filed: 2026-01-16

Key Insights

The company has appointed Jason Zhang, co-founder and former chief strategy officer, as the new President and co-founder, indicating a significant leadership change.
The company has entered into an amended employment agreement with Jason Zhang, which includes a base salary increase to $700,000 and continued responsibilities as President and co-founder.
The company has recently leased two new data center campuses in North Dakota, which suggests the company is actively expanding its infrastructure and operations.

Insider Trading Filed: 2026-01-16

Key Insights

The reporting person, Richard N. Nottenburg, is a director of Applied Digital Corp. and has sold 23,606 shares of the company's common stock over the past two days.
Nottenburg still holds 233,378 shares of Applied Digital, including 207,747 restricted stock units that vest in 2026 and 2027, suggesting he remains invested in the company.
The sale of shares was executed at weighted average prices of $35.28 and $35.45, indicating Nottenburg is likely taking some profits but remains a significant shareholder.

Insider Trading Filed: 2026-01-16

Key Insights

Wes Cummins, the CEO and Chairman of Applied Digital Corp., sold 165,000 shares of common stock in a series of transactions at an average price of $36.42.
Cummins still holds a significant stake in the company, with over 22.5 million shares, including indirect ownership through Cummins Family Ltd. and 272 Capital, LP.
The company has granted Cummins a total of 2.7 million restricted stock units (RSUs), with 1.5 million granted on January 6, 2026, vesting over the next 5 years.

Insider Trading Filed: 2026-01-14

Key Insights

The filing indicates that the reporting person, Douglas S. Miller, is a director of Applied Digital Corp. and sold 10,000 shares of the company's common stock on January 12, 2026 at a price of $38.54 per share.
Miller still owns 200,859 shares of Applied Digital Corp. following the reported transaction, indicating he maintains a significant stake in the company.
The filing also discloses that Miller holds 7,747 restricted stock units (RSUs) granted on November 9, 2025 which will vest in full on November 5, 2026 if he continues to serve as a director.

Insider Trading Filed: 2026-01-08

Key Insights

Wes Cummins, the CEO and Chairman of Applied Digital Corp., acquired a significant amount of company stock through 1.5 million restricted stock units and 4.5 million performance stock units, indicating his confidence in the company's future.
Cummins already holds a large indirect ownership stake in Applied Digital through his ownership of Cummins Family Ltd. and 272 Capital, LP, suggesting he is deeply invested in the company's success.
The performance-based vesting conditions on the 4.5 million performance stock units are tied to ambitious stock price targets, implying Cummins believes the company has significant upside potential.

Quarterly Report Filed: 2026-01-08

Key Insights

The filing indicates that Applied Digital Corp. (APLD) has been actively engaged in various financing activities, including the issuance of convertible preferred stock and the conversion of convertible debt and preferred stock into common stock.
The company has made significant investments in its infrastructure, including mechanical, electrical, and construction-related components, as well as software and software development costs.
The filing provides detailed information about the company's preferred stock, common stock, and treasury stock, as well as changes in its additional paid-in capital and retained earnings over the reporting periods.

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Important Information