Applied Digital President Jason Zhang's Equity Transactions - July 2026

This Form 4 filing reports equity transactions by Applied Digital Corp. President Jason Zhang on July 1, 2026. Zhang received 300,000 shares upon vesting of performance stock units (PSUs) granted in March 2025, and 375,000 shares from PSUs granted in February 2026. Concurrently, he disposed of 118,050 and 147,563 shares at $35.52 per share for tax withholding purposes related to the PSU vesting. Following these transactions, Zhang's direct ownership decreased from 2,115,128 to 2,224,515 shares. The filing also discloses 1,000,000 restricted stock units (RSUs) granted in August 2025 and February 2026 that are subject to vesting schedules over several years. The transactions represent routine equity compensation activity and tax withholding rather than open market sales.