UNITED STATES
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FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 25, 2025 (the “Grant Date”), the Compensation Committee (the “Committee”) of the Board of Directors of Applied Digital Corporation (the “Company”) approved an award of 170,000 restricted stock units (the “RSUs”) to Jason Zhang, Co-Founder and Chief Strategy Officer of the Company, under the Company’s 2024 Omnibus Equity Incentive Plan (as amended from time to time, the “Plan”). Each RSU represents a right to receive one share of the Company’s common stock upon vesting. The RSUs were fully vested on the Grant Date.
The foregoing description of the RSUs does not purport to be complete and is qualified in its entirety by reference to the Form of Restricted Stock Unit Agreement, a copy of which is filed as Exhibit 10.5 to the Company’s Current Report on Form 8-K, filed with the SEC on November 21, 2024 and incorporated by reference hereto.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| APPLIED DIGITAL CORPORATION | ||
| Date: December 2, 2025 | By: | /s/ Saidal Mohmand |
| Name: | Saidal Mohmand | |
| Title: | Chief Financial Officer | |