Applied Digital Corp. (NASDAQ: APLD) President Jason Gechen Zhang purchased 300,000 shares of common stock on Oct. 16, according to a Form 4 filing with the U.S. Securities and Exchange Commission.

The shares were acquired at a weighted average price of $18.86, with individual transaction prices ranging from $18.40 to $19.16 per share. Following the purchase, Zhang directly holds 2,839,227 shares of Applied Digital common stock.

The total beneficial ownership figure includes 500,000 restricted stock units granted on Feb. 6, 2026, which vest beginning Feb. 6, 2027, with the remainder vesting in equal installments of 50,000 RSUs every six months thereafter, fully vesting on the five-year anniversary of the grant date. The holdings also include a remaining portion of 750,000 RSUs granted on Aug. 8, 2025, with 125,000 RSUs scheduled to vest on each of March 12, 2027, September 12, 2027, and March 12, 2028. All vesting is subject to Zhang's continued full-time employment in a role approved by the company's board of directors.