Applied Digital stock jumps on insider share purchases

Investing.com -- Applied Digital Corp. (NASDAQ: APLD) shares climbed 8% on Monday after two top executives disclosed substantial insider stock purchases.

According to a Form 4 filed with the U.S. Securities and Exchange Commission today, President Jason Gechen Zhang acquired 300,000 shares of common stock on Oct. 16 at a weighted average price of $18.86, with individual transaction prices ranging from $18.40 to $19.16 per share. Following the acquisition, Zhang’s direct ownership stands at 2,839,227 shares.

On the same day, CEO and Chairman Wes Cummins purchased 55,803 shares at $18.04 each. This addition brings Cummins’ direct holdings to 5,874,453 shares, a total that includes 1.5 million restricted stock units (RSUs) granted in January 2026 and 742,166 shares held in his IRA. Furthermore, Cummins holds 17,590,238 shares indirectly through Cummins Family Ltd., where he serves as CEO, and an additional 12,798 shares indirectly through 272 Capital, where he previously served as president.

Zhang’s total beneficial ownership is further bolstered by unvested stock awards. This includes 500,000 RSUs granted on Feb. 6, 2026, which will begin vesting on Feb. 6, 2027, in equal installments of 50,000 every six months until fully vested on the five-year anniversary of the grant. His holdings also include the remaining portion of a 750,000 RSU grant from Aug. 8, 2025, with tranches of 125,000 scheduled to vest on March 12, 2027, Sept. 12, 2027, and March 12, 2028.

Original Article

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