Director Rachel H. Lee filed a Form 4 with the SEC on November 6, 2026, disclosing the acquisition of 14,450 restricted stock units granted by Applied Digital Corp. on November 4, 2026 for board service.

Key Highlights

  • Grant date: 14,450 RSUs were acquired on November 4, 2026 at a price of $0.
  • Vesting schedule: The RSUs vest in full on November 4, 2027, subject to the reporting person's continued service through that date.
  • Conversion terms: The RSUs convert into shares of Applied Digital Corporation common stock on a one-for-one basis and have no expiration date.
  • Post-transaction ownership: Following the grant, Rachel H. Lee beneficially owned 81,597 shares of common stock directly.
  • Prior restricted stock: The 81,597 share total includes 46,190 shares of restricted stock granted on February 22, 2024 as an initial grant upon initiation of board service.
  • Relationship to issuer: Rachel H. Lee is identified as a director of Applied Digital Corp. (NASDAQ:APLD).

Applied Digital Director Lee Granted RSUs for Board Service in November 2026

According to the Form 4 filed on November 6, 2026, Rachel H. Lee, a director of Applied Digital Corp. (NASDAQ:APLD), received a grant of 14,450 restricted stock units on November 4, 2026. The filing identifies these RSUs as granted to non-employee directors for board service. The acquisition was coded as "A" (acquired), with a stated price of $0. The RSUs convert into shares of common stock on a one-for-one basis, carry no expiration date, and vest in full on November 4, 2027, contingent on the reporting person's continued service through that date.

Following the reported transaction, Lee's direct beneficial ownership of Applied Digital common stock totals 81,597 shares, according to the filing. The filing notes that this total includes 46,190 shares of restricted stock granted on February 22, 2024 as an initial grant upon initiation of board service. Of those shares, 15,396 vested on February 22, 2025, 15,397 vested on February 22, 2026, and 15,397 are scheduled to vest on February 22, 2027, subject to Lee being a director of the issuer on that date.

The Form 4 was signed by Mark Chavez as attorney-in-fact on November 6, 2026, and was filed as an individual, single-reporting-person form. No derivative securities transactions were reported in Table II of the filing.

What Was Disclosed

Applied Digital Corp. director Rachel H. Lee disclosed the acquisition of 14,450 RSUs on November 4, 2026 at $0, granted for board service, vesting in full on November 4, 2027. Her resulting direct beneficial ownership stands at 81,597 shares of common stock.