Applied Digital grants 170,000 fully vested RSUs to chief strategy officer

Applied Digital Corp. (NASDAQ:APLD) reported that on November 25, the company’s Compensation Committee approved an award of 170,000 restricted stock units (RSUs) to Jason Zhang, who serves as co-founder and chief strategy officer. According to the company’s statement, each RSU represents the right to receive one share of Applied Digital’s common stock, and all of the RSUs were fully vested on the grant date.

The award was made under the company’s 2024 Omnibus Equity Incentive Plan. The RSUs grant is described as being subject to the terms and conditions of the plan and the related agreement, as referenced in the company’s previous filings.

Applied Digital is incorporated in Nevada and is headquartered in Dallas, Texas. Its common stock is listed on the Nasdaq Global Select Market under the ticker APLD.

This information is based on a statement in the company’s recent filing with the Securities and Exchange Commission.

In other recent news, Applied Digital has completed a private offering of $2.35 billion in senior secured notes, with proceeds intended to support the construction of its data centers in North Dakota. The notes, issued by its subsidiary APLD ComputeCo LLC, were priced at 97% of their principal amount and carry a 9.250% interest rate due in 2030. Additionally, the company is set to receive $787.5 million in equity funding from Macquarie Asset Management to further develop its AI data center campuses, as part of a larger $5 billion financing facility.

In another development, Applied Digital successfully completed the second 50 MW phase at its Polaris Forge 1 AI Factory Campus, reaching a full 100 MW capacity for Building 1. This achievement is part of a broader 400 MW deployment for CoreWeave under long-term lease agreements. Furthermore, Applied Digital led a $25 million funding round in Corintis, a Swiss firm specializing in advanced chip-cooling solutions. These recent developments reflect significant progress in Applied Digital’s expansion and investment strategies.

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