Applied Digital Co-Founder's Stake Drops by Nearly 50,000 Shares Worth $1.3 Million
On September 12, 2026, Applied Digital Corporation co-founder Jason Gechen Zhang reported a non-discretionary disposition of nearly 49,188 shares worth approximately $1.3 million through an SEC Form 4 filing. The transaction was triggered by the automatic vesting of restricted stock units (RSUs) and used to cover tax obligations rather than being an open-market sale. Following this event, Zhang retained a significant equity stake in Applied Digital with over 2.5 million directly held shares valued at $62.41 million as of September 14, 2026 market close—representing approximately 0.88% ownership. The transaction was part of RSU vesting schedules from August 2025 and February 2026, with additional unvested shares expected to vest through 2031. The company operates in the high-performance computing (HPC) and artificial intelligence infrastructure sectors, offering GPU solutions and data center hosting services. With a market cap of $7.2 billion, Applied Digital is positioned for growth as demand increases for AI-driven workloads.
Tickers: $APLD
Topics: restricted stock units (RSUs) SEC filing tax withholding event