Applied Digital CFO Sells $2.6 Million in Stock to Cover Tax Obligations

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โดย The Motley Fool·Read original
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Applied Digital Corporation's Chief Financial Officer Mohammad Saidal Lavanway Mohmand sold 96,408 shares at $27.39 per share, totaling approximately $2.6 million, in a non-discretionary transaction to satisfy tax withholding obligations triggered by the vesting of 245,000 performance stock units. The sale reduced his direct equity holdings by 10%, but his total direct position still increased to roughly 888,000 shares following the vesting and the receipt of shares distributed from 272 Capital, LP. Applied Digital, a digital infrastructure provider for AI and high-performance computing, has a market capitalization of $9.0 billion and trailing twelve-month revenue of $576.2 million, with its HPC division posting operating margins over 90% in the latest quarter and a lease backlog of around $36 billion. The company's shares have returned 545% since 2022, significantly outperforming the S&P 500.

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