[144] Applied Digital Corporation SEC Filing

Rhea-AI Filing Summary

Applied Digital Corporation (APLD) filed a Form 144 reporting a proposed sale of 11,250 common shares through Morgan Stanley Smith Barney LLC, with an aggregate market value of $159,966 and an approximate sale date of 08/08/2025 on NASDAQ. The filing lists total shares outstanding as 261,519,794, and identifies the lots as restricted stock acquired from the issuer on 05/13/2025.

The notice also discloses a recent sale by Richard N. Nottenburg of 13,686 common shares on 08/04/2025 for $171,075. The signer makes the required representation that they are unaware of any material nonpublic adverse information and references compliance with trading-plan and Rule 10b5-1 provisions where applicable.

Positive

• Form 144 filed disclosing the proposed sale via Morgan Stanley Smith Barney LLC on NASDAQ
• Acquisition details provided: shares identified as restricted stock acquired from the issuer on 05/13/2025
• Prior sale disclosed (transparency): 13,686 shares sold for $171,075 on 08/04/2025
• Affirmation of no known material nonpublic adverse information and reference to Rule 10b5-1 trading-plan compliance

Negative

• Proposed sale of 11,250 shares with an aggregate market value of $159,966 (approximate sale date 08/08/2025)
• Recent disposition by Richard N. Nottenburg of 13,686 shares for $171,075 on 08/04/2025

Insights

Securities Analyst

TL;DR: Routine insider notice; small-dollar sale disclosed, consistent with Rule 144 compliance and restricted-stock disposition.

The filing documents a scheduled sale of 11,250 common shares valued at $159,966 via Morgan Stanley on NASDAQ, and notes a prior sale of 13,686 shares for $171,075. The shares to be sold were acquired as restricted stock on 05/13/2025. From a market-impact perspective, the filing is a standard compliance disclosure rather than a material corporate development. Investors will view this as an insider liquidity event recorded under Rule 144; no new financial or operational information about the issuer is provided in the notice.

Corporate Governance Expert

TL;DR: Disclosure aligns with governance and securities-law requirements but does not provide substantive corporate updates.

The filer includes the required representation that no material nonpublic adverse information is known, and the form references Rule 10b5-1 trading-plan considerations. The filing identifies the broker, the transaction type (restricted stock), acquisition and proposed sale dates, and gross amounts for recent sales, which fulfills transparency expectations for officer/director or large-holder dispositions. There is no indication of unusual structuring or evasive disclosure practices in the document itself.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	11250	159966.00	261519794	08/08/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/13/2025	Restricted Stock	Issuer			11250	05/13/2025	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
RICHARD N NOTTENBURG 3811 Turtle Creek Blvd Suite 2100 Dallas TX 75219	Common	08/04/2025	13686	171075.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the APLD Form 144 disclose?

The Form 144 reports a proposed sale of 11,250 common shares valued at $159,966 via Morgan Stanley on NASDAQ and notes a prior sale of 13,686 shares for $171,075.

How many shares is the insider proposing to sell and when?

The filing shows a proposed sale of 11,250 common shares with an approximate sale date of 08/08/2025.

How were the shares being sold acquired?

The shares to be sold were acquired as restricted stock from the issuer on 05/13/2025.

Were any recent sales by the filer disclosed?

Yes. The filing records a sale by Richard N. Nottenburg of 13,686 common shares on 08/04/2025 for $171,075.

Does the filing state any material nonpublic information?

The person signing the notice represents that they do not know of any material adverse nonpublic information regarding the issuer.