Rachel H. Lee Sells Shares of Applied Digital Corp.

Rachel H. Lee, a director of Applied Digital Corp., sold 24,213 shares of common stock on October 24, 2025, at a weighted average price of $33.20 per share. The shares were sold in multiple transactions with prices ranging from $33.17 to $33.21. Following this transaction, Lee owns 59,400 shares of common stock, which includes 28,606 restricted stock units (RSUs) granted on December 27, 2024, and 46,190 shares of restricted stock granted on February 22, 2024. The RSUs convert into shares of common stock on a one-for-one basis and vest in full on November 20, 2025, subject to Lee's continued service. The restricted stock vests in increments, with 15,396 shares vesting on February 22, 2025, and 15,397 shares vesting on each of February 22, 2026, and February 22, 2027, contingent upon Lee remaining a director of the company.