Applied Digital amends Jason Zhang PSU award agreement to fix hurdle calculation error

Reuters03-14

<a href="https://laohu8.com/S/APLD">Applied Digital</a> amends Jason Zhang PSU award agreement to fix hurdle calculation error

Applied Digital filed a Form 8-K/A to correct a scrivener’s error in how performance “Hurdles” are calculated under a Performance Stock Unit award agreement for President Jason Zhang. The original agreement counted only data center contracts entered into on or after the award date with investment-grade hyperscalers, which excluded the existing Polaris Forge 1 data centers from the measurement. Under the amended and restated agreement, investment-grade hyperscaler contracts apply only to the First and Third Hurdles, while contracts with any hyperscaler can count toward the cumulative Second and Fourth Hurdles. The company also made conforming changes to how the PSUs are treated upon a Change in Control so the applicable contract types count toward the relevant Hurdles.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Applied Digital Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-010113), on March 13, 2026, and is solely responsible for the information contained therein.

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