Jason Zhang's stake in Applied Digital dips below 5%

TL;DR

Jason Zhang's Applied Digital stake is now under 5% after share changes.

AI Summary

Jason Zhang filed an amendment to his Schedule 13D for Applied Digital Corp. on October 11, 2024, due to changes in outstanding shares. Zhang's beneficial ownership percentage has decreased, and he no longer holds over 5% of the company's common stock. The filing indicates a shift in his stake, moving from a significant holder to one below the 5% threshold.

Why It Matters

This filing indicates a significant reduction in a major shareholder's stake, potentially signaling a change in influence or strategy regarding Applied Digital Corp.

Risk Assessment

Risk Level: medium — A significant shareholder reducing their stake below a reporting threshold can signal a change in confidence or strategy, impacting stock price and investor sentiment.

Key Numbers

• 5% — Ownership Threshold (Jason Zhang no longer beneficially owns more than 5% of the outstanding shares.)

Key Players & Entities

• Jason Zhang (person) — Reporting Person filing Schedule 13D/A
• Applied Digital Corp. (company) — Subject Company
• Donald Lam (person) — Contact person for Jason Zhang

FAQ

Key Financial Figures

• $0.001 — relates to the common stock, par value $0.001 per share (the "Common Stock"
• $4.37 — Stock on the open market at a price of $4.37 per share. The Reporting Person complet
• $4.84 — Stock on the open market at a price of $4.84 per share. The Reporting Person complet
• $4.73 — Stock on the open market at a price of $4.73 per share. The Reporting Person complet
• $4.46 — Stock on the open market at a price of $4.46 per share. the Reporting Person complet
• $4.42 — Stock on the open market at a price of $4.42 per share. The Reporting Person complet
• $4.39 — Stock on the open market at a price of $4.39 per share. The Reporting Person complet
• $4.17 — Stock on the open market at a price of $4.17 per share. The Reporting Person complet
• $4.30 — Stock on the open market at a price of $4.30 per share. Both of these transactions w
• $4.32 — Stock on the open market at a price of $4.32 per share. The Reporting Person complet
• $4.44 — Stock on the open market at a price of $4.44 per share. The Reporting Person complet
• $4.47 — Stock on the open market at a price of $4.47 per share. The Reporting Person complet
• $25,000 — ereby agrees to pay the Consultant: (I) $25,000 per month, payable on or about the firs
• $250,000 — ne 2022 (III) One-time signing bonus of $250,000 (corresponding to services provided fro

Filing Documents

• aplda1_101124.htm (SC 13D/A) — 38KB
• 0001085146-24-004848.txt ( ) — 40KB

From the Filing

SC 13D/A 1 aplda1_101124.htm JASON ZHANG aplda1_101124.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1)* Applied Digital Corp. (Name of Issuer) Common Stock (Title of Class of Securities) 038169 207 (CUSIP Number) Jason Zhang* c/o Donald Lam 10900 NE 4th Street, Suite 1850 Bellevue, WA 98004 425-462-4700 *Due solely to changes in the outstanding shares of Common Stock of the Issuer, the Reporting Person no longer beneficially owns more than 5% of the Issuers shares of Common Stock and the Reporting Person is voluntarily exiting the reporting system. (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 29, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ] * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page The information required on the remainder of this cover page shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Instructions). CUSIP No.: 038169 207 1 NAME OF REPORTING PERSON: Jason Zhang I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP [ ] (a) [ ] (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS: PF 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 5,784,541 8 SHARED VOTING POWER 0 9 SOLE DISPOSITIVE POWER 5,784,541 10 SHARED DISPOSITIVE POWER 0 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,784,541 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.69% 14 TYPE OF REPORTING PERSON IN CUSIP No.: 038169 207 ITEM 1. SECURITY AND ISSUER: The following constitutes Amendment No. 1 to the Schedule 13D filed by the undersigned ("Amendment No. 1"). This Amendment No. 1 amends and supplements the Schedule D as specifically set forth herein. Capitalized terms used herein and not otherwise defined in this Amendment No. 1 shall have the meanings set forth in the Schedule D, as amended. This Amendment No. 1 is the final amendment to the Schedule 13D and constitutes an "exit filing" for the Reporting Person. This Schedule 13D relates to the common stock, par value $0.001 per share (the "Common Stock"), of Applied Digital Corporation (the "Issuer"). The Issuers principal executive office is located at 3811 Turtle Creek Blvd., Suite 2100, Dallas, TX 75219. ITEM 2. IDENTITY AND BACKGROUND: Jason Zhang (the "Reporting Person") is an individual who serves as a consultant to the Issuer, and has a principal business address c/o Applied Digital Corporation, 3811 Turtle Creek Blvd., Suite 2100, Dallas, TX 75219. The Reporting Person is also a private investor in other entities. During the last five years, the Reporting Person has not (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgement, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The Reporting Person is a United States citizen. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION: Prior to November 7, 2023, the Reporting Person beneficially owned 3,176,026 outstanding shares of Common Stock and had been granted (1) 5,000,000 restricted stock units (RSUs), of which 4,386,848 vested on November 7, 2023 and 613,152 will vest on November 7, 2024 and (2) 240,000 RSUs one-third of which vested on April 4, 2024, and one-sixth of which will vest or have vested on each of October 4, 2024, April 4, 2025, October 4, 2025 and April 4, 2026, in each case by the Issuer in connection with the Reporting Persons consulting services rendered to the Issuer. On November 20, 2023, the Reporting Person sold 136,000 shares of Common Stock on the

View Full Filing

View this SC 13D/A filing on SEC EDGAR