Applied Digital held its annual meeting on November 20, 2024, where shareholders approved several key proposals including the 2024 Omnibus Equity Incentive Plan with 10M shares reserved for issuance. The meeting also authorized an increase in authorized common stock to 400M shares and preferred stock to 10M shares. All six director nominees were successfully elected to serve until the 2025 annual meeting.The company announced new compensation arrangements for CAO David Rench, including a $475,000 annual base salary and eligibility for a 100% target bonus. Rench received grants of 490,000 restricted stock units and 612,500 performance stock units. Additionally, CEO Wes Cummins and CFO Saidal Mohmand were granted 1.6M and 490,000 performance stock units respectively.The shareholders also ratified Marcum LLP as the independent auditor for FY2025, approved executive compensation on an advisory basis, and authorized the potential issuance of shares for Series F Convertible Preferred Stock conversion. All proposals received majority support from voting shareholders.

Applied Digital held its annual meeting on November 20, 2024, where shareholders approved several key proposals including the 2024 Omnibus Equity Incentive Plan with 10M shares reserved for issuance. The meeting also authorized an increase in authorized common stock to 400M shares and preferred stock to 10M shares. All six director nominees were successfully elected to serve until the 2025 annual meeting.The company announced new compensation arrangements for CAO David Rench, including a $475,000 annual base salary and eligibility for a 100% target bonus. Rench received grants of 490,000 restricted stock units and 612,500 performance stock units. Additionally, CEO Wes Cummins and CFO Saidal Mohmand were granted 1.6M and 490,000 performance stock units respectively.The shareholders also ratified Marcum LLP as the independent auditor for FY2025, approved executive compensation on an advisory basis, and authorized the potential issuance of shares for Series F Convertible Preferred Stock conversion. All proposals received majority support from voting shareholders.