Applied Digital announced key management changes effective October 15, 2024. Current CFO David Rench will transition to Chief Administrative Officer, while Saidal Mohmand, Executive VP of Finance, will be promoted to CFO. Mohmand will receive an annual base salary of $475,000 with a 75% target bonus and equity awards including 490,000 RSUs and 490,000 PSUs.The company also renewed CEO Wes Cummins' contract through October 2027, increasing his base salary to $750,000 retroactive to June 1, 2024. Cummins' agreement includes a 100% target bonus opportunity (maximum 200%) and provisions for equity awards. In case of termination without cause, he will receive 18 months' salary and benefits, extending to 30 months if following a change in control.

Applied Digital announced key management changes effective October 15, 2024. Current CFO David Rench will transition to Chief Administrative Officer, while Saidal Mohmand, Executive VP of Finance, will be promoted to CFO. Mohmand will receive an annual base salary of $475,000 with a 75% target bonus and equity awards including 490,000 RSUs and 490,000 PSUs.The company also renewed CEO Wes Cummins' contract through October 2027, increasing his base salary to $750,000 retroactive to June 1, 2024. Cummins' agreement includes a 100% target bonus opportunity (maximum 200%) and provisions for equity awards. In case of termination without cause, he will receive 18 months' salary and benefits, extending to 30 months if following a change in control.