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Applied Digital Corporation ( (APLD) ) has issued an announcement.
On January 6, 2026, Applied Digital’s board granted Chairman and CEO Wes Cummins 4.5 million performance stock units and 1.5 million restricted stock units under its 2024 Omnibus Equity Incentive Plan, structured as his primary equity compensation for the next five years. The package is heavily performance- and retention-based, with PSUs vesting only if the company’s average share price sustains ambitious thresholds of $50, $75 and $100 within five years—representing roughly 1.6% potential dilution—and RSUs, representing less than 0.6% of shares outstanding, vesting over five years contingent on continued service and subject to accelerated vesting in specified termination or change-in-control scenarios. The board, advised by an independent compensation consultant, framed the awards as a way to align Cummins’ incentives with long-term shareholder value creation while keeping dilution at what it considers a reasonable level, underscoring his central role in executing the company’s growth strategy as it scales its high-performance computing data center portfolio and expects materially higher revenues from 2026 onward.
The most recent analyst rating on (APLD) stock is a Buy with a $41.00 price target. To see the full list of analyst forecasts on Applied Digital Corporation stock, see the APLD Stock Forecast page.
Spark’s Take on APLD Stock
According to Spark, TipRanks’ AI Analyst, APLD is a Neutral.
The score is held back primarily by weak financial performance (large losses, low margins, and negative operating cash flow). This is partially offset by constructive technical momentum and a bullish earnings-call outlook tied to major hyperscaler leases and an expected lease-revenue ramp, though execution and higher financing/expense burdens remain key risks.
To see Spark’s full report on APLD stock, click here.
More about Applied Digital Corporation
Applied Digital Corporation is a Nevada-based designer, builder and operator of high-performance, sustainably engineered data centers and colocation services tailored to artificial intelligence, cloud, networking and blockchain workloads. Following a strategic pivot into high-performance computing infrastructure, the company has emerged as a leading provider in this niche, delivering strong shareholder returns, including a roughly 214% stock price increase in calendar year 2025, and fully leasing its first 400MW HPC data center in Ellendale, North Dakota and 200MW at its Harwood, North Dakota campus to investment-grade hyperscaler tenants.
Average Trading Volume: 30,416,543
Technical Sentiment Signal: Buy
Current Market Cap: $8.45B
See more data about APLD stock on TipRanks’ Stock Analysis page.