Applied Digital stock jumps as new filing ties exec pay to hyperscaler milestones
Applied Digital shares closed up 9.4% Monday after the company disclosed multi-year, performance-based stock awards for President Jason Zhang and CFO Saidal Mohmand, tied to leasing and profit targets. A new SEC filing showed Zhang’s awards vest if the company signs up to 1.6 gigawatts in long-term hyperscaler contracts. Analyst Mike Grondahl raised his price target to $56 on potential new leasing. Shares were little changed after hours.