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Applied Digital Executive Compensation (FY25)

APLD · Dallas, TX · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): November 6, 2025
130 figures on this page: 126 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
Wes Cummins, Chief Executive Officer and Chairman of the Board, received $27,708,092 in total compensation for fiscal 2025, and Cummins' total moved up from the $1,237,002 reported for fiscal 2024. Shareholders supported the say-on-pay proposal with 52.6% of votes cast for or against in favor at the meeting held November 5, 2025 for fiscal 2025. The disclosed peer group includes Alkami Technology, Backblaze, Bit Digital, Box and Cantaloupe, among others. The company reported 3 named executive officers for fiscal 2025.
Chief executive, fiscal 2025
◇
Wes Cummins
Latest say-on-pay support
=
November 5, 2025
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Wes Cummins: $1,237,002 → $27,708,092
Say-on-pay support: 97.3% → 52.6% (44.7 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Applied Digital's chief executive and what were they paid?
Wes Cummins, Chief Executive Officer and Chairman of the Board, received $27,708,092 in total compensation for fiscal 2025. Cummins' total moved up from the $1,237,002 reported for fiscal 2024.
What was Applied Digital's say-on-pay result?
Shareholders supported the say-on-pay proposal with 52.6% of votes cast for or against in favor at the meeting held November 5, 2025 for fiscal 2025.
Which companies are in Applied Digital's peer group?
The disclosed peer group includes Alkami Technology, Backblaze, Bit Digital, Box and Cantaloupe, among others.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Wes Cummins
Chairman of the Board and Chief Executive Officer
◇◇◇———◇◇
David Rench
Chief Financial Officer
◇◇◇———◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Wes Cummins
Chief Executive Officer, President, Secretary and Treasurer
◇◇————◇◇
David Rench
Former Chief Financial Officer
Departed during or after this year
◇◇————◇◇
Michael Maniscalco
Chief Technology Officer
◇◇————◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Laura Laltrello
Chief Operating Officer
◇—◇—◇—◇◇
Saidal Mohmand
Chief Financial Officer
◇—◇—◇—◇◇
Michael Maniscalco
Chief Technology Officer
◇◇◇———◇◇
Wes Cummins
Chief Executive Officer, President, Secretary, Treasurer and Chair of the Board
◇◇————◇◇
David Rench
Chief Financial Officer
◇◇————◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Wes Cummins
Chief Executive Officer and Chairman of the Board
◇◇◇———◇◇
Laura Laltrello
Chief Operating Officer
◇◇◇———◇◇
Saidal Mohmand
Chief Financial Officer
◇◇◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Laura LaltrelloPSU◇—◇————
Laura LaltrelloRSU◇——◇——◇
Saidal MohmandRSU◇——◇——◇
Saidal MohmandPSU◇—◇————
Wes CumminsPSU◇—◇————
Wes CumminsRSU◇——◇——◇
Fiscal 2023 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Saidal MohmandRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Wes CumminsRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Laura LaltrelloRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas Miller
◇◇————◇
Richard Nottenburg
◇◇————◇
Rachel Lee
◇◇————◇
Ella Benson
◇◇————◇
Chuck Hastings and Wes Cummins served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Alkami Technology ALKT
  • Backblaze BLZE
  • Bit Digital BTBT
  • Box BOX
  • Cantaloupe CTLP
  • Cipher Mining CIFR
  • CleanSpark CLSK
  • Couchbase BASE
  • Digital Ocean Holdings DOCN
  • Fastly FSLY
  • Marathon Digital Holdings symbol not shown
  • Marqeta MQ
  • Payoneer Global PAYO
  • Red Violet RDVT
  • Rekor Systems REKR
  • Riot Platforms RIOT
  • TeraWulf WULF
  • Verint Systems VRNT

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025November 5, 2025=◇◇◇
2024November 20, 2024=◇◇◇
2023November 9, 2023=◇◇◇
2022November 10, 2022=◇◇◇
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What this page does not include

Everything above is a fact Applied Digital disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Applied Digital sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Say-on-pay responsiveness
Applied Digital recorded a low support level. The responsiveness analysis covers what the company said it would do, what it did, and how that compares with the companies that recovered their vote.
Responsiveness analysis
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
130 figures on this page: 126 cited to the filing that reported them, 4 calculated from figures it prints.
126 cited to the filing
4 calculated from the filing

Documents cited

  1. 0001144879-25-000095
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001493152-25-014495
    DIRECTOR COMPENSATION · Director Compensation Table · EXECUTIVE COMPENSATION & · Grants of Plan-Based Awards · and 2 more sections
  3. 0001493152-24-047084
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001493152-24-042122
    Summary Compensation Table
  5. 0001144879-23-000233
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001144879-23-000204
    SUMMARY COMPENSATION TABLE · Summary Compensation Table
  7. 0001144879-22-000081
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Applied Digital executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/APLD (accessed 2026).
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Tech — Software rankings

Chief executive pay — Tech — SoftwareCEO pay ratio — Tech — SoftwareSay-on-pay support — Tech — Software

Peers Applied Digital discloses

The companies named in APLD's own disclosed peer group.

BoxDigital Ocean HoldingsFastlyMarqetaPayoneer GlobalRed Violet

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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