Applied Digital filed a Form 8-K/A to correct a scrivener’s error in how performance “Hurdles” are calculated under a Performance Stock Unit award agreement for President Jason Zhang. The original agreement counted only data center contracts entered into on or after the award date with investment-grade hyperscalers, which excluded the existing Polaris Forge 1 data centers from the measurement. Under the amended and restated agreement, investment-grade hyperscaler contracts apply only to the First and Third Hurdles, while contracts with any hyperscaler can count toward the cumulative Second and Fourth Hurdles. The company also made conforming changes to how the PSUs are treated upon a Change in Control so the applicable contract types count toward the relevant Hurdles.

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