Applied Digital files 8-K: director / officer changes
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
(e) In connection with the previously announced proposed transaction pursuant to the Contribution and Exchange Agreement (the “Contribution and Exchange Agreement”) by and among Ekso Bionics Holdings, Inc. (“EKSO”), APLD Intermediate
Holdco LLC, APLD ChronoScale HoldCo LLC (“HoldCo”), and Applied Digital Cloud Corporation, each a direct or indirect wholly owned subsidiary of Applied Digital Corporation (the “Company”), on April 9, 2026, APLD ChronoScale Management
LLC (“Management LLC”), an entity formed for the purpose of issuing the equity awards described herein, granted certain profits interests awards consisting of Management Incentive Plan Units (“MIP Units”) in Management LLC to the following executive officers of the Company: Wes Cummins, Jason Zhang, Saidal Mohmand and Laura Laltrello (collectively, the “Executive Officers”). Each of these awards was fully vested upon grant and was granted under a newly adopted APLD
ChronoScale Management LLC Equity Incentive Plan (the “Plan”).
The
Plan provides selected executives, key employees, consultants, independent contractors, board members, advisory board members, and other service providers of the Holdco group of companies (the “Holdco Group”) with an incentive to participate in the success and growth of the Holdco Group through awards of MIP Units, which are designed to track the appreciation in the equity of
EKSO to be held by the Company through Holdco.
In the aggregate, the awards to the
Executive Officers represent approximately 5.25% of the EKSO shares of common stock to be issued to Holdco pursuant to the Contribution and Exchange Agreement.
Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.