CFO Annual Salary Commitment

Company: Applied Digital

This claim was withdrawn on September 15, 2026. Both quoted fragments appear in the source, but the claim wrongly combines them into a salary commitment through October 31, 2024, while the source says the salary is 'subject to annual review' and ties that date only to the agreement term, which also renews automatically.

How this was decided: Evidence review against the cited source. The claim is preserved below exactly as it was originally published, so the record shows what was asserted as well as what became of it.

Subject kind: personnel
Statement date: 2022-09-26
Promised by: 2024-10-31
Promised amount: 275000.0 USD
Current status: withdrawn

The claim, verbatim

David Rench's base salary is $275,000 per annum through October 31, 2024

Source (primary)

Applied Digital 10-K/A filed 2022-09-27 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗

Quote: “On July 18, 2022, the Compensation Committee increased Mr. Rench's annual base salary to $275,000, effective August 1, 2022... The term of the Rench Employment Agreement ends on October 31, 2024, with automatic one (1) year extensions”

How we checked this

Checked on September 22, 2026. The cited source supports every part of this claim.

The document states Rench's salary was raised to $275,000 effective August 1, 2022 and his agreement term ends October 31, 2024.

Confirmed in the source:

David Rench's annual base salary was increased to $275,000
The Rench Employment Agreement term ends on October 31, 2024

What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487922000043/apld-20220531.htm) in full (83,898 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.

Additional evidence

confirms Applied Digital 10-K/A filed 2022-09-27

View cached copy (2026-09-13)Live source ↗

Record of changes

September 14, 2026 — stated

Automated extraction from the cited source. Recorded automatically from the cited source when it was published, then queued for evidence review.

September 15, 2026 — withdrawn

Evidence review against the cited source. Both quoted fragments appear in the source, but the claim wrongly combines them into a salary commitment through October 31, 2024, while the source says the salary is 'subject to annual review' and ties that date only to the agreement term, which also renews automatically.