David Rench consulting transition and compensation
Company: Applied Digital
The claim, verbatim
David Rench transitioned from Chief Administrative Officer to consultant role effective January 31, 2025, for a 15-month period, receiving $593,750 in consulting fees payable monthly or semi-monthly
Source (primary)
Applied Digital 8-K/A filed 2025-02-21 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “Mr. Rench will transition from all positions he held with the Company and its subsidiaries and affiliates as of January 31, 2025 (the "Transition Date"), to the role of consultant for the Company, beginning on the Transition Date and continuing until the fifteen (15)-month anniversary of the Transition Date... the Company has agreed to: (i) pay Mr. Rench an amount equal to $593,750, less applicable withholdings and deductions, if any, payable in substantially monthly or semi-monthly installments for the duration of the Transition Period”
How we checked this
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Additional evidence
confirms Applied Digital 8-K/A filed 2025-02-21
Quote: “Mr. Rench will transition from all positions he held with the Company and its subsidiaries and affiliates as of January 31, 2025 (the "Transition Date"), to the role of consultant for the Company, beginning on the Transition Date and continuing until the fifteen (15)-month anniversary of the Transition Date... the Company has agreed to: (i) pay Mr. Rench an amount equal to $593,750, less applicable withholdings and deductions, if any, payable in substantially monthly or semi-monthly installments for the duration of the Transition Period”